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Akoustis Technologies, Inc. (NASDAQ: AKTS) is a pioneering high-tech company founded in 2014 by experienced industry leaders and scientists from the University of California at Santa Barbara (UCSB) and Cornell University. Akoustis focuses on developing, designing, and manufacturing innovative RF filter solutions for the wireless industry. The company's core technology, the XBAW® manufacturing process, utilizes proprietary microelectromechanical system (MEMS) based bulk acoustic wave (BAW) technology to produce high-performance RF filters for mobile smartphones, tablets, network infrastructure equipment, Wi-Fi, customer premise equipment, automotive, and defense applications.
Akoustis’ mission is to commercialize its patent-pending Bulk ONE™ technology to significantly improve the efficiency and signal quality of mobile wireless devices and enable the Internet of Things (IoT). The company addresses the rapidly expanding BAW filter market driven by the growth in 4G/LTE networks and the increasing number of filters required per device. With nearly 2 billion mobile phones manufactured annually, Akoustis aims to enhance mobile compatibility by providing higher-performance filters essential for global operation across multiple carriers and closely packed frequency bands.
The company operates through an integrated device manufacturer (IDM) model and owns a state-of-the-art 125,000 sq. ft. ISO-9001:2015 registered commercial wafer-manufacturing facility in Canandaigua, NY. This facility includes a class 100 / class 1000 cleanroom and is equipped for the design, development, fabrication, and packaging of RF filters, MEMS, and other semiconductor devices. Akoustis is headquartered in the Piedmont technology corridor near Charlotte, North Carolina.
Recent achievements by Akoustis include:
- Announced multiple design wins and volume orders for its XBAW® filters in enterprise Wi-Fi access points and 5G infrastructure applications.
- Completed a public offering raising approximately $10 million to support operations, R&D, and business growth.
- Introduced high-performance RF filters like the new 2.4 GHz XBAW® filters for Wi-Fi and LTE coexistence, planned for production in the second half of 2024.
- Engaged in significant defense contracts, including a multi-year DARPA project to scale its XBAW® technology to 18 GHz.
- Received a Wi-Fi NOW award in collaboration with HPE Aruba Networking for Best Enterprise Wi-Fi Solution.
Akoustis continues to focus on expanding its product portfolio, enhancing production capabilities, and securing new customer engagements in target markets, aiming for sustainable growth and technological leadership in the RF filter industry.
Akoustis Technologies, Inc. (NASDAQ: AKTS) reported record revenue of $4.6 million for Q3 FY22, a 25% increase sequentially. The growth was driven by XBAW™ filter sales, with expectations for over 30% sequential growth in Q4 FY22. As of March 31, 2022, the company held $55.9 million in cash. Akoustis successfully integrated RFMi, expanding its product portfolio. The company sees robust customer demand in 5G and Wi-Fi markets, adding new design wins and customers. Despite improvements, the net loss was $14.7 million due to high operating expenses.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced two new Wi-Fi 6E design wins, expanding its customer base from three to fifteen within six months. The first design win involves an enterprise-class router expected to ramp production in December 2022, utilizing four XBAW™ filters. The second win is for a consumer router, set to begin production in September 2022 with multiple XBAW™ filters per device. Akoustis is increasing its New York manufacturing capacity to approximately 500 million XBAW™ filters annually to meet growing demand.
Akoustis Technologies (NASDAQ: AKTS) plans to webcast its Q3FY22 results on May 2, 2022, at 8:00 am ET. Following the results, management will host a Q&A session. Investors can listen via phone or through the company's website. Akoustis is expanding its production capacity to 500 million filters annually, driven by demand for its Wi-Fi 6 and 5G RF filter solutions. The company has actively shipped various filters and is focused on growing its market in the multi-billion dollar RF filter sector.
Akoustis Technologies, Inc. (NASDAQ: AKTS) has announced that its Founder and CEO, Jeff Shealy, will present at the 34th Annual Roth Conference from March 13-15, 2022, in Orange County, CA. Shealy's presentation is scheduled for March 14 at 2:30 pm PT and will be webcast live on the company’s investor website. Akoustis is ramping up its production capacity to 500 million filters per year to meet the growing demand for its Wi-Fi 6 and 5G technologies. The company is currently delivering multiple filter solutions and actively engaging with customers to enhance its market position.
Akoustis Technologies (NASDAQ: AKTS) announced its participation in the 11th Annual Susquehanna Technology Conference, set for March 3-4, 2022. Due to Covid-19, meetings will occur virtually, and interested investors can contact Akoustis' investor relations. The company continues its growth by delivering Wi-Fi 6 filter solutions and increasing production capacity at its New York facility to 500 million filters annually to meet rising demand for 5G and Wi-Fi technologies in 2022.
Akoustis Technologies (NASDAQ: AKTS) has secured a development order for a new 5G mobile XBAW filter from a tier-1 RF module maker. This new filter will enhance 5G RF front-end modules, utilizing Akoustis’ proprietary XBAW process and in-house wafer-level packaging (WLP) capabilities. The company is also ramping up production capacity to approximately 500 million filters annually to meet growing demand in the 5G and Wi-Fi markets. CEO Jeff Shealy highlights the order's significance in addressing high-volume mobile band requirements.
Akoustis Technologies has appointed Ken Boller as its new Chief Financial Officer, effective immediately. Boller, who joined Akoustis in 2017 and has served as Interim CFO since 2018, brings over 25 years of finance experience to the role. He is committed to cost control and capital allocation to support sales growth and capacity expansion. The company is actively ramping production of its Wi-Fi 6 and 5G XBAW™ filter solutions and plans to increase annual production capacity to approximately 500 million filters. This leadership change aims to strengthen Akoustis amidst rapid market growth.
Akoustis Technologies (NASDAQ: AKTS) announced five new Wi-Fi design wins, including four using Wi-Fi 6E and one using Wi-Fi 6 XBAW™ filters. These wins are expected to ramp into production and ship in 2022, increasing Akoustis' total design wins in Wi-Fi to 13. The company has also expanded its production capacity, targeting approximately 500 million filters annually at its New York facility. CEO Jeff Shealy highlighted continued momentum in the Wi-Fi segment due to performance advantages over competitors.
Akoustis Technologies (AKTS) reports a record revenue of $3.7 million for Q2 FY22, marking a 96% sequential increase. The company expects over 25% growth in the current quarter, driven by strong demand for its patented XBAW™ RF filter solutions across 5G and Wi-Fi markets. Five new design wins in Wi-Fi were announced, alongside a significant purchase order from a tier-1 5G mobile customer. As of December 31, 2021, Akoustis holds $67.5 million in cash. Despite ongoing challenges from COVID and semiconductor shortages, management forecasts continued growth due to a robust sales pipeline.
Akoustis Technologies, Inc. (NASDAQ: AKTS) will webcast its Q2FY22 results on January 31, 2022, at 8:00 am ET. The event includes a Q&A session. To participate by phone, call 877-407-3982 (domestic) or 201-493-6780 (international). The webcast will be available on the Company’s website. Akoustis is ramping up production, targeting an output of 500 million filters per year to meet increasing demand for 5G, Wi-Fi 6, and Wi-Fi 6E technologies.
The company is expanding its product lines in these areas, leveraging its cutting-edge XBAW™ technology.
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