Resonant Announces First Shipments Using ISN Designs

Over One Million Units Successfully Shipped to Four Separate Handset OEM’s

Management to Host a Conference Call Tomorrow at 8:00 a.m. PT/11:00 a.m. ET

GOLETA, Calif.--(BUSINESS WIRE)-- 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 one of its licensee customers has successfully shipped over one million pre-production parts to four separate handset Original Equipment Manufacturers. These are the first shipments by the customer under the initial licensing agreement the parties executed in May 2016, which covers three frequency bands. These high volume bands encompass three Surface Acoustic Wave (SAW) duplexers, which were designed utilizing Resonant’s proprietary design automation platform, ISN®.

“Shipping these pre-production parts represents one of the last steps before commercial acceptance of our designs as we transition from a development-stage company into a product-focused licensor with recurring royalty revenue,” said George B. Holmes, CEO of Resonant. “Throughout the past year, we’ve remained intently focused on engaging with the right players for specific designs that we believe could generate revenue in the shortest amount of time. We believe these initial shipments will represent modest revenue in mass production later this year, they none the less validate our capabilities to convert ‘ISN Ready designs into production within 9-12 months of signing a license agreement. We look forward to our continued collaboration with this customer, including the work we have commenced on additional frequency bands. We believe this collaboration ultimately will showcase the value that our tools, technology and team bring to the RF front-end industry.”

Conference Call and Webcast

Management will host an investor conference call tomorrow at 8:00 a.m. Pacific time (11:00 a.m. Eastern time) to provide a corporate update and discuss the first volume shipments, followed by a question and answer session. To participate, please use the following information:

Date: Thursday, February 9, 2017
Time: 8:00 a.m. Pacific time (11:00 a.m. Eastern time)
U.S. Dial-in: 1-877-407-3982
International Dial-in: 1-201-493-6780
Conference ID: 13655087
Webcast: http://public.viavid.com/index.php?id=122939

Please dial in at least 10 minutes before the start of the call to ensure timely participation.

A playback of the call will be available through March 9, 2017. To listen, call 1-844-512-2921 within the United States or 1-412-317-6671 when calling internationally. Please use the replay pin number 13655087. A webcast will also be available for 30 days on the IR section of the Resonant website or by clicking here: RESONANT CORPORATE UPDATE CALL.

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 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). 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 transition from a development-stage company to a licensing company, the timing and amount of future royalty streams, and the timing to bring designs into production. 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.

MZ North America
Greg Falesnik, 1-949-385-6449
Greg.Falesnik@mzgroup.us

Source: Resonant Inc.