Alphawave IP: Interim results for the six months ended 30 June 2022

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.

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