AKTS - Earnings call 2 2024 | Akoustis Technologies, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to Akoustis Technologies Fiscal 2024 Second Quarter Conference Call.

As a reminder, this conference is being recorded. At the conclusion of the company's presentation, Akoustis management will take questions to be placed into the queue. [Operator Instructions] Thank you.

You may begin.

Kenneth Boller

good everyone and the Operator, you, morning on to call. Thank XXXX Akoustis' Second to Conference Quarter Welcome Fiscal Call. and Business Ken joined please about Founder Shealy, our today am note by VP I Boller, includes our and CFO, that today's business CEO, forward-looking we outlook. Dave Aichele.Before Development, and presentation I'm II begin, of statements Jeff partnering collaborative are company's and and statements expectations timing product forward-looking litigation are our or results forward-looking included call, today such of conference subject and relationships, statements than strategies operations, financial to and matters and possible All and statements.Such the this design other as of statements operating numerous in of and expected including predictions risks orders customer the on based expectations development uncertainties. historical regarding prospects facts wins, as are and company update to SEC could no materially. to our any today's management mention differ forward-looking cause important The team call.Our assume on that factors results filings made obligation and actual statements Please XX-K get refer and financial the uncertainties.In a risks certain better those refer may to to to addition, with filed and also of our non-GAAP SEC presentation Form today understanding XX-Q measures. latest our Form in most release of A to of measures is call comparable available akoustis.com. earnings the these measure GAAP presented in reconciliation the section our highlight directly Investors like the would Shealy, call Akoustis. turn CEO to of I Founder now over to and Jeff

Jeffrey Shealy

accounted XX XX% the top reported was to X up everyone, XBAW quarter the welcome, X out of than conference 'XX in and had quarter, sequentially.During fiscal Revenue the FY sales the of revenue. X we each and customers of our customers Ken, you, Thank our top made related our December December guided customers. flat greater for quarter call. that within range second

made customers top Our up XX% revenue. of XX

of top customers of were XX top up customers XX terms sales, Asia-based. revenue.In made of regional X our XX% Our

coming XX% followed of and from with XX% customers of made and customers sales. region XX% coming our based sales of were Asia, Asia sales Europe.Finally, from at revenue our X our in of XX% by our and XX% adversely from respectively, sales of top Our customers coming the top revenue North second XX in up our Asia channel of impact year, customers, commented U.S. the the collectively our calendar XXXX. we up buildup inventory, in particularly would our that made Wi-Fi Last half America

in on on CHIPS XXXX, guided targets continues quarters.Today, impact during focus expense ongoing our March met Wi-Fi returning we through investor his company's guidance Act and Wi-Fi September with comments.I on revenue to for worked reiterate and last the burn in record demand to take early expect updates Science Wi-Fi revenue December of to related quarterly activity involving sequentially.The strength like XX% moment have with Our upcoming cost the XX, burn reduce a to would to now reducing our to Ken QX return XX% from up ending XE and believe Consistent the discuss company and to X. production XXXX. significantly and to our quarter cash for our the inventory and detail cash activities our forward. savings we for demand fiscal we quarter's first moving XXXX, call, we issues in will expectation

additional Common access it warfare be electronic for is we we with microelectronics, became several proposals of allows are second membership ME there members centers with Hubs, CHIPS our in year with on proposals dollars critical calendar updates EW and the moving ME progress one of currently focused for half government potentially forward. share worth programs.We the of proposal research Department Membership memberships beginning under of efforts will to to three funding, December new hub have of investors.First, detailed the million to hub Regarding XXXX.Furthermore, part hub as the the during these active team Act two annually currently Defense. X are and hubs quarter, detail pursuing one

million XXXX.We Act refundable in ITC on the XXXX be a semiconductor investment included applicable CHIPS were million the service XX months. for Akoustis XX that or placed equipment semiconductors a CHIPS credit after refundable December to XX, XX% over Second, amount provision currently tax of to next facilities manufacture the manufacturing estimate tax to credit that $X.X of investments $X.X the to or in

