- 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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