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$RESN Resonant Receives Upfront Royalty Pre-payments of $7.0 Million

"AUSTIN, Texas, Nov. 10, 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, has received payments totaling $7.0 million for initial pre-paid royalties. The payments were received pursuant to the terms of the recently expanded multi-year commercial partnership with the world’s largest RF Filter manufacturer whereby Resonant's XBAR® technology will be leveraged to design RF filters for next-generation networks.

“These payments are a part of a series of prepaid royalties for the first of four new RF filter designs, representing the advancement of our XBAR® partnership,” said George B. Holmes, Chairman and CEO of Resonant. “By expanding the strategic agreement to now include a total of eight RF filter designs, our companies are demonstrating a mutual commitment to unlock the true performance of next-generation mobile networks with innovative filters based on XBAR® technology. We look forward to sharing these important partnership milestones that will continue to enhance shareholder value.”