ALPHAWAVE IP ANNOUNCES RECORD FY2019, RECORD 1Q2020 AND DRAMATIC HIRING PLANS FOR REMAINDER OF 2020 AND BEYOND

Toronto, Ontario, CANADA, May 05, 2020 (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.”

To meet the significant uptick in customer demand in 2020 and 2021, Alphawave is aggressively recruiting new talent across all areas of semiconductor design, sales, marketing and operations.  This is in great contrast to many other companies that are struggling to cope with the macroeconomic impacts of the global CoVid-19 situation.  “From day one, we built our company to support remote work, design, and support.  This makes us well positioned to be able to hire anyone, anywhere; We just want the best people from the industry.  So, we welcome applications via our website and look forward to more than doubling our headcount in 2020”, said Mr. Pialis.

About Alphawave IP Inc.

Alphawave is a leading provider of multi-standard connectivity IP solutions for electronic devices.  Founded in Toronto, Ontario, Canada in 2017, Alphawave is one of the fastest growing and most profitable companies in the semiconductor industry.  Find out more at http://www.awaveip.com

Alexander Mann
Alphawave
alex.mann@awaveip.com

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