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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 preliminary unaudited revenue of $1.9 million for Q1 FY22, close to its target of $2.0 million. The company expects to increase revenue to between $3.5-$4.0 million in the upcoming quarter, aided by new WiFi 6E and network infrastructure clients. Akoustis is expanding its production capacity to approximately 500 million filters annually at its New York facility by year-end 2021. The company continues to innovate in the RF filter market, with plans to introduce a total of 17 commercial XBAW filters.
Akoustis Technologies, Inc. (AKTS) announced a strategic acquisition of a 51% stake in RFM Integrated Device, Inc. (RFMi) for $6 million in cash and $2.5 million in stock, with an option to buy the remaining 49% for an additional $3.5 million in cash and $4 million in stock by June 2022. This acquisition enhances Akoustis' RF filter product portfolio, introduces new sales channels in various markets, and is expected to generate $500,000 to $1 million in revenue in the December quarter. The integration aims to leverage multi-chip modules for 4G/5G expansion and support increasing production capacities.
Akoustis Technologies, Inc. (NASDAQ: AKTS) is collaborating with a key Timing RF Component manufacturer to develop ultra-high frequency XBAW resonators for 5G wireless, networking, and automotive applications. Production is expected to ramp up by late 2022 or early 2023. The timing RF market presents significant growth opportunities for Akoustis, as it seeks to replace older technologies with its advanced devices. The company plans to increase its annual production capacity to approximately 500 million filters by the end of 2021, focusing on its expanding portfolio, including 15 commercial XBAW filters.
Akoustis Technologies has secured its third design win for its patented WiFi 6E XBAW filters, producing a 5.5 GHz/6.5 GHz tandem filter solution for a new MU-MIMO gateway product by a tier-1 OEM. The company anticipates a production ramp in early 2022, enhancing its role in the WiFi 6E market. With plans to boost annual production capacity at its New York facility to 500 million filters by year-end 2021, Akoustis aims to capitalize on the growing demand for RF filter technology.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced its participation in the 23rd Annual HC Wainwright Global Investment Conference on September 14, 2021. The meetings will be held virtually due to COVID-19 precautions. The company is focused on delivering high-volume production of its WiFi 6 tandem filters and expanding its 5G filter offerings. By the end of 2021, Akoustis plans to increase its annual production capacity to approximately 500 million filters. Currently, it has 15 commercial XBAW™ filters with plans to add more, targeting growth in the multi-billion-dollar RF filter market.
Akoustis Technologies, Inc. (NASDAQ: AKTS) is set to participate in the Piper Sandler Global Technology Conference on September 13, 2021. Due to COVID-19, the conference will be held virtually. Akoustis is ramping up production capacity at its New York facility to 500 million filters annually in response to increased demand for 5G and WiFi 6 technologies. The company currently offers 15 XBAWTM RF filters and plans to expand its catalog to 17 with the introduction of new WiFi 6E filters.
For investor inquiries, contact ir@akoustis.com.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced it has delivered the first of two 5G mobile filters to a tier-1 RF component customer, signifying a crucial step in its expansion into the 5G market. The filters utilize advanced wafer-level packaging technology and will support 5G/WiFi coexistence. The second filter is expected to ship in Q4 2021. Akoustis aims to increase annual production capacity to 500 million filters by the end of 2021, driven by rising demand in the 5G and WiFi markets. CEO Jeff Shealy highlighted the significance of this shipment for revenue and unit volume growth.
Akoustis Technologies (NASDAQ: AKTS) reported a remarkable 270% year-over-year revenue growth, achieving $6.6 million for the fiscal year ending June 30, 2021. The Q4 revenue of $2.2 million aligns with previous guidance despite challenges from COVID-19 and semiconductor supply chain issues. The company maintains $88.3 million in cash and anticipates strong demand for its XBAW filters in 5G and WiFi markets, aiming for double-digit sequential revenue growth in the upcoming quarter. Akoustis also announced plans to increase production capacity significantly.
Akoustis Technologies, Inc. (NASDAQ: AKTS) has announced the receipt of a volume commercial order for its patented WiFi 6 XBAW™ filters from its second WiFi 6 OEM customer. The order includes 5.2 GHz and 5.6 GHz filters designed for a new MU-MIMO router platform, with shipments expected to start in the current quarter. The company anticipates ramping production in Q4 2021, capitalizing on significant market opportunities in WiFi 6 and WiFi 6E. Akoustis is planning to increase its production capacity to 500 million filters annually by the end of 2021.
Akoustis Technologies, Inc. (NASDAQ: AKTS) has announced the design of its patented XBAW filters into a new WiFi 6E gateway platform for a carrier-grade OEM. The 5.5 GHz and 6.5 GHz coexistence filters will enable advanced multi-user capabilities. Production is expected to ramp up in early 2022. Akoustis aims to increase its production capacity to 500 million filters per year by the end of 2021, driven by a growing sales funnel. The FCC's approval for the 5.9 to 7.1 GHz spectrum further fuels demand for high-performance RF filters.
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