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High-speed connectivity services provider Alphawave IP lifted its outlook on full-year performance as 'strong' global demand supported new business wins in the first-half of the year.
For the 6 months to 30 June 2021, pre-tax profit fell to £3.9 million from £5.9 million year-on-year as revenue jumped 140% to £27.6 million.
Looking ahead, the company said FY2021 bookings are expected to exceed US$230m, reflecting 'exceptional H1 multi-year subscription deals and with multiple US wins expected in H2 2021.'
FY2021 revenue is expected to exceed US$75m, representing over 125% year-on-year growth and ahead of 100% year-on-year guidance at IPO, while adjusted EBITDA margins are expected to increase to over 55%, the company said.