Akoustis Technologies, Inc. (NASDAQ:AKTS) Q1 2024 Earnings Conference Call November 13, 2023 8:00 AM ET Company Participants Tom Sepenzis - IR Jeff Shealy - Founder & CEO Ken Boller - CFO Dave Aichele - EVP of Business Development Conference Call Participants Anthony Stoss - Craig-Hallum Craig Ellis - B. Riley Securities Suji Desilva - ROTH MKM Operator Good day, ladies and gentlemen, and welcome to the Akoustis Technologies Fiscal 2024 First Quarter Conference Call. As a reminder, this conference call is b ...

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 September 30, 2023 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 | ...

Financial Data and Key Metrics Changes - For Q4 2023, the company reported revenue of $8.3 million, a 13% increase from the previous quarter and a 60% year-over-year increase [21] - The GAAP operating loss was $17.9 million, with a GAAP net loss per share of $0.25 [22] - Cash used in operating activities was $8.7 million, showing a 12% improvement from the prior quarter [22] - The company exited Q4 with $43.1 million in cash and cash equivalents, down from $52.7 million in the previous quarter [22] Business Line Data and Key Metrics Changes - Filter product revenue grew by 41% sequentially, driven by Wi-Fi 6E demand and shipments to a tier-1 5G mobile RF component customer [5] - The top 10 customers accounted for 63% of revenue, with the top two customers increasing their sequential revenue by 18% and 3% respectively [6] Market Data and Key Metrics Changes - The company is experiencing challenges in the consumer electronics market due to high component inventory levels and weak demand, particularly in mobile handsets [7] - Revenue for the September quarter is expected to decline by approximately 15% due to broader market weakness [23] Company Strategy and Development Direction - The company is focusing on expanding its domestic manufacturing footprint under the CHIPS Act, with plans to file a final application by the end of the calendar year [9] - New product introductions and design wins are expected to drive substantial revenue growth over the next 24 months [7][26] Management's Comments on Operating Environment and Future Outlook - Management noted a challenging macro environment but remains optimistic about new design wins and product introductions [7][25] - The company expects to see a rebound in revenue as inventory levels normalize in 2024 [12] Other Important Information - The company is actively involved in litigation with Qorvo, with ongoing developments in both lawsuits [24][25] - The introduction of new XP3F technology is expected to create significant opportunities in defense and commercial markets [20] Q&A Session Summary Question: Wi-Fi 7 volume revenue expectations - Management expects Wi-Fi 7 activity to pick up in Q2 of next year, with engagements in both carrier and enterprise sectors [31] Question: Smartphone tablet customer audit - The successful audit is a significant milestone, and management will provide better guidance as traction with the customer develops [32] Question: Gross margins and cash flow breakeven - Management is implementing initiatives to improve gross margins and expects to reach cash flow breakeven in Q4 2024 with revenue of $15 million to $18 million per quarter [36][37] Question: September quarter revenue decline - Management anticipates a 15% decline in revenue for the September quarter, with some softness expected to continue into the December quarter [40][42] Question: Mobile market production ramp - Management indicated that visibility into the China mobile market is limited, and they will provide updates as trends improve [46] Question: Updates on CHIPS Act funding - Management will provide updates on potential funding in early November, as contract negotiations are ongoing [50]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 | 33-1229046 | | --- | --- | | (St ...

Akoustis Technologies, Inc. (NASDAQ:AKTS) Q3 2023 Earnings Conference Call May 8, 2023 8:00 AM ET Company Participants Tom Sepenzis - VP of Corporate Development & IR Jeff Shealy - Founder & CEO Ken Boller - CFO David Aichele - EVP of Business Development Conference Call Participants Anthony Stoss - Craig-Hallum Capital Group Suji Desilva - ROTH Robert Argano - Piper Sandler Operator Good day, ladies and gentlemen, and welcome to the cTechnologies Fiscal 2020 Third Quarter Conference Call. As a reminder, th ...

