Alphawave Semi has published its audited results for the year ended 31 December 2022

LONDON, United Kingdom and TORONTO, Ontario, Canada 19 May 2023 – Alphawave IP Group plc (LSE: AWE, the “Company” or “Alphawave Semi”), a global leader in high-speed connectivity for the world’s technology infrastructure, has published its results for the year ended 31 December 2022.

• Invested US$439m¹ of cash in the acquisitions of Precise-ITC, OpenFive and Banias Labs to extend and expand technology leadership in connectivity silicon technology.
• Technology leadership and product portfolio underpin broader customer base of 80 (FY 2021:20)
• 28 design wins with two in 3nm; 75% of Licence and NRE bookings from North American customers (FY 2021: 21%)
• Backlog excluding royalties of US$365m (FY 2021: US$169m)
• Total headcount of 695 (FY 2021: 149)
• Revenue doubled year-on-year to US$185m reflecting 33% organic growth and US$66m revenue² from the acquisitions of Precise-ITC and OpenFive
• Operating profit of US$38m; US$36m in FY 2021
• Adjusted EBITDA² of US$47m and adjusted EBITDA² margin of 25% compared with US$52m and 58% in FY 2021
• EBITDA³ of US$49m above US$39m in FY 2021
• Loss after tax of US$1m compared to a profit after tax of US$9m in FY 2021
• Cash flow from operating activities before tax of US$8m (FY 2021: US$27m) including US$28m of deferred compensation payments related to the acquisitions of Precise-ITC and Banias Labs
• Net debt of US$24m following successful debt raise of US$210m to fund the acquisition of Banias Labs
• Guidance unchanged

For a detailed update and more reports, visit “Alphawave Semi Results Reports Presentations”