Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Alphawave IP Group PLC reported a comfortable climb in new bookings in the third quarter, with the company hitting a milestone.
The London-based designer of high-speed connectivity solutions said new bookings surged 43% to $104.5 million in the third quarter of 2024 from $72.9 million a year ago.
Alphawave shares jumped 17% to 112.97 pence each on Tuesday morning in London.
The company trades as Alphawave Semi.
‘For the first time, we have secured over $100 milliom per quarter in new bookings over an entire year. This is a major sales milestone for the company as we scale all our revenue streams,’ said Tony Pialis, chief executive officer of Alphawave Semi.
Bookings via licence and non-recurring engineering fees more than doubled to $93.8 million from $42.9 million, while royalties & silicon orders fell 64% to $10.7 million from $30.1 million.
John Holt, executive chair of Alphawave Semi, said: ‘2024 has been a transition year for the company, as anticipated. Now this transition is playing out favourably in the numbers. Our continued momentum gives us strong confidence in our mid-term guidance and underpins our ambition for $1 billion revenue run rate in 2027.’
Copyright 2024 Alliance News Ltd. All Rights Reserved.