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Ilika
Ilika (IKA) investor relations material
Ilika H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary22 Jan, 2026
Executive summary
Achieved key milestones in Stereax (miniature solid-state batteries for medical/IoT) and Goliath (large-format batteries for automotive and consumer appliances), including Stereax commercial deliveries and Goliath 10Ah prototype shipments.
Asset-light, IP-driven business model with Stereax licensed to Cirtec Medical and Goliath at prototype stage; Stereax manufacturing qualified at Cirtec's US facility.
Stereax integration with Cirtec's power management platform and initial application designs expected in 2026.
Goliath: customer feedback on 10Ah prototypes pending, with licensing discussions and plans to refine prototypes for MVP A-Sample in 2026.
Secured first revenue-generating purchase order for Stereax electrodes and expanded evaluation agreements pipeline to 27 companies.
Financial highlights
Turnover/revenue for the half-year: £0.6 million, down year-over-year due to timing of grant funding.
EBITDA loss increased to £3.2m, reflecting lower turnover and higher material costs for Goliath prototype ramp-up.
Operating loss for the period was £4.5m, compared to £3.1m in the prior year.
Cash and cash equivalents at period end: £6.9 million, with additional R&D tax credit received post-period.
Successful gross fundraising of £4.2m to support product roadmaps and commercialisation.
Outlook and guidance
Stereax: commercial revenues starting from cathode deliveries, with product sales expected before end of 2026 and plans to ramp sales as regulatory approvals progress.
Goliath: licensing window open, with discussions expected to continue over the next 30 months; plans to refine 10Ah prototypes and move towards MVP A-Sample in 2026.
Intends to broaden Goliath's customer base, targeting consumer appliance and defence sectors in addition to automotive OEMs and Tier 1 suppliers.
Key 2026 milestones: Stereax integration into Cirtec development board, Goliath customer feedback and MVP definition.
Confident in securing larger follow-on orders for Stereax M300 batteries from the current customer base.
Stereax revenue ramp-up expectations
Goliath A-Sample delivery given funding gap
Goliath's £2,500 EV saving vs. competitors
Goliath licensing: What's the 30-month outlook
Stereax M1000: Process optimization strategy
Goliath non-EV markets: Prioritization strategy
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Next Ilika earnings date
H2 202616 Jul, 2026
Ilika
Next Ilika earnings date
H2 202616 Jul, 2026
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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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