After the very positive half year trading update for EnSilica (London: ENSI) last week I have been spending a little time digging into the chip design opportunities EnSilica may be working on and the specific wording within recent communications.
One area of opportunity that particularly excites me is that of satellite user terminals given CEO Ian Lankshear has already confirmed in the recent FY25 results webcast that an opportunity in this area could be worth a hundred million. That’s over three times the recently reaffirmed outlook of £28m to £30m in total revenue for this current financial year ending May 31st.
So it didn’t escape my attention that in the trading update EnSilica has ’expanding customer engagement across user terminals’. Other than the obvious I am of the opinion that ’expanding customer engagement‘ is particularly of note as the recent AGM statement also confirmed ’two new user-terminal feasibility programmes for separate satellite-service operators’ which all taken together may mean demonstrable progress on the UK Space Agency’s £10.38m award last February for satellite terminal chips, where the press release stated…
‘EnSilica put forward in its application a compelling business case, supported by letters of interest from potential lead customers, to develop a family of semiconductor chips to support future generations of best-in-class, highly integrated, mass market satellite broadband user terminals. The terminals will be capable of connecting with various satellite constellations and will leverage advanced semiconductor technology. In addition, the project will provide a resilient and secure source of chips which is independent and not tied to specific satellite service operators.’
’We are now engaged with the key European players and I’m sure this further backing from the UK Space Agency will help us garner global interest in the unique products we are developing.’
The letters of interest from potential lead customers along with recent statements from EnSilica makes me wonder if the two user-terminal feasibility programmes are demonstrable progress following the award towards at least one hundred million opportunity with a key European player (perhaps Eutelsat, SES A.S. or Hispasat).
Given the timings of the award, that could mean EnSilica if successful may be working towards a potential contract later this year or next. Here’s hoping! 🤞
EnSilica: Joining some dots towards a hundred million opportunity in satellite user terminals!
byu/_DoubleBubbler_ inDoubleBubbler
