Akoustis Technologies, an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters, has posted record revenue of $2.5 million for the 2021 fiscal third quarter ending March 31, 2021, 11% above analyst consensus. Quarterly revenue increased over $1.0 million sequentially, an increase of 92% from the previous December quarter. The company exited the March quarter with $90.4 million of cash.
According to Jeff Shealy, Founder and CEO of Akoustis, the company continued to build momentum in the March quarter, and is in the best position in its history to deliver on significant opportunities across multiple BAW filter markets and to deliver substantial revenue and earnings growth moving forward. Mr. Shealy continued, “We are actively delivering volume production of our Wi-Fi 6 tandem filter solution, delivering initial samples of our new 5G mobile filter solutions, shipping multiple 5G small cell XBAW® filter solutions, and we are entering the final stage of qualification with our Wi-Fi 6E coexistence XBAW® filter solutions. We currently see Wi-Fi 6E as one of our most compelling near-to-intermediate term market opportunities, while the 5G mobile handset filter market remains our largest potential intermediate-to-long term market opportunity by both unit volume and revenue.”
Akoustis is actively delivering volume production of its Wi-Fi 6 tandem filter solutions, shipping multiple 5G small cell XBAW® filter solutions, delivering initial designs of its new 5G mobile filter solutions to multiple customers and is now entering the market with its new Wi-Fi 6E coexistence XBAW® filter solutions. Given the rapidly growing sales funnel activity as well as ongoing interaction with customers regarding expected ramps in both 5G mobile and Wi-Fi 6E in calendar 2022, the company plans to increase the annual production capacity at its New York fab by the end of calendar 2021 to approximately 500 million filters per year.
Recent Business Highlights:
Akoustis currently has 15 commercial XBAW filters in its product catalog, and recently introduced 5.6 GHz and 6.6 GHz Wi-Fi 6E coexistence filter modules, which when qualified, will bring the number of catalog products to 17. Current product catalog filters include a 5.6 GHz Wi-Fi filter, a 5.2 GHz Wi-Fi filter, a 5.5 GHz Wi-Fi 6E filter, a 6.5 GHz Wi-Fi 6E filter, three small cell 5G network infrastructure filters including two Band n77 filters and one Band n79 filter, a 3.8 GHz filter and five S-Band filters for defense phased-array radar applications, a 3.6 GHz filter for the CBRS 5G infrastructure market and a C-Band filter for the unmanned aircraft systems (UAS) market. The company is also developing several new filters for the sub-7 GHz bands targeting 5G mobile device, network infrastructure, Wi-Fi CPE and defense markets.