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Investing.com -- U.K.-based semiconductor firm Alphawave IP Group (LON:IPO) PLC (LON:AWE) reported fiscal year 2024 results on Thursday, largely in line with analyst expectations but refrained from providing guidance for fiscal year 2025, citing global economic uncertainty and recent tariff regimes.
The company’s stock edged down 0.7% following the announcement.
For FY24, Alphawave posted sales of $307.6 million, slightly below the Jefferies estimate of $310.8 million. Adjusted EBITDA came in at $51.1 million, marginally above the Jefferies forecast of $50.6 million.
Alphawave’s revenue performance represents a significant increase from the previous year, although the exact YoY growth percentage was not specified in the provided information.
"While timing of customer programmes is currently uncertain, we remain optimistic about the future growth opportunities of the business and will manage investments carefully through this period," according to the company.
Notably, Alphawave did not comment on its interest or lack thereof in a potential bid by Qualcomm (NASDAQ:QCOM). However the company said that in the event of an acquisition by Qualcomm, its loans, borrowings, and convertible bonds may be subject to change-of-control provisions, which the directors believe Qualcomm has the ability to address.
Despite the lack of short-term guidance, analysts at Jefferies suggest that longer-term growth prospects for Alphawave’s custom silicon and connectivity products remain strong.