TIDMAWE
RNS Number : 7148B
Alphawave IP Group PLC
14 June 2021
This announcement contains inside information for the purpose of
Article 7 of the Market Abuse Regulation (EU) No 596/2014.
Alphawave IP Trading Update
Record Results with Over $190M in Bookings in H1 2021 to-date,
multiple Tier 1 design wins and major subscription license
agreed
-- Strategic design wins with Tier-1 North American
hyperscaler[1], 5G, and communications OEM customers
-- Multiple repeat wins with 112G core and product IPs
-- Year to date bookings of over US$190 million
-- Follows US$82 million of bookings in Q1 2021 and US$75
million in FY2020
-- All definitive agreements for China Product Partnership (CPP)
executed with first revenues expected to be recognised in H2
2021
LONDON, United Kingdom and TORONTO, Canada June 14 , 2021 -
Alphawave IP (LN:AWE or "the Group"), a global leader in high-speed
connectivity for the world's technology infrastructure, today
publishes a Trading Update on its performance for H1 2021. The
Group is pleased to announce that total bookings year to date have
exceeded $190 million ($15 million of estimated royalties) which is
the Group's strongest-ever first half performance. This follows a
record $82 million of bookings in Q1 2021 and bookings of $75
million in FY2021 (of which $8 million and $23 million,
respectively, are estimated royalties).
Tony Pialis, President and Chief Executive Officer of Alphawave
IP said:
"I am pleased that we have delivered another record quarter of
bookings in 2021 driven by several strategic design wins with new
and existing Tier 1 North American customers in 5G wireless
communication products for our core IP and product IP offerings. In
addition, Alphawave IP was selected by one of the largest
hyperscaler companies in the world to provide its solutions. The
team has done a great job continuing to execute on our business
goals while successfully completing our IPO on the London Stock
Exchange in May and raising $500m in proceeds to fund the group's
continued growth and global expansion."
John Lofton Holt, Executive Chairman of Alphawave IP
commented:
"We are very pleased to share our successes so far this year,
and to deliver on the promises that we made to the market and to
our investors earlier this year. The Group is continuing to scale
and grow rapidly as it solves the most difficult connectivity
challenges for the most technically sophisticated companies in the
world."
The Group also executed all definitive agreements for the China
Product Partnership (CPP), which is expected to contribute to
subscription licensing revenues starting in H2 2021. The new
bookings will underpin revenue growth in this financial year and
beyond, and thus further supports management's confidence in the
current short and medium term guidance.
About Alphawave IP
Faced with the exponential growth of data, Alphawave IP's
technology services a critical need: enabling data to travel
faster, more reliably and with higher performance at lower power.
Alphawave IP is a global leader in high-speed connectivity for the
world's technology infrastructure. Our IP solutions therefore meet
the needs of global tier-one customers in data centers, compute,
networking, AI, 5G, autonomous vehicles, and storage. Founded in
Toronto, Canada in 2017, by an expert technical team with a proven
track record in licensing semiconductor IP, our mission is to focus
on the hardest-to-solve connectivity challenges. To find out more
about Alphawave IP, visit: awaveip.com
###
Trademarks
All registered trademarks and other trademarks belong to their
respective owners. PCI-SIG, PCI Express and PCIe are trademarks or
registered trademarks of PCI-SIG.
Contact Information:
Investors ir@awaveip.com
John Lofton Holt (Executive Chairman) +44 (0) 20 7717 5877
Daniel Aharoni (CFO)
Media (Brunswick Group) alphawave@brunswickgroup.com
Simone Selzer +44 (0) 20 7404 5959
Diana Vaughton
Caroline Daniel
Cautionary statement
This announcement does not constitute an offer of securities by
Alphawave IP Group plc (the "Company"). Nothing herein shall be
taken as constituting investment advice and it is not intended to
provide, and must not be taken as, the basis of any decision and
should not be considered as a recommendation to acquire any
securities of the Company. Nothing in this announcement is intended
to be, or intended to be construed as, a profit forecast of the
Company or any of its subsidiaries (together, the "Group") whether
in the current or any future financial year. This announcement may
include statements that are, or may be deemed to be,
"forward-looking statements". By their nature, forward-looking
statements involve risks and uncertainties because they relate to
events and depend on circumstances that may or may not occur in the
future and may be beyond the Company's or the Group's ability to
control or predict. There are a number of factors that could cause
actual results and developments to differ materially from those
expressed or implied by these forward-looking statements, such as
general economic and business conditions, relationships with
customers, competition and ability to attract personnel.
Forward-looking statements are not guarantees of future
performance. You are cautioned not to rely on these forward-looking
statements, which speak only as of the date of this announcement.
Other than in accordance with its legal or regulatory obligations,
the Company does not accept any obligation to update or revise
publicly any forward-looking statement, whether as a result of new
information, future events or otherwise.
[1] Hyperscalers are technology companies that provide cloud,
networking and internet services at scale. Examples of hyperscalers
include Google, Facebook, Alibaba, Microsoft, and Amazon
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END
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June 14, 2021 02:00 ET (06:00 GMT)
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