Akoustis Posts Record Q4 Revenue Aided By XBAW RF Filter Solutions To 5G Mobile, Automotive Markets

Akoustis Posts Record Q4 Revenue Aided By XBAW RF Filter Solutions To 5G Mobile, Automotive Markets
  • Akoustis Technologies, Inc AKTS reported fourth-quarter FY22 revenue growth of over 140% year-on-year to a record $5.2 million, missing the consensus of $6.18 million.
  • Non-GAAP EPS loss of $(0.26) missed the consensus loss of $(0.19).
  • Akoustis held $80.5 million in cash and equivalents.
  • Jeff Shealy, founder and CEO, stated, "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."
  • Outlook: Based on robust activity in both the sales and design win pipelines, Akoustis expects to report another quarter of record revenue in the current September quarter with a Y/Y increase of greater than 200%, despite the ongoing supply chain challenges in the consumer electronics industry.
  • Price Action: AKTS shares traded higher by 2.71% at $4.55 in the premarket on the last check Monday.

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