Alphawave IP Group PLC on Monday reported higher revenue but a wider loss during the first half of the year, as it prepares for its takeover by Qualcomm Inc.
The Leeds, England-based high-speed connectivity solutions firm said revenue climbed 13% to $103.0 million in the six months to the end of June from $91.0 million a year before, while pretax loss widened to $178.0 million from $49.9 million.
Bookings excluding royalties as at June 30 decreased 29% to $159.4 million from $225.3 million a year prior. Alphawave noted that underlying demand for its technology and products remains ‘strong’ but bookings were hurt by customer uncertainty after the announcement in early April of Alphawave’s recommended takeover by San Diego, California-based semiconductor maker Qualcomm.
Research & development costs increased 65% to $65.1 million from $39.4 million, while other operating expenses multiplied to $109.9 million from $19.6 million.
Out of the $109.9 million other operating costs for the first half of 2025, $44.1 million were related to the acquisition by Qualcomm.
Alphawave IP had agreed to a $2.4 billion takeover from Qualcomm in June, which it expects to complete in the first quarter of 2026.
‘Since announcing the agreement for the recommended acquisition of the group by Qualcomm, which values the group at an implied enterprise value of approximately $2.4 billion, we have continued to deliver against our strategy and maintain strong momentum in the business,’ said Chief Executive Officer Tony Pialis.
Alphawave shares were 1.0% lower at 187.92 pence on Monday afternoon in London. Qualcomm was up 0.2% to $169.47 in pre-market trade in New York.
Copyright 2025 Alliance News Ltd. All Rights Reserved.