Interim results for the six months ended 30 June 2022
- Technology leadership and product portfolio underpin broader customer base
- Revenue doubled year-on-year to US$57.1m
- H1 2022 operating profit of US$29.9m compared to restated H1 2021 US$1.3m
- Adjusted EBITDA1 up 67% year-on-year to US$23.2m
- Adjusted EBITDA1 margin at 41%, below H1 2021, as we continue to expand our R&D capability to support a growing pipeline and future revenue growth
- EBITDA significantly above H1 2021 at US$32.7m
- Significant revenue growth expected in H2 2022, with medium-term outlook unchanged and continued confidence in growth prospects
LONDON, United Kingdom and TORONTO, Ontario, Canada 21 September 2022 – Alphawave IP Group plc (LSE: AWE, “Alphawave IP”, “Alphawave”, the “Company”), a global leader in high-speed connectivity for the world’s technology infrastructure, has published its interim results for the six months ended 30 June 2022.
| Financial Summary and APMs1 – US$m | H1 2022 | Restated H1 20212 | Change |
| Revenue | 57.1 | 27.6 | 107% |
| EBITDA2 | 32.7 | 2.6 | nm |
| EBITDA margin | 57% | 9% | |
| Adjusted EBITDA1 | 23.2 | 13.9 | 67% |
| Adjusted EBITDA margin | 41% | 50% | |
| Profit after Tax2 | 16.3 | 0.1 | nm |
| PAT margin | 28% | nm | |
| Adjusted Profit after Tax1 | 6.7 | 11.4 | (41%) |
| Adjusted PAT margin | 12% | 41% | |
| Pre-tax operating cash flow2 | 32.2 | 4.7 | 578% |
| Net cash and cash equivalents (end of period) | 451.8 | 519.1 | (13%) |
1 See note 4 Alternative Performance Measures (APMs) on page 21. Adjusted EBITDA and Adjusted Profit after Tax exclude IPO-related non-recurring costs, foreign exchange adjustments, share-based payments, M&A transaction costs and one-time fees associated with WiseWave.
2 H1 2021 operating expenses have been restated by US$2.6m from share premium to non-recurring IPO costs. FY 2021 remains unchanged. This restatement had no impact on H1 2021 APMs. See note 23 for further information.
