Alphawave IP Group (AWE) Trading Update summary

Trading performance and bookings

• Achieved record quarterly bookings of $185.7m in Q4 2024, driven by $99.9m in new IP and NRE and $85.8m in new silicon orders.

• Annual bookings surpassed $515m, supporting long-term growth targets.

• Q4 2024 bookings rose 44% year-over-year, with silicon orders up over 1000%.

Financial outlook and guidance

• 2024 adjusted EBITDA expected to exceed $50m, with revenue at the lower end of the $310m–$330m guidance range.

• Convertible notes offering of $150m completed, strengthening the balance sheet for strategic initiatives.

Strategic and operational highlights

• Secured first silicon products revenue from the Connectivity Products Group, targeting hyperscale data centers.

• Achieved 10 new design wins in Q4, including major hyperscalers and advanced chiplet designs at 3nm.

• Joined the Ultra Accelerator Link Consortium and announced a key partnership with Rebellions Inc. for next-gen AI chiplets.