Multi Protocol Endpoint IP Core for Safe and Secure Ethernet Network
Alphawave Semi has published its audited results for the year ended 31 December 2022
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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