Q3 Revenue Up 7% Quarter-Over-Quarter Filter-Related Revenue Up 13% Quarter-Over-Quarter, Third Highest in Company History Growth, Cost Savings Initiatives, CHIPS Act ITC Refund Support Operating Cash Flow Breakeven in Next Nine MonthsRobust Customer Activity in Wi-Fi AP, 5G Infrastructure, Defense, Timing Control, Semiconductor Back-End Services Company to Host Investor Update Call Today at 8:00 am ET Charlotte, N.C., May 13, 2024 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (NASDAQ:AKTS) ("Akoustis" ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-38029 AKOUSTIS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) | Delaware | 33- ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Akoustis (AKTS) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move ...

Core Viewpoint - Akoustis Technologies, Inc. has secured orders from a Tier-1 Network Infrastructure customer for the integration of high-performance XBAW® filters into Wi-Fi 7 fixed wireless access platforms, with production ramp scheduled throughout 2024 [1][2][3] Group 1: Product and Technology - The XBAW® filters will enhance the capabilities of the customer's quad-band Wi-Fi 7 enterprise and home gateway solutions, featuring 4x4 MIMO technology [2] - Two filters will operate in the 5-Hi GHz band with a narrow passband of 345 MHz, while another two will cover the full 6 GHz band with an ultrawide passband of 1180 MHz [2] - Additional filters for a tri-band Wi-Fi 7 home gateway will operate at 5.5 and 6.5 GHz, enabling coexistence with various U-NII bands [2] Group 2: Business Development and Market Position - The company is experiencing robust demand and an expanding sales pipeline for its XBAW® filter products, as well as new resonator and oscillator products [3] - Akoustis is actively securing new design wins in target markets such as Wi-Fi, 5G Infrastructure, Automotive, and Defense, with many slated for production in the coming months [3] - The company operates a 125,000 sq. ft. ISO-9001:2015 registered wafer-manufacturing facility in Canandaigua, NY, equipped for the design and fabrication of RF filters and semiconductor devices [5]

Core Viewpoint - The article discusses speculative penny stocks, highlighting their high-risk nature and potential for significant returns, emphasizing the trade-off between predictability and potentiality in investment choices [1]. Company Summaries Akoustis Technologies (AKTS) - Akoustis Technologies operates in the communications equipment sector, focusing on RF filter products for mobile devices, with shares closing at 58.5 cents [2]. - Analysts have a moderate buy consensus with an average price target of $1, indicating a 71% upside potential [2]. - Expected loss per share is projected to improve from 88 cents to 67 cents, with revenue anticipated to reach $32.86 million, a 21.2% year-over-year increase [3]. FTC Solar (FTCI) - FTC Solar provides solar tracker systems and services, closing at 51 cents [5]. - The consensus among analysts is a moderate buy, with an average price target of 99 cents, suggesting over 94% upside potential [5]. - Loss per share is expected to improve from 30 cents to 16 cents, with projected revenue of $158.93 million, a 25.1% increase from fiscal 2023 [6]. Gold Resource (GORO) - Gold Resource is involved in gold and silver mining, priced at 56 cents [7]. - One analyst rates it a buy with a price target of $1.50, indicating a potential upside of nearly 168% [7]. - Revenue for the current fiscal year is projected to average $85.99 million, with a high-side target of $105.3 million [8]. Arbe Robotics (ARBE) - Arbe Robotics specializes in 4D imaging radar solutions for the automotive sector, with shares rated a strong buy and an average price target of $3.50 [10]. - The average loss per share for fiscal 2023 was 16.8 cents, but revenue is expected to grow to $1.65 million in fiscal 2024, a 12.2% increase [11]. Stem (STEM) - Stem operates in the renewable energy storage sector, with a moderate buy consensus and an average price target of $3.63, implying over 96% upside potential [12]. - The company reported a quarterly surprise of 23.45% below expectations, but revenue for fiscal 2024 is projected to reach $672.15 million, a 45.6% increase from the previous year [13]. Microvast (MVST) - Microvast focuses on battery technologies for electric vehicles, priced at just under 52 cents [14]. - Analysts rate it a moderate buy with a price target of $3.33, indicating over 542% upside potential [14]. - Revenue for fiscal 2024 is expected to reach $349.13 million, a 13.9% growth from the previous year [15]. Gevo (GEVO) - Gevo operates in the specialty chemicals sector, trading at 71 cents [16]. - The company has faced challenges, with a quarterly surprise of 40% below expectations, but revenue is projected to grow to $19.87 million in the current fiscal year, a 15.5% increase [17].

Tier-1 Customer to Use High-Performance Akoustis XBAW® Filters in 4X4 MU-MIMO Enterprise Router PlatformCompany Has Received Volume Orders to Facilitate Production Ramp in the Second Half of Calendar Year 2024 Charlotte, N.C., April 08, 2024 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (NASDAQ:AKTS) ("Akoustis" or the "Company"), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today that high-performan ...

