Chip designer Alphawave gets 225% sales boost following IPO woes

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www.uktech.new, Jan. 19, 2022 – 

Alphawave IP, a British-Canadian company that makes wired connectivity solutions that are embedded in semiconductors, has reported a 225% surge in sales bookings.

Sales for 2021 reached $244.7m (£180m), bolstered by the $25.5m in sales bookings during the fourth quarter. Bookings were primarily driven by North American and South Korean customers.

It follows a lacklustre public debut for the company, which listed on the London Stock Exchange in May last year only to see its shares slump by 21%.

The uptick in sales pushed Alphawave's shares up by around 10% following the company trading update published on Monday.

Founded by Tony Pialis in 2017, Alphawave IP provides technology to semiconductor companies that enables data to travel with higher performance while using less power.

Alphawave's customers include five of the top eight semiconductor companies and four global hyperscaler customers. Many are now multiple-repeat customers in chip technologies including 7nm, 6nm, 5nm, and 4nm for 400G/800G/1600G (1.6T) solutions.

Bookings were in line with the guidance that Alphawave IP provided in September, which anticipated sales would exceed $230m.

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