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Akoustis Technologies (AKTSQ)
OTHER OTC:AKTSQ
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Akoustis Technologies
(OTC:AKTSQ)
32Underperform
Akoustis Technologies (AKTSQ) vs. S&P 500 (SPY)
Market Cap
$30.92K
Dividend YieldN/A
Average Volume (3M)31.93M
Price to Earnings (P/E)―
Beta (1Y)2.29
Revenue Growth2.99%
EPS Growth-47.05%
CountryUS
Employees117
SectorTechnology
Sector Strength45
IndustryHardware & Equipment
Share Statistics
EPS (TTM)-1.39
Shares Outstanding154,590,910
10 Day Avg. Volume18,577,598
30 Day Avg. Volume31,934,422
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.20
Price to Cash Flow (P/CF)-0.10
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Akoustis Technologies Business Overview & Revenue Model
Company DescriptionAkoustis Technologies, Inc. is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. It operates through the Foundry Fabrication Services and RF Filters segments. The Foundry Fabrication Services segment consists of engineering review services and STC-MEMS foundry services. The RF Filters segment includes amplifier and filter product sales, and grant revenue. The company was founded by Jeffrey B. Shealy in 2014 and is headquartered in Huntersville, NC.
How the Company Makes MoneyAkoustis Technologies generates revenue primarily through the sale of its RF filter products, which are based on its proprietary BulkONE technology. The company sells these products to manufacturers of mobile devices, Wi-Fi equipment, and other wireless communication systems that require high-performance filters to improve signal quality and device performance. Akoustis may also engage in strategic partnerships and licensing agreements to expand its market reach and integrate its technology into broader applications. Additionally, the company may receive funding or investment from stakeholders interested in advancing its technological innovations and market presence.
Akoustis Technologies Financial Statement Overview
Summary
Despite revenue growth, Akoustis Technologies faces severe profitability challenges with a deeply negative net profit margin and a negative equity position. Liquidity concerns persist due to negative cash flows, indicating financial instability and a pressing need for operational improvements.Income Statement
Akoustis Technologies has shown a consistent increase in revenue over the years, with the TTM revenue reaching $29.41 million, a growth from $27.38 million in the previous annual period. However, the company is struggling with negative profitability metrics. The TTM gross profit margin is approximately 15.97%, a significant improvement from the negative gross profit in the previous period. Yet, the net profit margin remains deeply negative at -524.51% for the TTM, highlighting ongoing challenges in achieving profitability.20
Very Negative
Balance Sheet
The company's balance sheet presents significant challenges. The debt-to-equity ratio is negative due to negative stockholders' equity, indicating high leverage and potential financial distress. The equity ratio is also negative, reflecting the negative equity position. This situation suggests financial instability and a need for recapitalization or improved operational performance to strengthen the balance sheet.15
Very Negative
Cash Flow
The cash flow statement shows negative operating cash flow of $-39.44 million and negative free cash flow of $-41.22 million for the TTM, indicating liquidity challenges. The free cash flow growth rate is positive compared to the previous period due to reduced negative cash flow, but the company remains cash flow negative. The operating cash flow to net income ratio suggests that cash flow does not sufficiently cover the negative net income.18
Very Negative
| Breakdown | |||||
| TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 29.41M | 27.38M | 27.12M | 15.35M | 6.62M | 1.79M | Gross Profit |
| 4.70M | -689.00K | -3.12M | -4.14M | -4.03M | -624.00K | EBIT |
| -93.67M | -109.99M | -66.07M | -60.55M | -41.39M | -32.04M | EBITDA |
| -139.58M | -152.08M | -52.03M | -52.83M | -34.14M | -28.96M | Net Income Common Stockholders |
| -154.24M | -167.95M | -63.56M | -59.19M | -46.92M | -40.87M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 42.08M | 24.45M | 43.10M | 80.48M | 88.32M | 44.31M | Total Assets |
| 57.56M | 69.74M | 148.92M | 161.34M | 124.99M | 71.43M | Total Debt |
| 16.97M | 52.86M | 45.43M | 44.85M | 472.00K | 23.92M | Net Debt |
| -25.12M | 28.42M | 2.33M | -35.63M | -87.85M | -20.39M | Total Liabilities |
| 21.01M | 126.83M | 62.68M | 57.91M | 7.58M | 29.94M | Stockholders Equity |
| 36.55M | -57.09M | 86.24M | 103.43M | 117.41M | 41.49M |
| Cash Flow | Free Cash Flow | ||||
| -41.22M | -46.34M | -56.21M | -72.92M | -41.85M | -31.26M | Operating Cash Flow |
| -39.44M | -40.35M | -44.82M | -45.20M | -29.36M | -21.30M | Investing Cash Flow |
| -1.97M | -5.99M | -25.15M | -34.94M | -12.49M | -9.89M | Financing Cash Flow |
| 27.68M | 27.68M | 32.59M | 72.30M | 85.77M | 45.45M |
Akoustis Technologies Technical Analysis
Negative
0.01
Price Trends
0.06
Negative
0.07
Negative
0.20
Negative
Market Momentum
-0.02
Positive
27.10
Positive
21.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AKTSQ, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.06, and below the 200-day MA of 0.20, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 27.10 is Positive, neither overbought nor oversold. The STOCH value of 21.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AKTSQ.
