Page 35 - Integrated Annual Report

ALPHAWAVE GOLF PROPRIETARY LIMITED (“Alphawave”)
www.inrangegolf.com
The year ending March 2021 will be remembered as the year in which Alphawave Golf found its place in the international golf and entertainment markets.
The year started with 3 commercial installations across the US and the UK and closed out with a total 10 installations with locations expanding into South Africa and the Middle East and a pipeline of signed contracts for new locations in the US, UK, China and Australia.
The acceleration of the business has been driven by the development of the new Inrange “in bay” solution which means that any driving range can not only provide an Inrange enhanced training experience but can also be transformed into an Inrange+ fueled entertainment destination.
The year ended with the launch of the new Inrange+
Courses product which the team anticipates will act as a gateway to introduce the keen golfer into the multiplayer experience and further drive the transformation of ranges into multiplayer active entertainment destinations.
In addition to the new in bay solution, the team has also successfully delivered a next generation radar sensor which allows for operation in geographies which were previously not accessible due to radio frequency regulations. This means that the accessible market for the Inrange solution has opened up to include the whole of Europe, Australia and allows for further expansion in the UK.
From a financial performance perspective, the business grew revenues by 148%. It is anticipated that the business will achieve operating profitability into the 2022 financial year.
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
INTEGRATED ANNUAL REPORT 2021 33