Company Announcements

• Tier-1 Customer to Use Akoustis’ Next-Generation 5.5 and 6.5 GHz Wi-Fi XBAW^® Filters in Tri-Band 4x4 MIMO Router
• Secured Wi-Fi 7 Filter Orders to Support Production Beginning in July 2024 Through March 2025  

Charlotte, N.C., June 27, 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 has received $2M in production orders from Tier-1 carrier customer to satisfy demand for two of its industry-leading XBAW^® filters integrated into a Wi-Fi 7 platform.

Wi-Fi technology continues to advance to enable higher data transfer rates and greater density per transmission. With the integration of multiple Akoustis XBAW^® filters, the filters support the 5 and 6 GHz Wi-Fi bands with Multi-Link Operation (MLO) and higher throughput, lower latency, and 10 Gbps. The customer’s router caters to residential, small, and medium-sized businesses. The Company supported the initial ramp in first half of calendar year 2024 and received the recent volume orders to support production through the end of March 2025.

Dave Aichele, Executive Vice President of Business Development of Akoustis, stated, “Akoustis is currently securing strong backlog in Wi-Fi 6E and new Wi-Fi 7 programs, which we expect to achieve record revenue in the September quarter.” Mr. Aichele continued, “As the demand for high-speed connectivity continues to rise, we are proud to provide compact, high-performance solutions that allow our customers to meet and exceed these expectations.” 

Akoustis maintains its momentum in advanced Wi-Fi and expects to announce additional and larger production orders in the coming weeks.

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

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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. 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