Resonant Signs MOU with New Customer to Design Three Duplexers

GOLETA, Calif.-- Resonant Inc. (NASDAQ: RESN), a developer of innovative filter designs for radio frequency front-ends (RFFEs) for the mobile device industry, today announced it has entered into a memorandum of understanding (MOU) with a new customer to develop surface acoustic wave (SAW) duplexer designs for three separate bands.

The MOU includes an upfront payment to Resonant and additional payments upon completion of the designs. This brings the number of filters Resonant is developing under MOUs to five. Additionally, Resonant has ongoing development projects for multiplexers, as well as a reconfigurable, or tunable, filter design.

CEO and Co-Founder Terry Lingren stated: “This MOU with a new customer comes less than a month after our recently announced MOU with an existing customer. The three duplexer designs for our customer accelerate the timing of potential design wins and increase the likelihood of our designs ultimately being incorporated into phones. Our customers are beginning to understand the capabilities of our team and design tools. These capabilities broaden our customers’ design capacities and give them cost-effective, competitive products in much less time than is normal in the industry.

“The proliferation of bands and the more demanding specifications for those bands are dramatically increasing the number of filter designs required for smartphones. Additionally, design capacity is rapidly becoming the bottleneck in the RF front-end industry. Both of these trends play to our strength in designing complex filters quickly and efficiently, enabling our customers to meet their increasingly aggressive market timelines and respond to the market opportunities presented by the OEMs,” concluded Lingren.

About Resonant’s ISN® Technology

The RF front-end continues to become more complex, driven by the soaring demands of global data, which in turn is accelerating the need for filters. Resonant’s proprietary Infinite Synthesized Networks®, or ISN, development platform, addresses this growing complexity by leveraging design techniques that have been historically reserved for semiconductor design, synthesis and fab integration and applying them to the design of complex acoustic-wave filters. The result is unique filter solutions that can displace conventional filters in a fraction of the time while affording significant cost and size reductions and improved performance.

About Resonant® Inc.

Resonant is creating innovative filter designs for the RF front-end for the mobile device industry. The RFFE 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 RFFE that selects the desired radio frequency signals and rejects unwanted signals and noise. For more information, please visit www.resonant.com.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements concerning Resonant’s ISN® technology and the use of that technology to design filters ultimately included in smartphones. Forward-looking statements are made as of the date of this release 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: Resonant’s ability to complete designs that meet customer specifications; customers’ desire to license designs following development; and our customers’ ability to sell products that include our designs to their customers. Additional factors that could cause actual results to differ materially from those anticipated by Resonant’s forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Resonant’s 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 Resonant expressly disclaims any obligation or undertaking to update forward-looking statements.

IR Contacts:
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 Inc.