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November 1 , 2021 AKOUSTIS Akoustis Reports Fiscal First Quarter 2022 Results • Q1FY22 Revenue of $ 1.9M Representing an Increase of Nearly 300 % Year - Over Year • December Revenue Guidance of $ 3.5- $ 4.0M Expected to be Up Nearly 100 % Sequentially at the Mid - Point Robust Customer Activity and Design Win Pipeline in 5G Mobile , WiFi CPE , Infrastructure and Other Markets • XBAW Filters Entering Production in Core WiFi 6E and Network Infrastructure Segments in Current Quarter • Company to Host Investor Update Call Today at 8:00 am ET Charlotte , N.C. , Nov. 01 , 2021 ( 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 a 290 % year - over - year increase in revenue to $ 1.9 million for the 2022 fiscal first quarter ended September 30 , 2021. Revenue was in - line with the Company's previous guidance of approximately $ 2.0 million , despite continuing headwinds stemming from both the Coronavirus and worldwide supply chain challenges . The Company had $ 75.7 million in cash as of September 30 , 2021 . Akoustis will host an investor call to provide a business update and outlook , followed by a Q & A session this morning at 8:00 a.m. EDT . The call - in numbers are 877-407-3982 ( domestic ) or +01 201-493-6780 ( international ) . The conference call will be webcast live on the Company's website and will be available for playback at the following URL : https://ir.akoustis.com/ir-calendar . Jeff Shealy , founder and CEO of Akoustis , stated , “ Despite the ongoing macro headwinds , Akoustis is steadily growing its pipeline of XBAWTM designs and customers . We expect to return to double - digit sequential revenue growth in the December quarter , as we ramp volume XBAW RF filter solutions to multiple customers across the WiFi 6 , WiFi 6E , 5G network infrastructure and other markets . " Mr. Shealy continued , " We continue to experience strong demand and a growing sales funnel for our WiFi 6E , 5G mobile and CBRS XBAW ™ M filters . Importantly , our efforts in 5G mobile have been rewarded with the foundry agreement announced last quarter and , as we announced today , we have just engaged with a third mobile customer , a leading 4G / 5G RF component maker focused on markets in Asia . " Akoustis is actively delivering volume production of its WiFi 6 tandem filter solutions , shipping multiple 5G small cell XBAWTM filter solutions , delivering initial designs of its new 5G mobile filter solutions to multiple customers and is now entering the market with its new WiFi 6E coexistence XBAW T filter solutions .