Akoustis Technologies Risk Analysis
Akoustis Technologies disclosed 49 risk factors in its most recent earnings report. Akoustis Technologies reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Akoustis Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $10.59B | 10.09 | -6.37% | 3.05% | 7.44% | -10.67% | |
52 Neutral | $65.93M | ― | -209.93% | ― | -55.61% | -259.24% | |
46 Neutral | $44.66M | ― | -51.84% | ― | -61.52% | 35.64% | |
45 Neutral | $44.16M | ― | -27.85% | ― | 8.14% | 33.76% | |
42 Neutral | $33.48M | ― | 86.76% | ― | 11.25% | 34.57% | |
41 Neutral | $10.99M | ― | -112.88% | ― | -34.89% | -579.83% | |
32 Underperform | $30.92K | ― | -9999.00% | ― | 2.99% | -47.05% |
* Technology Sector Average
Performance Comparison
AKTSQ
Akoustis Technologies
0.01
-0.55
-98.21%
AIRG
Airgain
3.97
-1.52
-27.69%
CMBM
Cambium Networks
0.40
-2.90
-87.88%
KPLT
Katapult Holdings
7.50
-1.90
-20.21%
WKEY
WISeKey International Holding
3.85
1.84
91.54%
SURG
SurgePays
3.23
-0.13
-3.87%
Akoustis Technologies Earnings Call Summary
Earnings Call Date: Feb 11, 2025 | % Change Since: -80.00% | Next Earnings Date: May 12, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive developments such as revenue growth, design wins in Wi-Fi 7, and cost reductions, but was offset by challenges including the sunset of a major Wi-Fi 6E program, significant operating losses, and substantial litigation risks.Highlights
Revenue Growth
Revenue increased 7% sequentially to $7.5 million, with filter-related revenue up 13% quarter-over-quarter.
Design Wins in Wi-Fi 7
Secured 9 design wins in Wi-Fi 7 AP platforms, indicating a positive trend towards ramping major Wi-Fi 7 programs.
CHIPS Act and Defense Contracts
Received updates on the CHIPS Act membership and funding, with active research programs and potential tax credits estimated between $2.8 million and $4 million.
Expense Reduction
Cash burn was reduced by 31% sequentially, with ongoing efforts expected to reduce the burn rate by an additional 30% in the next quarter.
Lowlights
Wi-Fi 6E Program Sunset
A major Wi-Fi 6E program was abruptly sunset with a carrier customer, leading to a projected flat to 5% decline in revenue for the next quarter.
Goodwill Impairment and Operating Loss
Reported a GAAP operating loss of $22.6 million, including an $8.1 million goodwill impairment charge.
Litigation Risks
Ongoing litigation with Qorvo involves significant risks, including the potential for an 8-figure verdict against the company.
Company Guidance
During the Akoustis Technologies Q3 2024 earnings call, the company reported a sequential revenue increase of 7% to $7.5 million, with filter-related revenue up 13%. The top 10 customers accounted for 64% of revenue, with 48% of sales originating from Asia, 39% from North America, and 13% from Europe. The company guided Q4 revenue to be flat to down 5% due to a transition from Wi-Fi 6E to Wi-Fi 7. They achieved a 31% sequential reduction in cash burn, aiming for operational cash flow breakeven within nine months. Akoustis has nine design wins in Wi-Fi 7 and is optimistic about ramping up production in the latter half of 2024. Additionally, they expect a 25% refundable investment tax credit from the CHIPS Act and continued progress in defense and infrastructure markets. On a GAAP basis, the operating loss was $22.6 million, with a net loss per share of $0.26, while non-GAAP figures showed a $12.5 million operating loss and a net loss per share of $0.14.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.