Akoustis Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024
May 13, 2024 at 04:46 pm IST
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Akoustis Technologies, Inc. reported earnings results for the third quarter and nine months ended March 31, 2024. For the third quarter, the company reported sales was USD 7.51 million compared to USD 7.36 million a year ago. Net loss was USD 23.31 million compared to USD 15.55 million a year ago. Basic loss per share from continuing operations was USD 0.26 compared to USD 0.23 a year ago. Diluted loss per share from continuing operations was USD 0.26 compared to USD 0.23 a year ago.
For the nine months, sales was USD 21.53 million compared to USD 18.79 million a year ago. Net loss was USD 59.15 million compared to USD 45.79 million a year ago. Basic loss per share from continuing operations was USD 0.75 compared to USD 0.75 a year ago. Diluted loss per share from continuing operations was USD 0.75 compared to USD 0.75 a year ago.
Akoustis Technologies, Inc. is a commercial product company. The Company operates through two segments: Fabrication Services and RF Filters. Its Fabrication Services segment consists of engineering review services and backend packaging services. Its RF Filters segment consists of amplifier and filter product sales. The Company develops RF filters for fifth generation (5G), wireless fidelity (WiFi) and defense bands through its resonator device models and product design kits (PDKs). It is focused on developing, designing, and manufacturing RF filter solutions for the wireless industry for products, including smartphones and tablets, network infrastructure equipment, WiFi Customer Premise Equipment (CPE), automotive, industrial and defense applications. The Company has developed a microelectromechanical system (MEMS) based bulk acoustic wave (BAW) technology. It is also engaged in providing back-end semiconductor supply chain services.