Akoustis Technologies, Inc. (NASDAQ:AKTS) Q4 2019 Earnings Conference Call - Final Transcript

Aug 26, 2019 • 10:00 am ET


Akoustis Technologies, Inc. (NASDAQ:AKTS) Q4 2019 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Akoustis Technologies Business Update Conference Call. As a reminder, this conference call is being recorded. At the conclusion of the Company's presentation, Akoustis management will take questions. [Operator Instructions] A replay of the call will be available on the Investor Relations section of the Akoustis website.

I'll now turn the call over to Tom Sepenzis, Vice President of Corporate Development and Investor Relations. Please go ahead, sir.

Tom Sepenzis

Thank you, operator, and good morning to everyone on the call. Welcome to Akoustis Fourth Quarter Fiscal 2019 Business Update Conference Call. We are joined today by the Founder and CEO, Jeff Shealy; Interim CFO, Ken Boller; and VP of Business Development, Dave Aichele.

Before we begin, please note that today's presentation includes forward-looking statements about our business outlook. All statements other than statements of historical facts included during this conference call including statements regarding our strategies, operations, costs, plans and objectives, estimates of market size and guidance regarding expected revenue for the current fiscal quarter are forward-looking statements. Such forward-looking statements are predictions based on the Company's expectations as of today and are subject to numerous risks and uncertainties. The Company and our management team assume no obligations to update any forward-looking statements made on today's call. Our SEC filings mention important factors that could cause actual results he different materials. Please refer to our latest Form 10-K filed with the SEC to get a better understanding of those risks and uncertainty.

I would now like to turn the call over to Jeff Shealy, founder and CEO of Akoustis.

Jeffrey B. Shealy

Thank you, Tom. And welcome everyone to our fourth fiscal quarter and year-end business update call. The June quarter capped an exciting fiscal year for Akoustis, as we continue our transition from an R&D focused company to a commercial manufacturing company. With the recent design lock of our 5.6 gigahertz WiFi filter that we announced in July, we enter FY '20 with the world's first tandem 5 gigahertz WiFi BAW micro filter solution, paving a path into high-volume filter markets with the goal of delivering significant revenue growth over the next 12 months and beyond.

We also took a significant step towards penetrating the mobile handset market, as we received our first 5G development order and delivered samples to a multi-billion dollar Tier-1 wireless telecommunications company that is a global leader in the handset industry. The mobile handset market is our largest potential BAW filter market opportunity by both unit volume and revenue. Given the performance of this first 5G mobile filter, our Tier-1 customer responded earlier this quarter with a new order to develop two additional 5G filters in the ultra-high band spectrum. To be clear, all three filters target the performance and form factor for the 5G handset market.

With respect to the call today, I have organized my comments into five sections. First, technology overview and market focus; second, a brief recap of the strategic highlights during the first half of calendar