Partnership with Elon Musk's Space X helps Filtronic deliver 120 per cent revenue increase
Communications technology company Filtronic has announced a 120 per cent increase in revenue following on from its deepening work with Elon Musk’s SpaceX.
The company, which was founded by Leeds University professor David Rhodes in the 1970s and has an office in Yeadon but is now headquartered in County Durham, has revealed it expects to report revenue of £52.6m for the year to May 31, 2025 – more than double the £25.4m recorded the previous year.
It comes a fortnight after Filtronic announced a new £24m deal with SpaceX, building on its existing partnership with the company.
Filtronic has been supporting the ongoing deployment of SpaceX’s Starlink constellation, which provides high-speed, low-latency internet to users all around the world. SpaceX is one of the world’s largest companies, valued at around $350bn.
Filtronic’s latest trading update also highlighted recent contract wins with Viasat and the European Space Agency, as well as an £800,000 order from helicopter company Leonardo.
The company said it expects further opportunities as a result of increased military spending by European nations.
It said: “Rising European defence spending coupled with macro tailwinds such as RF engineering shortages, demand for sovereign capability, and market convergence further strengthen Filtronic's position in this sector.”
Nat Edington, Chief Executive Officer, said the firm is pleased with its current direction of travel.
"We are delighted with this strong trading performance, demonstrating our ability to ramp quickly and respond to market needs.
"This has positioned us well with our lead customer where there is strong alignment on rapid execution.
"We look forward to FY2026 with further optimism as we continue to invest in the business and capitalise on the expanding market opportunity in front of us.
"The focus will be on broadening the customer base, completing key technology developments and relocating our state-of-the-art manufacturing site in Sedgefield to a new facility at the same science park, doubling our operational footprint by doing so."
The company’s full results for the financial year will be published next month.
The firm said: “A healthy order book provides significant order coverage as the Company commences the new financial year which, coupled with a growing pipeline, leaves the business in a strong position to meet market expectations for FY2026.”
It said its order pipeline includes a variety of different products connected to satellites orbiting the Earth at different distances.