About Resonant

Resonant Inc., a late-stage development company, creates a software, intellectual property (IP), and services platform that has the ability to increase designer efficiency, reduce the time to market and lower unit costs in the designs of filters for radio frequency (RF) front-ends for the mobile device, automotive, medical, internet-of-things and related industries. The software platform the company continues to develop is based on fundamentally new technology that the company calls WaveX, to configure and connect resonators, the building blocks of RF filters. The company’s WaveX platform allows it to develop unique, custom designs that address the increasing complexity of the RFFE (RF Front-End) due to increasing bandwidth requirements, such as by using carrier aggregation (the combining of multiple frequencies into a single data stream to increase throughput through higher data rates), or CA, by both reducing the size of the filter and improving performance. The company’s intention is to utilize its WaveX platform to support its customers in reducing their time to develop complex filter and module designs, to access new classes of filter designs, and to do it more cost effectively. Additionally, the company’s WaveX platform has allowed the company to expand its customer focus beyond just filter manufacturers by enabling a new class of customer - fabless filter manufacturers. These companies do not have their own internal filter fabrication facility, or fab, and typically already would be supplying other products in the RFFE to the original equipment manufacturers (OEMs), and, as a result do not require a protracted new vendor qualification process in order to supply parts. Through the company’s existing customer relationships, the company is able to leverage its WaveX tools to deliver cutting edge filter designs to these fabless filter manufacturers. The company is commercializing its technology through the creation of filter designs that address the problems in the high growth RFFE industry created by the growing number of frequency bands in mobile and other RFFE enabled devices. The company has developed and continue to expand a series of single-band designs for frequency bands presently dominated by larger and more expensive bulk acoustic wave, or BAW, filters. The company is also developing multiplexer filter designs for two or more bands to address the CA requirements of its customers. The company is using its WaveX platform to efficiently integrate these designs into RF modules for its module customers. The company is leveraging WaveX to develop these designs targeted for either the Surface Acoustic Wave (SAW) or Temperature Compensated, Surface Acoustic Wave (TC-SAW) manufacturing processes. In 2018, the company further extended WaveX for BAW designs, which has resulted in its invention of a resonator structure based on a combination of interdigital transducer (IDT) and piezoelectric membrane, which the company calls XBAR, which exhibits performance parameters suitable for 5G, WiFi, and UltraWideband (UWB) applications - high frequency operation, large bandwidth and high power reliability. The company’s success with XBAR is dependent on its ability to develop high frequency filters utilizing these resonator structures that are successfully adopted by its targeted customers, which will be determined by its ability to show improved performance over competing products or significantly reduce the size and cost of their products. Licensing the company’s designs, either as prepaid royalties or royalties paid as products ship, is the most direct and effective means of validating its WaveX platform and IP to address this rapidly growing market. The company’s target customers make part or all of the RFFE. The company intends to retain ownership of its designs, and the company expects to be compensated through license fees and royalties based on the sale of RFFE filters that incorporate its designs and leverage its WaveX platform. The company’s customer engagement process typically begins with the execution of a License Agreement, or LA, for specific bands. In 2017, in order to further facilitate the company’s fabless filter program, and to provide manufacturing stability across the supply chain, it embarked on the creation of the company’s Foundry Program. Foundries joining Resonant’s program first complete a foundry evaluation process to ensure alignment with the company’s customers for filter performance, manufacturing quality and capacity, and business practices. Once the evaluation is completed, the foundry runs a characterization lot, used to create a foundry process design kit, after which the company is ready to start designs for manufacture in the foundry. Packaging/Back-end vendors can also join the program by completing a back-end evaluation process to match their capabilities with foundry partners and its customers. Through this program the company enables a secure supply chain for all its customers. In 2019, the company began the development of Filter IP Standard Library designs to enable faster time to market for the company’s customers. Further, the first Filter IP Library design was incorporated into Cadence Design Systems, Inc.'s AWR design suite, allowing module designers access to Resonant filter designs. At Mobile World Congress, the company showed the first 5G filter based upon XBAR technology - an n79 filter. During 2020, the company continued the development of filters under the commercial agreement, resulting in completion of the second milestone ahead of schedule in October 2020. In September 2021, the company entered into Addendum 1 to the commercial agreement, which amends and supplements the agreement to provide for the development of XBAR-based designs for up to four additional bands. In October 2021, the company entered into the first statement of work under the amendment for the development of an additional band. In 2021, the company continued to develop XBAR-based filters, both for the mobile market in collaboration with Murata Manufacturing Co., Ltd. (MMC), as well as for the non-mobile market. During the year, the company expanded its patent portfolio and ended the year with more than 415 issued and pending patents, with more than 265 patents protecting the company’s XBAR technology. In September 2021, the company expanded its agreement with MMC for the design of up to four additional radio frequency bands. In October 2021, the company’s customers cumulatively surpassed the milestone of shipping 100 million RF filters designed with the company's proprietary WaveX design platform. The company plans to continue to pursue filter design projects with existing and