Alphawave IP Group plc provided revenue guidance for the fiscal year 2023, 2024 and 2025. Based on the near completion of the audit process, the company now expected fiscal year 2023 revenue of approximately USD 318 million- USD 323 million which is below the original outlook for the year (USD 340 million to USD 360 million). This is mainly due to the accelerated transition away from China, and changes in expected revenue recognition of long-term contracts in advanced nodes.
The company expects 2024 revenue of USD 345 million to USD 365 million and adjusted EBITDA of approximately USD 70 million or approximately 20% of revenue, which is at the mid-point of the revenue guidance range. This reflects the deliberate decision to de-priorities growth in China, which will…
