Alphawave reports some strong growth in June quarter

(Sharecast News) - Connectivity technology specialist Alphawave reported significant growth across various metrics in the June quarter on Thursday. The London-listed company said it experienced an increase in licence and non-recurring engineering (NRE) revenue, amounting to a 150% rise to $47.7m.

Additionally, royalties and silicon orders surged 290%, reaching $36.4m.

The company also witnessed a substantial boost in new bookings, excluding VeriSilicon and WiseWave multi-year subscription licences, which climbed 196% to $84.1m.

Despite those impressive gains, there was a decline of 64% in additional design win activity, to $34million revenue.

The company said its customer base expanded significantly during the quarter, securing eight new design wins.

They included four custom silicon design wins and four IP licence design wins.

Notably, Alphawave achieved its first-ever 3nm custom silicon design win with its 224G SerDes IP.

The quarter also saw an additional 3nm IP licensing design win and three chiplet-based design wins.

"We saw continued strong sales momentum during the quarter for our leading connectivity technology," said president and chief executive officer Tony Pialis.

"We achieved some exciting new wins such as our first 3nm custom silicon coherent DSP with our 224G SerDes IP enabling 800G/1.6T connectivity in data centres, as well as a repeat design win on an AI accelerator.

"Customers' demand for our high-performance IP and products supports our strong pipeline - we are excited about the year ahead and the long-term continued growth potential of our business."

At 0932 BST, shares in Alphawave IP Group were up 3.09% at 160p.

Reporting by Josh White for Sharecast.com.