TIDMAWE
RNS Number : 6056M
Alphawave IP Group PLC
13 January 2023
ALPHAWAVE IP GROUP PLC
Capital Markets Day 2023 - Alphawave to outline long-term
strategy and financial targets
LONDON, United Kingdom and TORONTO, Ontario, Canada 13 January
2023 - Alphawave IP Group plc (LSE: AWE, "Alphawave", the
"Company"), today will host its inaugural Capital Markets Day for
investors and financial analysts in London. At the event, the
management team will present the Company's long-term business
strategy and financial targets as it enters the next stage of
technology leadership in connectivity for digital infrastructure
markets. The company also announced a rebrand of its corporate
identity, including a new logo, updated visual brand elements, and
a new company brand: Alphawave Semi.
Following a period of investment into the expansion of the team
and capabilities in alignment with the goals outlined during the
Company's IPO in 2021, Alphawave plans to create long-term
shareholder value by:
-- Extending and expanding its technology leadership in connectivity silicon technology;
-- Transforming into a vertically integrated semiconductor
company by further monetising its IP through business opportunities
in custom silicon and other connectivity products;
-- Addressing more of the customer's connectivity needs in
high-growth digital infrastructure markets, including data centers.
Alphawave estimates its addressable market will grow at 20% CAGR
over the period 2023-2026; and
-- Maintaining a disciplined capital allocation and a strong
focus on improving operational efficiency over the next two
years.
Despite the uncertain macroeconomic environment, our growing
pipeline reflects positive secular growth trends in data
infrastructure markets and the continued investment in next
generation connectivity solutions. This combined with our talented
team and strong balance sheet gives us confidence in our
future.
For the full year 2023, Alphawave expects to maintain its
high-growth trajectory while completing the integration of the
recent acquisitions. The Company expects for the FY 2023:
-- Revenue within a range of US$340m to US$360m
-- Adjusted EBITDA of approximately US$87m at the mid-point of
the revenue guidance range, representing an adjusted EBITDA margin
of c.25%
By FY2025, Alphawave targets operating within the following
financial model:
-- Revenue CAGR in line with its addressable market of
approximately 20%, representing approximately US$500m revenue run
rate by 2025
-- Gross margin of c.60%
-- Adjusted operating expenses as a percentage of revenue of c.30%
-- Adjusted EBITDA margin of c.30%, representing approximately US$150m adjusted EBITDA [1]
Tony Pialis, President and Chief Executive Officer of Alphawave
said: "We are building a leading connectivity business on the
foundations of our high-performance IP. Our focus is on executing
our vision with an expanded connectivity portfolio addressing more
of our customers' connectivity needs. With a team of almost 700
employees, we are excited about the opportunities ahead and the
long-term potential of the business."
John Lofton Holt, Executive Chairman of Alphawave, added: "Today
we announced a new brand for our company, Alphawave Semi, which
reflects our ambition since IPO - to build the leading
vertically-integrated semiconductor company focused on connectivity
solutions. We are committed to generating shareholder value and we
are confident that all of our stakeholders will be rewarded as we
successfully execute our long-term strategy and continue to deliver
for our customers."
Capital Markets Day
The Company is today hosting its first Capital Markets Day in
London.
Live Broadcast
The event will be broadcast live from 09:00 am GMT via:
https://www.lsegissuerservices.com/spark/ALPHAWAVEIPGROUP/events/7aadd13f-2514-47e1-8281-baced5bae5e8
A recording of the event will also be available to view in the
Investor Relations section of the Company's
website Results, Reports & Presentations - Alphawave Semi
About Alphawave Semi
Alphawave Semi is a global leader in high-speed connectivity for
the world's technology infrastructure. Faced with the exponential
growth of data, Alphawave Semi's technology services a critical
need: enabling data to travel faster, more reliably and with higher
performance at lower power. We are a vertically integrated
semiconductor company, and our IP, custom silicon, and connectivity
products are deployed by global tier-one customers in data centers,
compute, networking, AI, 5G, autonomous vehicles, and storage.
Founded in 2017 by an expert technical team with a proven track
record in licensing semiconductor IP, our mission is to accelerate
the critical data infrastructure at the heart of our digital world.
To find out more about Alphawave Semi, visit: awavesemi.com
Alphawave Semi and the Alphawave Semi logo are trademarks of
Alphawave IP Group plc. All rights reserved.
Contact Information
Alphawave IP Group John Lofton Holt, Executive ir@awaveip.com
plc Chairman +44 (0) 20 7717 5877
Jose Cano, Head of IR
------------------- ---------------------------- -----------------------------
Brunswick Group Simone Selzer alphawave@brunswickgroup.com
Sarah West +44 (0) 20 7404 5959
------------------- ---------------------------- -----------------------------
Gravitate PR Lisette Paras alphawave@gravitatepr.com
Wynton Yu +1 415 528 0468
=================== ============================ =============================
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obligation to update any forward-looking statements contained in
this document, whether as a result of new information, future
events or otherwise.
[1] Calculated based on US$500m revenue
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