- News & Views
- Full Year 2021 Results and Q1 2022 Trading Update
Press Release
Full Year 2021 Results and Q1 2022 Trading Update
29.04.2022
LONDON, United Kingdom and TORONTO, Ontario, Canada 29 April 2022 – Alphawave IP Group plc (LN:AWE, “Alphawave IP”, the “Company”), a global leader in high-speed connectivity for the world’s technology infrastructure, is pleased to publish its full year 2021 results.
Strong maiden FY results with >170% y-o-y revenue growth and continued momentum in Q1
2021 Highlights
- Record 2021 bookings, with over 225% year-on-year growth
- Expanded direct and indirect sales channel globally, to enable accelerated pipeline conversion - Record 2021 revenue (US$89.9m) and adjusted EBITDA (US$51.8m), exceeding guidance and median analyst consensus
- Gross margins of 94% and adjusted EBITDA margins of 58%
- Cash on balance sheet of US$0.5bn as at 31 December 2021. IPO proceeds continue to be deployed to drive growth both through organic, as well as inorganic, investments
- Strong Q1 2022 trading with over US$30m in bookings, a 20% quarter-on-quarter sequential increase
2021 strategic highlights
- 20 customers, up from 11 as at end FY 2020, including five of the top eight global semiconductor companies
- Four global hyperscalers as customers – all major global hyperscalers are now in the pipeline - Accelerated hiring globally with 82 new hires over the year, taking global headcount to 154, in line with our strategy to scale the business
- Over 80 IPs available today – first customer products now in production. Early royalties expected to start from 2022, ahead of schedule
- First to demonstrate silicon success in 7nm, 6nm, 5nm and 4nm
- First IP provider to have entire high-volume production-ready IP portfolio from 7nm to 4nm at 112Gbps in 2021. Expanding to 200G/400G/800G/1.6T at 3nm and beyond in 2022
- First chiplet design wins with early production expected in 2022
- Acquisition of Precise-ITC and pending acquisition of OpenFive to accelerate technology leadership and scale the business globally
- Board remains confident in the outlook for the Group in 2022