Akoustis Technologies Receives Additional $13 Million Purchase Order

Expanding Collaboration with Leading Wi-Fi Access Point Customer

Ottawa, Ontario, Canada – March 13, 2024 – Akoustis Technologies, Inc. (NASDAQ: AKTS), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band filters for mobile and Wi-Fi applications, today announced that the Company has received an additional $13 million purchase order from a leading Wi-Fi access point customer.

Continued Success in Wi-Fi Market

This additional purchase order builds on a previously announced $8 million order for Wi-Fi 6E and 7 access point filters, bringing the total order value to $21 million. It demonstrates the strong and growing relationship between Akoustis and its customer, as well as the Company's continued success in the Wi-Fi market.

Integrated Device Manufacturer

Akoustis is an IDM with a vertically integrated manufacturing facility in Canandaigua, New York. The Company's proprietary BAW technology and materials science expertise enable it to design, manufacture, and package high-performance filters for the mobile and Wi-Fi markets.

Broadening Application Reach

In addition to Wi-Fi applications, Akoustis's BAW filters are also being designed into a wide range of other applications, including 5G mobile handsets, satellite communications, defense systems, and automotive electronics.

Financial Outlook

Akoustis's strong backlog and growing bookings position the Company well for continued financial growth in 2024 and beyond. The Company expects to provide a more detailed financial outlook during its next earnings call.

"We are excited to receive this additional purchase order from our valued customer," said Jeff Shealy, President and CEO of Akoustis. "This order demonstrates the growing demand for our high-performance BAW filters in the Wi-Fi market and our strong position as a leading supplier of these critical components."