LONDON, United Kingdom and TORONTO, Ontario, Canada 19 May 2023 – 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 2022.
- Invested US$439m1 of cash in the acquisitions of Precise-ITC, OpenFive and Banias Labs to extend and expand technology leadership in connectivity silicon technology.
- Technology leadership and product portfolio underpin broader customer base of 80 (FY 2021:20)
- 28 design wins with two in 3nm; 75% of Licence and NRE bookings from North American customers (FY 2021: 21%)
- Backlog excluding royalties of US$365m (FY 2021: US$169m)
- Total headcount of 695 (FY 2021: 149)
- Revenue doubled year-on-year to US$185m reflecting 33% organic growth and US$66m revenue2 from the acquisitions of Precise-ITC and OpenFive
- Operating profit of US$38m; US$36m in FY 2021
- Adjusted EBITDA2 of US$47m and adjusted EBITDA2 margin of 25% compared with US$52m and 58% in FY 2021
- EBITDA3 of US$49m above US$39m in FY 2021
- Loss after tax of US$1m compared to a profit after tax of US$9m in FY 2021
- Cash flow from operating activities before tax of US$8m (FY 2021: US$27m) including US$28m of deferred compensation payments related to the acquisitions of Precise-ITC and Banias Labs
- Net debt of US$24m following successful debt raise of US$210m to fund the acquisition of Banias Labs
- Guidance unchanged
For a detailed update and more reports, visit “Alphawave Semi Results Reports Presentations”
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