Resonant Inc., a leading developer of RF filter solutions based on its robust intellectual property platform (ISN® design technology), has announced a preliminary corporate update for the past three months that ended March 31, 2021.
Highlights of the 2021 First Quarter
- Resonant’s customers shipped a record 8.6 million radio frequency (RF) filters designed using the company’s ISN® design technology in the first quarter of 2021, representing an approximate 437% increase from the same year-ago period and a sequential increase of approximately 25%. To-date, Resonant’s customers have shipped over 61 million RF filter units.
- The company’s robust patent portfolio grew to over 320 patents filed and issued as of March 31, 2021, greater than 165 of which are related to Resonant’s proprietary XBAR® and high frequency technologies. Patent count at the end of 2020 was over 300 total patents with greater than 150 focused on XBAR.
- Signed an extension to its licensing agreement with an existing Tier-1 Chinese foundry partner, collecting prepaid royalty revenues for multiple RF filter designs to address the China mobile handset market.
- Became an official member of the Wi-Fi Alliance, a global non-profit industry association of companies who share a vision of seamless connectivity. Resonant’s proprietary XBAR® technology is ideally suited for high-frequency 5 and 6 GHz Wi-Fi applications, such as Wi-Fi 6E, a rapidly emerging segment of the market.
- Appointed technical thought leaders Larry Larson, PhD, Jianming Jin, PhD, Gabriel Rebeiz, PhD, and Raafat Mansour, PhD to the company’s newly formed Technical Committee to its Advisory Board, with the goal of advancing XBAR® adoption and development efforts.
- Revenues in the first quarter of 2021 were in-line with previously issued guidance.
Management Statement
“Resonant’s clients accelerated unit shipment volumes in the first quarter, providing continued validation that the RF filters designed on our ISN® design platform are highly desirable,” said George B. Holmes, Chairman and CEO of Resonant. “This continued traction is a testament to the performance, predictability and time-to-market advantage delivered by our platform, which we believe will result in an increased number of prepaid royalty deals moving forward. This is evidenced by our recent prepaid royalty agreement with our tier-1 Chinese foundry partner."
“During the quarter we continued to strengthen our intellectual property portfolio, bringing our total patent count to over 320. We have focused primarily on our XBAR® technology, to strategically position Resonant as a leader in the much-anticipated performance of next-generation networks such as 5G, Wi-Fi and Ultra-wideband (UWB), as well as the unique applications that they enable when used in conjunction with Resonant’s high-performance RF filters.”
“Our financial results for the quarter are in line with previously issued guidance. We continue to expect non-linear revenue amounts from quarter to quarter as a result of revenue recognition for our prepaid royalty deals. Looking ahead, we anticipate the ongoing acceleration of unit shipment volumes with our existing customers, as well as additional prepaid royalty agreements. Notably, we are expanding our partner search for non-mobile applications and began sampling XBAR® Wi-Fi devices to non-mobile customers in the first quarter of 2021. We look forward to sharing our full first quarter results with our shareholders in May,” concluded Holmes.
About Resonant Inc.
Resonant Inc. is transforming the market for RF front-ends (RFFE) by disrupting the RFFE supply chain through the delivery of solutions that leverage its Infinite Synthesized Network (ISN) design platform, capitalize on the breadth of its IP portfolio, and are delivered through its services offerings. In a market that is critically constrained by limited designers, tools and capacity, Resonant addresses these critical problems by providing customers with ever increasing design efficiency, reduced time to market and lower unit costs. Customers leverage Resonant’s disruptive capabilities to design cutting edge filters and modules, while capitalizing on the added stability of a diverse supply chain through Resonant’s fabless ecosystem-the first of its kind. Working with Resonant, customers enhance the connectivity of current mobile devices, while preparing for the demands of emerging 5G applications.
