London-listed Alphawave IP sailed past its initial sales guidance today as it reported a 225% surge in bookings last year.
The Canadian computer chip-designer reported bookings of $244.7 million for 2021, more than tripling 2020 levels and passing the target set by the firm when it went public in May.
Bookings in the final quarter of 2021 hit $25.5m which bosses said was primarily driven by a boom in interest from North American and South Korean customers.
Tony Pialis, President and Chief Executive Officer of Alphawave IP stated: “We are pleased to have surpassed our original bookings estimates provided during the IPO, and even our own expectations for the year.
“This performance reflects the strength of our pipeline, the pull from new and existing global customers and the value of our chiplet strategy.”
Pialis credited the strength of its pipeline and the signing of new global customers as part of its chiplet strategy, which saw the firm win a number of new clients in North America and China. A chiplet is used to create computer processors.
Alphawave’s digital infrastructure covers data centers, computers, networking, AI, 5G and autonomous vehicles, and Pialis added that the results today reinforced its leadership position in providing “the most advanced technologies in semiconductors.”
The firm has seen a boom in interest in its services through the pandemic as businesses look to enhance data speed and performance.
Shares in the firm rose to trade at 4.5 per cent above the opening price, after a slight dip in early trading.