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.