Alphawave Semi: Interim results for the six months ended 30 June 2023

LONDON, United Kingdom and TORONTO, Ontario, Canada, 25 September 2023 – Alphawave IP Group plc (LSE: AWE, “Alphawave Semi”, the “Company”), a global leader in high-speed connectivity for the world’s technology infrastructure, has published its interim results for the six months ended 30 June 2023.

Highlights

• Technology leadership and product portfolio underpin broader customer base of 85 (H1 2022: 28)
• 16 design wins; 91% of Licence and NRE bookings from North American, EMEA and APAC (exc. China) customers
• Bookings up 251% year-on-year to US$187m. Backlog excluding royalties of US$365m (FY 2022: US$365m)
• Revenue up 228% year-on-year to US$187m including contribution from the acquisition of OpenFive
• Adjusted EBITDA1 of US$32m and adjusted EBITDA margin of 17% (H1 2022: US$23m and 41%) reflect R&D investment and change in business mix including silicon
• H1 2023 operating loss of US$3m compared to H1 2022 operating profit of US$30m
• Cash outflow from operating activities of US$31m (H1 2022: US$32m cash inflow)
• Net debt1 of US$100m (H1 2022: net cash US$452m)
• FY 2023 outlook unchanged with increased profitability expected in H2 2023. Medium-term outlook unchanged and continued confidence in growth prospects

¹ _{See note 4 Alternative Performance Measures (APMs). Adjusted EBITDA and Adjusted Profit after Tax exclude foreign exchange
adjustments, share-based payments, deferred compensation payments, and M&A transaction costs.}

_{² Bookings are a non-IFRS measure representing legally binding and largely non-cancellable commitments by customers to license our technology. Bookings comprise licence fees, non-recurring engineering, support, silicon orders, and, in some instances, our estimates of potential future royalties.}

Click here to read more ...