Connectivity IP licensor posts strong growth in maiden results
Alphawave IP Group plc has published its financial results for the six months to June 30, 2021 having raised net proceeds of £347.1 million (about US$492.1 million) by an IPO on the London Stock Exchange in March.
The company made an EBITDA profit [earnings before income tax, deprecation and amortization] of US$13.9 million on revenue of US$27.6 million. This more than doubled results from the same period a year before when the private company made US$6.3 million on revenue of US$11.5 million.
However, Alphawave’s bookings in 1H21 were an exceptional US$196.1 million, more than 490 percent growth compared to 1H20, up 460 percent excluding royalties.
The company raised full year guidance forecasting 2021 bookings to be more than US$230 million reflecting multi-year subscription deals and multiple design US wins expected in 2H21. The full year revenue is now expected to be US$75 million, representing over 125 percent year-on-year growth
““The first half of 2021 was a breakout period for us, with exceptional growth in revenue and bookings which underpins our confidence in raising full year guidance. The strength of demand for our market-leading IP, combined with the platform provided by our successful IPO, will enable us to continue to expand our leadership position in the connectivity space and sustain our long-term growth trajectory,” said Tony Pialis, CEO of Alphawave IP, in a statement.
Alphawave said that five of the top eight global semiconductor companies are now licensees of its IP with design wins on 6 and 5nm and the world’s first successful tapeout of 100G+ connectivity IP in 4nm technology.
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