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Resonant Inc. (RESN)

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3.3500-0.0600 (-1.76%)
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  • K
    Kristen
    Platform is now cloud-based with full 3D finite element modeling to enable XBAR® design workflow; enhancements enable simulation of resonators and filters not possible with today’s commercially available tools
    AUSTIN, Texas, June 21, 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, today announced WaveX™, Resonant’s upgraded finite element modeling (FEM) software platform used for designing RF filters.
    WaveX™ is the upgraded version of Resonant’s legacy Infinite Synthesized Networks (ISN®) design software. The new platform delivers full 3D finite element modeling simulation capability to design RF filters, and leverages a hybrid multi-cloud, large-memory GPU-powered implementation.

    “By leveraging our suite of software design tools, Resonant takes an innovative approach to RF filter design that results in superior performance, cost savings, and significantly faster time to market,” said George B. Holmes, Chairman and CEO of Resonant. “With WaveX™, we are able to accurately simulate the performance of our XBAR® technology and port designs across multiple foundries. Using WaveX™, we can effectively identify causes of spurs, optimize isolation, minimize insertion loss, manage bandwidth and center frequency, which are a few of the critical requirements for high-performance 5G, Wi-Fi and Ultra-wideband (UWB) filters.
    “WaveX™ demonstrates the superiority of our XBAR® technology to natively meet the demands of the 5G spectrum. Compared to the limited general-purpose offerings from other filter design tools in the market, WaveX™ is designed to enable a dramatic improvement to designer workflow efficiency and scalability, as well as exceptional accuracy and precision. Coupled with the on-demand cost optimization of the cloud implementation, we are providing filter designers with an unmatched solution to fulfill the promise of next-generation wireless networks.”
    Resonant creates designs for difficult RF frequency bands and modules that meet challenging and complex 5G, Wi-Fi and UWB RF front-end requirements. Using WaveX™, Resonant’s designs have the potential to be developed in half the time and manufactured at a lower cost than traditional approaches. WaveX™ is a suite of proprietary algorithms, software design tools and network synthesis techniques that enables Resonant to explore a much larger set of possible design solutions.
    Resonant delivers rapid design simulations to its customers, which they manufacture in their captive fabs or have manufactured by one of Resonant’s foundry partners. These improved solutions still use Surface Acoustic Wave (SAW) or Temperature Compensated Surface Acoustic Wave (TC-SAW) technologies with the performance of higher cost manufacturing methods like Bulk Acoustic Wave (BAW).
    Resonant's WaveX™ delivers excellent predictability, enabling achievement of the desired product performance in roughly half as many turns through the fab. In addition, Resonant's simulations model fundamental material and structure properties, which makes integration with foundry and fab customers much more intuitive, because they speak the "fab language" of basic material properties and dimensions.
  • c
    c
    Is Resonant Poised For A Breakout With Its Proprietary RF Filter Technology?
    Jun 17, 2021,07:40am EDT
    Jim Vinoski

    The hype around 5G wireless network technology is currently off the charts. But just because your smart phone says it’s on hooked up to a 5G network doesn’t mean it’s truly running 5G. In fact, most people are unaware of the reality that we’ve still got a way to go for true 5G. Resonant Inc. says that its XBAR radio frequency (RF) filter is one of the keys to getting us there.

    Resonant, a late-stage tech development company, is headquartered in Austin, Texas, and was founded in 2014. The company trades on NASDAQ under the symbol RESN and has a market capitalization of nearly $225 million. Resonant does no manufacturing itself, but is a provider of intellectual property (IP) and services to device manufacturers.

    The primary IP it offers is the aforementioned RF filters. You’ve probably never heard of them, but they’re a vital component of your smart phone. “Today’s cell phone has a big wide data pipe coming in,” explained George Holmes, Resonant’s Chairman and CEO. “RF filters are physical hardware devices that keep signals from colliding. When signals collide, the phone gets hot, battery life goes down, and your movie download takes longer. Preventing those collisions gets harder with 5G, and with the new WiFi spectrum allocated by the FCC.”

    That makes the filters important not only because of the greater demands from a technology perspective, but also because of sheer numbers. “The first iPhone had less than a dozen filters,” Holmes said. “The latest one has about a hundred.”

    In the end, of course, all the numbers and technology aren’t worth a thing if they don’t improve the user experience. That’s where true 5G holds immense promise: where the download time for a 3 gigabit movie with current technology might take over 20 minutes, properly functioning 5G technology will cut that time to just under half a minute.

