Resonant Expands Licensing Agreement with Existing Tier One Customer

Agreement Brings Total Products Being Designed with Resonant Technology to Seven (7); New Designs Include an Integrated Module with Both Duplexer and Quadplexer Utilizing Chip Scale and Wafer Level Packaging

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 it has signed an additional licensing agreement with an existing Tier One customer.

The new license agreement encompasses the development and licensing of an integrated module, which will include both a duplexer and quadplexer in a single module. The agreement means that this Resonant customer has seven (7) products in development based on the company’s patented technology and design tools.

The design will utilize chip scale packaging (CSP) as well as wafer level packaging (WLP) for use in a single module. Design acceptance milestone payments and royalty terms have been agreed upon, but will not be disclosed due to the confidential nature of such agreements.

The design will dramatically reduce the board footprint. The quadplexer will combine four separate frequency bands for increased data rates into a single miniature package and will feature a single antenna connection, eliminating the need for antenna switching. Quadplexers enable carrier aggregation (CA), where multiple frequency bands are combined for higher data rates – a key feature of LTE-Advanced. However, the design complexity for these multiplexers is dramatically increased, which has so far limited quadplexer availability. Quadplexers in a small footprint are being driven by the ongoing demand for smaller, lighter and thinner mobile devices with increasing video capabilities.

“Our software tools, IP libraries and advanced design capabilities continue to expand to meet the needs of our customers. We believe this new license agreement demonstrates our customer’s confidence in our ability to design complex and competitive RF front-end filters, and now integrated filter systems for modules, that we believe can be developed in less than half the time and manufactured at approximately half the unit cost of traditional designs,” said Terry Lingren, CEO and Co-Founder of Resonant Inc. “As the complexity of our designs scale, we are expanding our product portfolio to significantly higher-value products, and in turn, our future licensing potential.”

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 (e.g. SAW) and can perform as well as those using higher cost methods (e.g. 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 development of filter designs under the agreement, the capabilities and specifications of our filter designs, and future licensing potential for our designs. 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
Matt Hayden
1-949-259-4986
Matt.hayden@MZGroup.us

Source: Resonant Inc.