PART I — FINANCIAL INFORMATION Presents Akoustis Technologies, Inc.'s unaudited condensed consolidated financial statements and notes for March 31, 2023, and June 30, 2022 [ITEM 1. FINANCIAL STATEMENTS](index=4&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) Presents Akoustis Technologies, Inc.'s unaudited condensed consolidated financial statements and detailed notes for the periods ended March 31, 2023, and June 30, 2022 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Summarizes the Company's financial position, including assets, liabilities, and equity, as of March 31, 2023, and June 30, 2022 | Metric (in thousands) | March 31, 2023 | June 30, 2022 | | :-------------------- | :------------- | :------------ | | Cash and cash equivalents | $52,749 | $80,485 | | Total current assets | $68,219 | $91,731 | | Total Assets | $157,505 | $161,338 | | Total current liabilities | $11,807 | $12,658 | | Total Liabilities | $57,046 | $57,908 | | Total Stockholders' Equity | $100,459 | $103,430 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Details the Company's revenues, costs, and net loss for the three and nine months ended March 31, 2023, and 2022 | Metric (in thousands) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Nine Months Ended March 31, 2023 | Nine Months Ended March 31, 2022 | | :-------------------- | :-------------------------------- | :-------------------------------- | :------------------------------- | :------------------------------- | | Revenue | $7,356 | $4,607 | $18,788 | $10,146 | | Cost of revenue | $8,472 | $5,370 | $20,200 | $12,821 | | Gross profit (loss) | $(1,116) | $(763) | $(1,412) | $(2,675) | | Total operating expenses | $16,166 | $14,035 | $46,729 | $40,223 | | Loss from operations | $(17,282) | $(14,798) | $(48,141) | $(42,898) | | Net Loss | $(15,545) | $(14,825) | $(45,792) | $(42,920) | | Net loss per common share - basic and diluted | $(0.23) | $(0.27) | $(0.75) | $(0.81) | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Outlines changes in the Company's equity, including common stock, additional paid-in capital, and accumulated deficit | Metric (in thousands) | March 31, 2023 | December 31, 2022 | | :-------------------- | :------------- | :---------------- | | Common Stock Par Value | $72 | $58 | | Additional Paid In Capital | $352,977 | $316,065 | | Accumulated Deficit | $(252,590) | $(237,045) | | Total Equity | $100,459 | $79,078 | - For the nine months ended March 31, 2023, common stock issued for cash, net of issuance costs, contributed **$32,026 thousand** to additional paid-in capital. Stock-based compensation added **$7,454 thousand**, and common stock issued in acquisition added **$1,690 thousand**[16](index=16&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Presents the Company's cash inflows and outflows from operating, investing, and financing activities | Metric (in thousands) | Nine Months Ended March 31, 2023 | Nine Months Ended March 31, 2022 | | :-------------------- | :------------------------------- | :------------------------------- | | Net Cash Used in Operating Activities | $(36,120) | $(33,273) | | Net Cash Used in Investing Activities | $(23,930) | $(25,556) | | Net Cash Provided by Financing Activities | $32,314 | $26,378 | | Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | $(27,736) | $(32,451) | | Cash, Cash Equivalents and Restricted Cash - End of Period | $52,749 | $55,871 | [Notes to the Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Provides detailed explanations and disclosures supporting the condensed consolidated financial statements [Note 1. Organization](index=11&type=section&id=Note%201.%20Organization) Describes Akoustis Technologies, Inc.'s business, including its RF filter products, XBAW® technology, and recent acquisitions - Akoustis Technologies, Inc. develops, designs, and manufactures innovative radio frequency (RF) filter products for the wireless industry, utilizing its proprietary XBAW® technology and an integrated device manufacturing (IDM) business model. The company also sells complementary surface acoustic wave (SAW) products through its RFM Integrated Device, Inc. subsidiary and offers back-end semiconductor supply chain services via Grinding & Dicing Services, Inc., acquired in January 2023[22](index=22&type=chunk) [Note 2. Liquidity](index=11&type=section&id=Note%202.%20Liquidity) Assesses the Company's ability to meet its short-term and long-term financial obligations - As of March 31, 2023, the Company had **$52.7 million** in cash and cash equivalents and **$56.4 million** in working capital[23](index=23&type=chunk) - The Company expects these funds to be sufficient for operations beyond the next twelve months, supported by **$32.0 million** net proceeds from a January 2023 public offering[24](index=24&type=chunk) - However, the Company has historically incurred operating losses and relies on additional financing, with **$48.0 million** remaining available under its ATM Sales Agreement[25](index=25&type=chunk) [Note 3. Summary of Significant Accounting Policies](index=11&type=section&id=Note%203.%20Summary%20of%20Significant%20Accounting%20Policies) Outlines the key accounting principles and methods used in preparing the financial statements - The unaudited condensed consolidated financial statements are prepared in accordance with U.S. GAAP and SEC rules for interim financial information[27](index=27&type=chunk) - There have been no material changes to the Company's significant accounting policies since the 2022 Annual Report[28](index=28&type=chunk) - The statements include accounts of Akoustis, Inc., RFM Integrated Device, Inc., and Grinding & Dicing Services, Inc., with all significant intercompany transactions eliminated[30](index=30&type=chunk) [Note 4. Revenue Recognition from Contracts with Customers](index=13&type=section&id=Note%204.%20Revenue%20Recognition%20from%20Contracts%20with%20Customers) Explains the Company's policies and methods for recognizing revenue from its various customer contracts - The Company's primary revenue streams are foundry fabrication services (including XBAW foundry, NRE, and back-end supply chain services) and product sales (RF filters and amps)[32](index=32&type=chunk) - Revenue recognition occurs either over time or at a point in time, depending on contract terms for performance obligation satisfaction and title transfer[33](index=33&type=chunk) Revenue by Segment and Geographic Region (in thousands) | Geographic Region | Foundry Fabrication Services Revenue (3M Ended Mar 31, 2023) | Product Sales Revenue (3M Ended Mar 31, 2023) | Total Revenue (3M Ended Mar 31, 2023) | | :---------------- | :----------------------------------------- | :---------------------------- | :------------------------------------ | | Americas | $3,064 | $992 | $4,056 | | Asia | $271 | $2,420 | $2,691 | | Europe | $63 | $546 | $609 | | **Total** | **$3,398** | **$3,958** | **$7,356** | | Geographic Region | Foundry Fabrication Services Revenue (9M Ended Mar 31, 2023) | Product Sales Revenue (9M Ended Mar 31, 2023) | Total Revenue (9M Ended Mar 31, 2023) | | :---------------- | :----------------------------------------- | :---------------------------- | :------------------------------------ | | Americas | $4,914 | $3,123 | $8,037 | | Asia | $1,244 | $7,254 | $8,498 | | Europe | $63 | $2,179 | $2,242 |

