LONDON, Sept 21 (Reuters) - Canadian semiconductor
technology company Alphawave raised its 2021 guidance on
Tuesday after reporting strong demand for its connectivity
solutions in its maiden results since it listed in London in
Shares in the company, which were priced at 410 pence in the
public offer, rose 10% to 377 pence in early deals, giving it a
market value of 2.5 billion pounds ($3.42 billion).
Executive Chairman John Lofton Holt said the share
performance since listing reflected "pretty rough" markets for
tech companies, but the company was confident the successful
execution of its strategy would be reflected in the stock price.
Alphawave, which licenses its high-speed data transmission
technology to five out of eight of the world's largest
chipmakers, reported revenue of $27.6 million for the six months
to end-June, up 140% year-on-year. Adjusted core earnings more
than doubled to $13.9 million, with a margin of 50%.
It said it expected full-year revenue to exceed $75 million,
representing over 125% growth and ahead of 100% guidance at the
IPO, with its margin expected to increase to more than 55%.
Lofton Holt said Alphawave was the first to deploy its
technology at seven, six and five nanometers, and last quarter
was the first at four nanometers.
"Now we are looking at three nanometer and beyond with our
semiconductor manufacturing partners TSMC and Samsung," he told
He said shortages in the semiconductor sector was more of an
opportunity than a headwind, largely because the licences
Alphawave were selling were for technology that would not go
into production for several years.
"As a result of chip shortages, more countries and more
companies are investing in new foundries," he said. "This
investment in new foundry capacity is an opportunity for us."
($1 = 0.7310 pounds)
(Editing by James Davey and Jane Merriman)