Over 7.5 Million Mobile Filters Shipped Incorporating Resonant Designs in 2017

Tailwinds’ Take: the revenue generated by these sales is probably only a couple hundred thousand in Q4 at best, so don’t get too excited about that. However, as George said, it’s the validation and new opportunity creation that will win them much larger business starting in 2018. 

GOLETA, CA–(January 03, 2018) – 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 that more than 7.5 million mobile filters incorporating Resonant designs were shipped by its customers in 2017.

The 7.5 million mobile filters incorporating four different Resonant designs were shipped from two Resonant licensees in 2017, with over 80% being shipped in the fourth quarter. Shipments included duplexers integrated into modules, as well as discrete filters targeting the Chinese market. As previously noted, these shipments were from devices that were contracted in the second quarter of 2016 and will generate only nominal royalty revenues.

“These early shipments validate Resonant’s ISN platform and our ability to credibly deliver as predicted, creating new opportunities for our customers to compete in this very fast-moving mobile marketplace where time-to-market is paramount to be competitive,” said George Holmes, CEO of Resonant, Inc. “Not only are we demonstrating that we can deliver complex designs that are faster, better and cheaper, but we are helping our customers win slots at their OEM customers by assisting them with passing qualification and reliability testing on the actual phone board and ramping Resonant-designed filters into production. It is through these successes that we expect our customers to achieve greater market share, which ultimately drives new design engagements that we believe will lead to higher royalty revenues for Resonant and increased value for our shareholders.”

Resonant has published on its website the following videos that explain Resonant’s technologies and market positioning:

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 ones. 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 impact of our filter designs and technology on our customers’ ability to compete and achieve greater market share. 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; our customers’ ability to sell Resonant’s designs; 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:
Greg Falesnik
MZ North America
1-949-385-6449
Greg.Falesnik@mzgroup.us

Disclaimers & Disclosures: For a full list of disclaimers and disclosures, please visit: www.tailwindsresearch.com/disclaimer/

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