Alphawave Ip Group Plc (GB:AWE) has released an update.
Alphawave IP Group Plc, a leader in high-speed connectivity for global tech infrastructure, reported a 74% revenue jump to US$322m in FY 2023, despite shifting to an operating loss of US$19m from a profit in FY 2022. The company’s expanding customer base and advanced product portfolio contributed to strong bookings and a substantial revenue-generating customer increase. However, the shift away from legacy businesses and investment in R&D impacted profitability. Alphawave remains confident in its long-term growth, underpinned by strategic progress and an emphasis on AI and digital infrastructure markets.
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