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.
Tony Pialis, president and CEO of Alphawave IP, said: “We are pleased to have surpassed our original bookings estimates provided during the IPO, and even our own expectations for the year. This performance reflects the strength of our pipeline, the pull from new and existing global customers, and the value of our chiplet strategy. It also reinforces our leadership position in the marketplace for the highest performance connectivity solutions in the most advanced technologies in semiconductors.”
The company said it had multiple chipset design contract wins in the North American and Chinese markets for 400G/800G/1600G (1.6T) solutions in the final quarter of 2021.
At the time of publication Alphawave’s stock is trading 52% down from its 410p IPO price.
Alphawave is headquartered in Toronto and London, with a global footprint in China, Europe and Korea.
“We first established our technology leadership in 2017 with our core IPs at 100G,” said John Lofton Holt, executive chairman of Alphawave IP. “Since then, we have diversified our roadmap and extended our leadership in 6nm, 5nm, 4nm, and with product IPs. Closing these new chiplet design wins in the fourth quarter marks another key leadership milestone for us as we diversify further into chiplet offerings to enable customer solutions at 400G, 800G, 1600G (1.6T), and beyond.”
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