Akoustis Technologies Inc
NASDAQ:AKTS
Akoustis Technologies Inc
Akoustis Technologies, Inc. is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. The company is headquartered in Huntersville, North Carolina and currently employs 156 full-time employees. The company went IPO on 2017-03-13. The firm operates through two segments: Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment consists of engineering review services and STC-MEMS foundry services. The RF Filters segment consists of amplifier and filter product sales, and grant revenue. The firm is developing RF filters for fifth generation (5G), wireless fidelity (WiFi) and defense bands through its resonator device models and product design kits (PDKs). The firm is focused on developing, designing and manufacturing radio frequency (RF) filter solutions for the wireless industry for products, including smartphones and tablets, network infrastructure equipment, WiFi, Customer Premise Equipment (CPE) and defense applications. The firm has developed XBAW, which is a microelectromechanical system (MEMS) based bulk acoustic wave (BAW) technology and a manufacturing process flow.
Akoustis Technologies, Inc. is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. The company is headquartered in Huntersville, North Carolina and currently employs 156 full-time employees. The company went IPO on 2017-03-13. The firm operates through two segments: Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment consists of engineering review services and STC-MEMS foundry services. The RF Filters segment consists of amplifier and filter product sales, and grant revenue. The firm is developing RF filters for fifth generation (5G), wireless fidelity (WiFi) and defense bands through its resonator device models and product design kits (PDKs). The firm is focused on developing, designing and manufacturing radio frequency (RF) filter solutions for the wireless industry for products, including smartphones and tablets, network infrastructure equipment, WiFi, Customer Premise Equipment (CPE) and defense applications. The firm has developed XBAW, which is a microelectromechanical system (MEMS) based bulk acoustic wave (BAW) technology and a manufacturing process flow.
Revenue: Q3 revenue was $7.5 million, up 7% sequentially, but impacted by the unexpected end of a major Wi-Fi 6E program.
Guidance: Management expects June quarter revenue to be flat to down 5% due to the Wi-Fi 6E transition and the ramp-up of Wi-Fi 7.
Cash Burn: Operating cash burn fell by 31% in Q3, with further 30% reduction targeted for the June quarter as cost cuts continue.
Margins: Margins are expected to move from single to double digits in upcoming quarters as new, lower-cost products come online.
Litigation Risk: An ongoing trial with Qorvo could have a significant impact, with the possibility of an 8-figure verdict against Akoustis.
CHIPS Act: Akoustis expects $2.8–4 million in refundable tax credits over the next 9–12 months from the CHIPS Act.
Wi-Fi 7 Outlook: Management remains bullish on Wi-Fi 7, tracking 9 design wins, and expects ramp-up in the second half of 2024.
