Ethernity Networks shares jump 44% on defence deal

Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF), the AIM-listed semiconductor company, has reported growing revenues from its Tier-1 US defence and aerospace customer, sending its shares up 44% to 0.0039p.

The company, which supplies data processing chip technology for networking appliances, said it recognised $0.2 million in revenue from the customer during the first quarter of 2026.

It now expects total enhancement-related revenues from the programme to reach between $0.8 million and $1.0 million for the full year, offering investors greater clarity on near-term income.

The relationship began with a $1.3 million single-platform licence agreement announced in March 2025 and completed in August of that year, since when Ethernity has continued generating income through ongoing product development work.

The customer has begun shipping its platform incorporating Ethernity’s intellectual property and is evaluating whether to extend the technology to an additional platform, which would generate further licence revenue on top of the figures already outlined.

Chief executive David Levi said the customer provided “near-term revenue visibility and potential for further platform expansion,” adding that the deepening relationship supported the company’s strategy of building high-value, long-term customer engagements.