FEIM News & Events

The company is establishing this minimum target by the end of its FY29, which represents a compound annual growth rate north of 30%. Growth is expected to be driven by the expansion of the company's backlog and order book to all-time highs, as well as development in next-generation markets like quantum sensing, proliferated satellites, and space exploration. "Frequency has historically not provided guidance because our business can be non-linear on a quarterly or even annual basis. But as we end Fiscal 2026 today, we feel increasingly confident in our ability to project our growth on a multi-year basis," said CEO Tom McClelland.

Reports Q3 revenue $16.89M vs. $18.93M last year. FEI president and CEO, Tom McClelland commented, "Our third quarter fiscal year 2026 performance was strong by a number of measures, with revenue of $16.9 million, and a record $83 million funded backlog. Revenue quarter over quarter was basically flat, yet the quarterly revenue still represents the fourth highest quarterly revenue in the last decade. More importantly, though our business does not proceed in a perfectly linear fashion, we have established a new higher base in recent years, and we anticipate building upon that base now and in the years to come. As we look into the current fiscal fourth quarter and beyond, we have many reasons to be optimistic about our business going forward."

Frequency Electronics announced the award of two contracts for satellite programs. One contract is in the domain of FEI's traditional space satellite programs, and one is part of the new proliferated satellite paradigm. The contracts are valued at approximately $45M on a combined basis, and the company expects that this new business will begin to enter funded backlog in this current fiscal fourth quarter of 2026. Further, FEI anticipates additional awards of similar magnitude in this calendar year. FEI president and CEO, Tom McClelland, commented, "We are extremely pleased with these awards and the opportunity to deliver mission-critical technology for current and next-generation satellite platforms. These two awards are good examples of our ability to become a substantially larger company in the years to come as we layer in new growth opportunities, which are built upon our industry-leading capabilities, on top of a strong and growing core business. Proliferated satellite programs are one of the major growth markets we are pursuing, and we are starting to see a meaningful increase in the amount of quoted work there. We look forward to sharing more such awards in the coming quarters."