Chipmaker Decawave flags growth plans as it posts €8m in profits

Dublin-based computer chipmaker Decawave flagged “significant plans to increase its revenues and to address new markets” as it posted profits of €8.1 million for the 12 months to April 2nd this year.

The business recorded revenues of €26.04 million, up from €27.72 million for the prior 15-month period, when it recorded a pretax loss of €4 million.

Last year, the business benefited from a corporate tax gain of €6.46 million, resulting in post-tax profits of €14.6 million.

In 2020, US-based Apple supplier Qorvo purchased Decawave for $400 million (€368 million).

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The principal activities of the company are the development of ultra-wideband technologies and the manufacture, sale and licensing of the technologies.

The firm last year recorded sales, service and intercompany royalty revenues of €24.46 million, and €1.5 million in sales and licence revenue.

In a report accompanying the numbers, directors noted that revenues outside the State accounted for 100 per cent of income.

The profit for last year took account of an R&D spend of €4.84 million and non-cash depreciation costs of €434,640.

The directors said the early 2020 acquisition by the North Carolina-headquartered Qorvo “has allowed the company to accelerate the development of its second generation conduct products and to address demand in the higher volume consumer market as well as building global engineering and sales teams”.

They added: “The expectations are that the company will continue to be profitable in the medium term.”

Staff costs last year totalled €7.18 million as staff numbers increased from 54 to 61. Shareholder funds amounted to €17.15 million, including cash funds of €9.6 million.