Business
Akoustis Reports Fiscal First Quarter 2022 Results
Q1FY22 Revenue of $1.9M Representing an Increase of Nearly 300% Year-Over-YearDecember Revenue Guidance of $3.5-$4.0M Expected to be Up Nearly 100%
About this update from Aktis Oncology, Inc.
[{"type":"text","content":" Q1FY22 Revenue of $1.9M Representing an Increase of Nearly 300% Year-Over-YearDecember Revenue Guidance of $3.5-$4.0M Expected to be Up Nearly 100% Sequentially at the Mid-PointRobust Customer Activity and Design Win Pipeline in 5G Mobile, WiFi CPE, Infrastructure and Other MarketsXBAW Filters Entering Production in Core WiFi 6E and Network Infrastructure Segments in Current QuarterCompany to Host Investor Update Call Today at 8:00 am ET Charlotte, N.C., Nov. 01, 2021 (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 290% year-over-year increase in revenue to $1.9 million for the 2022 fiscal first quarter ended September 30, 2021. Revenue was in-line with the Company’s previous guidance of approximately $2.0 million, despite continuing headwinds stemming from both the Coronavirus and worldwide supply chain challenges. The Company had $75.7 million in cash as of September 30, 2021. Akoustis will host an investor call to provide a business update and outlook, followed by a Q & A session this morning at 8:00 a.m. EDT. The call-in numbers are 877-407-3982 (domestic) or +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, “Despite the ongoing macro headwinds, Akoustis is steadily growing its pipeline of XBAW™ designs and customers. We expect to return to double-digit sequential revenue growth in the December quarter, as we ramp volume XBAW RF filter solutions to multiple customers across the WiFi 6, WiFi 6E, 5G network infrastructure and other markets.” Mr. Shealy continued, “We continue to experience strong demand and a growing sales funnel for our WiFi 6E, 5G mobile and CBRS XBAW™ filters. Importantly, our efforts in 5G mobile have been rewarded with the foundry agreement announced last quarter and, as we announced today, we have just engaged with a third mobile customer, a leading 4G/5G RF component maker focused on markets in Asia.” Akoustis is actively delivering volume production of its WiFi 6 tandem filter solutions, shipping multiple 5G ...