Akoustis Technologies, an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced a 25% sequential quarterly revenue increase to a record $4.6 million for the third fiscal 2022 quarter ended March 31, 2022.
Based on robust activity in both the sales and design win pipeline, the Company expects to report another quarter of record revenue in the current June quarter with a top-line sequential increase of greater than 30%. The Company had $55.9 million in cash as of March 31, 2022.
Click here to read an Interview with Colin Hunt from Akoustis
Jeff Shealy, founder and CEO of Akoustis, stated, “Despite the persistent macro headwinds presented by both COVID and semiconductor supply chain shortages, Akoustis was able to achieve record revenue and unit growth in the March quarter and we expect that growth to continue. This is being driven by production ramps of our patented XBAW™ RF filter solutions to multiple customers across the Wi-Fi 6, Wi-Fi 6E, 5G mobile and network infrastructure and other markets.”
Mr. Shealy added, “We continue to experience strong demand and a growing sales funnel for our Wi-Fi, 5G mobile and CBRS XBAW™ filters, as well as our new RFMi resonator and oscillator products. During the March quarter, we added another tier-1 5G mobile RF module customer, bringing our total number of mobile customers to five. We have also recently announced new Wi-Fi design wins, all of which are expected to ramp into production in calendar 2022.”
Recent Business Highlights
- Announced an order from a new multi-billion-dollar tier-1 5G mobile front-end module customer for the development of XBAW™ filters for mobile smartphones and other devices
- Announced receipt of a follow-on order to optimize design of a 5G mobile filter and shipped second design to tier-1 RF component customer in Akoustis’ new wafer-level-packages developed and manufactured in-house
- Received order to reiterate initial filter for tier-2 5G mobile customer and started development of resonator models for two additional filters
- Continued the migration of the development and manufacture of new Akoustis’ wafer level packaging (WLP) process into our New York fab
- Fully qualified 5.5 GHz and 6.5 GHz Wi-Fi 6E XBAW™ filter solutions
- Received two Wi-Fi 6E design wins for MU-MIMO router products from two customers, bringing the total number of Wi-Fi design wins to fifteen
- Continued production ramp with five Wi-Fi customers
- Shipped first samples of first diplexer product to leading Fortune 100 PC chipset customer and iterating engineering sample 2, expected to ship in June quarter
- Ramped initial production for two Citizens Broadband Radio Service (CBRS) customers
- Received design win for third CBRS customer
- Received follow-on purchase order for new XBAW™ resonator for the timing control market
- Continued DARPA direct-to-phase II (DP2) contract to advance design and manufacturing of XBAW technology for filters and other sensors
- Completed the acquisition of the remaining interest in RFMi Inc. - a RF product leader with over 400 RF SAW resonator & filter and crystal resonator & VCO timing control products in its expanding portfolio
- Continued growth of its XBAW patent portfolio to 58 issued and licensed patents plus 100 patents pending as of April 15, 2022
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. To date, Akoustis has received more than 20 customer design wins for its patented XBAW™ filter solutions.
Given the rapidly growing sales funnel activity as well as ongoing interaction with customers regarding expected ramps in 5G mobile, Wi-Fi 6 and Wi-Fi 6E in calendar 2022, the Company plans to increase the annual production capacity at its New York fab to approximately 500 million filters per year.
Click here to learn more about XBAW™ technology from Akoustis.
Click here to read an Interview with Colin Hunt from Akoustis.