Akoustis Technologies, Inc. (NASDAQ:AKTS) Q2 2023 Earnings Conference Call February 7, 2023 8:00 AM ET Company Participants Tom Sepenzis - VP of Corporate Development & IR Jeff Shealy - Founder & CEO Ken Boller - CFO David Aichele - EVP of Business Development Conference Call Participants Harsh Kumar - Piper Sandler Anthony Stoss - Craig-Hallum Capital Group Suji Desilva - ROTH Capital Craig Ellis - B. Riley Securities Operator Good day, ladies and gentlemen, and welcome to the Akoustis Technologies Fiscal ...

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 December 31, 2022 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 | ...

Akoustis Technologies, Inc. (NASDAQ:AKTS) Q1 2023 Earnings Conference Call November 14, 2022 8:00 AM ET Company Participants Tom Sepenzis - Vice President of Corporate Development and Investor Relations Jeff Shealy - Founder and Chief Executive Officer Ken Boller - Chief Financial Officer David Aichele - Executive Vice President of Business Development Conference Call Participants Suji Desilva - ROTH Capital Harsh Kumar - Piper Sandler Anthony Stoss - Craig-Hallum Capital Group Wei Mok - Oppenheimer & Compa ...

Technology Development - Akoustis reported a significant focus on developing RF filter solutions for 5G, Wi-Fi, and defense applications, utilizing proprietary XBAW technology[100] - The company has filed for 73 patents and has 123 pending applications as of October 15, 2022, covering its core resonator device technology and manufacturing processes[103] - Akoustis has begun commercial shipments of single-band low loss BAW filter designs for 5G and Wi-Fi bands, addressing issues like loss and bandwidth[100] - Akoustis has received multiple development orders, including for new XBAW diplexers from a Fortune 100 Internet company and a 5G mobile filter solution for a tier-1 RF module maker[114] - Akoustis plans to pursue RF filter design and R&D agreements to subsidize technology development costs and enhance market intelligence[108] Financial Performance - Revenue for the three months ended September 30, 2022, was $5.6 million, an increase of $3.7 million or 194.7% compared to $1.9 million for the same period in 2021[116] - Cost of revenue increased to $6.5 million for the three months ended September 30, 2022, up $3.6 million or 124.1% from $2.9 million in the prior year[117] - R&D expenses rose to $10.1 million, an increase of $2.1 million or 26.1% compared to $8.0 million for the same period in 2021[118] - G&A expenses increased to $7.0 million, up $3.1 million or 78.6% from $3.9 million in the prior year[118] - The net loss for the three months ended September 30, 2022, was $19.1 million, a 49% increase from a net loss of $12.8 million in the same period in 2021[120] Cash Flow and Assets - Cash and cash equivalents decreased to $60.7 million as of September 30, 2022, down $19.8 million from $80.5 million as of June 30, 2022[123] - Total assets decreased to $144.7 million as of September 30, 2022, from $161.3 million as of June 30, 2022[124] - Equity decreased by $16.7 million or 16.2% to $86.7 million as of September 30, 2022, primarily due to the net loss[125] - Operating activities used cash of $15.0 million during the three months ended September 30, 2022, compared to $12.7 million in the same period in 2021[127] - Investing activities used cash of $4.8 million for the three months ended September 30, 2022, down from $5.4 million in the prior year[127] Market Challenges - The company anticipates continued supply chain challenges and increased costs of goods sold due to global semiconductor shortages, which are expected to persist into 2023[111] - Inflationary pressures have negatively impacted revenue, operating margins, and net income, with some customers reducing or deferring orders[112] Operational Insights - The company operates a fabless business model through its subsidiary RFMi, which sells complementary SAW resonators and RF filters[100] - The company is evaluating the impact of the CHIPS and Science Act of 2022, which supports semiconductor plant construction in the U.S.[113] - Akoustis has a 120,000-square foot wafer-manufacturing facility in New York, where it produces high-performance RF filter circuits[102]