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Ilika plc (IKA) AI Stock Analysis
Ilika plc
(LSE:IKA)
Weak financial performance with persistent losses and cash burn, combined with unattractive valuation, are the primary constraints. Bearish technical trends add pressure, while earnings call progress in commercialization offers only modest offset.
Ilika plc (IKA) vs. iShares MSCI United Kingdom ETF (EWC)
- Market Cap
- GBP 42.76M
- Dividend Yield
- ―
- Average Volume (3M)
- 232.45K
- Price to Earnings (P/E)
- -5.3
- Beta (1Y)
- 0.59
- Revenue Growth
- 53.47%
- EPS Growth
- -14.16%
- Country
- UK
- Employees
- 68
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Electrical Equipment & Parts
Ilika plc Business Overview & Revenue Model
Company Description
Ilika plc, an enterprise established in 2004 with its headquarters in Romsey, United Kingdom, focuses on the conception, refinement, and commercial production of solid-state battery technology. These advanced power cells are distributed globally unde...
How the Company Makes Money
Ilika primarily makes money through (1) contract and grant-funded R&D and (2) commercialisation of its solid-state battery technology, including licensing and related agreements. Revenue can include payments for development services performed for cus...
Ilika plc Earnings Call Summary
The call presented meaningful technical and commercial progress: first Stereax revenues, manufacturing partnerships (Cirtec), automated pilot line, positive prototype feedback from OEMs, defense and Brompton collaborations, and continued grant support. However, financials remain an important constraint — revenue is still modest, EBITDA losses widened (~19% year‑on‑year), loss per share increased (~14.9%), and pilot capacity and resource limitations constrain immediate scale‑up. There is clear momentum on the technology and validation front but material execution, funding and timing risks remain.
Q4-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management guided that Ilika is transitioning to revenue generation across two product lines (Goliath large‑format and Stereax miniature) and gave detailed metrics: FY2026 revenue was £1.1m (flat YoY) including £0.1m of electrode sales to Cirtec, grant income ~£1.0m, EBITDA loss £6.2m (vs £5.2m prior) and loss per share 4.02p (vs 3.50p), year‑end cash £5.3m (plus a July top‑up raise), 88 granted patents, pilot‑line capacity ~1.5 MWh/yr (c.20,000 10Ah cells/yr), 16 Stereax customers with 19 orders, commenced M300 deliveries, shipped 10A Goliath prototypes and are converting those into a 10A MVP with early non‑automotive commercial opportunities (defence, e‑bikes/Brompton) and expected further grant support leading to option‑to‑license milestones; modeling with Balance indicated a c.20% weight (and range) benefit and a 1/3 reduction in charge time (18→12 minutes) for Goliath in a Hyundai Ioniq 5.
Ilika plc Financial Statement Overview
Summary
Low volatile revenue, persistent negative gross profits, net losses, declining equity, and ongoing negative operating and free cash flows signal weak financial health for this development-stage company.
Income Statement
20Very NegativeBalance Sheet
40NegativeCash Flow
25Negative| Breakdown | TTM | Apr 2026 | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 112.80K | 112.80K | 73.50K | 20.10K | 33.85K | 30.88K |
| Gross Profit | -2.55M | -2.55M | -452.70K | -1.06M | -1.97M | -1.49M |
| EBITDA | -7.10M | -7.82M | -5.38M | -4.00M | -7.30M | -6.81M |
| Net Income | -7.24M | -7.24M | -5.90M | -4.81M | -7.30M | -7.13M |
Balance Sheet | ||||||
| Total Assets | 16.77M | 16.77M | 19.45M | 22.83M | 26.91M | 33.93M |
| Cash, Cash Equivalents and Short-Term Investments | 5.35M | 5.35M | 7.98M | 11.95M | 15.87M | 23.45M |
| Total Debt | 1.08M | 1.08M | 470.70K | 625.30K | 618.48K | 847.60K |
| Total Liabilities | 2.35M | 2.35M | 2.27M | 2.47M | 2.14M | 2.50M |
| Stockholders Equity | 14.42M | 14.42M | 17.18M | 20.36M | 24.77M | 31.44M |
Cash Flow | ||||||
| Free Cash Flow | -5.36M | -5.36M | -6.28M | -4.13M | -7.45M | -10.08M |
| Operating Cash Flow | -4.70M | -4.70M | -4.18M | -2.46M | -6.05M | -5.64M |
| Investing Cash Flow | -1.48M | -1.48M | 2.47M | -5.06M | -1.40M | -4.44M |
| Financing Cash Flow | 3.55M | 3.55M | 1.93M | -316.70K | -75.78K | 23.71M |
Ilika plc Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:IKA, the sentiment is Negative. The current price of 21.50 is below the 20-day moving average (MA) of 21.60, below the 50-day MA of 22.97, and below the 200-day MA of 28.48, indicating a bearish trend. The MACD of -0.14 indicates Negative momentum. The RSI at 40.63 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:IKA.
