Alphawave Semi Audited Results for the Year Ended 31 December 2023

LONDON, United Kingdom and TORONTO, Ontario, Canada -- 23 April 2024 – 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 2023

For detailed update and more reports, visit “Alphawave Semi Financial Results”

• Technology leadership and product portfolio underpin broader customer base of 103 (FY 2022:80)
• Over 80% of FY 2023 licence and NRE bookings in advanced nodes
• Revenue up 74% year-on-year to US$322m (FY 2022: US$185m)
• Operating loss of US$19m compared to an operating profit of US$38m in FY 2022
• Adjusted EBITDA1 of US$63m and adjusted EBITDA margin of 19% compared with US$47m and 25% in FY 2022
• EBITDA1 of US$10m, down from US$49m in FY 2022
• Cash generated from operations of US$25m (Restated FY 2022: US$1m)
• Cash and cash equivalents balance of US$101m; Net debt of US$119m