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Resonant Inc (RESN) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Resonant Inc

CIK: 1579910 Ticker: RESN


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FOR IMMEDIATE RELEASE

Resonant Inc. Reports 2016 Financial Results
and Provides Business Update
Management to Host a Conference Call Today at 1:30 p.m. PT/4:30 p.m. ET

GOLETA, Calif. - March 30, 2017
--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 financial results for the year ended December 31, 2016 and provided a business update.

Management Commentary
“2016 proved to be a pivotal year for Resonant, as we transitioned from a development stage company to one focused on customer engagement and execution,” said George B. Holmes, CEO of Resonant.
“Throughout the past year, our intent has been to focus on engaging with the right players for specific designs that would show the greatest potential for revenue in the shortest amount of time. And while we started 2016 with zero active customers, MOUs or licensing agreements, we finished the year strongly with six customers and over 25 sockets under development, a majority of which are under formal licensing agreements that include upfront, non-refundable payments and negotiated royalty rates."

"It’s also worth noting that many of these new designs are in fact extensions of contracts with existing customers who know our company and technology intimately. Because of this, we believe it provides validation that our customers are pleased with the work we are doing, understand that our ISN + IP platform solutions can scale across several products in their portfolio, and see the potential for long term commercial success.”

"In February 2017, we achieved our largest milestone to-date - our first licensee reached the million unit shipment milestone of pre-production filters to four separate OEMs, which largely de-risked our technology. Delivering commercialized filters that utilize our proprietary design automation platform, ISN®, positions Resonant to potentially see an early ramp of royalty revenues in the second half of 2017."

“Looking ahead, we are confident our technology, tools and talent make Resonant competitive and favorably positioned in the market, and expect to see both additional follow on deals with existing customers and new customer engagements. With a growing number of designs under development and expanding customer pipeline, we are gaining momentum in our effort to commercialize our innovative filter design capability, which we expect to provide a roadmap to recurring royalty revenues well into the future.”

Customer Updates
To start 2017, one of Resonant’s licensee customers, in February, reached a very prominent early milestone - the shipment of over one million pre-production parts to four separate handset Original Equipment Manufacturers (OEMs). These are the first shipments by the customer under the initial licensing agreement the parties executed in May 2016, which covers three bands. Shipping these pre-production parts represents one of the last steps before commercial acceptance of its designs as Resonant



The following information was filed by Resonant Inc (RESN) on Thursday, March 30, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

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Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (parenthetical)
Condensed Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Stockholders' Equity
Acquisition Of Gvr Trade S.a.
Acquisition Of Gvr Trade S.a. (narrative) (details)
Acquisition Of Gvr Trade S.a. (schedule Of Assets Acquired And Liabilities Assumed) (details)
Acquisition Of Gvr Trade S.a. (tables)
Commitment And Contingencies
Commitment And Contingencies (future Minimum Lease Payments) (details)
Commitment And Contingencies (narrative) (details)
Commitment And Contingencies (tables)
Employee Benefit Plan
Employee Benefit Plan (details)
Income Taxes
Income Taxes (deferred Tax Assets And Liabilities) (details)
Income Taxes (income Taxes By Jurisdiction) (details)
Income Taxes (narrative) (details)
Income Taxes (tables)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (goodwill) (details)
Intangible Assets And Goodwill (intangible Assets) (details)
Intangible Assets And Goodwill (narrative) (details)
Intangible Assets And Goodwill (schedule Of Future Amortization Expense) (details)
Intangible Assets And Goodwill (tables)
Organization And Description Of Business
Organization And Description Of Business (details)
Property And Equipment, Net
Property And Equipment, Net (details)
Property And Equipment, Net (tables)
Related Party Transactions
Related Party Transactions (details)
Stock-based Compensation
Stock-based Compensation (equity Based Compensation Schedule) (details)
Stock-based Compensation (estimated Fair Value Of Stock Options) (details)
Stock-based Compensation (narrative) (details)
Stock-based Compensation (restricted Stock Activity) (details)
Stock-based Compensation (stock Option Award Activity) (details)
Stock-based Compensation (stock Options Outstanding And Exercisable) (details)
Stock-based Compensation (tables)
Stockholders' Equity
Stockholders' Equity (details)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (anti-dilutive Shares Excluded From Eps) (details)
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Warrants
Warrants (narrative) (details)
Warrants (schedule Of Warrant Activity) (details)
Warrants (tables)
Ticker: RESN
CIK: 1579910
Form Type: 10-K Annual Report
Accession Number: 0001579910-17-000006
Submitted to the SEC: Thu Mar 30 2017 5:31:15 PM EST
Accepted by the SEC: Thu Mar 30 2017
Period: Saturday, December 31, 2016
Industry: Semiconductors And Related Devices

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