Benzinga | Apr 13, 2021 08:55AM EDT

Resonant Reports Co. Customers Shipped 8.6M Radio Frequency Filters Using Co.'s ISN Design Technology In Q1

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(r) 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(r) 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(r) 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(r) adoption and development efforts.

* Revenues in the first quarter of 2021 were in-line with previously issued guidance.