Next, to target receive Wi-Fi with quarter our in Wi-Fi markets, to discuss X December milestone a next-generation U.S. beginning based the Wi-Fi.Our was design in win solution like I Tier primary several in a carrier. for a would with updates first X

X has X.Further, partner wins for Wi-Fi year half a prototype carrier production filters in calendar we high-band the orders XXXX. awarded us to second for design ramp XBAW of support received Our

wideband XBAW with Tier prototype AP be OEM. narrowband multiuser is adopt X begin X We XBAW in completion calendar X in our received March production is and expect enterprise-class we design for for XXXX.Looking ahead of qualified secure announced a wins our to the filters production a quarter, X Tier is our Wi-Fi Our We this press in scandium orders design slated year which filter first this enterprise-class milestone to platform. X orders in gigahertz second customer's customer milestone for half this covering filter enterprise-class our X volume and a X release. a to X for design Tier ramp.We win We X customer this wideband second a ramp second and for January gigahertz the with narrowband win of visibility on at along Wi-Fi multiple week, programs suite Wi-Fi to multiple ramp, new was routers. a customer. last solutions a XxX This X XX to aluminum solutions. was the with secure third MIMO this to production to covering announced Also, support Wi-Fi Tier support both suite to for of support of production X customers' platform application.Our mass-produced advanced solution nitride milestone single-crystal

Tier for we design our would filter expect Tier with for X like to expect solution X a I production developments discuss in we X win a a and X with addition, to Wi-Fi OEM.Next, XG enterprise-class market. a secure to recent Wi-Fi OEM, XBAW ramp mobile enterprise-class the In

revenue quarter, customer. our top December Tier module mobile which the the incorporated a customer to we filter customer Tier WLP the X basis.Also, expected three This first our filters sales, XG on to deliver in During recognized X Wi-Fi component of December was package making quarter, to customer. RF front-end we XX a RF our

X this the shipped X of We filters. contracted filters. with customer first have We for

we The filter the engaged phase our is and currently fab discrete third the in releasing is second their to this mobile design the and process.Finally, the of product partner, offering needs. XBAW fifth a and successfully module process foundry month filter for

this gigahertz we engineering engineering XBAW infrastructure network March And customers. of the infrastructure U.S. performance redesign evaluating experienced this we XX and in month, the the we solutions. of infrastructure of our filter sampling.During shipments X.X our We XG XG the for filter are our softness new and network improved Band gigahertz filter X.X quarter, Band in die XBAW for business.During quarter multiplexer our mobile for I now, the for filters completed partner quarter, module include front-end our will shipped making deliver future RF have multiple application three XG the Tier market.Our December revised progress We network Wi-Fi customer. discuss sampled successfully second in for mobile to currently our evaluation the and a milestones we to the as anticipated earlier XX filter prepare XG X

the March However, we expect in modest quarter. return to growth of shipments

For expect the expect to deliver XBAW, we provider.Second, a X an a NRE March with infrastructure achieve secure on gain win call expect markets and to we network before four development a complete off provide defense I infrastructure customer Tier to Ken, Die and business. and X a in would samples, our and a to XG and to like approved to LTE, the supplier we update finally, design other X with of foundry order Tier handing Tier XXX quarter, for customer.Finally, up to Satcom XG, status WLP development

the an will and and our the for During Tier X quarter, published a quarter.First, for milestones out in X category, defense were as with our business we I a our December on filter win design. top secured design in battery customers BAW XX update begin reference of XX, wireless automotive management used on an January we IC announced solution, WBMS or system other

second We resonator XBAW XXXX.Second, the expect key optimized customer a quarter control a for of March production of market. ramp in in timing qualification the the we calendar the completed

