Safe Harbor / Forward-Looking StatementsThis press release contains forward-looking statements, which include the following subjects, among others: the capabilities of our software tools and filter designs; and the potential impact of our designs on the filter supply chain model. 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.
Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency front-ends, or RFFE, that specializes in delivering designs for difficult bands and complex requirements, has signed a licensing agreement with a new customer, who is an established provider of key components for the RFFE market in China. This new license agreement covers the development and licensing of two Quadplexers that will be designed using a standard Surface Acoustic Wave (SAW) process. The agreement will leverage existing SAW foundry partners, as well as backend and packaging partners, capitalizing on Resonant's transformative position in enabling a fabless filter supply chain model to provide an alternative, stable and secure supply chain for the emerging module market in China. Design acceptance, milestone payments and royalty terms have been agreed upon, but will not be disclosed due to the confidential nature of such agreements. "Our seventh customer is an established provider of key components into the Chinese market, servicing an extensive customer base which includes several Tier One handset vendors," said George Holmes, CEO of Resonant Inc. "Working closely with our existing foundry partners, we are using the fabless model to capitalize on the quickly expanding RFFE market, potentially disrupting the supply chain by enabling new market entrants with the potential for faster design times and lower cost. We're continuing to gain momentum, as our customers realize the added value of our innovative software, intellectual property, and the capabilities of our experienced team." 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 difficult 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. surface acoustic wave (SAW) and/or temperature compensated surface acoustic wave (TC-SAW)) and can perform as well as those using higher cost methods (i.e. BAW or FBAR). While most of the industry designs 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.