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Ilika (IKA) investor relations material
Ilika H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 earnings summary17 Jul, 2025
Executive summary
Focused on solid-state battery development with two product lines: Stereax (miniature batteries for medical/IoT) and Goliath (large format for automotive/consumer appliances).
Asset-light, licensing-based business model with strong IP portfolio (78 patents) and GBP 55 million invested to date.
Stereax partnership with Cirtec Medical progressing, with production and revenue expected to commence in 2025.
Goliath prototypes validated by third parties; scale-up at UK BIC demonstrates industrial scalability and higher yields.
Financial highlights
Revenue for the year was GBP 1.1 million, down from GBP 2.1 million year-on-year due to timing of grant-funded projects ending.
Commercial income includes first sales of Goliath P1 prototypes.
EBITDA loss increased year-on-year, mainly due to lower grant revenue; cost base remains stable.
Cash balance at year-end was GBP 8 million, rising to over GBP 11 million after a successful fundraise.
Outlook and guidance
Stereax batch production and initial revenues expected in the second half of 2024, with commercial ramp-up in 2025.
Goliath 10 Ah P1.5 prototypes to be released for customer evaluation later in 2024, followed by 50 Ah P2 prototypes.
Additional GBP 1.25 million grant secured to support Goliath A sample production.
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Frequently asked questions
Ilika plc is focuses on solid-state battery technology, focusing on the development and commercialization of batteries for a wide range of applications. The company's technology includes thin-film Stereax batteries, designed for powering implantable medical devices and industrial wireless sensors (IIoT) in specialist environments. Additionally, Ilika is advancing its large-format Goliath cells, aimed at electric vehicles (EVs) and cordless appliances. The benefits of Ilika's solid-state batteries include high energy density, fast charge rates, long cycle and storage life, and a non-flammable safety profile. Ilika plc is headquartered in Romsey, United Kingdom, and its shares are listed on the London Stock Exchange.
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