Business
Akoustis Reports Record Revenue for Third Quarter Fiscal 2022 on 25% Sequential Growth
Second Consecutive Quarter of Record RevenueDriven by Growth in XBAW™ Filter Sales, Ramp Expected to Continue in Q4 FY22 With Sequential Revenue Expected to
About this update from Aktis Oncology, Inc.
[{"type":"text","content":" Second Consecutive Quarter of Record RevenueDriven by Growth in XBAW™ Filter Sales, Ramp Expected to Continue in Q4 FY22 With Sequential Revenue Expected to Increase by More Than 30% Robust Customer Activity and Expanding Design Win Pipeline in 5G Mobile, Wi-Fi CPE, 5G Infrastructure and Other MarketsSuccessful Acquisition and Integration of Remaining 49% of RFM Integrated Device, Inc. (“RFMi”) Expands RF Acoustic Filter Product PortfolioCompany to Host Investor Update Call Today at 8:00 am ET Charlotte, N.C., May 02, 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 25% sequential quarterly revenue increase to a record $4.6 million for the third fiscal 2022 quarter ended March 31, 2022. Based on robust activity in both the sales and design win pipeline, the Company expects to report another quarter of record revenue in the current June quarter with a top-line sequential increase of greater than 30%. The Company had $55.9 million in cash as of March 31, 2022. 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. ET. 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 persistent macro headwinds presented by both COVID and semiconductor supply chain shortages, Akoustis was able to achieve record revenue and unit growth in the March quarter and we expect that growth to continue. This is being driven by production ramps of our patented XBAW™ RF filter solutions to multiple customers across the Wi-Fi 6, Wi-Fi 6E, 5G mobile and network infrastructure and other markets.” Mr. Shealy added, “We continue to experience strong demand and a growing sales funnel for our Wi-Fi, 5G mobile and CBRS XBAW™ filters, as well as our new RFMi resonator and oscillator products. During the March quarter, we added another tier-1 5G mobile RF module customer, bringing our total number of mobile customers to five. We have ...