Resonant Inc (RESN) 10-K Annual Report February 2018

--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 fourth quarter and fiscal year ended December 31, 2017 and provided a business update.

Management Commentary

“We continued our momentum in the fourth quarter of 2017, and now have eight straight quarters of execution,” said George B. Holmes, CEO of Resonant. “We now have 8 customers working with Resonant, over 50 designs of increasing complexity contracted, more than 10 qualified designs that our customers are sampling to OEMs, and over 7.5 million units utilizing our technology shipped in 2017.

“In 2017, we also enabled an entirely new segment of the market, which we have characterized as fabless filter companies. In many cases these are key component providers to the RF front end market who do not own a filter fab, but want to participate in the rapidly growing market. These fabless filter companies engage Resonant to create designs utilizing our ISN Platform and IP, and work with our foundry partners to actually create the filters.”

Holmes, continued: “We then took it one step further and opened up another segment of the market, by approaching pure play foundries and offering them the ability to enter the filter market by leveraging our technology and IP. By creating this eco-system, we are allowing numerous new players to enter the filter market supply chain and effectively compete in a market that historically has been dominated by only a few key players. It is worth noting that a similar model was introduced and proven very successful many years ago in the semiconductor industry, which was critical to its success. We believe that Resonant is the only company possessing the tools and IP necessary to provide a parallel model for the mobile filter industry.

“Fueled by our execution, we expect 2018 to be a breakout year for Resonant. We have started strong, with over 5 million filters shipped for royalty revenue in January alone, compared to approximately 7.5 million for the entire year of 2017. We have conducted tear-downs on a number of recently released, high volume phones, and have identified our technology in one of those phones. As a result of this, by year end, we expect to be receiving royalty revenues in the seven figures on a quarterly basis. It is this continued execution that will allow us to grow our customer base and expand agreements with current customers-all while continuing to invest in our core infrastructure to ultimately support a much more robust and mature organization. Clearly, we’ve demonstrated the fact that this team will not be distracted and will continue to have laser focus on execution and delivering shareholder value over the long term.”

The following information was filed by Resonant Inc (RESN) on Tuesday, February 27, 2018 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

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Resonant Inc provided additional information to their SEC Filing as exhibits

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: RESN
CIK: 1579910
Form Type: 10-K Annual Report
Accession Number: 0001579910-18-000002
Submitted to the SEC: Tue Feb 27 2018 8:06:13 PM EST
Accepted by the SEC: Wed Feb 28 2018
Period: Sunday, December 31, 2017
Industry: Semiconductors And Related Devices