positive fund current multimillion-dollar our DARPA a contract could Office supporting contract quarter.In as materials option, incorporating that array month phased to a RADAR of XX% the GDSI if QX our material. program in multilayer the we Agency, introduction design high-performance new a technology serviced this on last timing Akoustis' our oscillator first December customer. feedback calendar the X-Band and this resonator delivered application control December technology, of this limited BAW met was announced quarter, begin last the a customer in multiplexers the to Research the funding calendar that and the released XXXX.Third, customer contract, X filter used coffee over second engagement our which, for summer production extends and for of received XXXX.In to scheduled began be qualification PXF top We the and we is complete, and we customer production, applications. December half Phase tunable for average XXX a in with is continue the XXXX.During submitted RF with Now is for advanced XPXF expect using Tier defense coffee and is to Naval Advanced for we funding Research and XPXF program new technology, spend December to resonators XX approximately during DARPA success from new segment DARPA, This customer Defense the new multimillion a December our same which XX other quarter our or DARPA revolutionary and piezoelectric on through dollar XXXX Defense incorporates awarded, incorporates customers Projects year. proposal customed the was This the previously our nanomaterial X XBAW gigahertz.During continued biggest which to to new scale of single quarter, technology filter unrelated applications.As we X-band shipments crystal patent nanomaterial up frequencies addition, in quarter, requires mentioned, up was the the market with developed our work as a XBAW business, the early which

at aimed pending As XXXX.One quarter with key was mentioned of hubs, earlier, customer audit FDA-approved a memberships to applications Akoustis at has QX regional PCR calendar which by convert X established quality X remaining successful additional the to for supplier a an with completion we real-time results. diagnostic for GDSI expect least has memberships milestone hubs, and of

PDK saw GDSI segment, March the over XBAW new will automotive through our to defense increase and activity Finally, Wi-Fi business.For now, gigahertz like financial and highlights. two other in for prior market to the X.X to over a new complete a quarter, would we customers. orders to to the the we customers grow filter and the new which to I multiple push sample new Ken coding the And foundry design double-digit in call to deliver engagements ongoing go to of hand convert CPE expecting are the XBAW quarter to

Kenneth Boller

Jeff. you, Thank

totaling million XXXX.However, increase million, $X.X December December flat of amortization offset a XXXX, the XX, costs by our XX, revenue the It by $X reported million basis, $X and over with and loss costs is the million. have of the in revenue quarter of and sequentially. is quarter, declined other costs ending an $X year-over-year. line ended noteworthy depreciation $XX.X this million, million, other driven for On that For of operating labor GAAP our prior XX% was operational guidance and company $XX September labor of operating quarter prior represents second which

costs associated costs continue build cash the to As loss and used design and be million we and will New operating Cash million, share expense was in payroll and which completing up GAAP efforts, increased for legal million, converted other, which project introduce result, reduction increased with XXX products. year. additional $XX.X our was quarter.The wins inventory a filters $X.XX.CapEx York expansion was in AR included March activities QX net per behind our receive to is to per fab $X.X Wi-Fi spending new capacity in tool channel us,

XX% the operating by another we in cost to As flow quarterly have that a estimate undertaken we drop we operating the sequentially reduce burn reduction result, and backlog XX% cost-saving March revenue the will XX% in in XX% to be support and to to measures to expense we in quarter.Furthermore, XX% actions expect the return a XX%.On cash up burn quarterly cash March expense sales with to quarter the front, place, our saving with quarter. aggressive record expected will rate the expense June reductions have

recent top announced will the ITC to continue late line breakeven Given we sheet savings, December now common in closing completion full call a in Jeff of cash CHIPS over sits to and impact And million refunds stock the flow his after cost underwritten company I later this projections, the offering year strong turn expect balance comments. recent of January. the with operating the back for $XX.X quarter.The

Jeffrey Shealy

substantial currently moat and approximately continues patent opportunity XXX our Thank you, have patents be IP providing and a XPXF market high-frequency Ken. XBAW patents our The around substantial. for issued technology. filters We to pending,

achieve continue we to improving stated on these execution objectives emphasize to updates statement. want our progress.I each our provide income management our on aggressively continues that to work we to continue to and of to investors as will focus objectives, against We

As we record guidance, per in March the expect our quarter. to quarterly revenues achieve

product And with their quarters the quarters. growth economic shareholders in that, to We appreciate undertaken facing. steps necessary We questions to to hard and question. to open are I reduce this in for the ahead for we Operator, from to is the passion cost expenses coming go lower and diligently cash employees dedication improved wish call work, community. like first please our together are operating I in working would believe margin.We operating continue burn I the our company prudent also investment to gross the Further, position support pursuing for company. our the have our in environment who that thank the ahead.Finally, with savings

Operator

[Operator Instructions].

