18th Oct 2022 06:59
(Corrects figures that are booking, not revenue.)
(Alliance News) - Alphawave IP Group PLC on Monday reported growing bookings in its third quarter as licensing and royalties surged.
Alphawave is a London-based connectivity technology provider.
In the three months that ended September 30, licence & non-recurring engineering bookings surged to USD57.8 million from USD21.5 million a year prior. Royalties & silicon orders grew to USD22.2 million from USD1.8 million.
Non-recurring engineering encompasses one-time research cost, design, development and testing a new product or product change.
Alphawave said it is confident in its mid-term and long-term guidance, despite a difficult macro environment.
"Based on current visibility, the company expects continued customer traction during the last quarter of the year," it said.
It reiterated guidance excluding an acquisition it announced last Thursday. In April, the firm said it expects financial year 2023 revenue of USD325 million to USD360 million, a steep rise from USD89.9 million in financial year 2021.
In the first half of 2022, Alphawave reported a revenue of USD57.1 million, up from USD27.6 million a year ago.
Last Thursday, the company said it had bought Banias Labs for USD240 million, strengthening its potential USD300 million roadmap. Banias Labs is an Israel-based optical digital signal processing chip, or DSP, developer for data centres. Alphawave said the acquisition strengthens its roadmap of optical DSP silicon products for data centres, which is one of its core high growth markets.
Alongside the acquisition, Alphawave said it has negotiated a non-binding, multi-year purchasing framework with a "North American hyperscaler".
The agreement proposes a multi-year roadmap for Alphawave to develop and sell a portfolio of optical products and DSPs, including coherent DSP technology from Banias Labs.
By Tom Budszus; [email protected]
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