ILIKA PLC - Full Year Results

Ilika PLC’s FY2026 investor update highlighted continued progress in the commercialisation of its solid-state battery technologies, with key milestones achieved across both its Goliath electric vehicle (EV) batteries and Stereax miniature batteries for medical and industrial applications. The company reported revenue of £1.1 million, including its first commercial Stereax revenue, marking the transition from an R&D-focused business to a revenue-generating technology company. Ilika strengthened its growth strategy through successful fundraising, significant grant funding, prototype deliveries to OEMs and Tier 1 partners, and strategic collaborations with Jaguar Land Rover, Agratas and Brompton. The Goliath programme advanced with automated pilot-line production, positive validation results, defence and e-bike commercial opportunities, and discussions around licensing agreements expected to generate early revenue. Meanwhile, Stereax production and customer deliveries commenced through its partnership with Cirtec Medical, supporting future royalty income and accelerating adoption in implantable medical devices. Financial results reflected increased investment in commercialisation, with an EBITDA loss of £6.2 million driven by higher prototype production costs, while the company ended the year with £5.3 million in cash before its subsequent capital raise. Backed by 88 granted patents, a scalable licensing business model and expanding commercial partnerships, Ilika remains focused on driving revenue growth, securing licensing opportunities and building long-term shareholder value through the commercial deployment of its proprietary solid-state battery technology.