Alphawave IP flags another strong quarter
By Josh White
Date: Tuesday 22 Oct 2024
(Sharecast News) - Alphawave IP reported a robust third-quarter performance on Tuesday, marking the fourth consecutive quarter with bookings exceeding $100m.
The London-listed firm said total new bookings for the quarter reached $103.5m - a 43% increase year-on-year, driven by strong growth in IP licensing and chiplet design wins.
Licence and non-recurring engineering (NRE) bookings surged 119% to $93.8m, while royalties and silicon orders declined 64% to $10.7m.
The company highlighted its continued success in securing design wins, with five new projects from both existing and new customers across key connectivity and compute markets.
It said the design wins included cutting-edge 4nm and 3nm technology, featuring Arm-based chiplets utilising UCIe IP.
Alphawave also expanded its partnership with Samsung foundry, winning two new design contracts.
Additionally, two new design wins were secured in the data centre optical connectivity market.
"For the first time, we have secured over $100m per quarter in new bookings over an entire year," said president and chief executive officer Tony Pialis.
"This is a major sales milestone for the Company as we scale all our revenue streams."
Pialis said that in addition to consistent strength in IP licensing and NRE, the company also saw repeat and multiple design wins with chiplets leveraging the Arm UCIe IP.
"We are also pleased to have received the prestigious TSMC OIP Partner of the Year award for the fifth year straight.
"This is the ultimate validation of our continued technology leadership in connectivity."
At 1012 BST, shares in Alphawave IP Group were up 17.14% at 112.92p.
Reporting by Josh White for Sharecast.com.
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