Alphawave IP Group Reports Strong Q2 Performance and Reaffirms Guidance

by webmaster

Impressive Sales Momentum

During the second quarter, Alphawave saw a significant increase in license and NRE bookings, reaching $47.7 million compared to $19 million the previous year. This surge in bookings can be attributed to the continued strong sales momentum of the company’s connectivity technology.

Additionally, royalties and silicon orders experienced substantial growth, rising from $9.4 million to $36.4 million year-over-year. The increase in silicon orders was primarily driven by preexisting custom designs for clients in North America and China.

New Bookings and Strong Customer Base

Alphawave also announced new bookings totaling $84.1 million, a substantial increase from $28.4 million in the previous year. These bookings were largely driven by customers in North America, further highlighting the company’s strong presence in the region.

Confident in Future Growth

Looking ahead, Alphawave remains optimistic about its future prospects. The company expects revenue for 2023 to fall within the range of $340 million to $360 million, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) estimated at approximately $87 million, or roughly 25% of revenue.

Despite the uncertain macroeconomic environment, Alphawave’s growing pipeline reflects positive secular growth trends in data infrastructure markets and the continued investment in next-generation AI-centric connectivity solutions. The company’s talented team and strong balance sheet further contribute to its confidence in the future.

About Alphawave IP Group

Alphawave IP Group is a London-listed high-speed connectivity company that specializes in providing innovative technological solutions. With its impressive sales performance and strong market presence, Alphawave continues to cement its position as a leader in the industry.

Shares at 0819 GMT were up 2.60 pence, or 1.7%, at 157.80 pence.

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