Akoustis Technologies, Inc. (AKTS) is experiencing a surge in its share price on Tuesday, following the announcement of a significant purchase order. The company has secured a $13 million order from an existing customer for the production of Wi-Fi Access Points (APs). This order, combined with a previous $8 million purchase, brings the total production commitment to over $21 million.
This agreement not only signifies a substantial revenue boost for Akoustis but also highlights a strong relationship with a major customer in the Wi-Fi market. The arrangement allows the customer to purchase additional quantities of Akoustis’ XBAW RF filters depending on the demand for their Wi-Fi AP products.
Colin Hunt, Akoustis VP of Sales and Business Development, expressed enthusiasm about the deal: “This new purchase order cements the strong relationship Akoustis has with this Tier1 Wi-Fi AP customer, whose architecture is well-served by Akoustis’ advanced filter capabilities and XBAW products. We plan on delivering several million units over the next 3-4 quarters to this customer—all of which are produced in our New York fab. This demand will support our customer’s existing Wi-Fi 6E and their new ramping Wi-Fi 7 platforms.”
Akoustis shares are experiencing heavy trading volume, with over 59 million shares traded before the opening bell. The surge in trading activity reflects investor confidence in the company’s growth potential.
How to Invest in Akoustis Technologies
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AKTS Price Action
At the time of publication, Akoustis Technologies shares are up 9.25% at 9 cents. This positive price action reflects the market’s positive response to the news of the $13 million purchase order.
The increased demand for Akoustis’ products is a testament to the company’s technological advancements and its position as a key player in the rapidly growing Wi-Fi market.
