Alphawave second quarter sales rise; maintains guidance for 2023

(Alliance News) - Alphawave IP Group PLC on Thursday said sales soared in the second quarter of ...

Alliance News 20 July, 2023 | 10:40AM
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(Alliance News) - Alphawave IP Group PLC on Thursday said sales soared in the second quarter of 2023, driven by strong orders from North American customers.

The London-based company designing high-speed connectivity solutions said second quarter licence and non-recurring engineering sales were USD47.7 million, more than doubling from USD19.0 million in the second quarter of 2022.

Royalties and silicon orders multiplied to USD36.4 million from USD89.4 million a year ago. Silicon orders were driven by pre-existing custom silicon designs for North American and Chinese clients, the firm said.

The firm also noted that new bookings accounted for USD84.1 million, tripling from USD28.4 million, while additional design win activity was USD3.4 million, down 64% from USD9.5 million. North American customers accounted for two-thirds of new bookings during the second quarter.

Alphawave said its outlook for 2023 remains unchanged, with Alphawave Semi expecting revenue between USD340 million and USD360 million, as well as adjusted earnings before interest, tax, depreciation and amortisation of USD87 million, up from USD53.8 million in 2022.

Chief Executive Officer Tony Pialis commented: "We saw continued strong sales momentum during the quarter for our leading connectivity technology. We achieved some exciting new wins such as our first 3 [nanometres] custom silicon coherent [digital signal processor] with our 224G SerDes IP enabling 800G/1.6T connectivity in data centres, as well as a repeat design win on an AI accelerator.

"Customers' demand for our high-performance IP and products supports our strong pipeline. We are excited about the year ahead and the long-term continued growth potential of our business."

Alphawave shares rose 1.9% to 158.16 pence each on Thursday morning in London.

By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Alphawave IP Group PLC Ordinary Shares 129.40 GBX 4.86 -

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