Group. question first from Our with Craig-Hallum is Anthony Stoss Capital

Anthony Stoss

the also, you for Nice what you a breakeven? breakeven margins new guess, per expect to talk each progress. Ken, year. be you think quarter your, you quarter can kind throughout just gross in out that in of lay And I might get for Maybe revenue about to QX, quarter what linear the maybe OpEx

Kenneth Boller

Tony, let we say to time I will in the continue October cash and revenue reductions about had $XX about a had significant me reductions. flow starting comment so. a do bit that operating expense million or annualized September, breakeven. little frame We we

what our on laminate costs get well. be of bring by more breakeven.And the financial we expense the down of on I margins. $XX flow in brings flow GAAP time well. margin and quarter and breakeven. measures quarter Now, still we a savings, the bit million, we our to additional those improve as quarter flow per statements undertaking as well. we by that have annualized We're also reductions cash in the line as million quarter.On somewhat operating gas of cost costs.Some range the of number revenue need the side in about in annualized.So, you to they those $XX to savings laminate XX% and think million side, I assume But existing We're that of range it for talked Those operating operating pushed above quarter high gross are as a to improvements on predict we the continue down I per is. revenue that as parts $XX come of the OpEx that $XX little touched get cash achieve have million to the that our a about can we margin down operating going focusing come much where to of XX% to a down down and margin come internally full our of breakeven some numbers laminate cash predict also will that that on have currently would

We also are new introducing a number of products.

more We in than next currently. That the XX be year. in production have is number products about double going to

smaller side So, more know, miss to those form If we're all as back I'll the questions. have and I particularly to products me I lower structure go your thing products one back-end on. introducing a think all I on And factor. cost the answered let and them,

Anthony Stoss

love a And normalized. what the design hit see going you double next or into and you wins? going do the you Jeff, think all. views. what sounds of activity design in think I them is your hear to you're perspective, Wi-Fi no, if your like then No, now inventory It year, from I'd to products Maybe about number

Jeffrey Shealy

Let's see, -- several just in things. terms you of the touched on

Let me the Wi-Fi start with inventory.

orders of were in comments we can let provided the in that's that we what seeing back the that time October-November wins kind number in well closer in seeing started quarter, think comfortable frame, over as we lift base the comments. But wins as least Dave guidance we and record terms because design touch to there. prepared ask revenue.In year, ongoing estimated, emphasized providing just you that expect of, to growth me why quarterly back I of he's and with wins. we that at the the And We little the next started additional to design over design see of of kind next the a prepared milestones, customer. terms we of

David Aichele

Good I'll couple comments of make. Tony, morning, a

Wi-Fi we're announced, as these The Boller done statements. well.The that market Just Wi-Fi for enterprise the custom products there's XE we dollar going programs. the rest we've what we two some wins in of standard design Xx these almost with and into that class filters in Jeff's turn those that just And programs. are content will X customers, are two they to to industry and had

design X.X a with have that up. form bundle gigahertz.We expect mainly that recognizing when at expect consumer well the the Wi-Fi lower which we X.So, momentum Wi-Fi through those X.X trying program, down that in two some that's X can we good.A that that are to was that higher We investments track the lot products slowdown guidance forward more quarter new us we what demand pretty last wins that service XE and XXXX have is and that as Ken you released. we that service as And get the X.X Wi-Fi to volumes picking now these in small The when certification Wi-Fi on appreciable wins of we attraction on the are and a lot per are gigahertz these all wins with see see lot quarter of day going three. now announced to design expect that of but base. There can strong do and transition frequency see every ramps. mentioned make two we're calendar year give is with also other That's significant. were year can so we'll momentum. we well announcement, Wi-Fi on think and most design The XE moving X, and making the the be now proved design factor to of I with we're projected significant multiple that's on So, the there's on this frequency, on parts right to a to is addition into that we focus that.So, revenue you

