Akoustis Pockets Purchase Order From New Tier-1 Mobile Customer

Akoustis Technologies Inc AKTS won a purchase order from a new customer to develop a 5G mobile XBAW filter. The financial terms of the deal remain undisclosed.
The new customer is a multi-billion-dollar tier-1 module maker that plans to use Akoustis' patented XBAW technology to deliver 5G mobile modules in challenging bands above 2GHz.
Akoustis is an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications.
Akoustis looks to help develop initial filter samples in the next several months and establish a foundry arrangement with the customer targeting production ramp in the second half of calendar 2023.
Upon successfully delivering this initial filter, Akoustis anticipates the customer develop additional 5G mobile filters using the XBAW and Process Design Kit (PDK).
Given the rapidly growing sales funnel activity and ongoing interaction with customers regarding expected ramps in 5G mobile, WiFi 6, and WiFi 6E in CY22, Akoustis aims to ramp up annual production capacity at its New York fab to 500 million filters per year.
Price Action: AKTS shares traded higher by 1.58% at $7.08 on the last check Thursday.