Tailwinds’ Take: this represents a massive acceleration of their business. Per my model, they were expected to get 17 total for 2017. The fact that existing customers are signing new sockets demonstrates the compelling nature of their offering. Very bullish news.
GOLETA, CA–(January 04, 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 the fourth quarter of 2017 was a record quarter for signing contracts for new designs.
Agreements signed during the quarter with existing customers resulted in 16 new designs under contract, the highest tally ever recorded for Resonant during a quarter. The contracts included wafer level packaging (WLP) module designs, discrete chip scale packaging (CSP) design for the Chinese market, Wi-Fi co-existence designs, and a design for new spectrum, which was recently auctioned.
“Our record quarter of new design contracts is a testament to our team, tools and technology, and in particular, the confidence our existing customers have in our ISN Platform,” said George Holmes, CEO of Resonant. “As an emerging industry leader in RF filter and module design, we remain focused on delivering innovative and extremely complex designs that our loyal customers have come to expect. As we begin a new year, it will be through these ongoing and expanding relationships that we will contract for higher value and more complex designs that we believe will generate higher royalty revenues from unit volume growth and higher average selling prices. Our royalty growth will be fueled by our ongoing execution as we drive towards mass market commercialization.”
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.
Resonant has published on its website the following videos that explain Resonant’s technologies and market positioning:
Safe Harbor/ Forward-Looking Statements
This press release contains forward-looking statements, which include the following subjects, among others: the capabilities of our filter designs and the timing and amount of future royalty streams. 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
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