- Expanding technology leadership with first 3nm design win
- Five new end-customers including four in North America and EMEA, as well as six new design wins
- Management remains confident in the outlook for the business and reiterates mid-term and long-term guidance, despite difficult macro environment
- Management reiterates confidence in closing of OpenFive transaction in 2022, pending regulatory approval
LONDON, United Kingdom and TORONTO, Ontario, Canada July 19, 2022 – Alphawave IP Group plc (LN:AWE, “Alphawave IP”, “Alphawave”, the “Company”), a global leader in high-speed connectivity for the world’s technology infrastructure, is pleased to publish its trading and business update for the three months ended 30 June 2022.
|US$m||Q2 2022||Q2 2021||Change|
|Licence and related||19.0||12.7||50%|
|Potential future royalties||9.4||7.3||27%|
|New Bookings (excluding VeriSilicon and WiseWave multi-year subscription licences)||28.4||20.0||42%|
|Additional design win activity – FSA drawdowns and China re-sale licences||9.5||–||n/a|
|WiseWave multi-year subscription licences||–||93.8||n/a|
|Number of end-customers (as at end of period)||28||16|
Due to rounding, numbers presented in the table may not add up to the totals provided and percentages may not precisely reflect the absolute figures.
Tony Pialis, President and Chief Executive Officer of Alphawave IP said: “Our increased pace in design wins and our continued technology leadership in 3nm demonstrate the strong momentum of Alphawave IP. Despite an uncertain macro environment, positive secular growth trends in data infrastructure, such as data centers and 5G, underpin a growing demand for our high-performance connectivity solutions. This is why we continue to invest in the business and remain confident about its long-term prospects.”
John Lofton Holt, Executive Chairman of Alphawave IP said: “I am proud of our business and technology team for their continued execution, especially in North America and South Korea. Our focus on connectivity technology for our blue-chip customer base, and a strong balance sheet, provide a solid platform for continued success.”
Both FSA (Flexible Spending Account) drawdowns and China re-sale licences convert previously announced contractual commitments included within bookings reported in prior periods to new product design wins which will be recognised as revenue over time.