Resonant Secures Licensing Terms for an Additional Three Designs with an Existing Tier One Customer

Company’s New Product Design Momentum Extends to First Integrated Module That Incorporates Three Complex Duplexers

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 licensing terms for an additional three designs with an existing Tier One customer. Resonant previously announced an agreement with this customer in April 2016 that encompassed two high-volume Surface Acoustic Wave (SAW) duplexer designs for filters traditionally fabricated as Bulk Acoustic Wave (BAW) duplexers. This new agreement brings the total number of complex designs being developed for this customer to five (5).

New license terms encompass the development and licensing of Resonant’s first integrated module design that includes three complex duplexers. The design will be designated to utilize wafer level packaging (WLP). Design acceptance milestone payments and royalty terms have been agreed upon, but will not be disclosed due to the confidential nature of such agreements.

WLP technology packages an integrated circuit while still part of the wafer, rather than the conventional method of slicing the wafer into individual circuits and then packaging them, delivering advantages of component size as well as production time and cost.

“With this new agreement, we continue to add to our momentum as our customers realize the value of our technical design tools, IP libraries and the advanced capabilities of our team,” said Terry Lingren, CEO and Co-Founder of Resonant Inc. “This design, utilizing WLP, will meet both the technical demands and size constraints facing not only our customer, but the mobile device industry as a whole. We believe this design will provide a significant competitive advantage for our customer and we look forward to exploring additional opportunities in expanding our relationship.”

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, and the capabilities and specifications of our filter 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.

MZ North America
Matt Hayden, 1-949-259-4986

Source: Resonant Inc.