Full Year 2021 Results and Q1 2022 Trading Update

LONDON, United Kingdom and TORONTO, Ontario, Canada 29 April 2022 – Alphawave IP Group plc (LN:AWE, “Alphawave IP”, the “Company”), a global leader in high-speed connectivity for the world’s technology infrastructure, is pleased to publish its full year 2021 results.

Strong maiden FY results with >170% y-o-y revenue growth and continued momentum in Q1

2021 Highlights

  • Record 2021 bookings, with over 225% year-on-year growth
    – Expanded direct and indirect sales channel globally, to enable accelerated pipeline conversion
  • Record 2021 revenue (US$89.9m) and adjusted EBITDA (US$51.8m), exceeding guidance and median analyst consensus
  • Gross margins of 94% and adjusted EBITDA margins of 58%
  • Cash on balance sheet of US$0.5bn as at 31 December 2021. IPO proceeds continue to be deployed to drive growth both through organic, as well as inorganic, investments
  • Strong Q1 2022 trading with over US$30m in bookings, a 20% quarter-on-quarter sequential increase

2021 strategic highlights

  • 20 customers, up from 11 as at end FY 2020, including five of the top eight global semiconductor companies
    – Four global hyperscalers as customers – all major global hyperscalers are now in the pipeline
  • Accelerated hiring globally with 82 new hires over the year, taking global headcount to 154, in line with our strategy to scale the business
  • Over 80 IPs available today – first customer products now in production. Early royalties expected to start from 2022, ahead of schedule
  • First to demonstrate silicon success in 7nm, 6nm, 5nm and 4nm
  • First IP provider to have entire high-volume production-ready IP portfolio from 7nm to 4nm at 112Gbps in 2021. Expanding to 200G/400G/800G/1.6T at 3nm and beyond in 2022
  • First chiplet design wins with early production expected in 2022
  • Acquisition of Precise-ITC and pending acquisition of OpenFive to accelerate technology leadership and scale the business globally
  • Board remains confident in the outlook for the Group in 2022

Download the full report here