Resonant Customer Shipment Volumes Accelerate and Grow 200% Year-Over-Year in Fourth Quarter 2020
Radio Frequency (RF) Filter Volumes Using Resonant IP/Designs Reach 6.9 Million in Single Quarter; Over 53 Million Units Shipped To-Date
AUSTIN, Texas, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Resonant Inc. (NASDAQ: RESN), a provider of radio frequency (RF) filter intellectual property (IP) connecting People and Things, today announced
that fourth quarter 2020 customer shipment volumes of RF filters designed by Resonant reached 6.9 million, representing a quarterly year-over-year increase of over 200% and a sequential quarterly
increase of over 65%.
This acceleration in shipment volumes allowed Resonant’s customers to cumulatively surpass the milestone of shipping 50 million RF filters designed with the Company’s proprietary ISN technology. The RF filters shipped in the fourth quarter cover various cellular and Wi-Fi bands across multiple customers, primarily for use in mobile handset, infrastructure, asset tracking (GPS) and automotive applications. Revenues in the fourth quarter of 2020 are expected to be in-line with previously provided guidance.
“This tremendous RF filter volume growth is a testament to the value we provide our customers as they continue experiencing rapid demand for innovative and cost-effective RF filter designs for 4G, 5G and Wi-Fi applications,” said George B. Holmes, Chairman and CEO of Resonant. “The fourth quarter of 2020 marks the highest shipment volumes by customers in our company’s history, growing over 200% when compared to the fourth quarter of 2019. As we continue seeing customers choose to leverage our proprietary ISN technology, we expect the significant volume ramp to continue in 2021.”
Resonant’s Infinite Synthesized Networks (ISN), multi-physics Electronic Design Automation (EDA) software platform is used specifically for designing RF filters, which we believe is making the design process for filters better, faster, and more cost effective than competing approaches. Resonant’s XBAR technology, invented using the ISN platform, is believed to be the only RF filter technology that has showcased the ability to innately meet the complex requirements for bandwidth of 5G and Wi-Fi 6 and 6E applications.
Radio frequency (RF) filters, such as those designed by Resonant, are components embedded into a smartphone that reject and accept the appropriate signals. As 5G continues to develop and grow in importance, so will the ways RF filters are utilized in everyday life beyond texting, calling or streaming your favorite movie on a smartphone. Soon RF filters will be sited into autonomous and electric vehicles that will help relay when your car is too close to an object, out of its traffic lane or needs to stop, where speed is critical. For example, a one-second delay in the communication link with an RF filter could equal a delayed stop of 100 feet in a vehicle traveling at approximately 70 mph. In addition, hospitals are beginning to rely on RF filters to eliminate disruptions in their hospital networks, helping minimize the risk for areas such as remote surgery via robotic medical equipment. Put simply, RF filters provide protection for the wireless connectivity to sectors such as traffic, health, weather and environmental monitoring, and allows wireless communication in the same way as computers and smartphones.