29th Sep 2025 12:17
(Alliance News) - Alphawave IP Group PLC on Monday reported higher revenue but a wider loss during the first half of the year, as it prepares for its takeover by Qualcomm Inc.
The Leeds, England-based high-speed connectivity solutions firm said revenue climbed 13% to USD103.0 million in the six months to the end of June from USD91.0 million a year before, while pretax loss widened to USD178.0 million from USD49.9 million.
Bookings excluding royalties as at June 30 decreased 29% to USD159.4 million from USD225.3 million a year prior. Alphawave noted that underlying demand for its technology and products remains "strong" but bookings were hurt by customer uncertainty after the announcement in early April of Alphawave's recommended takeover by San Diego, California-based semiconductor maker Qualcomm.
Research & development costs increased 65% to USD65.1 million from USD39.4 million, while other operating expenses multiplied to USD109.9 million from USD19.6 million.
Out of the USD109.9 million other operating costs for the first half of 2025, USD44.1 million were related to the acquisition by Qualcomm.
Alphawave IP had agreed to a USD2.4 billion takeover from Qualcomm in June, which it expects to complete in the first quarter of 2026.
"Since announcing the agreement for the recommended acquisition of the group by Qualcomm, which values the group at an implied enterprise value of approximately USD2.4 billion, we have continued to deliver against our strategy and maintain strong momentum in the business," said Chief Executive Officer Tony Pialis.
Alphawave shares were 1.0% lower at 187.92 pence on Monday afternoon in London. Qualcomm was up 0.2% to USD169.47 in pre-market trade in New York.
By Tom Budszus, Alliance News slot editor
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