Resonant Customers Ship Record 8.6 Million RF Filters Leveraging ISN Design Technology in First Quarter of 2021; Representing Year Over Year Growth of 437%

Resonant’s Intellectual Property Portfolio Increases to Over 320 Patents Issued and Pending

AUSTIN, Texas., April 13, 2021 (GLOBE NEWSWIRE) -- Resonant Inc. (NASDAQ: RESN), a provider of radio frequency (RF) filter solutions developed on a robust intellectual property platform, designed to connect People and Things, has provided a preliminary corporate update for the three months ended March 31, 2021.

First Quarter 2021 Company Highlights

• 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 Commentary

“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.