Q4 2022 Trading and Business Update

  • Expanding customer base with 8 new design wins, including 2 new top semiconductor companies

  • Strong fourth quarter design orders reflect hybrid business model combining IP and silicon

  • Second design win for optoelectronic products

  • 224G, PCI-Express Gen6, CXL3.0, HBM 3.0, and tapeouts of several key next-generation products for UCIE solutions

  • First full integration into OpenFive groups

  • Management remains confident in business prospects

  • Company name changed to Alphawave Semi to reflect expansion of business model

London When TORONTO, January 13, 2023 /CNW/ – Alphawave IP Group plc (LSE: AWE) (“Alphawave Semi”, “Alphawave”, the “Company”) is a global leader in high-speed connectivity of the world’s technology infrastructure and is able to make its deals and transactions public. I am pleased toClosed 3-month business renewal December 31, 2022.

Alphawave IP Logo (CNW Group/Alphawave IP Group Plc)

US$ million

Q4 2022

Q4 2021


Licenses and NREs




Royalties and Silicon Orders




New reservations (excluding VeriSilicon and WiseWave multi-year subscription licenses)




Additional Design Winning Activities – FSA Drawdown and China Resale License1


WiseWave Multi-Year Subscription License


Number of final customers (at the end of the period)2




Due to rounding, numbers shown in tables may not add up to totals and percentages may not accurately reflect absolute numbers.

Tony PierisAlphawave IP President and Chief Executive Officer, said: “We ended fiscal year 2022 with strong design win momentum and a rapidly expanding customer base as we are now able to serve more customers connectivity needs through both silicon IP and custom silicon. , our design-win pipeline remains strong, based on our broader product portfolio.In Q4 2022, we will realize the benefits of our hybrid business model and the potential to further monetize our high-performance IP through silicon. We also recently completed some major tape-outs of new next-generation products for 224G, HBM and UCIE-based chiplets.All of this makes us very much looking forward to the year ahead. , we are confident in the long-term growth potential of our business.”

John Lofton Holtsaid Alphawave IP Executive Chairman. “The level of bookings in the final quarter of the year reflects the growth potential of our connectivity technology and the continued strong execution of our team. His leadership underpins our long-term ambition and value creation for our shareholders and other stakeholders.”

major highlights

License and Temporary Engineering (“NRE”) bookings for Q4 2022 increased 90% year over year.Include estimates of potential future royalties3 and silicon orders, new bookings excluding WiseWave multi-year subscription licenses grew 272% year-over-year. License and NRE orders in the fourth quarter were primarily from customers in North America and APAC, with less than 10% of customers. ChinaFour.

In Q4 2022, we also secured a second design win for optoelectronic products targeting next-generation 800G Ethernet applications. This design win demonstrates the potential to create value by leveraging our strong electro-optic IP portfolio to better meet your connectivity needs.

Cumulative bookings over the life of the companyFive Beyond $580 million.

Expanding technology leadership and strong customer traction

Since 2017, we have demonstrated connectivity technology leadership at the leading edge (currently 3nm). Licenses and NRE bookings for Q4 2022 were mostly his 7nm, 5nm and 4nm. We look forward to further design successes at 3nm and continue to work with our foundry partners for 3nm and beyond.

Additionally, in Q4, we delivered silicon tapeouts of our next-generation 224G, PCI-Express Gen6, HBM3, and UCIe interface IPs on both 5nm and 4nm processes. 224G, PCI-Express Gen6, CXL3.0, HBM3, UCIe, and next-generation network, memory, and chiplet interfaces essential for AI, servers, storage, and networking devices in mass deployment by hyperscalers. With our expanded IP portfolio, we are well positioned to provide IP and custom silicon customers with complete connectivity solutions.

In Q4 2022, Alphawave has joined TSMC’s Open Innovation Platform (OIP) 3DFabric Alliance. As a founding member, Alphawave will support TSMC’s OIP and drive the new chiplet-based ecosystem to accelerate next-generation semiconductor development.

As in previous years, there were no flexible spending accounts in Q4 20226 (“FSA”) drawdown or China (VeriSilicon) Distributor transaction7Both FSA and reseller deals represent turning customer commitments into design wins.

Design win activity was strong in the quarter with eight new design wins, including four from new customers and four from repeat customers. In the quarter, in September, he scored four new custom silicon to build on the benefits of a hybrid business model. Our hybrid model enables businesses to generate greater revenue streams by maximizing the value embedded in our custom silicon products.

Alphawave currently has 7 of the top 10 semiconductor device companies as customers.8This reflects our continued strength in the data infrastructure market, which requires some of the most advanced connectivity technology in the world.


Alphawave expects 2023 revenue to $340 million To $360 million Adjusted EBITDA of approx. $87 million Midpoint of revenue guidance range.

Despite the uncertain macroeconomic environment, our growing pipeline reflects positive long-term growth trends in the data infrastructure market and continued investment in next-generation connectivity solutions. This, combined with our talented team and strong balance sheet, gives us confidence for the future.

Rebranding Alphawave IP to Alphawave Semi

Alphawave IP has been rebranded to Alphawave Semi to reflect its expansion into a vertically integrated semiconductor company. Integrating IP and silicon capabilities increases customer value and provides services for high-speed connectivity needs. The new identity will maintain the Alphawave brand that customers have come to rely on and trust. Alphawave Semi continues to extend his leadership in technology built on high-speed connectivity IP, with a mission to accelerate the critical data infrastructure at the heart of the digital world.

About Alpha Wave Semi

Alphawave Semi is a global leader in high-speed connectivity for the world’s technology infrastructure. Faced with exponential growth in data, Alphawave Semi’s technology addresses a critical need to allow data to be transferred faster, more reliably, with lower power and higher performance. We are a vertically integrated semiconductor company, and our IP, custom silicon and connectivity products are deployed by global Tier 1 customers in Data Center, Computing, Networking, AI, 5G, Autonomous Vehicles and Storage. I’m here. Founded in 2017 by a technical team with proven expertise in licensing semiconductor IP, our mission is to accelerate the critical data infrastructure at the heart of the digital world. For more information on Alphawave Semi, please visit awavesemi.com.

Related Party Disclosure

There are no new related parties disclosed in this press release.


Alphawave Semi and the Alphawave Semi logo are trademarks of Alphawave IP Group plc. all rights reserved. All registered trademarks and other trademarks belong to their respective owners.


1 Both FSA (Flexible Spending Account) drawdown and China resale license included in previously reported bookings Previously announced contractual commitments recognized as revenue over time New product designs Converts to the acquisition of

2 Including OpenFive customers who are not already Alphawave customers, but who signed the contract from the beginningst September 2022.

3 Our bookings, in some cases, include estimates of potential future royalties. Our royalties are estimated based on contractually committed royalty advances or, in limited instances, on sensitive volume quotes provided by our customers.

Four These Chinese customers are not covered by WiseWave’s VeriSilicon agreement.

Five Since its inception in 2017.

6 An FSA, or Flexible Spending Account, represents a contract with a customer that promises regular payments. These payments are not related to a specific license, but can be used as credit towards future work. FSA drawdowns represent the design winning value of trades signed during the period against which FSA payouts are credited and converted into earnings over time.

7 In February 2021, Alphawave IP signed a three-year exclusive subscription reseller agreement with VeriSilicon for a minimum of US$54 million. The reseller deal represents VeriSilicon’s subsequent licensing of his IP to third parties in China and is part of a minimum US$54 million commitment, making it an additional booking for our company. not.

8 Semiconductor device companies ranked by market capitalization.



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