SpaceX Contract Propels UK Firm Filtronic to 16-Year Stock High

The $20.9 million deal strengthens Filtronic's role in supporting SpaceX's Starlink satellite network and boosts its financial outlook.

Filtronic secured a $20.9 million contract with SpaceX to supply radio frequency modules for the Starlink satellite network.
The deal is expected to boost Filtronic's revenue and profit for fiscal years 2025 and 2026, surpassing market expectations.
Filtronic's stock surged by up to 15% on Monday, reaching its highest level since May 2008 and marking a nearly 700% increase over the past two years.
The UK-based firm reported a significant financial turnaround, with first-half fiscal year revenue tripling to £25.6 million and a swing to a £6.7 million profit.
The partnership with SpaceX, which began in 2024, includes a provision allowing SpaceX to acquire up to a 10% stake in Filtronic.