    And Resonant believes it’s uniquely capable to help deliver what will be needed to make that “properly functioning” qualifier a reality, and that its independence from manufacturing is a strength. When the company was designing its 4G IP, it developed its proprietary ISN design software platform, which it says allows it to leapfrog the traditional iterative filter development process. “Because of the precision of our design software tool, we were able to make use of Chevy manufacturing technology for devices that run like a Ferrari,” said Mike Eddy, VP, Corporate Development at Resonant. “But for the next generation, you need a Lamborghini. Now the legacy guys who are married to foundries are trying to make their Ferraris look like Lamborghinis. With our XBAR technology, we came up with a way to leverage new engineered substrates with our new structures, and our filters are running like a Lamborghini right out of the gate. Our competitors will try to get close to XBAR, but they can’t match it.”

    Of course, the proof of all that is in the business results. Like so many tech companies, Resonant has experienced the hype cycle—their stock price spiked after their IPO, and has had some subsequent lesser spikes since with various news releases, but has averaged flat for the past couple years until posting a substantial gain in the first half of this year. Holmes is brutally honest about the missteps along the way. “We got out over our own skis a few times with some public discussions that shouldn’t have taken place,” he said.

    And so far the company remains unprofitable. But Holmes believes it’s firmly on the path to profitability. “When I joined, our market cap was $11 million,” he said. “Now it’s headed for $230 million. Our business is growing. We gave honest guidance through the tough times of COVID, and met or exceeded it each quarter. I believe we’ll hit our cash flow breakeven target sometime in 2022. If you look at our peers, they bought fabs and manufacture for themselves, so their road to profitability is much tougher. Our business model is simple: we license our technology to the world’s biggest companies.”

    The company points to its licensing agreement with Murata, the world’s largest filter manufacturer, with 38% market share, as the example for its plan of attack. “We have four XBAR devices currently under contract,” Holmes said. “We only need twelve concurrently, of the same magnitude, to reach cash flow breakeven.”

    Resonant points to two other factors in its favor: its strong IP portfolio and its advisory board. The company boasts over 300 total patents, with half of those centered on its XBAR technology. Its advisory board, meanwhile, includes such names as Clint Brown, who was Director Business Development Mobility Wireless Connectivity at Broadcom and was the Vice Chairman of the WiFi Alliance; Rubén Caballero, Corporate VP of Engineering, Devices & Technology in the Mixed Reality & AI Division at Microsoft, previously VP of Engineering at Apple; and Peter Gam
  • D
    D
    Excerpts from article reference by tommybwahahama:
    The primary IP it offers is the aforementioned RF filters. You’ve probably never heard of them, but they’re a vital component of your smart phone. “Today’s cell phone has a big wide data pipe coming in,” explained George Holmes, Resonant’s Chairman and CEO. “RF filters are physical hardware devices that keep signals from colliding. When signals collide, the phone gets hot, battery life goes down, and your movie download takes longer. Preventing those collisions gets harder with 5G, and with the new WiFi spectrum allocated by the FCC.”

    That makes the filters important not only because of the greater demands from a technology perspective, but also because of sheer numbers. “The first iPhone had less than a dozen filters,” Holmes said. “The latest one has about a hundred.”

    In the end, of course, all the numbers and technology aren’t worth a thing if they don’t improve the user experience. That’s where true 5G holds immense promise: where the download time for a 3 gigabit movie with current technology might take over 20 minutes, properly functioning 5G technology will cut that time to just under half a minute.

    And Resonant believes it’s uniquely capable to help deliver what will be needed to make that “properly functioning” qualifier a reality, and that its independence from manufacturing is a strength.

