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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 (NASDAQ: AKTS) announced that senior management will present at the 24th Annual Needham Growth Conference on January 10, 2022, at 2:45 PM ET. The conference will be held virtually due to COVID-19 precautions. Investors can access the presentation via the company's investor website. Akoustis is ramping production capacity at its New York facility to 500 million filters per year to meet growing demand for its 5G and WiFi 6E solutions.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced a purchase order from a new tier-1 module maker for the development of a 5G mobile XBAW filter. Initial samples are expected in the first half of CY22, with production ramp targeted for the second half of CY23. This collaboration marks the fourth active customer engagement for Akoustis' XBAW technology. The company aims to increase its annual production capacity to approximately 500 million filters, responding to growing demand in the 5G and WiFi markets.
Akoustis Technologies, Inc. (NASDAQ: AKTS) will present at the 2nd Annual Oppenheimer 5G Summit on December 14, 2021, at 9:05 am ET. Due to COVID-19 precautions, the event will be virtual. The presentation will be available on the investor website. Akoustis is ramping up production of its WiFi 6 and 5G filter solutions, targeting an annual capacity of approximately 500 million filters by the end of 2021. The company is actively engaged with customers to meet the growing demand for advanced RF filter technology.
Akoustis Technologies (NASDAQ: AKTS) announced that CEO Jeff Shealy will appear on TD Ameritrade Network today at 11:20 AM ET. The company is ramping up production of its WiFi 6 and 5G filter solutions, expecting to increase capacity at its New York facility to 500 million filters annually by the end of 2021. Akoustis aims to capture a share of the growing RF filter market with its proprietary XBAW™ technology, enhancing performance and bandwidth. The company is actively engaged with customers for expected sales growth in 2022.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced that Dave Aichele, EVP of Business Development, will present on "RF Acoustic Filters for High-Performance Wi-Fi" at the Wi-Fi Now Conference on November 17, 2021, at 1:25 PM ET. This virtual event is part of Akoustis's initiatives to enhance its Wi-Fi 6 and 5G filter solutions. The company plans to boost annual production capacity at its New York facility to 500 million filters by the end of 2021, addressing an increasing demand in the RF filter market.
Akoustis Technologies announced its fourth design win for patented WiFi 6E XBAW filters, set to be integrated into a new carrier-grade WiFi 6E gateway by a WiFi OEM. The solution will use 5.5 GHz and 6.5 GHz tandem filter modules for a 2X2 MU-MIMO carrier gateway product, with production expected to ramp up in the first half of 2022. This expansion aligns with the growing demand for high-performance coexistence filters following the FCC's approval of the 5.9 to 7.1 GHz bands for unlicensed use.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced its participation in the 10th Annual Roth Technology Conference on November 17, 2021. Due to Covid-19, the meetings will occur virtually. Investors interested in meetings can contact Akoustis' investor relations. The company is ramping up production capacity at its New York facility to 500 million RF filters per year, driven by demand for its WiFi 6 and 5G products. Akoustis aims to address the growing RF filter market with its innovative XBAW™ technology.
Akoustis Technologies, Inc. (NASDAQ: AKTS) will participate in the 12th Annual Craig-Hallum Alpha Select Conference on November 16, 2021. Meetings will be held virtually in light of COVID-19 precautions. Interested investors can schedule meetings via the Craig-Hallum representative or by contacting Akoustis' investor relations at ir@akoustis.com.
The company is expanding its production capacity at its New York facility to approximately 500 million filters annually by year-end 2021, driven by demand for 5G and Wi-Fi 6 technologies.
Akoustis Technologies (NASDAQ: AKTS) has engaged with a new mobile customer to develop its XBAW™ filters for challenging 4G/5G bands, marking its third customer engagement in the mobile sector. The customer, a leading RF component company targeting Asian OEMs, aims to expand its use of XBAW™ filters if initial projects meet specifications. Akoustis plans to deliver samples in H1 2022 and ramp production capacity to 500 million filters annually by year-end 2021. The company currently offers 15 products in its XBAW™ catalog, with new WiFi 6E solutions under development.
Akoustis Technologies reported a remarkable 290% year-over-year revenue growth, totaling $1.9 million for Q1FY22, aligning with previous guidance. The company anticipates a sequential revenue increase of nearly 100% for December 2021, with guidance between $3.5 million and $4.0 million. Akoustis is witnessing solid demand for its XBAW filters, particularly in 5G and WiFi 6E markets, with plans to increase production capacity to 500 million filters per year by year-end. Despite current headwinds, the company maintains a strong cash position of $75.7 million.
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