Business
Akoustis Reports Record Third Quarter Fiscal 2021 Revenue
Revenue Increased 92% Sequentially - 11% Above Analyst ConsensusXBAW Filter Shipments Up Over 100% Sequentially Growing Customer Activity in 5G Mobile, WiFi,
About this update from Aktis Oncology, Inc.
[{"type":"text","content":" Revenue Increased 92% Sequentially - 11% Above Analyst ConsensusXBAW Filter Shipments Up Over 100% Sequentially Growing Customer Activity in 5G Mobile, WiFi, Infrastructure and Other MarketsNew Plan to Accelerate Fab Expansion and Boost Capacity by an Additional 2X by CYE 2021 to Approximately 500 Million Filters Per YearCompany to Host Investor Update Call Today at 8:00 am EDT Charlotte, N.C., May 03, 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 record revenue of $2.5 million for the 2021 fiscal third quarter ended March 31, 2021, 11% above analyst consensus. Quarterly revenue increased over $1.0 million sequentially, an increase of 92% from the previous December quarter. The Company exited the March quarter with $90.4 million of cash. The Company 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, commented, “We continued to build momentum in the March quarter, and we are in the best position in our history to deliver on significant opportunities across multiple BAW filter markets and to deliver substantial revenue and earnings growth moving forward.” Mr. Shealy continued, “We are actively delivering volume production of our WiFi 6 tandem filter solution, delivering initial samples of our new 5G mobile filter solutions, shipping multiple 5G small cell XBAW® filter solutions, and we are entering the final stage of qualification with our WiFi 6E coexistence XBAW® filter solutions. We currently see WiFi 6E as one of our most compelling near-to-intermediate term market opportunities, while the 5G mobile handset filter market remains our largest potential intermediate-to-long term market opportunity by both unit volume and revenue.” Akoustis is actively delivering volume production of its WiFi 6 tandem filter solutions, shipping multiple 5G small cell XBAW® filter so...