Alphawave IP Group plc has published its financial results for the six months to June 30, 2021 having raised net proceeds of £347.1 million (about US$492.1 million) by an IPO on the London Stock Exchange in March.
The company made an EBITDA profit [earnings before income tax, deprecation and amortization] of US$13.9 million on revenue of US$27.6 million. This more than doubled results from the same period a year before when the private company made US$6.3 million on revenue of US$11.5 million.
However, Alphawave's bookings in 1H21 were an exceptional US$196.1 million, more than 490 percent growth compared to 1H20, up 460 percent excluding royalties.
The company raised full year guidance forecasting 2021 bookings to be more than US$230 million reflecting multi-year subscription deals and multiple design US wins expected in 2H21. The full year revenue is now expected to be US$75 million, representing over 125 percent year-on-year growth
"“The first half of 2021 was a breakout period for us, with exceptional growth in revenue and bookings which underpins our confidence in raising full year guidance. The strength of demand for our market-leading IP, combined with the platform provided by our successful IPO, will enable us to continue to expand our leadership position in the connectivity space and sustain our long-term growth trajectory," said Tony Pialis, CEO of Alphawave IP, in a statement.
Alphawave said that five of the top eight global semiconductor companies are now licensees of its IP with design wins on 6 and 5nm and the world's first successful tapeout of 100G+ connectivity IP in 4nm technology.
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