End Markets
Press Release

Interim results for the six months ended 30 June 2022

21.09.2022
  • Technology leadership and product portfolio underpin broader customer base
  • Revenue doubled year-on-year to US$57.1m
  • H1 2022 operating profit of US$29.9m compared to restated H1 2021 US$1.3m
  • Adjusted EBITDA1 up 67% year-on-year to US$23.2m
  • Adjusted EBITDA1 margin at 41%, below H1 2021, as we continue to expand our R&D capability to support a growing pipeline and future revenue growth
  • EBITDA significantly above H1 2021 at US$32.7m
  • Significant revenue growth expected in H2 2022, with medium-term outlook unchanged and continued confidence in growth prospects

LONDON, United Kingdom and TORONTO, Ontario, Canada 21 September 2022 - Alphawave IP Group plc (LSE: AWE, “Alphawave IP”, “Alphawave”, the “Company”), a global leader in high-speed connectivity for the world’s technology infrastructure, has published its interim results for the six months ended 30 June 2022.

Financial Summary and APMs1 – US$m

H1 2022

Restated H1 20212

Change

Revenue

57.1

27.6

107%

EBITDA2

32.7

2.6

nm

EBITDA margin

57%

9%

 

Adjusted EBITDA1

23.2

13.9

67%

Adjusted EBITDA margin

41%

50%

 

Profit after Tax2

16.3

0.1

nm

PAT margin

28%

nm

 

Adjusted Profit after Tax1

6.7

11.4

(41%)

Adjusted PAT margin

12%

41%

 

Pre-tax operating cash flow2

32.2

4.7

578%

Net cash and cash equivalents (end of period)

451.8

519.1

(13%)

1 See note 4 Alternative Performance Measures (APMs) on page 21. Adjusted EBITDA and Adjusted Profit after Tax exclude IPO-related non-recurring costs, foreign exchange adjustments, share-based payments, M&A transaction costs and one-time fees associated with WiseWave.

2 H1 2021 operating expenses have been restated by US$2.6m from share premium to non-recurring IPO costs. FY 2021 remains unchanged. This restatement had no impact on H1 2021 APMs. See note 23 for further information.

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