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IQE plc: Business Overview, Financials & Competitive Analysis

IQE plc scores 4/10 on the AskCyborg Cyborg Score (Mixed). Recovery play riding AI/defense tailwinds, but executing strategic review amid historical margin pressures. The company achieved revenue of c.£97m with adjusted EBITDA of at least £2.0m in 2025 due to improved operating leverage as capacity utilisation improves. However, the company faced profitability challenges and required covenant waivers from its banking.

What is IQE plc's industry? IQE plc (iqep.com) operates in Semiconductor Materials & Equipment - Compound Semiconductors (Epitaxy Wafers). AskCyborg classifies IQE plc under Semiconductor Materials & Equipment - Compound Semiconductors (Epitaxy Wafers) in its company registry.

IQE plc is a company engaged in the research, design, development, manufacture and sale of compound semiconductor materials. The company serves critical end markets including wireless communications, photonics (AI/dat...

4/ 10Mixed

Cyborg Score thesis

Recovery play riding AI/defense tailwinds, but executing strategic review amid historical margin...

Read the full analyst-debate transcript →
Industry Semiconductor Materials & Equipment - Compound Semiconductors (Epitaxy Wafers)
3 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: October 19, 2026
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Analyst-debate audio for IQE plc

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What's in This Report
IQE plc OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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IQE plc Overview

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IQE plc is a company engaged in the research, design, development, manufacture and sale of compound semiconductor materials. The company serves critical end markets including wireless communications, photonics (AI/data center), and advanced silicon applications across automotive, aerospace, and defense sectors.

Strategic Profile

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IQE enters 2026 with a strong first-quarter order book reflecting improved demand visibility across core segments including consumer mobile, data-center and AI-related photonics markets, with growth in data-center deployments and AI-enabled compute supporting increased demand for photonics products. The Board is negotiating non-binding offers for the Group as a whole in addition to separate bids for certain other Group assets with a view to maximising shareholder value.

Competitive Landscape

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IQE positions itself as a scaled epitaxy wafer specialist serving chipmakers and OEMs from facilities in the U.K., U.S. and Taiwan, and is listed on London's AIM market. Main competitors include MACOM Technology, Akhan Semiconductor, and smaller epitaxy specialists, competing on technology breadth, capacity, and customer relationships in compound semiconductors.

Industry Context

IQE plc operates in Semiconductor Materials & Equipment - Compound Semiconductors (Epitaxy Wafers).

Key facts

Founded: 1988 · Headquarters: Cardiff, UK · Employees: 517 · Revenue: £97M (FY2025E) · Market cap: £185.95M

What the AI analysts debated

AI-generated and not independently verified: selected findings from the multi-agent debate on IQE plc.

  • IQE saw strong trading momentum in second-half 2025 due to faster-than-expected funding releases for some US military and defence programs, previously anticipated for 2026.
  • IQE experienced higher than forecast photonics demand in the period, reflecting continued growth in AI and data centre markets, and increased sales of wireless products tied to new handset introductions which benefitted the Group's Taiwan operations.
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Share capital confirmation: 978.7 million shares outstanding as of Feb 28, 2026
  • January 2026FY2025 trading update: £97m revenue at upper end of guidance with positive H2 momentum
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

RF & Photonics SemiconductorsCompeting chipmaker for wireless/RF applications→Gallium Nitride WafersGaN epitaxy and power semiconductor materials→Silicon Epitaxy MaterialsFragmented competitive landscape in advanced silicon wafers→

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Industry context

IQE plc operates in Semiconductor Materials & Equipment - Compound Semiconductors (Epitaxy Wafers). See how the rest of the sector scores on the Cyborg framework.

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How AskCyborg research is made

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AI analyst debate, not single-author opinion

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The Cyborg Score and recent developments reflect public sources as of the date shown and can miss or lag recent events. Check primary sources before relying on them.

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Methodology open at /methodology

The framework, dimensions, and band breakdowns are documented. The Cyborg Score is an AI-generated opinion under that framework, not a credit rating or an investment recommendation.

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Sources: public filings, regulatory data, and news flow, analysed by AI models. Read the methodology →

AI-generated research summary based on public sources; it may contain errors or omissions. Not investment advice. Not reviewed or endorsed by the companies covered. Report an error: legal@askcyborg.com · Terms of Service

Frequently asked questions

What does IQE plc do?+
IQE plc is a company engaged in the research, design, development, manufacture and sale of compound semiconductor materials. The company serves critical end markets including wireless communications, photonics (AI/dat...
What is IQE plc's Cyborg Score?+
IQE plc has a Cyborg Score of 4/10 (Mixed). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are IQE plc's main competitors?+
Named competitors include RF & Photonics Semiconductors, Gallium Nitride Wafers, Silicon Epitaxy Materials. The full competitive landscape is in the AskCyborg report.
How can I get the full IQE plc research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the IQE plc research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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