Akoustis Technologies, Inc. (NASDAQ:AKTS) Q4 2020 Earnings Conference Call - Final Transcript

Aug 24, 2020 • 08:00 am ET


Akoustis Technologies, Inc. (NASDAQ:AKTS) Q4 2020 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Akoustis Technologies Business Update Conference Call.

[Operator Instructions] A replay of the call will be available on the Investor Relations section of the Akoustis website.

I will now turn the floor over to Mr. Tom Sepenzis, Vice President of Investor Relations for Akoustis Technologies. Please go ahead, sir.

Tom Sepenzis

Thank you, operator and good morning to everyone on the call. Welcome to Akoustis' fourth quarter and full-year fiscal 2020 business update conference call. We are joined today by our founder and CEO, Jeff Shealy; Interim CFO, Ken Boller; and EVP 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, including the timing and prospect of product development and customer orders, our expectations regarding achieving design wins from current and future customers, the possibility of entering into collaborative or partnering relationships, potential impacts of the COVID-19 pandemic 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 to differ materially. Please refer to our latest Form 10-K and Form 10-Q filed with the SEC to get a better understanding of those risks and uncertainties.

In addition, our presentation today will also refer to certain non-GAAP financial measures. A reconciliation of these measures to the most directly comparable GAAP measure is presented in our earnings call highlight release, available in the Investors section of akoustis.com.

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 2020 fourth fiscal quarter and full-year business update call. Last week, we announced the introduction of our new 6.5 gigahertz WiFi 6E XBAW filter, which when paired with our existing 5.5 gigahertz filter, introduced in June, creates the industry's first and only tandem ultra-wideband BAW-based filter solution for WiFi 6E.

This morning, I am happy to begin our call by announcing that we have already received our first order for our new tandem BAW filter solution for WiFi 6E. These two XBAW filter solutions cover both unlicensed WiFi 6E bands between 5.1 and 7.1 gigahertz with superior coexistence performance compared to alternative filter technologies.

WiFi 6E is the next revolution in WiFi technology with two key bands, specifically 665 megahertz of spectrum centered around 5.5 gigahertz and 1.2 gigahertz of spectrum centered around 6.5 gigahertz. This new spectrum was allotted by the FCC in late April of this year. We have shipped early samples of our new 5.5 gigahertz filter to multiple SoC and OEMs and have already