Business
Akoustis Reports Third Consecutive Quarter of Record Revenue as Fourth Quarter Fiscal 2022 Sales Grew by Over 140% Year-Over-Year
Ramp in XBAW Filter Revenue Expected to Continue in the Current Q1 FY23 with a Greater Than 200% Year-Over-Year Revenue IncreaseAkoustis Now has Twelve
About this update from Aktis Oncology, Inc.
[{"type":"text","content":" Ramp in XBAW Filter Revenue Expected to Continue in the Current Q1 FY23 with a Greater Than 200% Year-Over-Year Revenue IncreaseAkoustis Now has Twelve Customers in Production with Finished XBAW Filter Products Customer Activity Remains Robust with Expanding Design Win Pipeline 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., Sept. 12, 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 greater than 140% year-over-year increase in quarterly revenue to a record $5.2 million for the fourth fiscal 2022 quarter ended June 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 September quarter with a year-over-year increase of greater than 200%, despite the ongoing supply chain challenges in the consumer electronics industry. The Company had $80.5 million in cash as of June 30, 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 am 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, “Akoustis was able to achieve another quarter of record revenue and unit growth in June despite the persistent macro challenges presented from COVID lockdowns, supply chain disruptions and semiconductor chip shortages. Our growth is being driven by production ramps of our patented XBAW® RF filter solutions to multiple customers across our diverse end markets including Wi-Fi 6, Wi-Fi 6E, 5G mobile and network infrastructure, timing control, automotive and other markets.” Mr. Shealy added, “As Akoustis manufactures its XBAW® semiconductor chips exclusively in Upstat...