GOLETA, CA -- (Marketwired) -- 12/26/17 -- Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency, or RF, front-ends that specializes in delivering designs for difficult bands and complex requirements, today announced it has signed an extension to a licensing agreement with an existing licensee and RFFE component supplier.
The customer has already licensed seven duplexers, as well as TDD filters for the Chinese market. The expanded agreement covers the addition of two, high-value duplexers and one difficult WiFi co-existence filter. The designs will be designed on a standard surface acoustic wave (SAW) process, but will be competing against more expensive bulk acoustic wave (BAW) devices. Upfront payments and royalties have been agreed upon, but will not be disclosed due to the confidential nature of such agreements.
"This extension to our licensing agreement demonstrates our customer's ongoing confidence in our ISN designed filters, duplexers and quadplexers," said George Holmes, CEO of Resonant Inc. "As we continue to demonstrate our capabilities and deliver high precision designs on cheaper processes and in less time, we expect our customers to achieve a greater market share, which ultimately will increase shareholder value for Resonant."
This press release contains forward-looking statements, which include the following subjects, among others: the capabilities of our filter designs, our customer's market share, and expected increases in shareholder value for Resonant. 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.