Resonant Inc. (NASDAQ: RESN), a developer of software tools and intellectual property, and design services provider of filters, for radio frequency front-ends (RFFE) that specializes in delivering solutions for difficult bands and complex requirements, today announced financial results for the third quarter ended September 30, 2016 and provided a business update. Management Commentary "During the third quarter of 2016, we strengthened our corporate foundation with the appointment of a new CFO, obtained additional capital to execute on our strategy, and gained both new customers and follow on orders from existing customers," said Terry Lingren, Co-founder and CEO of Resonant. "With a total of 20 designs currently under development with five customers, we are gaining momentum in our effort to commercialize our innovative filter design capability and generate recurring royalty revenues. As such, we will continue to actively pursue new opportunities with current and future customers to achieve these objectives." "Other highlights from the quarter included the closing of an $11.5 million public offering of our common stock, which we believe provides us with sufficient capital to fund our planned operations through 2017." "We are also pleased to welcome Jeff Killian as our new Chief Financial Officer. Jeff is a seasoned financial executive with 30 years of relevant financial, filter and semiconductor industry experience at well-respected companies, and we look forward to leveraging his deep experience and expertise." "In October, we published our latest whitepaper titled, ' RF Innovation and the Transition to 5G Wireless Technology,' which provides some insight on the RF needs of 5G devices. We believe the RFFE for mobile phones will continue to increase in complexity and require more filters and multiplexing to increase data rates. To address these needs, we have developed a comprehensive Electronic Design Automation (EDA) design platform, initially focused on acoustic wave filter design, which is currently an absent design block in many EDA tools to enable automated design capabilities for the RF front-end that we believe will help improve speed, flexibility and ultimately have the ability to significantly drive down costs." "Taken together, we believe that our foundation of customers, technology, tools and talent have and will continue to enable us to capture customers, further positioning us for potential success in the filter design market."