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 it has received its first
XBAWTM design win for the WiFi market from a tier-1 OEM and expects
to ramp shipments beginning in the June quarter.
This is the second commercial design win the
Company has announced in the past month. In early April, Akoustis
announced its first 5G network infrastructure design win with a
tier-1 OEM.
The WiFi customer is a leading consumer-focused
OEM that is developing its first tri-band CPE product using
multiple Akoustis 5.2 and 5.6 GHz XBAWTM filters. The new
consumer-focused product supports up to 4x4 multi-user
multiple-in-multiple-out (MU-MIMO) radio architectures and is
expected to be commercially available in the second half of
calendar 2020. Akoustis has received its first 3 high volume
purchase orders to support this customer’s tri-band WiFi CPE
product.
Jeff Shealy, founder and CEO of Akoustis,
stated, “We are excited to announce this major milestone with our
first design win in WiFi CPE incorporating our 5.2 and 5.6 GHz
coexistence filters in a consumer product. WiFi presents a
significant market opportunity for Akoustis as tri-band, MU-MIMO
and mesh system architectures are creating significant content
growth in RF filters.” Mr. Shealy continued, “Furthermore, with
recent FCC announcements, we expect the WiFi market will continue
to expand as WiFi 6E emerges and tri-band systems become a greater
percentage of the market over the coming years, which will require
coexistence filters where high frequency, wide bandwidth and
high-power handling capabilities in small form factor are
paramount.”
Currently, Akoustis is working with multiple
customers in its sales funnel that expect to launch WiFi CPE
products in calendar 2020 and beyond. Separately, the Company is
developing its first WiFi 6E filters and expects to announce its
first product and delivery of initial samples later in the June
quarter.
The 5.2 GHz and 5.6 GHz WiFi filters are
manufactured using the Company’s proprietary and patented XBAWTM
process housed within the Company’s Si-MEMS Wafer Fab located in
Canandaigua, NY.
Akoustis has added twelve filters to its product
catalog including a 5.6 GHz filter, a 5.2 GHz WiFi filter, two
small cell network infrastructure filters including a 4.9 GHz band
n79 filter, a 3.8 GHz filter and five S-Band filters for defense
phased-array radar applications, a 3.6 GHz filter for the CBRS
infrastructure market and a C-Band filter for the unmanned aircraft
systems (UAS) market. The Company is also developing several new
filters for the sub-7 GHz bands targeting 5G mobile device, network
infrastructure, WiFi CPE and defense markets.
About Akoustis Technologies,
Inc.
Akoustis® (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 incumbent polycrystalline BAW technology
deployed today. The Company utilizes its proprietary 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 high-purity,
single-crystal and associated piezoelectric materials and the
resonator-filter process technology which drives electro-mechanical
coupling and translates to wide filter bandwidth.
Akoustis plans to service the fast growing
multi-billion-dollar RF filter market using its integrated
device manufacturer (IDM) business model. The Company owns and
operates a 120,000 sq. ft. ISO-9001:2015
certified 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
This document includes “forward-looking
statements” within the meaning of Section 27A of the Securities
Act, and Section 21E of the Securities Exchange Act of 1934, as
amended, that are intended to be covered by the “safe harbor”
created by those sections. These forward-looking statements
include, but are not limited to, statements about our estimates,
expectations, beliefs, intentions, plans or strategies for the
future (including our possible future results of operations,
business strategies, competitive position, potential growth
opportunities, potential market opportunities and the effects of
competition), and the assumptions underlying such statements.
Forward-looking statements include all statements that are not
historical facts and typically are identified by use of terms such
as "may," "will," "should," "could," "expect," "plan,"
"anticipate," "believe," "estimate," "predict," “intend,”
“forecast,” “seek,” "potential," "continue" and similar words,
although some forward-looking statements are expressed differently.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, these forward-looking
statements are based on management’s current beliefs,
expectations and assumptions and are subject to risks and
uncertainties. Factors that could cause actual results to
differ materially from those currently anticipated include, without
limitation, risks relating to the results of our research and
development activities, including uncertainties relating to
semiconductor process manufacturing; the development of our XBAWTM
technology and products presently under development and the
anticipated timing of such development; our ability to protect our
intellectual property rights that are valuable to our business,
including patent and other intellectual property rights; our
ability to successfully manufacture, market and sell products based
on our technologies; the ability to achieve qualification of our
products for commercial manufacturing in a timely manner and the
size and growth of the potential markets for any products so
qualified; the rate and degree of market acceptance of any of our
products; our ability to achieve design wins from current and
future customers; our ability to raise funding to support
operations and the continued development and qualification of our
products and the technologies underlying them; our ability to
service our outstanding indebtedness; and the effects of a pandemic
or epidemic or a natural disaster, including the Covid-19 pandemic.
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:
Tom Sepenzis
Akoustis Technologies
VP of Corporate Development & IR
(980) 689-4961
tsepenzis@akoustis.com
The Del Mar Consulting Group, Inc.
Robert B. Prag, President
(858) 794-9500
bprag@delmarconsulting.com
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