Resonant Expands Licensing Agreement with Existing Customer

Extension Covers the Design, Development and Licensing of a Complex Filter Specifically for the Chinese Market

GOLETA, Calif.-- 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 it has signed an extension to a licensing agreement with an existing customer.

The initial license agreement encompassed three Surface Acoustic Wave (SAW) duplexer designs for high volume Bands. Design acceptance milestone payments and royalty terms were agreed upon, but were not disclosed due to the confidential nature of such agreements.

Under the extended agreement, Resonant will design, develop and license a complex filter that is specifically focused on the support of the Time Division Duplex (TDD) requirements of the Chinese market. This filter, which has historically been delivered utilizing either a Bulk Acoustic Wave (BAW) or Film Bulk Acoustic Resonator (FBAR) filter design, will be designed as a lower-cost SAW.

Resonant’s patented ISN® Library of RF Design Tools enables traditional FBAR, BAW or Temperature Compensated (TC)-SAW filters for “hard” bands to be designed and modeled with higher accuracy and improved solutions, resulting in fewer foundry runs (faster time to market) and with low cost standard SAW processes.

“This extension to our previous licensing agreement further validates our customer’s confidence in our filter design capabilities and their intentions to commercialize the filters we are designing for them,” said Terry Lingren, CEO and Co-Founder of Resonant Inc. “With a filter focused on the massive Chinese market, we believe our designs will help this customer broaden its revenue potential and accelerate growth. As our collaboration deepens, we look forward to pursuing additional opportunities.”

Lingren, added: “This agreement confirms our belief that once our customer’s experience Resonant’s core design competencies, they will utilize the full capabilities that our team can offer for an increasing number of complex, higher value design projects. The more we demonstrate our capabilities, the higher value proposition we can enable in helping our customers achieve a greater market share, which ultimately, will lead to a larger royalty potential for Resonant.”

About Resonant® Inc.

Resonant is creating 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.

About Resonant’s ISN® Technology

Resonant can create designs for hard 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 or FBAR). 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. We believe that 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 development of filter designs under the agreement, the capabilities of our filter designs, the belief that our filter designs will accelerate our customer’s growth and result in future royalty streams for Resonant, and the future expansion of business with existing customers. 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 and can be done in half the number of turns; 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.

MZ North America
Matt Hayden, 1-949-259-4986
Matt.hayden@MZGroup.us

Source: Resonant Inc.