    This technology is needed to improve military, medical, surgery and autonomous vehicle application in addition to the every day smart phone user.
  • H
    Hsrry
    D...People should read the entire Forbes article. It appears RESN is taking a more conservative approach to information releases. Even at that, it appears they will be cash flow break even in 2022 which is sooner than previously projected. This is big in my opinion. They already have four contracts and at 12 contracts they are break even. After that, as stated in the previous conference call, the potential is hundreds of millions of dollars per customer annually. People really need to let that sink in.
  • I
    IC40
    Half a million shares traded in the first half hour…looks like it’s shaping up to be a good day
  • D
    D
    trai, you sure have mixed messages. 7 days ago it was going to 20 but could make 30, 6 days ago you sold your position, 4 days ago you averaged down. What gives?
  • D
    D
    A misunderstand and unrecognized micro cap with a great future. As such it is undervalued. Great opportunity for gains in my opinion.
  • t
    tommybwahahama
    fluff(?) piece in forbes. yahoo didn't lemme post the link.
  • J
    JOZ
    Time to Vote
    1. The election of eight directors to hold office until 2022.
    2. Was it the director’s ideas to sell stock to gain $100,000,000 which will dilute the stock?
    3. What was the $100,000,000 going to be used for, executive compensation or maybe a merger?
    4. Was it the directors idea to vote on the executive compensation that includes them?
    5. Do the directors have anything to do with the high expenses?
    6. How do you feel about the endorsement compensation of their executive officers?
    A lot of patents where designed years ago and the new ones don’t seem to be flying off the shelves. They have the revenue of about four McDonald restaurants.
    Put the pressure on them. They did a lot of talk, now let's see them do the walk.
    Make your voice heard on critical issues like board elections, and compensations.
  • L
    Long Bombers
    Nice. Someone else has faith. 10K spiked it up 10cents. Something it brewing.
    Neutral
  • t
    trai
    Hate to say it but I really told you guys so. I’ll be grabbing shares for much cheaper like I said
    Bearish
  • D
    D
    Why the price move today? I have found no news. Any of the longs see anything newsworthy?
  • J
    John
    Interesting, lots of insider acquire and dispose on 6/9
    wondering what they know
  • H
    Hsrry
    For those that keep saying that RESN has nothing that the worlds largest filter manufacturers want...think again: (from the earnings call transcript)

    Resonant maintains unique position within the RF filter market, meaning we do not compete with RF filter manufacturers. On the contrary, we are leveraging our technology platform to enable the world's largest filter manufacturers, and in doing so, helping the leading global OEMs deliver products into the market with state-of-the-art filters. This strategic approach allowed us to renew partnership with the world's largest RF filter manufacturer late in 2019.
  • M
    Miles
    Big things coming. What XBAR does for 5G and cell phones it will do for wifi.
    https://airtame.com/blog/wifi-facts/
  • H
    Hsrry
    Just a little reminder (from the conference call): Without XBAR, 5G networks would likely utilize today's aluminum nitride BAW RF filters, which were developed specifically for 4G. Due to their limited high-frequency RF performance, these legacy filters would require many more base stations deployed across the network to deliver the same coverage and consumer experience. Rolling out these additional base stations would be possible, but it's an incredibly more costly approach to achieve true 5G performance. Further, the spectrum wasted due to interference degrading spectral efficiency would be massive.
  • D
    D
    Interesting price movement and volume of trading over the last few weeks. After preannouncing on 4/13 the stock traded down from a high of 3.98 to a low of 2.34 the day after actual earnings report on 5/12. Since then volume was below average for 5/17-20 and then exploded 5/21.

    This type of movement can be caused by a number of reason. Short covering can explain part of the price movement and volume increase. Institutional buying is not reported immediately and could be part of the explanation. Someone on the message board commented about a company insider buying 5K shares. Many investors in this stock have more shares than that insider bought. Momentum will add to what is occurring. Of course the most common thesis will be that some insiders are making a move on news not currently released to the public (that would be insider trading ) which is more common than most investors would think. Time will tell but it is good to see the stock price correcting.

    RESN is undervalued in my opinion and is a likely acquisition target for another filter company as they are a small fish in a big pond. Murata continues to be my likely acquirer. Most investors do not know Murata and their financial success in the filter industry.

    Here is what TD Ameritrade reported on Fridays volume and price movement:

    Resonant (NASDAQ:RESN) stock increased by 7.58% to $3.12. Trading volume for Resonant's stock is 511.0K as of 12:30 EST. This is 39.32% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $188.5 million.

    Undervalued stock to be recognized for its technology and future price appreciation!
  • E
    Erick
    You must listen to their technical presentations and read the white papers.
    Their technology is the top in RF filtration especially for ultra fast 5G and beyond, nothing comes close in efficiency, price, delivery.....This stock will easily double !
    Bullish
  • M
    Marc
    Anybody know what caused the Feb spike? Looks like a violent sell off since. The latest move looks like another dead cat bounce or reflex rally. I am a new long looking to add just trying to guage what others are thinking.