Wolf Alice have started on album 2

Speaking to NME, Joff from the band has said -  "We've made a positive start but the new songs are at too formative a stage to have figured out any themes yet. It’s Wolf Alice, so it’s always going to be confused – stylistically, we’re typically all over the place."

 
"We haven’t got a big mantra of where we want to take our sound because we always let the explorative nature of being in the studio shape where the songs take us. But we want to be able to enjoy playing the new songs live, which lends itself to faster-paced songs. But that’s yet to be proven."

So it seems like it could be a wait for some new music, however if you've seen them recently you would have noticed a new cut called "Yuk Foo" being played live.