Akoustis Misses On Q4 Earnings, Ships First 5G Mobile WLP Filter

Loading...
Loading...
  • Akoustis Technologies Inc AKTS reported fourth-quarter FY21 revenue growth of 489.3% year-on-year to $2.16 million, missing the analyst consensus of $2.52 million.
  • Filter Product Revenue increased 440% Y/Y and 68% sequentially.
  • FY21 revenue was $6.6 million, up 270% Y/Y.
  • The gross margin loss was (58.9)%.
  • Non-GAAP EPS loss of $(0.19) missed the consensus of $(0.16).
  • Akoustis held $88.3 million in cash and equivalents.
  • Akoustis shipped the first 5G mobile filters to its tier-1 RF component customer under its wafer-level technology (WLP).
  • Both filters aim to offer 5G/WiFi coexistence in the mid and ultra-high bands in filter modules for 5G smartphones, tablets, and other mobile devices. 
  • Akoustis is on track to deliver the second WLP filter sample to this customer by CY21 and enter production in the second half of CY22.
  • Akoustics recently won a volume commercial order for its patented WiFi 6 XBAW filters from its second WiFi 6 OEM customer.
  • Price Action: AKTS shares closed higher by 14.3% at $9.99 on Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsSmall CapTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...