This announcement contains inside information for the purpose of Article 7 of the Market Abuse Regulation (EU) No 596/2014
Alphawave IP Trading Update
Record Results with Over $190M in Bookings in H1 2021 to-date, multiple Tier 1 design wins and major subscription license agreed
- Strategic design wins with Tier-1 North American hyperscaler1, 5G, and communications OEM customers
- Multiple repeat wins with 112G core and product IPs
- Year to date bookings of over US$190 million
- Follows US$82 million of bookings in Q1 2021 and US$75 million in FY2020
- All definitive agreements for China Product Partnership (CPP) executed with first revenues expected to be recognised in H2 2021
LONDON, United Kingdom and TORONTO, Canada June 14, 2021 – Alphawave IP (LN:AWE or “the Group”), a global leader in high-speed connectivity for the world’s technology infrastructure, today publishes a Trading Update on its performance for H1 2021. The Group is pleased to announce that total bookings year to date have exceeded $190 million ($15 million of estimated royalties) which is the Group’s strongest-ever first half performance. This follows a record $82 million of bookings in Q1 2021 and bookings of $75 million in FY2021 (of which $8 million and $23 million, respectively, are estimated royalties).
Tony Pialis, President and Chief Executive Officer of Alphawave IP said:
“I am pleased that we have delivered another record quarter of bookings in 2021 driven by several strategic design wins with new and existing Tier 1 North American customers in 5G wireless communication products for our core IP and product IP offerings. In addition, Alphawave IP was selected by one of the largest hyperscaler companies in the world to provide its solutions. The team has done a great job continuing to execute on our business goals while successfully completing our IPO on the London Stock Exchange in May and raising $500m in proceeds to fund the group’s continued growth and global expansion.”
John Lofton Holt, Executive Chairman of Alphawave IP commented:
“We are very pleased to share our successes so far this year, and to deliver on the promises that we made to the market and to our investors earlier this year. The Group is continuing to scale and grow rapidly as it solves the most difficult connectivity challenges for the most technically sophisticated companies in the world.”
The Group also executed all definitive agreements for the China Product Partnership (CPP), which is expected to contribute to subscription licensing revenues starting in H2 2021. The new bookings will underpin revenue growth in this financial year and beyond, and thus further supports management’s confidence in the current short and medium term guidance.
About Alphawave IP
Faced with the exponential growth of data, Alphawave IP’s technology services a critical need: enabling data to travel faster, more reliably and with higher performance at lower power. Alphawave IP is a global leader in high-speed connectivity for the world’s technology infrastructure. Our IP solutions therefore meet the needs of global tier-one customers in data centers, compute, networking, AI, 5G, autonomous vehicles, and storage. Founded in Toronto, Canada in 2017, by an expert technical team with a proven track record in licensing semiconductor IP, our mission is to focus on the hardest-to-solve connectivity challenges. To find out more about Alphawave IP, visit: awaveip.com
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John Lofton Holt (Executive Chairman)
Daniel Aharoni (CFO)
+44 (0) 20 7717 5877
|Media (Brunswick Group)
+44 (0) 20 7404 5959
This announcement does not constitute an offer of securities by Alphawave IP Group plc (the “Company”). Nothing herein shall be taken as constituting investment advice and it is not intended to provide, and must not be taken as, the basis of any decision and should not be considered as a recommendation to acquire any securities of the Company. Nothing in this announcement is intended to be, or intended to be construed as, a profit forecast of the Company or any of its subsidiaries (together, the “Group”) whether in the current or any future financial year. This announcement may include statements that are, or may be deemed to be, ”forward-looking statements”. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond the Company’s or the Group’s ability to control or predict. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, such as general economic and business conditions, relationships with customers, competition and ability to attract personnel. Forward-looking statements are not guarantees of future performance. You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. Other than in accordance with its legal or regulatory obligations, the Company does not accept any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
1Hyperscalers are technology companies that provide cloud, networking and internet services at scale. Examples of hyperscalers include Google, Facebook, Alibaba, Microsoft, and Amazon