IQE posts 43% revenue rise and becomes debt-free
IQE reported first-half revenue of GBP 64.6 million, a 43% year-on-year increase driven by wireless (GBP 26 million) and photonics (GBP 38.5 million). Adjusted EBITDA was GBP 6 million as margins improved from better utilization and yields. The company moved to a net cash position with GBP 41.6 million in cash, no bank debt and an adjusted net cash position of GBP 30.2 million. Management emphasized a shift to long-term agreements, plans to convert tooling to increase indium phosphide capacity where customers commit, and expectations of at least 30% growth in 2026 and 2027 amid substrate and rare earth risks.
IQE grew revenue strongly and removed bank debt.
Context
The company completed a strategic review and secured investor funding in April. It then signed multi-year supply deals and improved manufacturing utilization. Next steps include capacity conversions and a targeted main market listing in…
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