LONDON and TORONTO, Jan. 13,
2023 /PRNewswire/ - 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
EBITDA1
1 Calculated
based on US$500m revenue
|
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.
Cautionary statement regarding forward-looking
statements
This document may contain forward-looking statements which
are made in good faith and are based on current expectations or
beliefs, as well as assumptions about future events. You can
sometimes, but not always, identify these statements by the use of
a date in the future or such words as "will", "anticipate",
"estimate", "expect", "project", "intend", "plan", "should", "may",
"assume" and other similar words. By their nature, forward-looking
statements are inherently predictive and speculative and involve
risk and uncertainty because they relate to events and depend on
circumstances that will occur in the future. You should not place
undue reliance on these forward-looking statements, which are not a
guarantee of future performance and are subject to factors that
could cause our actual results to differ materially from those
expressed or implied by these statements. The Company undertakes no
obligation to update any forward-looking statements contained in
this document, whether as a result of new information, future
events or otherwise.
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SOURCE Alphawave IP Group Plc