Filtronic Announces $68.1 Million SpaceX Order for Delivery in 2028
Key Facts
Filtronic said on October 1, 2026, that it had received a $68.1 million follow-on order from SpaceX, equivalent to £51.3 million, to supply solid-state power amplifier units operating in E-band and using gallium nitride. The company said this was the largest order it had received from SpaceX to date, with physical delivery expected during fiscal 2028. It added that the order supports the board's expectations for that fiscal year. The announcement follows a series of orders between the two companies, as Filtronic supplies technologies used in satellite communications. The stated delivery date extends the timeline in which the company linked the order to its revenue outlook through fiscal 2028 and beyond.
Filtronic said the new follow-on order follows a $62.5 million order announced in August 2025 for next-generation E-band technology based on gallium nitride. In its August 26, 2025, announcement, the company had described that contract as the largest in its history at the time, valued at £47.3 million, or $62.5 million. The contract was for supplying technology for Starlink's high-speed internet service. The strategic agreement between the two parties began with an initial $19.7 million order, equivalent to £15.8 million, for the supply of E-band units. The initial order units were scheduled for delivery during fiscal 2025, according to the company's announcement of the partnership.
The ordered units rely on gallium nitride technology, which Filtronic said enables higher output power, improved efficiency and better thermal performance compared with traditional gallium arsenide solutions. The company supplies solid-state power amplifier units designed to operate in the E-band. This technological application places the product in the context of low Earth orbit satellite communications, according to Filtronic's description of the technology's applications. Chief Executive Nat Edington said the order extends order visibility and coverage over the next two years. He added that it provides "significant revenue visibility through fiscal 2028 and beyond," linking the new order to the financial horizon the company had announced.
The order follows an improvement in Filtronic's annual results: revenue rose to £56.3 million in fiscal 2025 from £25.4 million in the previous fiscal year, a 121% increase. Operating profit climbed to £13.4 million, compared with £3.6 million in fiscal 2024, an increase of 272%. In its first-half fiscal 2026 update, the company said strong orders during the period meant it entered the second half with a record order book. It added that the order book provides visibility and confidence in its strategy and long-term growth. The company places its SpaceX orders in the context of that order book, while expecting the latest order's physical delivery during fiscal 2028.
Following the order announcement on October 1, Filtronic shares rose 7.4% to 255 pence, according to Reuters, and the stock's gains since the start of 2026 through those moves were about 45%. Filtronic is listed on the AIM market under the ticker FTC. The company's upcoming events include Space Tech Expo Europe in Bremen, taking place from November 17 to 19, 2026. The expo follows the order announcement, while its expected delivery date extends to fiscal 2028. The company links its SpaceX orders to providing revenue visibility over the coming fiscal years.