Alphawave GmbH publishes 2025 financial statements – independent review confirms performance and trading systems

Alphawave GmbH has published its financial statements for the 2025 financial year and, at the same time, released the results of an independent review of its trading activities and systems. An external auditor has examined and confirmed both the performance for 2024 and 2025 and the underlying trading systems on site.

In the 2025 financial year, Alphawave GmbH generated a net profit of EUR 1,111,473.35 and was able to significantly increase its result compared to the previous year. Revenues rose to EUR 2,919,716.41 (previous year: EUR 1,209,756.87), while operating performance improved markedly despite higher expenses. This means that Alphawave further strengthened the earning power of its business model in the second full trading year following the completion of its intensive development phase.

The independent report was prepared in the form of agreed‑upon procedures. The scope of work included, in particular, a review of the development of the Net Asset Value (NAV, i.e. the portfolio value), the verification of realized and unrealized results (mark‑to‑market), and a reconciliation with the company’s trading system. The review was based on live trading activities in a custody account held with an international prime broker, i.e. a securities firm specialized in servicing institutional trading strategies, for the period from 1 January 2024 to 31 December 2025, and included an on‑site visit at Alphawave.

The auditor verified the calculation of the performance figures using both time-weighted and money-weighted methods and did not identify any deviations from the returns reported by Alphawave. Based on the reviewed data, time-weighted annual returns of 12.09% for 2024 and 20.48% for 2025, as well as indicative money-weighted returns of 33.83% (2024) and 14.00% (2025), were confirmed. The underlying transaction data were jointly exported directly from the prime broker’s system to ensure full traceability and data integrity. As trading in 2024 only took place between May and December, the confirmed return of 12.09% corresponds to an annualized return of 18.12%. Over the entire review period, the maximum interim decline (max drawdown) was only 12.06%, indicating a high degree of robustness of the strategy. Based on the annualized return of 19.54%, this results in a return-over-maximum-drawdown (RoMaD) of 1.62, exceeding the results of the backtests. Taking these metrics together, the cumulative live return since the start of live trading in May 2024 amounts to around 35%, as corroborated by the independent review.

Another key focus of the review was the technical implementation. For selected futures transactions, the auditor examined whether the orders originated from the proprietary trading environment and were transmitted automatically to the prime broker. The related procedures were carried out during an on-site visit at Alphawave, during which the underlying IT infrastructure and system architecture were also inspected. When reconciling the internal trade logs with the transactions recorded in the custody account, no discrepancies were found with regard to timestamps, quantities, prices, or instruments. The report therefore confirms both the traceability of the trading results and the proper functioning of the systems used, based on real custody account data.

Jan-Patrick Krüger, Managing Director of Alphawave GmbH, comments: “We are pleased with the independent review, as it provides an additional layer of transparent, third‑party verification of our trading data and systems. At the same time, the published 2025 financial statements show that we were able to further increase our profitability in the second year of live trading. After around eight years of development work, this represents an important milestone for the further scaling of our approach.”

The results of the 2025 financial statements and the review form the basis for the company’s further development in the current 2026 financial year. Alphawave will provide an update on the current performance in its next reporting.

The full documentation – comprising the financial statements as of 31 December 2025 and the report on the agreed‑upon procedures – is available on the investor relations section of Alphawave GmbH at www.alphawave.fund/ir.

About Alphawave GmbH
Alphawave GmbH, based in Düsseldorf, specializes in systematic, quantitatively driven trading strategies. The company develops and operates proprietary algorithmic trading systems with the objective of generating sustainable, risk‑adjusted returns for its investors.

About Alphawave Finance GmbH
Alphawave Finance GmbH operates Alphawave’s new investment platform, providing professional and semi‑professional investors with access to the company’s systematic trading strategies via standardized investment products. Further information on the platform and available products is available at www.alphawave.eu.

Press contact:
Alphawave GmbH
Marienstraße 14
40212 Düsseldorf
press@alphawave.fund
+49 211 731492‑70