Ilika plc Risk Analysis
Ilika plc disclosed 6 risk factors in its most recent earnings report. Ilika plc reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
0 New RisksIlika plc Peers Comparison
Overall Rating
GB:VLX67Neutral
GB:XPP55Neutral
GB:GELN53Neutral
GB:CWR50Neutral- GB:IKA42Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| GB:VLX | 67Neutral | GBP 1.02B | 21.50 | 15.29% | 0.85% | 8.85% | 29.67% |
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
| GB:XPP | 55Neutral | GBP 484.60M | -55.06 | -4.89% | ― | -1.21% | 46.27% |
| GB:GELN | 53Neutral | GBP 47.03M | -6.63 | -40.88% | ― | -94.63% | 24.26% |
| GB:CWR | 50Neutral | GBP 558.99M | -15.23 | -17.63% | ― | -22.86% | -25.81% |
| GB:IKA | 42Neutral | GBP 42.76M | -5.33 | -45.06% | ― | 53.47% | -14.16% |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| GB:IKA | Ilika plc | 21.50 | -22.50 | -51.14% | |
| GB:CWR | Ceres Power Holdings | 261.40 | -36.60 | -12.28% | |
| GB:VLX | Volex plc | 562.00 | 187.17 | 49.94% | |
| GB:XPP | XP Power | 1730.00 | 702.00 | 68.29% | |
| GB:GELN | Gelion PLC | 20.50 | -6.30 | -23.51% |
Ilika plc Corporate Events
Ilika Shareholders Back AGM Resolutions as Executives Receive Deferred Share Options
PositiveIlika reported that all resolutions at its latest Annual General Meeting were passed with strong shareholder support, including approval of the 2025–26 accounts, the directors’ remuneration report, director re-elections, auditor reappoint...
Ilika appoints senior UK defence figure to drive solid-state battery expansion
PositiveIlika has strengthened its push into defence-related applications of its solid-state battery technology with the appointment of Maj Gen (Retd) Robin Anderton-Brown as strategic defence sector advisor. The former 2 Star Director of Capability at UK St...
Ilika boosts Goliath solid-state battery performance with UK-backed PRIMED project
PositiveIlika plc has successfully completed its PRIMED programme, funded under the UK Government’s DRIVE35 initiative, to optimise the performance of its 10Ah Goliath solid-state battery prototypes. The company focused resources on enhancing the 10Ah...
Ilika sets September AGM, publishes 2026 annual report and investor presentation
PositiveIlika plc, the AIM-listed solid-state battery developer, focuses on Stereax micro-batteries for medical and industrial IoT uses and Goliath large-format batteries for electric vehicles and cordless appliances, commercialised via IP licensing to manuf...
Ilika ramps solid state battery commercialisation as losses widen
PositiveIlika has reported full-year results showing it has moved its Stereax solid state batteries into commercial production with manufacturing partner Cirtec Medical, delivering M300 prototypes and commercial-grade electrodes to a portfolio of 16 medical...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Sep 09, 2026