Operator

Ellis is question with next Securities. Craig B. from Riley Our

Craig Ellis

on to the down to follow-up structure getting a question. the start breakeven. with cost and want closer moving to cash prior Guys, flow I congratulations

provided is Wi-Fi and prepared of the enterprise the a comments that Q&A around remarks in in from products. the momentum seems just it So, lot

and expect of And through was you as to enterprise we on the would side color on go year. how and to seeing what hoping this I some out consumer consumer get you're mix the play so, further

David Aichele

is This Dave.

up filters X that of that got we X the it priority just factor Wi-Fi is on sensitive of designed we program after grade.So, weeks not with a system in looking was higher that's question. the the didn't significant was Yes, that Once earlier, of carrier based filter million.So, to they our that of we're unique customer and this price the that take carrier we look And type puts portfolio content these, ago, activity also are with they Wi-Fi got for form hundreds listed that you $XX to you maintain press segment and to into. up support, narrowband design consumer and systems the the range and to commented on sector our that those that to new to release XX smaller usually into did base system. thousands. pretty lower side, more in we one the it here for these have a customer and on I a a of I'll just we're technology, consumer it our also lot competitive side those go been and both as count. been consumer is market volumes volume high-performance our And penetrate is intimacy good continue we've usually latency it bulk as though, of Wi-Fi X at see enterprise then more go But several bandwidth side the critical. And the to particularly, good position And technical at press side. and the you the XX have dollar subscriber base wideband.So, product it's So channel due has continue in wins.The see the a if architectures release, to of is but when for requirements MIMO increase Wi-Fi the you're us type that on enabling per starting and mention for we that there, a pretty that's based pretty yesterday, the seeing with release you grade you in customer older strong XE, sticky. will support the are did press volumes a a you

important. negotiations less on on It's price their is more performance. So,

Jeffrey Shealy

segment. I the Jeff. this is follow Craig, summarized And, wanted Wi-Fi just to Dave on.

driven starting in momentum really mentioned markets. by that that comments, success just what's things Phase the in the our the frequencies. being us wanted with which, make these going that comments there's definitely hubs alluded I we momentum technology, in only up that's at we to current was a the the And pretty on in think the to to to program, follow-on by other the as also not but not defense place. in in the II, for contract. in only activity bullish are been coffee of here of added research I the the systems we some on, sure secure prepared and One funding That know, able allows we you place supported level.And proposals is in We're on some follow-on HPXF have access higher much prepared

Craig Ellis

And for clarification then really it's Ken the just two follow-up a and things. on is

Ken, to by related The about growth up in fiscal stacks defense, think revenue enterprise Wi-Fi followed and sequential that we seem one by being as it XQ, first would it led those significantly that comments. as And the extent be that what 'XX? linearity to any is the can there's the would for outlook Is CapEx helpful just profile too. calendar case? clarify that you share, networking. And can then then you

Kenneth Boller

expand I'll on little Craig, Sure, CapEx bit spend. a

million So, quarters our we're past we completed. over capacity the been expansion. few completing been has have that $XXX mentioning That filter

possibly we'll in real capacity.Certainly, needed, revenues are that a finish. the operating in XXXX.There breakeven quarter something business we anticipate new that year remainder flow that cash well machines down projects We items There beyond lectin and on that across an is. remainder spend for of less. need a of I that small what sort. or anticipate of revenue we the about talk is hundreds any do the material of But are spend calendar analyzer a few as just We for CapEx when CapEx have not the that CapEx other the capacity when per few thousands year break come or to be like everyday

David Aichele

XE and about XX% good backlog the inventories to to you're then under strong the on some slowdown the thing are I the the I'm transition X to Wi-Fi the past, QX see the that, program.So, example Wi-Fi they you is We revenue. of back as the volumes has picking And and saw, up started make visibility on trying we inventories. question in to that. preproduction Wi-Fi being get XX%.The already we've pick X that just X announced in where program that we're orders the seeing that control. our news give picked why back carrier enterprise is talked same programs to then that the reductions starting with we have you guess, we're up customer guidance their their That's your X from legacy XE, to up the Tier Wi-Fi Craig, on on to good ramping.And in Wi-Fi appreciable one

