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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) announced a volume order for its XBAW WiFi 6E RF filters from a tier-1 customer. The filters will support a new MU-MIMO router targeting the consumer market, expected to enter production in the second half of 2021. The company’s XBAW filters cover critical frequency bands from 5.1 to 7.1 GHz, facilitating robust performance in WiFi 6E applications. With increasing demand for high-performance filters, Akoustis anticipates significant revenue growth. The FCC's recent approval of new frequency bands is a pivotal development for the WiFi 6E market.
Akoustis Technologies (NASDAQ: AKTS) has announced the design-lock of its new 5.5 GHz and 6.5 GHz WiFi 6E XBAW filters, aimed at enhancing wireless connectivity. These filters, covering the UNII 1-3 and UNII 5-8 bands, promise low power loss and improved coexistence with existing frequencies. Expected to be qualified by early 2021 and in production by the end of Q2, Akoustis seeks to capitalize on the growing WiFi 6E market. The FCC's approval of additional spectrum for unlicensed use further supports this expansion. CEO Jeff Shealy emphasizes the potential for significant growth in revenue and unit sales.
Akoustis Technologies, Inc. (NASDAQ: AKTS) has announced a redemption notice for its $15 million outstanding 6.5% Convertible Senior Secured Notes due March 2021. Holders can redeem notes for 100% of principal plus accrued interest or convert to common stock at a rate of 200 shares per $1,000. CEO Jeff Shealy stated this move aims to strengthen the company’s balance sheet by eliminating convertible debt, enhancing financial stability. The details are available in a recent SEC filing, and this announcement does not constitute a securities offer.
Akoustis Technologies (AKTS) will host an investor update call on February 1, 2021, at 8:00 a.m. ET to provide a business update and outlook. The company specializes in patented bulk acoustic wave (BAW) RF filters for wireless applications and has seen increased demand for its products. In 2020, Akoustis entered production across multiple markets, including 5G infrastructure and high-band WiFi. The call will include a question-and-answer session for investors. For audio participation, dial 877-407-3982 domestically or 201-493-6780 internationally.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced participation in the 23rd Annual Needham Virtual Growth Conference on January 11, 2021. Due to Covid-19 precautions, the event will be held virtually. Investors interested in meetings with Akoustis management should contact their Needham representative or Akoustis’ investor relations at ir@akoustis.com. The company is experiencing growing demand for its XBAW® filters, having launched 15 new products targeting 5G infrastructure, high-band WiFi, and defense markets throughout 2020.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced new orders for the development of two XBAW filters for 5G mobile devices, with deliveries expected in the second half of 2021. This marks the company’s third 5G mobile device customer, highlighting growing interest in its patented XBAW filter technology. The new filters aim to enhance 5G/WiFi coexistence in mid and ultra-high bands. Akoustis is expanding its product catalog, having introduced 15 new filters in 2020, targeting various applications, including WiFi and radar systems.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced a new design win for its 5.2/5.6 GHz XBAW RF coexistence filter for a customer’s MU-MIMO Tri-Band WiFi Bridge. Production is anticipated in the second half of 2021. This marks Akoustis's third WiFi 6 design win, following a router launch in November and another customer win earlier in December. The company emphasizes its strategy to become a leading supplier of RF BAW filters for WiFi 6 and 6E applications, driven by a growing interest in its innovative high-frequency XBAW filters.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced a design win from a second WiFi 6 customer for its 5.2/5.6 GHz RF coexistence filter solutions. The new tri-band gateway/router leverages multi-user multiple-in-multiple-out (MU-MIMO) technology, requiring multiple filters from Akoustis. Production is expected to start in the first half of 2021. This follows an earlier design win for another customer and reflects a growing sales funnel in the WiFi filter market. CEO Jeff Shealy anticipates additional design wins that could lead to sustainable revenue growth.
Akoustis Technologies (NASDAQ: AKTS) announced its participation in the Oppenheimer 5G Summit on December 15, 2020. Senior management will attend virtually due to COVID-19 safety measures. The company is experiencing increased demand for its patented XBAW® RF filters as it progresses into production across various markets, including 5G and high-band WiFi, in 2020. Their product catalog expanded to 15 filters targeting multiple applications. Akoustis is committed to advancing RF filter technology in a growing multi-billion-dollar market.
Akoustis Technologies (NASDAQ: AKTS) announced a redemption notice for its $10 million, 6.5% Convertible Senior Notes, due February 1, 2021. The redemption will cover the principal amount plus accrued interest, amounting to $10.833 per $1,000 of Notes, and a make-whole payment of $184.167. Holders can opt to convert Notes at a rate of 196.08 shares per $1,000 principal amount until January 29, 2021. CEO Jeff Shealy emphasized that eliminating this debt will reduce cash interest expenses by $650,000 annually, enhancing financial flexibility.
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