New Contract for a Timing Controller ASIC

The information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation.

6 December 2024

EnSilica plc

("EnSilica", the "Company" or the "Group")

New Contract for a Timing Controller ASIC

Contract value projected to exceed US$30m based on forecasts

EnSilica (AIM: ENSI), a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has been awarded a contract for the design and supply of a precision timing controller ASIC to be used in high-value industrial test equipment products (the "Contract").

The total value of the Contract, including non-recurring engineering ("NRE") and supply, is projected to exceed US$30m over 10 years, based on quoted NRE fees and the client's forecast production volumes.

EnSilica was selected by this industrial test equipment provider due to its world-class mixed signal design experience and relevant intellectual property portfolio.

The Contract will commence imminently, with NRE revenues falling into EnSilica's current and next financial years, underpinning current consensus market expectations. The supply revenue is forecast to commence in mid-2026.

Out of the three prospective design and supply contracts in the negotiation stage that were referred to in the Company's announcement on 5 November 2024, two have now been secured and announced by EnSilica. These contracts come with significant upfront payments.

Ian Lankshear, Chief Executive Officer of EnSilica, commented:

"We are very pleased to have secured our fifth design and supply contract this financial year, demonstrating our strong market reach and technical offering. Through this ASIC, EnSilica will deliver key differentiation features to our customer's high-value industrial test equipment products.

EnSilica continues to be a go-to partner of choice for businesses across the globe looking for industry-leading ASIC design, supply and consultancy know-how, and we look forward to building on our robust new contract momentum in the remainder of the financial year and beyond."   

For further information please contact:

The person responsible for arranging release of this announcement on behalf of the Company is Ian Lankshear, Chief Executive Officer.

About EnSilica

EnSilica is a leading fabless design house focused on custom ASIC design and supply for OEMs and system houses, as well as IC design services for companies with their own design teams. The company has world-class expertise in supplying custom RF, mmWave, mixed signal and digital ICs to its international customers in the automotive, industrial, healthcare and communications markets. The company also offers a broad portfolio of core IP covering cryptography, radar, and communications systems. EnSilica has a track record in delivering high quality solutions to demanding industry standards. The company is headquartered near Oxford, UK and has design centres across the UK and in Bangalore, India and Porto Alegre, Brazil.