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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 its intention to conduct an underwritten public offering of common stock, with plans to grant underwriters a 30-day option for additional shares. The offering's details, including size and terms, remain subject to market conditions. Proceeds from the offering will fund operations, including capital expenditures, research, debt servicing, and general corporate purposes. B. Riley Securities, Inc. acts as the sole book-running manager, with additional co-managers involved. A shelf registration statement for the offering is effective, with further details available in a forthcoming prospectus.
Akoustis Technologies has announced the acquisition of Grinding and Dicing Services (GDSI) for $20 million, comprising $14 million in cash, $2 million in stock, and a $4 million promissory note. This acquisition is immediately accretive, adding a high-margin premium services business that supports over 250 customers. The move aligns with Akoustis' strategy to reshore its semiconductor packaging capabilities under the CHIPS Act. GDSI will enhance rapid prototyping for Akoustis' XBAW filters and integrates the supply chain for national security applications.
Akoustis Technologies, Inc. (NASDAQ: AKTS) has achieved a milestone by securing its first design win in the 5G mobile sector from a leading Tier-1 RF component customer. The newly designed XBAW® RF filter will be integrated into a multiplexer for 5G mobile handsets, expected to ship in the first half of 2023. This filter utilizes a proprietary wafer-level package developed in Akoustis' New York facility, enhancing manufacturing efficiency. The company anticipates further applications for its XBAW® technology across various mobile devices and is ramping up production capacity to meet strong demand.
Akoustis Technologies (NASDAQ: AKTS) has successfully qualified its proprietary wafer-level-packaging (WLP) technology for 5G mobile and timing control markets. This technology aims to address supply chain challenges and enhance production capabilities at their New York facility. The first WLP packages are set to enter production early in 2023. Akoustis continues to see strong demand for its XBAW® filter products, anticipating significant revenue opportunities in 5G smartphones, tablets, and infrastructure. The company aims to reach a production capacity of approximately 0.5 billion filters per year.
Akoustis Technologies (NASDAQ: AKTS) reported a 195% year-over-year revenue increase, reaching $5.6 million for Q1 FY23. The company anticipates another record quarter in Q2 FY23 with revenue expected to rise 55%-70%. Despite supply chain challenges, demand for XBAW filters is robust across diverse markets. Akoustis plans to expand manufacturing in New York, capitalizing on the CHIPS Act. Their patent portfolio grew to 73 issued patents and 123 pending. Significant design wins were achieved in Wi-Fi and 5G sectors.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced its participation in several upcoming conferences during the December 2022 quarter. Key events include the 11th Annual Roth Technology Event on November 16, 2022, and the 13th Annual Craig-Hallum Alpha Select Conference on November 17, 2022. Management will host one-on-one meetings at these events. Akoustis is focused on expanding its production capabilities, aiming for an annual capacity of approximately 0.5 billion filters, while actively engaging in 5G and Wi-Fi 6 technology solutions.
Akoustis Technologies (NASDAQ: AKTS) will webcast its Q1 FY23 financial results on November 14, 2022, at 8:00 AM ET. A question-and-answer session will follow. To listen, call 877-407-3982 (domestic) or 201-493-6780 (international). The company is ramping up production capacity to about 0.5 billion filters annually at its New York facility. Akoustis is actively shipping its Wi-Fi 6 tandem filters and has secured over 20 customer design wins for its patented XBAW® filters.
Akoustis Technologies, Inc. (NASDAQ: AKTS) announced three new Wi-Fi 6E design wins for carrier-class applications, including two wins from a leading European Wi-Fi OEM and one from a global network provider. The design wins utilize 4x4 MU-MIMO architectures, with production expected to ramp for the first router by the end of 2022 and additional routers in 2023. Akoustis anticipates further growth in its customer base, driven by increasing interest in its advanced Wi-Fi solutions. The company is investing in its production capacity, targeting approximately 500 million units annually.
Akoustis Technologies (NASDAQ: AKTS) has joined the Semiconductor Industry Association (SIA) as a Charter Member, aligning with major industry leaders like Intel and Qualcomm. This membership aims to enhance U.S. semiconductor innovation and competitiveness, particularly following the CHIPS and Science Act of 2022. The company is currently ramping up production capacity to approximately 500 million units annually and has secured over 20 customer design wins for its proprietary XBAW filter solutions, including Wi-Fi 6 and 5G products.
Charlotte, N.C., Oct. 04, 2022 – Akoustis Technologies (NASDAQ: AKTS) has introduced two new Wi-Fi 6E and Wi-Fi 7 RF filter solutions, A10655 and A10665, now in sampling phase. These filters target U-NII 1-3 and U-NII 5-8 frequency bands, boasting a 4X smaller form factor and superior out-of-band rejection. Production is anticipated to commence in H1 2023, with plans to reach an annual capacity of approximately 500 million units. Over 20 design wins for XBAW filters have already been secured, underlining Akoustis's growth in the multi-billion-dollar RF filter market.
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