Business
Akoustis Reports Fiscal Fourth Quarter and Full Year Results
Fiscal 2021 Annual Revenue of $6.6M Representing an Increase of 270% Year-Over-YearFilter Product Revenue Increased 68% Sequentially, and Over 440%
About this update from Aktis Oncology, Inc.
[{"type":"text","content":" Fiscal 2021 Annual Revenue of $6.6M Representing an Increase of 270% Year-Over-YearFilter Product Revenue Increased 68% Sequentially, and Over 440% Year-Over-Year Robust 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 2H CY2021Company to Host Investor Update Call Today at 8:00 am EDT Charlotte, N.C., Aug. 30, 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 270% year-over-year increase in revenue to $6.6 million for the 2021 fiscal year ended June 30, 2021. Q4 fiscal 2021 revenue was $2.2 million, within the Company’s previously guided range, despite continuing headwinds stemming from both the Coronavirus and semiconductor supply chain challenges. The Company had $88.3 million in cash as of June 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 delivered record XBAW™ filter shipments in Q4 FY21. Furthermore, our existing design win pipeline supports a 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 defense 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 recently announced foundry agreement and, as we announced this morning, that we have shipped early 5G mobile filter prototypes to our tier-1 mobile customer and are on-track to deliver two fully qualified filters next calendar year.” Akoustis is actively delivering volume production of its WiFi...