Akoustis sees Q1 revenue down 15%, consensus $9.5M

In its Q4 earnings call yesterday, the company stated: “We are experiencing the same challenging end market environment that has been noted by many of our customers and industry peers over the past several weeks as high component inventory levels, weak consumer electronics demand, particularly in mobile handsets, and a slower return-to-office implementation have negatively impacted segments of the consumer electronics industry. This corresponds with a slower-than-expected rebound in the automotive, 5G mobile devices and network infrastructure, and Wi-Fi markets with focus — weakness in both consumer and service provider markets. As a result, we expect revenue for the September quarter to be down approximately 15%. Despite these macro challenges, we continue to receive new design wins and introduce new products that we expect will facilitate substantial revenue growth over the next 24 months.”