Ilika plc AIM:IKA
- Incorporated
- United Kingdom
- Chief executive
- Graeme Purdy
- Employees
- 68
- Reports in
- GBP
- Companies House
- 07187804
Read straight from the annual reports
20.5p at close on 7 Oct 2026 · 12 reported years, 2015–2026
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
12 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
Ilika plc develops solid-state batteries: small cells for medical implants and sensors, and larger ones for vehicles, defence and appliances. In the year to 30 April 2026 its sales rose to £113k from £74k, but its loss after tax widened to £7.2m from £5.9m. Most of its income still came from UK government grants rather than sales. Costs rose, led by higher research spending and the cost of making larger test batteries for potential customers to try. It also recorded a recurring charge for share awards to staff, which uses no cash. The first paid order for parts for its medical battery arrived in January 2026. Cash fell to £5.3m from £8.0m, even after £4.2m was raised by selling new shares. The company has no bank borrowings and is paying no dividend. After the year end it raised a further £5.0m before costs. Management aims to grow product sales and receive its first royalties in the coming year. The auditor raised no doubt about the company's ability to keep operating. The report warns that it must keep raising money and depends on a few partners and grant funders.
UK government grant income (DRIVE35, BIP/SELECT, PRIMED) supporting Goliath and Stereax R&D
UK grants of £951.0k made up 89% of total income of £1,063.8k in the year
page 59Stereax licence and royalty income from ten-year Cirtec Medical manufacturing/licence agreement signed August 2023
First revenue-generating order for Stereax electrodes secured January 2026; commercial-grade electrodes delivered to Cirtec for M300 production in March 2026
page 9Increased production and testing costs for larger-volume 10Ah Goliath and Stereax M300 samples
Costs to the ongoing Stereax development have stabilised and the commencement of commercial revenues from LCO production brings to an end capitalisation of the Stereax IP; Goliath costs increased with larger 10Ah samples produced for evaluation
page 28Administrative expense growth
Administrative costs increased from £7.6m (2025) to £8.8m (2026), including R&D expenditure up to £4.5m (2025: £3.3m)
page 28Chair Keith Jackson: 'We have exciting opportunities on two product fronts (Stereax and Goliath), generating value and improving outcomes for many.'
page 6Following the year end, the Company completed a £5.0m gross fundraise comprising an institutional placing, open offer and director subscriptions of 18,057,139 new Ordinary Shares at £0.28 per share, completed 7 July 2026 with new shares admitted to trading on AIM on 9 July 2026
page 44Financial statements prepared on a going concern basis; Directors consider the Company and Group have adequate resources for at least 12 months from the report date, following completion of a £5.0m gross (£4.7m net) equity fundraise after the year end. Auditor BDO LLP issued an unqualified ('true and fair view') opinion, with no material uncertainty related to going concern identified. Sole key audit matter: capitalisation of development expenditure. Group materiality was £288,000 (2% of net assets)
page 45- Commercial risk — competition from more advanced/cheaper alternative technology platforms, both for existing and in-development productsp.30
- Financial risk — reliance on a small number of significant customers, partners and grant funding bodies; termination of agreements or funding policy change could materially affect results; need to continue raising capitalp.30
- Intellectual property risk — IP necessary to exploit R&D may not be adequately secured or defended, or may become obsolete before products are commercialisedp.30
- Dependence on senior management and key staff — certain staff considered vital to successful development; failure to retain highly skilled individuals could adversely affect operational resultsp.30
Read from C000651-AR-2026-ch.
11 annual reports read, FY2016 to FY2026
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (11)
FY2027Next report expected 19 Jul 2027