As anyone that has been following along will know I see great potential for EnSilica (London: ENSI) including writing recently about why it is worth possibly 13x its current share price. Having just listened to a great webcast on the 2025 financial year’s results with Ian Lankshear, CEO, and Kristoff Rademan, CFO, a number of things stood out.
First and foremost… they may be working on an opportunity for a satellite user terminal contract (so not guaranteed business) that has the potential for £100m in revenue. Here is an excerpt from the webcast where Ian confirms the potential from such a sale could exceed £100m.
£100m in revenue. I’ll say that again… £100m in revenue. Even if spread over a number of years I wouldn’t be surprised if the year one revenue could exceed this financial year’s entire revenue of £18.2m.
What is later mentioned in terms of satellite user terminals is that EnSilica is the only provider with the intellectual property of all the key integrated circuits for a user terminal, something I speculated about earlier in the year. Ian even states at one point that one terminal chip design could be valued in the hundreds of millions!
So while the share price continues to be manipulated (down today on great news) in my opinion I remain confident that one day EnSilica’s name will proudly sit alongside that of CSR plc and ARM Holdings plc as world class premier chip designers. Perhaps in the decades ahead, as I have speculated, it may even become Europe’s answer to Qualcomm, a $200 billion company started by just seven people.
If you’d like to listen to the entire webcast you can do so here: https://youtu.be/oVvPgqcbFYs
May fortune favour EnSilica and its shareholders!
Double Bubbler
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