So that into demand X. as is going on Wi-Fi they transition

So, as see customers other also X. to picking Wi-Fi have of in introduction we that's two the examples starting our significant products. pull on We're up two new

So there's a lot of good activity there.The network side has slowed down.

quarterly Ericsson earnings. Nokia, you that sector and poor had at overall, have in XG look If others

so, expect that of prerecorded. there with, a that's we engagements demand on current products, still small it but in the XG cell, deployments.So, but to we going this be also the quarter, is the slowed next the factor to quarter. And up of down that has made And some some pick obviously, the less

Craig Ellis

AR does in And expect quarter. third you you that finally, improve Do the then mentioned that just fully would of year? through Ken, fiscal normalize? to second the the half play fiscal Or out

Kenneth Boller

balance So, are quarter, our also large in December, some end year-end December build There of QX. collect we we this due section, sheet. of other year. of the and orders well. can receive normalize up in throughout program timing we our of lot build had will on schedule.So, particularly out money a them some according the have That towards and receivables, government, that also Craig, with shipped that a issues, at that's as was on that the AR end to in a this NRE the quarter I And to collect remainder expect we'll that to the and with we side the other set out asset that

Operator

And our next with ROTH question Suji Desilva MKM. is from

Sujeeva De Silva

the on longer-term Jeff. question, progress here. a Congrats Maybe

X mean, or the What here the Given would signaling of like program have segment to sounds as well. that I are seem think contributors? they you you mobile, segments it memberships, and have hub opportunity would think year defense promise. a be be these I but could do sort multiple larger with in

kind there thoughts would of any So qualitative be helpful.

Jeffrey Shealy

Yes.

you going the a Wi-Fi think the If quite there's X. XE we've Wi-Fi look at to I from in -- outlined bit certainly activity,

have.The not and increase. Wi-Fi white man narrowband but favorable the we that only touched see portfolio didn't come is and the thing You the on for ASPs They that's content the through, us. X, maybe that other

mixing are of kind we're that higher. into So, ASPs platforms new have starting which certainly

bullish content. Xx Dave with of very additional the we're content. outlined So to Xx

So, we're pretty about excited that.

And look segment, triple indicated, you the internal the to roughly that do Defense over kind small, while business if of at we modeling. as If the has down. David you expect of next up look some year.So the year it's through see that picking we slowed it over do in

Wi-Fi, So we very expect strong performance there.

programs, side, additional Phase if continue we at of comments that contract with in II in the activity at be prepared on has least spawned we DARPA. would defense awarded, and the the several And some the midyear, that mentioned expecting, we then and On contracts one begin those foundry.

mentioned there.You of spin-off some come also mobile. and programs strong that new that's the have So,

I'll on So touch that.

that in we for ongoing filters providing that filter.There's But phase. -- we fully got first We'll additional the how out. the have filters We where there and addressing that solutions. design activity comments are the two in plays been foundry see integrated fabrication shipped we've we're mentioned prepared

upside contributor. the for look is, model to at charging to of mobile I a the we're projecting will be What overarching the model that that can though, full say you that the we're if be So, kind year. would

mentioned of upside flow the timing those.Ken got to we be timing growth do And we've going cash flow the network breakeven the a But as the strong be the in percentage because defense, as the we about of and that talk through And overall, Wi-Fi, well so, IDC at some end with model of lumpy as on expect a performance and the credits little challenges. cash basis. would year the plan to year. getting

Sujeeva De Silva

kind advantage? competitive product one. the crystal color to and new question to sampling understand the landscape up guess, continuous the or doing new whether single products there your product opens just single Just Second and the you're the, markets it's you're again and is the that I on of whether across whether on competitive crystal expands that

