Business
Akoustis Reports Seventh Consecutive Quarter of Record Revenue with Fourth Quarter Fiscal 2023 Sales Growing over 13% Year-Over-Year and Full Year 2023 Revenue Up 77% Year-over-Year
Robust Customer Activity in, Wi-Fi CPE, 5G Mobile, 5G Infrastructure, Automotive, Timing Control, Semiconductor Back-End-Services, and Other
About this update from Aktis Oncology, Inc.
[{"type":"text","content":" Robust Customer Activity in, Wi-Fi CPE, 5G Mobile, 5G Infrastructure, Automotive, Timing Control, Semiconductor Back-End-Services, and Other MarketsIntroduced Advanced Single Crystal XBAW® Technology for Existing and New MarketsLaunched State-of-the-Art XBAW® Foundry Services and AI-Enabled Engineering Design SoftwareCompany to Host Investor Update Call Today at 8:00 am ET Charlotte, N.C., Sept. 06, 2023 (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 wireless applications, announced today a 13% year-over-year increase in quarterly revenue to a record $8.3 million for the fiscal quarter ended June 30, 2023, and record annual sales of $27.1 million, up 77% year-over-year. With hundreds of active customers, increased activity in the sales and design win pipelines and the semiconductor services business, as well as new product introductions in Wi-Fi 6E and Wi-Fi 7, 5G network infrastructure and the defense market, the Company remains poised for significant growth over the next twenty-four months. 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, “Despite the persistent macro challenges, Akoustis was able to deliver its seventh consecutive quarter of record revenue. Our sales growth was driven by multiple factors, including additional 5G mobile shipments to our first tier-1 customer, continued execution in our Wi-Fi business punctuated by the notable entry into the Wi-Fi 7 market, and rebounding sales in both our SAW filter and semiconductor services businesses.” Akoustis continues to experience strong demand and a growing sales funnel for its XBAW® filter solutions, as well as its new XBAW®/SAW resonator and oscillator products, and semiconductor back-end services. During the June quarter, the Company shipped samples of its new 5.6 GHz/6.6 GHz Wi-Fi 6E/7 XBAW® filter products to multiple customers. Akoustis cont...