Alphawave Semi had H1 revenues up 228% y-o-y to $187 million for an EBITDA of $32  million at a margin of 17% compared with $23 million and 41% in H1 2022.

The H1 2023 operating loss was $3 million. In H1 2002, it was $30 million.

The H1 2023 cash outflow from operating activities was $31 million. In H1 2022 it was $32 million.

Net debt in H1 2023 was $100 million.In H1 2022 the company had net cash of $452 million.

H1 2023 bookings were up 251% y-o-y to $187 million and backlog, excluding royalties, was $365 million.

For the full year, Alphawave  expects  revenue of $340m to $360m and adjusted EBITDA of approximately $87m (or approximately 25% of revenue).

“We are successfully executing on our strategy, with the business offering a growing range of advanced connectivity solutions that enable the next generation of AI and cloud infrastructure,” says CEOnTony Pialis, “in H1 2023 we delivered a good set of results, scaling our business and investing organically to support our pipeline and future revenue growth. Our leading connectivity technology and strong execution give us confidence in the prospects for our business.”