Filtronic eyes SpaceX work as revenues rocket

A technology firm has refused to rule out further support for Elon Musk’s space crusade after a landmark partnership saw revenue skyrocket.

Filtronic says the “remarkable success” of an alliance to boost the tycoon’s headline SpaceX venture could pave the way for “further collaboration”. 

The Sedgefield-headquartered operator previously won a deal to supply power amplifiers and associated apparatus to SpaceX’s Starlink constellation, which uses low Earth orbit satellites to deliver high-speed internet connections.

And having helped treble revenue to £25.6 million in the half-year to November 30, which enabled the business to turn a £500,000 loss into a £6.7 million profit and push adjusted EBITDA from £200,000 to £8.7 million, bosses say the firm is primed to provide further support.

Jonathan Neale, chair, said: “The low Earth orbit space market remains a driving force for the business, offering further significant growth potential.

“Our partnership with SpaceX continues to strengthen and grow (and it has) enabled both parties to consider further collaboration following the remarkable success of the Starlink constellation. 

“The low Earth orbit space market is an exciting area for us.”

Hailing the firm’s “positive cadence of orders” during its half-year reporting period, Jonathan said the business is well placed to continue its growth, which he added will be boosted by previously-unveiled plans to expand into a larger “purpose-built” base on Sedgefield’s NETPark.

He added: “Our order book is healthy and the opportunity pipeline continues to build, serving us well as we move towards the next financial year.

“The overall macro factors for the low Earth orbit satellite market are robust, driven by the emergence of reusable launch vehicles and advanced manufacturing, which significantly reduces the cost of launch and enables more companies to participate in space activities. 

“Commercial engagements, not only with SpaceX, have demonstrated the relevance of our technology to the wider satellite market. 

“This enables us to bring forward leading-edge high-performance technology that we anticipate could be widely adopted.”

Alongside its Sedgefield headquarters, Filtronic operates bases in Leeds and Manchester, and last year opened an office at Cambridge Science Park.

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