Alphawave Ip Group Plc (GB:AWE) has released an update.
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Alphawave IP Group Plc, a leader in high-speed connectivity for global tech infrastructure, reported a 74% surge in revenue to $322 million for FY 2023, despite shifting to an operating loss of $19 million from a profit of $38 million in FY 2022. The company’s expansion led to a broader customer base and a significant increase in licence and NRE bookings, with a growing pipeline reflecting strong momentum in AI and data center infrastructure. The financial performance, however, fell short of the year’s outlook due to strategic decisions including deprioritizing growth in China.
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