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 that a leading commercial SATCOM
company placed a new development order. Along with three existing
customers, all utilize the Company’s Process Design Kits (PDKs) and
XBAW® foundry process to address applications in Satellite
Communications, Wi-Fi, Mobile, and Defense.
Akoustis is a pureplay BAW filter company
originally focused on an Integrated Device Manufacturer (IDM) model
and has recently expanded to provide a BAW foundry servicing North
America, Europe, and Asia regions. The Company’s foundry services
are primarily focused on 2 to 20 GHz in Commercial and Defense
applications. In addition, Akoustis has released its new XBAW®
Synthesizer software available for parties to explore the
performance of XBAW® technology through the Company’s website. The
software allows users to input parameters, such as bandwidth,
rejection, and return loss, to generate a filter response and
download the filter design s-parameter file.
The Company’s XBAW® PDK provides designers the
capability to create, simulate, draft, and validate designs prior
to submitting them to Akoustis’ foundry for chip manufacturing. The
XBAW® PDK will streamline the design process and increase chances
of first-pass successful filter design. The XBAW® PDK offers a
synthesizer for designs to work within the AWR environment and a
layout automation tool. The layout generated, along with other
fabrication layers, enables the final die layout ready for full 3D
EM simulation in one step.
Jeff Shealy, founder and CEO of Akoustis,
stated, “With the release of our new XBAW® synthesizer software and
integration of the PDK download, we are empowering all levels of
engineering to design BAW RF filters expanding above 10 GHz.” Mr.
Shealy continued, “As we continue to receive new orders for our
foundry services, the XBAW® PDK is a revolutionary development
offering a comprehensive toolkit, which accelerates the design
process and equips us to meet and exceed the demands of our
existing customer base, keeping us at the forefront of RF
advancements.”
Akoustis maintains its momentum with robust
demand and an expanding sales pipeline for its XBAW® filter
products, in addition to its new XBAW®/SAW resonator and oscillator
products, and semiconductor back-end services. The Company
continues to secure new design wins in its target markets including
Wi-Fi, 5G Infrastructure, and Automotive, many of which are slated
to ramp into production in the coming months.
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 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 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
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, each
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,
profitability, business strategies, competitive position, potential
growth opportunities, potential market opportunities and the
effects of competition), the anticipated benefits of the
acquisition of Grinding and Dicing Services, Inc., future cash flow
and forecasts of breakeven point and expectations regarding funding
under the CHIPS and Science Act, 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,” “might,” “would,” “will,” “should,”
“could,” “project,” “expect,” “plan,” “strategy,” “anticipate,”
“attempt,” “develop,” “help,” “believe,” “think,” “estimate,”
“predict,” “intend,” “forecast,” “seek,” “potential,” “possible,”
“continue,” “future,” and similar words (including the negative of
any of the foregoing), although some forward-looking statements are
expressed differently. Forward-looking statements are neither
historical facts nor assurances of future results, performance,
events or circumstances. 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 our inability to obtain adequate
financing and sustain our status as a going concern; our limited
operating history; our inability to generate revenues or achieve
profitability; the results of our research and development
activities; our inability to achieve acceptance of our products in
the market; the possibility that the anticipated benefits from
business acquisitions (including the acquisition of Grinding and
Dicing Services, Inc.) will not be realized in full or at all or
may take longer to realize than expected; the possibility that
costs or difficulties related to the integration of acquired
businesses’ operations will be greater than expected and the
possibility of disruptions to our business during integration
efforts and strain on management time and resources; the
impact of a pandemic or epidemic or a natural disaster, including
the COVID-19 pandemic, the Russian-Ukrainian conflict and other
sources of volatility on our operations, financial condition and
the worldwide economy, including its impact on our ability to
access the capital markets; increases in prices for raw materials,
labor, and fuel caused by rising inflation; general economic
conditions, including upturns and downturns in the industry;
shortages in supplies needed to manufacture our products, or needed
by our customers to manufacture devices incorporating our products;
our limited number of patents; failure to obtain, maintain, and
enforce our intellectual property rights; claims of infringement,
misappropriation or misuse of third party intellectual property,
including the lawsuit filed by Qorvo, Inc. in October 2021, that,
regardless of merit, could result in significant expense and
negatively impact our business results; our inability to attract
and retain qualified personnel; our reliance on third parties to
complete certain processes in connection with the manufacture of
our products; product quality and defects; existing or increased
competition; our ability to successfully manufacture, market and
sell products based on our technologies; our ability to meet the
required specifications of customers and achieve qualification of
our products for commercial manufacturing in a timely manner; our
inability to successfully scale our New York wafer fabrication
facility and related operations while maintaining quality control
and assurance and avoiding delays in output; the rate and degree of
market acceptance of any of our products; our ability to achieve
design wins from current and future customers; contracting with
customers and other parties with greater bargaining power and
agreeing to terms and conditions that may adversely affect our
business; risks related to doing business in foreign countries,
including China; any security breaches, cyber-attacks or other
disruptions compromising our proprietary information and exposing
us to liability; our failure to innovate or adapt to new or
emerging technologies, including in relation to our competitors;
our failure to comply with regulatory requirements; results of any
arbitration or litigation that may arise; stock volatility and
illiquidity; dilution caused by any future issuance of common stock
or securities that are convertible into or exercisable for common
stock; our failure to implement our business plans or strategies;
and our ability to maintain effective internal control over
financial reporting. 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
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