Akoustis Receives an Additional Purchase Order for $13 Million XBAW® Filters from Existing Tier-1 Customer

Charlotte, NC, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Akoustis Receives an Additional Purchase Order for $13 Million XBAW^® Filters from Existing Tier-1 Customer

• Raises Production Commitments for XBAW RF filters from Tier-1 Customer to greater than $21M, plus a customer option to increase order quantities
  
  

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 has received an additional purchase order for $13M from an existing Tier-1 customer to satisfy the customer’s demand for seven¹ Wi-Fi Access Points (AP) production programs.

The collaboration highlights the robust relationship with this Wi-Fi Access Point customer. Including the prior $8M PO announced previously, the purchase orders are valued at greater than $21 Million and the arrangement also allows the customer to purchase additional quantities of XBAW RF filters depending on demand of their Wi-Fi AP product.

“This new purchase order cements the strong relationship Akoustis has with this Tier1 Wi-Fi AP customer, whose architecture is well-served by Akoustis’ advanced filter capabilities and XBAW^® products”, stated Colin Hunt, Akoustis VP of Sales and Business Development. Mr. Hunt continued, “We plan on delivering several million units over the next 3-4 quarters to this customer—all of which are produced in our New York fab. This demand will support our customer’s existing Wi-Fi 6E and their new ramping Wi-Fi 7 platforms”.

Pursuant to prior purchase orders and this new purchase order, Akoustis will be delivering a total of ten unique narrowband and wideband XBAW^® filters, four of which are previous generation and six of which are next generation designs focused on providing improved performance in a smaller form factor, demonstrating an overall lower cost platform.

About Akoustis Technologies, Inc.

Akoustis^® (http://www.akoustis.com/) is a high-tech BAW RF filter solutions company that is pioneering next-generation materials science and MEMS wafer manufacturing to address the market requirements for improved RF filters — targeting higher bandwidth, higher operating frequencies and higher output power compared to legacy polycrystalline BAW technology. The Company utilizes its proprietary and patented XBAW^® manufacturing process to produce bulk acoustic wave RF filters for mobile and other wireless markets, which facilitate signal acquisition and accelerate band performance between the antenna and digital back end. Superior performance is driven by the significant advances of poly-crystal, single-crystal, and other high purity piezoelectric materials and the resonator-filter process technology which enables optimal trade-offs between critical power, frequency and bandwidth performance specifications.

Akoustis owns and operates a 125,000 sq. ft. ISO-9001:2015 registered commercial wafer-manufacturing facility located in Canandaigua, NY, which includes a class 100 / class 1000 cleanroom facility — tooled for 150-mm diameter wafers — for the design, development, fabrication and packaging of RF filters, MEMS and other semiconductor devices. Akoustis Technologies, Inc. is headquartered in the Piedmont technology corridor near Charlotte, North Carolina.

Forward-Looking Statements

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These and other risks and uncertainties are described in more detail in the Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of the Company’s most recent Annual Report on Form 10-K and in subsequently filed Quarterly Reports on Form 10-Q. Considering these risks, uncertainties and assumptions, the forward-looking statements regarding future events and circumstances discussed in this document may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements included in this document speak only as of the date hereof and, except as required by law, we undertake no obligation to update publicly or privately any forward-looking statements, whether written or oral, for any reason after the date of this document to conform these statements to new information, actual results or to changes in our expectations.

Contact:

COMPANY:
Kenneth Boller
Akoustis Technologies
Chief Financial Officer
(704) 274-3598
kboller@akoustis.com