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RNS Number : 5579Y
Alphawave IP Group PLC
17 January 2022
Q4 2021 Trading and Business Update
- Record 2021 bookings, with over 225% growth year-on-year
- Multiple new royalty-bearing 400G/800G/1600G (1.6T) chiplet wins in Q4 2021
- Strong pipeline underpinning continued revenue growth and profitability in 2022 and beyond
LONDON, United Kingdom and TORONTO, Ontario, Canada January 17 ,
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 Q4
trading and business update, highlighting key milestones in the
last quarter of 2021.
Key highlights
- Total new bookings for Q4 2021 were US$25.5m, of which
US$18.5m are license and related, and US$7.0m are estimates of
potential future royalties. These were primarily driven by North
American and South Korean customers.
- This brings total FY2021 bookings to US$244.7m of which
US$220.8m are license and related, and US$24.0m are estimates of
potential future royalties.
- This represents over 225% year-on-year increase in total
bookings vs. FY2020, which exceeds targets set at the IPO and
surpasses the Company's increased guidance in September 2021.
- Multiple chiplet design wins closed in Q4 2021 with North American and Chinese customers for 400G/800G/1600G (1.6T) solutions, highlighting the importance of this emerging semiconductor trend.
Strong Bookings Performance in Q4 2021 and FY2021
As stated in the Q3 2021 Trading Update, Alphawave IP expected a
strong Q4 2021. The Company delivered total new bookings of
US$25.5m. The bookings were from North American and South Korean
customers with a new design win with WiseWave. As announced
previously, WiseWave is the implementation of the China Product
Partnership (CPP) that was disclosed in the Company's IPO
prospectus. WiseWave is accelerating its product development
efforts, leveraging Alphawave's IP, to develop leading edge
communication products at 400G/800G/1600G (1.6T).
As of the end of 2021, Alphawave IP is pleased to have a broad
portfolio of top-tier customers in North America and Asia. These
customers include five of the top eight semiconductor companies in
the world as well as four global hyperscaler customers. Several of
these customers are now multiple-repeat customers in technologies
including 7nm, 6nm, 5nm, and 4nm for 400G/800G/1600G (1.6T)
solutions.
New Royalty-bearing Chiplet Design Wins for 400G/800G/1600G
(1.6T) Customer Products
While sales in the first 9 months of FY2021 were largely core
and product IPs in 7nm, 6nm, 5nm, and 4nm nodes, Q4 2021 saw
further diversification with the Company closing its first chiplet
design wins. These wins were at 5nm and closed ahead of when we
expected to secure our first chiplet IP licensing deals. One of the
customers is a repeat tier-one public company in North America and
the other customer is WiseWave. Both chiplet design wins are for
advanced next-generation 400G/800G/1600G (1.6T) electrical and
optical networking products for the North American and Chinese
markets respectively. All chiplet design wins are royalty-bearing,
with initial royalties expected in 2023.
Tony Pialis, President and Chief Executive Officer of Alphawave
IP stated: "We are pleased to have surpassed our original bookings
estimates provided during the IPO, and even our own expectations
for the year. This performance reflects the strength of our
pipeline, the pull from new and existing global customers and the
value of our chiplet strategy. It also reinforces our leadership
position in the marketplace for the highest performance
connectivity solutions in the most advanced technologies in
semiconductors."
John Lofton Holt, Executive Chairman of Alphawave IP stated: "We
first established our technology leadership in 2017 with our core
IPs at 100G. Since then, we have diversified our roadmap and
extended our leadership in 6nm, 5nm, 4nm and with product IPs.
Closing these new chiplet design wins in the fourth quarter marks
another key leadership milestone for us as we diversify further
into chiplet offerings to enable customer solutions at 400G, 800G,
1600G (1.6T) and beyond."
About Alphawave IP Group plc (LSE:AWE)
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 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
Related Party Disclosures
WiseWave is a related party of Alphawave IP.
###
Trademarks
All registered trademarks and other trademarks belong to their
respective owners.
Contact Information:
Alphawave IP Group John Lofton Holt, Executive ir@awaveip.com
plc Chairman +44 (0) 20 7717 5877
Daniel Aharoni, CFO
------------------- ---------------------------- -----------------------------
Brunswick Group Simone Selzer alphawave@brunswickgroup.com
Sarah West +44 (0) 20 7404 5959
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