Resonant Inc. Announces Second Customer

SANTA BARBARA, Calif.-- Resonant Inc. (NASDAQ: RESN), a late-stage development company creating innovative filter designs for radio frequency front-ends (RFFEs) for the mobile device industry, today announced it has engaged with a second customer for the design of an RF filter utilizing Resonant’s Infinite Synthesized Networks®, or ISN® technology.

Due to the competitive nature of the industry and the confidential aspects of development projects, neither the customer name nor the band under development will be disclosed. The design, which is estimated to take less than a year to develop, is intended to replace a BAW (bulk acoustic wave) filter with a SAW (surface acoustic wave) filter for a hard band. The goal of the project is to develop a new duplexer design for our customer to market to RFFE manufacturers and mobile device OEMs. The customer has not committed to use the resulting design and terms for a license have not been finalized.

Chief Executive Officer, Co-Founder and Chairman Terry Lingren, stated, “This is the next step in our plan to have multiple projects underway simultaneously, creating a robust licensing business with a diverse set of customers. The goal of the project is to design a production-ready duplexer for a hard band that will replace a higher cost BAW with a less expensive SAW. While the agreement is not binding, we feel it is the right way to proceed with our second customer as it affords us the flexibility to retain the technology while allowing our customer to decide whether to commercialize the design. If they decide to move forward with commercialization, we would then negotiate licensing terms.”

About Resonant Inc.

Resonant is creating innovative filter designs for radio frequency, or RF, front-ends for the mobile device industry using a fundamentally new technology called Infinite Synthesized Networks®, or ISN®. The RF front-end is the circuitry in a mobile device responsible for analog signal processing and is located between the device’s antenna and its digital baseband. Filters are a critical component of the RF front-end that select the desired radio frequency signals and rejects unwanted signals. For more information, visit www.resonant.com.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements. Forward looking statements include the following subjects, among others: the status of filter designs under development, the prospects for licensing filter designs upon completion of development, plans for other filter designs not currently in development, potential customers for our designs, the timing and amount of future royalty streams, the expected duration of our capital resources, our hiring plans, the impact of our designs on the mobile device market, and our business strategy. Forward-looking statements 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 (particularly as a new public company); 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 dependence on a small number of customers; the ability of our designs to significantly lower costs as 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.

Resonant
Ina McGuinness, 1-805-308-9488
IR@resonant.com
or
MZ North America
Matt Hayden, 1-949-259-4986
matt.hayden@mzgroup.us

Source: Resonant