Business
Akoustis Reports Fourth Consecutive Quarter of Record Revenue as First Quarter Fiscal 2023 Sales Grew over 195% Year-Over-Year
Ramp in XBAW Filter Revenue Expected to Continue in the Current Q2 FY23 with an Estimated Greater than 100% Year-Over-Year Revenue IncreaseAkoustis Now has
About this update from Aktis Oncology, Inc.
[{"type":"text","content":" Ramp in XBAW Filter Revenue Expected to Continue in the Current Q2 FY23 with an Estimated Greater than 100% Year-Over-Year Revenue IncreaseAkoustis Now has Fifteen Customers in Production with Finished XBAW Filter Products Customer Activity Remains Robust with Expanding Pipelines in 5G Mobile, Wi-Fi CPE, 5G Infrastructure, Automotive, Timing Control and Other MarketsAkoustis Is Ideally Positioned to Expand its Chip Manufacturing in Upstate New York, USA and Benefit from the Recently Passed CHIPS and Science Act of 2022 Company to Host Investor Update Call Today at 8:00 am ET Charlotte, N.C., Nov. 14, 2022 (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 195% year-over-year increase in quarterly revenue to a record $5.6 million for the fiscal quarter ended September 30, 2022. Based on robust activity in both the sales and design win pipelines, the Company expects to report another quarter of record revenue in the current December quarter with a year-over-year increase of 55%-70% despite the ongoing supply chain challenges in 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 first quarter of fiscal 2023 despite the persistent macro challenges presented by COVID lockdowns, supply chain disruptions and semiconductor chip shortages. Our current growth is being 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, 5G mobile and infrastructure, timing control, automotive and other markets.” Mr. Shealy added, “As Akoustis manufactures its XBAW® semiconductor chips exclusively in Upstate New York, USA, we believe we are an at...