Reuters
LONDON (Reuters) -Alphawave, the chip technology company whose shares have lost 60% since listing a year ago, said it had made a good start to the year, with bookings of over $30 million in the first quarter. However its shares, which have struggled since it floated in London in May 2021, reversed early gains to trade down 5% at 0908 GMT, as the company stuck to guidance issued last month when it announced the acquisition of OpenFive for $210 million. Alphawave reported revenue of $89.9 million for 2021 on Friday and adjusted core earnings of $51.8 million, ahead of forecasts by analysts at Jefferies.
