Business
Akoustis Reports Fifth Consecutive Quarter of Record Revenue as Second Quarter Fiscal 2023 Sales Grew over 59% Year-Over-Year
Customer Activity Remains Robust with Expanding Pipelines in 5G Mobile, Wi-Fi CPE, 5G Infrastructure, Automotive, Timing Control and Other MarketsAkoustis
About this update from Aktis Oncology, Inc.
[{"type":"text","content":" Customer Activity Remains Robust with Expanding Pipelines in 5G Mobile, Wi-Fi CPE, 5G Infrastructure, Automotive, Timing Control and Other MarketsAkoustis Now has Fifteen Customers in Production with Production Qualified XBAW Filter Products Services Portfolio and Back-End Processing Capabilities Expanding with Recent GDSI AcquisitionAkoustis is Positioning to Re-shore Packaging Capability and Expand its Chip Manufacturing in Upstate New York, USA Leveraging the Recently Passed CHIPS and Science Act of 2022 Company to Host Investor Update Call Today at 8:00 am ET Charlotte, N.C., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (NASDAQ: AKTS) (“Akoustis” or the “Company”), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today a 59% year-over-year increase in quarterly revenue to a record $5.9 million for the fiscal quarter ended December 31, 2022. Based on robust activity in both the sales and design win pipelines, in addition to the recent GDSI acquisition, the Company expects to report another quarter of record revenue in the current March quarter with a sequential increase of 20%-40% despite the ongoing macroeconomic challenges impacting the consumer electronics industry. Akoustis will host an investor call to provide a business update and outlook, followed by a Q & A session, this morning at 8:00 am ET. The call-in numbers are 877-407-3982 (domestic) and +01 201-493-6780 (international). The conference call will be webcast live on the Company’s website and will be available for playback at the following URL: https://ir.akoustis.com/ir-calendar. Jeff Shealy, founder and CEO of Akoustis, stated, “Akoustis was able to achieve another quarter of record revenue and continued unit growth in the second quarter of fiscal 2023 despite persistent macro challenges. Our growth is driven largely by production ramps of our patented XBAW® RF filter solutions to multiple customers across our diverse end markets, including Wi-Fi 6 and Wi-Fi 6E, infrastructure, timing control, automotive and other markets. I am also pleased to report that with the recent qualification of our wafer-level-packages, we have now entered the 5G mobile device market having recently received our first high-volume XBAW® order from a tier-1 customer.” ...