Tailwinds’ Take: Resonant continues to track to our model for customer and band signings, and ahead of our model on revenue. Believe this story is deeply undervalued due to misplaced concerns about a potential upcoming financing. We are adding to our position at these levels.
GOLETA, CA — (Marketwired) — 08/31/17 — Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency, or RF, front-ends that specializes in delivering designs for difficult bands and complex requirements, today announced it has signed a new development and licensing agreement with a new customer, who is a leading provider of RF Front End Components.
This new license agreement covers the licensing of five bands for use in modules, four using wafer level packaging (WLP) and one using chip scale packaging (CSP). The agreement will leverage Resonant’s ISN® Foundry Program, whose eco-system includes non-captive SAW foundries, as well as backend and packaging partners, enabling the first fabless SAW model that provides an alternative, stable, and secure supply chain for the emerging module markets in Asia. Design acceptance criteria and royalty terms have been agreed upon, but will not be disclosed due to the confidential nature of such agreements.
“Our eighth customer is an established and leading provider of power amplifiers with an extensive customer base in the Asian markets,” said George Holmes, CEO of Resonant Inc. “For this new client, we plan to work with a new ISN foundry partner to extend the fabless filter model eco-system. We appreciate our customer’s confidence in our ability to design complex and competitive RF front-end filters, and look forward to helping them increase their revenue and drive growth.”
About Resonant Inc.
Resonant is creating software tools and IP & licensable blocks that enable the development of innovative filter designs for the RF front-end, or RFFE, for the mobile device industry. The RFFE is the circuitry in a mobile device responsible for the radio frequency signal processing and is located between the device’s antenna and its digital baseband. Filters are a critical component of the RFFE that selects the desired radio frequency signals and rejects unwanted signals and noise. For more information, please visit www.resonant.com.
About Resonant’s ISN® Technology
Resonant can create designs for difficult bands and complex requirements that we believe have the potential to be manufactured for half the cost and developed in half the time of traditional approaches. The Company’s large suite of proprietary mathematical methods, software design tools and network synthesis techniques enable it to explore a much bigger set of possible solutions and quickly derive the better solutions. These improved filters still use existing manufacturing methods (i.e. SAW) and can perform as well as those using higher cost methods (i.e. BAW). While most of the industry designs surface acoustic wave filters using a coupling-of-modes model, Resonant uses circuit models and physical models. Circuit models are computationally much faster, and physical models are highly accurate models based entirely on fundamental material properties and dimensions. Resonant’s method delivers excellent predictability, enabling achievement of the desired product performance in roughly half as many turns through the fab. In addition, because Resonant’s models are fundamental, integration with its foundry and fab customers is eased because its models speak the “fab language” of basic material properties and dimensions.
Safe Harbor/ Forward-Looking Statements
This press release contains forward-looking statements, which include the following subjects, among others: the capabilities of our software tools and filter designs; and the potential impact of our designs on the filter supply chain model. Forward-looking statements are made as of the date of this document and are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: our limited operating history; our ability to complete designs that meet customer specifications; the ability of our customers (or their manufacturers) to fabricate our designs in commercial quantities; the ability of our designs to significantly lower costs compared to other designs and solutions; the risk that the intense competition and rapid technological change in our industry renders our designs less useful or obsolete; our ability to find, recruit and retain the highly skilled personnel required for our design process in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Annual Report (Form 10-K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
Investor Relations Contact:
MZ North America
Source: Resonant Inc.
Released August 31, 2017