New High-Performance 2.4 GHz Channel 1-11 XBAW® Bandedge RF Filters for Improved Wi-Fi Range and Coexistence with LTEThe A10124 and A10324 is Currently Sampling and Slated for Production Second Half of Calendar Year 2024 Charlotte, N.C., April 03, 2024 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (NASDAQ:AKTS) ("Akoustis" or the "Company"), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today two new ...

Core Viewpoint - Akoustis Technologies, Inc. is experiencing strong demand and an expanding sales pipeline for its XBAW® filter products and related services, indicating positive growth prospects in the RF filter market [2]. Group 1: Company Overview - Akoustis Technologies, Inc. is an integrated device manufacturer (IDM) specializing in patented bulk acoustic wave (BAW) high-band RF filters for mobile and wireless applications [1][3]. - The company utilizes its proprietary XBAW® manufacturing process to produce RF filters that enhance signal acquisition and performance [3]. - Akoustis operates a 125,000 sq. ft. wafer-manufacturing facility in Canandaigua, NY, equipped for the design and fabrication of RF filters and semiconductor devices [4]. Group 2: Market Position and Products - The company is targeting the multi-billion-dollar RF filter market with its innovative products, including XBAW® filters, resonators, oscillators, and semiconductor back-end services [2][4]. - Akoustis is securing new design wins in key markets such as Wi-Fi, 5G Infrastructure, Automotive, and Defense, with production ramp-ups expected in the coming months [2]. Group 3: Upcoming Events - Founder and CEO Jeff Shealy will attend the 36th Annual Roth Conference from March 17-19, 2024, providing an opportunity for investors to engage with the company's management [1].

Charlotte, N.C., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (NASDAQ:AKTS) ("Akoustis" or the "Company"), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today that the Company will an exhibitor at the GOMACTech Conference. The event is being held in Charleston, South Carolina, at the Embassy Suites by Hilton, Charleston Convention Center from March 18-21, 2024. Akoustis will be featured ...

Financial Data and Key Metrics Changes - For Q2 2024, the company reported revenue of $7 million, flat compared to the previous quarter but up 20% year-over-year [19] - The GAAP operating loss was $15 million, driven by labor costs of $8 million, depreciation and amortization of $3.2 million, and other operational costs totaling $10.8 million [19] - Cash used in operating activities was $11.3 million, which included additional payroll costs and increased legal costs [20] - The company expects to achieve operating cash flow breakeven later in the year, with a projected revenue range of $11 million to $15 million per quarter to reach this goal [25][21] Business Line Data and Key Metrics Changes - XBAW-related sales accounted for the top 5 customers and 7 out of the top 10 customers, with the top 10 customers making up 58% of revenue [5] - The company secured design wins for Wi-Fi 7 solutions with tier 1 customers, indicating strong demand in the Wi-Fi segment [9][10] - In the 5G mobile market, the company recognized filter sales to a tier 1 RF component customer and shipped the first of three Wi-Fi filters to a tier 2 5G mobile RF front end module customer [11][12] Market Data and Key Metrics Changes - 40% of sales came from Asia, 47% from North America, and 13% from Europe, with the top 36 customers accounting for 80% of revenue [6] - The company expects modest growth in shipments to return in the March quarter for the 5G network infrastructure business [13] - The defense and other markets saw significant engagement, with two out of the top 10 customers in this category [14] Company Strategy and Development Direction - The company is focusing on expense reduction and cost savings to significantly reduce cash burn moving forward, estimating a reduction of 30% to 38% in the March quarter [21] - Membership in microelectronics hubs related to the CHIPS Act is expected to enhance the company's access to government research programs [8] - The company is aggressively pursuing product cost savings to lower operating expenses and improve gross margin [23] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to record quarterly revenue in Q3 2024, with expected growth of 18% to 25% sequentially [7] - The company believes it has worked through inventory issues from 2023 and anticipates a return in demand for Wi-Fi products [6] - Management highlighted the substantial market opportunity for their patented high-frequency XBAW and XP3F filters, with a strong IP portfolio [22] Other Important Information - The company completed its New York fab tool capacity expansion project, increasing capacity to 500 million filters per year [20] - The company estimates a refundable tax credit of $3.7 million to $4.7 million over the next 12 to 15 months under the CHIPS Act [8] Q&A Session Summary Question: Can you talk about the new revenue per quarter for breakeven in Q4 and expected gross margins? - The company predicts revenue needed for operating cash flow breakeven to be in the $11 million to $15 million range per quarter, assuming a margin of 20% to 25% [25] Question: What is the status of Wi-Fi inventory and design activity? - Management confirmed that Wi-Fi inventory is normalized, with ongoing design wins and expected strong momentum in Wi-Fi 7 [28][32] Question: What is the outlook for consumer versus enterprise Wi-Fi products? - The company is seeing strong activity in enterprise products, with significant dollar content, while also beginning to penetrate the consumer market [33][35] Question: What is the CapEx outlook for calendar 2024? - The company does not anticipate significant CapEx spending for the remainder of 2024, expecting it to be in the hundreds of thousands per quarter or less [38] Question: Can you provide an update on the litigation with Qorvo? - The company believes the facts do not support Qorvo's allegations and has filed motions to challenge key parts of Qorvo's claims [53][54]