TORONTO, May 6 (Bernama-GLOBE NEWSWIRE) — Alphawave IP, a leading provider of multi-standard connectivity IP solutions for electronic devices, today announced record results for 2019 and for the first quarter of 2020. The company also announced dramatic hiring plans for 2020 so it can continue to expand to service the needs of its most advanced customers in 5nm and beyond.
“We have been profitable since 2017, but 2019 was a record year for us, with year-over-year revenue growing over 200%. Our first quarter of 2020 alone saw revenue nearly exceed our fantastic 2019 numbers.” said Tony Pialis, President and CEO of Alphawave. “Our focus on successful delivery of the highest-end and highest-quality connectivity solutions to our tier-one customer base has resulted in unprecedented revenue, gross margin, and EBITDA margin growth. We expect to more than double our 2019 revenue in 2020, while expanding EBITDA margins into the low 40% range – while expanding aggressively to meet customer demand in 2020 and 2021.”