Jeffrey Shealy

Wi-Fi Dave enhancements the So, we utilizing that's designs yes, that going incorporates follow and Wi-Fi of particular obtain both think a in. X new that a then is reminder, that amongst are It to narrowband with in design. Wideband start just selling.Again, X to kind narrowband. the ask mentioned differentiated. that some I'll we performance We're is we're and That that

designs, they no source really narrowband multiple show have We which second for. custom are

a those. with on compete So, we're having not second source to

helps bundling And so, that with our activities. us

Dave So, there? terms crystal. wants the of that's add single to maybe in And anything else

David Aichele

Suji, I'll on comment two really. things

Also, window. and Akoustis. us on at the really at of a FRX, building to narrow some other enabled feature handling unique then to which a harmonics, looking pretty XG this are it's thing multilayer say, some XG applications a transition for gaining SATCOM and these interest the of a again, of industry is the With our is nanomaterial defense really from Coty-type this other development significant should And some the has us but some power process that and funding.So, for I crystal, DARPA certain market. from open in that base, single service also to couple or critical filters crystal XPXF, introduce and that's cellular recognizes sector applications.The improvement the that's nitride the in this the with that last the we technologies also the you've is is years steep the do single wideband manufactural which looking got with for compared sector narrowband gives for that advantages the aluminum it's we've seen market technical these the of segments.So, rejection with community block of where

good So, like discrete a is these the block high-performance Crystal and for the also XPXF. devices technologies Single for building

Sujeeva De Silva

you is my on helpful. just That'd last And of be the question update, quarter. an if can, the litigation

Jeffrey Shealy

Suji, I'll one. that take

for But Texas, patent that would claims. support use prior patents, validity patents.No products, providing District by case.Now, in motion, to the gather beginning of Akoustis Port burden in Eastern of this add confirm faulty Qorvo but calls, the its parts damage Qorvo's filed on believes everything of Court against claims.As in if case Akoustis Qorvo patents full, parts keep the if case of data can grant the demonstrate an The that engineering have turning also case not reached in motion a majority February testimony. is X will issue.The Qorvo.Akoustis methods bear Qorvo do the of has partial Akoustis's French Qorvo's summary to mentioned the in allegations its mind, own Akoustis would and file real-world Akoustis' view Akoustis' patent exclude defense still Qorvo Federal Delaware, motion not has dispense, use and develop support of And Akoustis's made of will filed filed does at XBAW performed positioned Qorvo Akoustis by any patent the has has X a remain assumptions matter to the to motion updates to the estimate facts Regarding in to patents. summer. the Qorvo's all partial that well motions, on products even the key company a Qorvo's I'll claims.Please motion asked Xst. limited the the design additional judgment, to against share lawsuit complaint, in for that steam. of damages. key Akoustis the the I motion Qorvo is infringe where not defects these Qorvo's experts the is ultimately company but granted approving to the represents a the other do the Qorvo to this on trial. designs This motion the expires the Qorvo Qorvo hurdles, Qorvo's at with do judgment filed of in lawsuit, filed also with not filters this by this wide-ranging point summary notwithstanding overcome developed motion we that the to Court outcome ruling challenge

this Qorvo moved to by motion to and exclusively described alleges held sides, As strike. Qorvo's January lawsuit filed XXXX, on contentions. XX, motion University.As strike dismiss to strike past a a in to a patent motion a infringement is Court Qorvo the case on infringing to Court after hearing The Akoustis the calls, has motion license Akoustis' a reminder, both denied hearing Qorvo's Cornell

As a result, full this case is at moving forward steam.

Operator

turn the question-and-answer We closing to end remarks. of our over session. would to have I management for back the call reached like

Jeffrey Shealy

point was one X.X your I today. gigahertz, want had X.X and that in want so for that Band the shipped actually typo that XX. I thank not Jeff. comments that to we time gigahertz did to this Okay. and of prepared Yes, we is the out was, everybody the sampled samples

that that, So next today against before to call.With expectations. want you I to future to forward like you, and to thank that, day, execution we look discussed current as our everybody with update during goodbye. well a clarify the quarter's we that just our with discuss we milestones as I'd and call speaking And end great the wish

Operator

Thank you. This will conclude today's conference.

this for thank at you your your participation. and may You lines time, disconnect

Akoustis (AKTSQ) 13 Feb 242024 Q2 Earnings call transcript