potential customers and other strategic partners. These types of arrangements offer complementary technology and market intelligence. In addition, the company will continue to help develop a fabless filter eco-system to support the growth in filter volumes for its customers. The company will continue to develop XBAR technology for both mobile and non-mobile applications, including 5G, WiFi and Ultra-WideBand (UWB) applications, forming strategic partnerships with filter manufacturers and customers to bring the technology to market as quickly as possible. The company intends to retain the ownership of its technology, software, designs and related improvements. Commercialization Plan The company will continue to pursue filter design projects with existing and potential customers and other strategic partners, and licensing its designs is the most direct and effective means of delivering the company’s solutions to the market and validating the technical advantages of the company’s tools, IP and team. In addition, the company will continue to help develop a fabless filter eco-system to support the growth in the filter volumes for the company’s customers. The company will continue to develop XBAR technology for both mobile and non-mobile applications, including 5G, WiFi and Ultra-WideBand (UWB) applications, forming strategic partnerships with filter manufacturers and customers to bring the technology to market as quickly as possible. The company’s strategy is to establish and leverage alliances with customers, who will help grow the market for its designs by integrating them with their own proprietary technology and products, thus combining their own particular strengths with the company to provide an extensive array of solutions and to develop and license filter designs that offer improvements in the time to develop, cost, size and performance of RFFEs. The company’s customers are filter manufacturers, RFFE module manufacturers, RF active and passive component suppliers and potentially mobile handset OEMs. For most of the company’s customers, the company licenses specific, custom designs. In 2018, the company introduced and announced the first customer for the company’s standard IP filter library of products. In these cases, the company develops a standard design at one of the company’s qualified foundries and customers can then license this design without paying for or waiting for the completion of development. In October 2019, the company announced a commercial agreement with the industry's largest provider of filters for the RFFE to develop and license filters based on XBAR technology. The power of Resonant WaveX tools and methodology will continue to enable fabless customers and filter foundries to newly enter or expand their participation in the supply chain for RF filters. In late 2016, the company expanded its customer focus to include fabless filter manufacturers, which are companies that do not have their own internal filter fabrication facility. Typically, these companies already are supplying other products in the RFFE to the OEM, and as a result, do not require a protracted new vendor qualification process in order to supply parts. In 2017, to further facilitate the company’s fabless filter program and to provide manufacturing stability across the supply chain to the company’s fully integrated filter customers, the company created its Foundry Program. It is through this program that the company can enable a secure supply chain for all the company’s customers. In 2019, the company began development of Filter IP Standard Library designs to enable faster time to market for the company’s customers. Single Band Designs The company continues to develop a series of SAW filter designs for RF frequency bands presently dominated by the larger and more expensive BAW filters. In 2020, the company continued to develop single band, SAW filter designs for customers. Some of these filter designs are for duplexers that have historically been TC-SAWs or BAWs while others are for discrete SAW filters that may need improvements in performance, size or cost. The single band designs included WiFi Co-Existence filters, which pass licensed wireless frequencies, while protecting against WiFi interference, and designs for module applications, which require wafer-level packaging (WLP) and modeling of the module board. Using the company’s WaveX technology, combined with its experience and know-how, the company can design innovative SAW filters that meet the performance requirements for many of these bands but at significantly less cost than that of BAW filters they would replace. Multiplexer Designs During 2018, the company expanded its capability to optimize the performance of quadplexers on OEM phone-boards in order to help the company’s customers demonstrate ‘real world’ performance. During 2019, the company expanded its capability to produce TC-SAW and high power quadplexer designs. The company’s WaveX design platform is ideally suited to these difficult filter design problems that cover a wide frequency range with much more demanding performance requirements. The company is developing high performance multiplexer designs to address this growing market. XBAR Filters The company’s WaveX design platform enabled it to invent a new resonator technology, XBAR. Large instantaneous bandwidth filters at high frequency (above 3GHz) are required for next generation wireless technologies, such as 5G, WiFi 6E and UWB, to support high data-rates. Filters using XBAR resonators are ideally suited for these applications. During 2021, the company continued to develop XBAR filter designs for the company’s partner, focused on the mobile market. In addition, the company designed and had fabricated through the company’s foundries XBAR designs for 5G and WiFi non-mobile applications. The company’s immediate focus is to address the problems in the RFFE with innovative single-band and multiplex designs made possible with the company’s WaveX design platform. These designs present the greatest near-term potential for commercialization of the company’s technology. The company expects the trend towards spectrum proliferation, particularly with new 5G spectrum, in addition to CA and multiple input multiple output, will require complex filters and multiplexing. The company’s WaveX and XBAR technology will enable cost effective designs for these applications. Intellectual Property The company’s patent portfolio comprises more than 415 issued and pending U.S. and foreign patents, with more than 265 targeting XBAR. The company has also registered U.S. trademarks for ‘Resonant’, ‘WaveX’, and ‘XBAR’. Research and Development The company’s research and development expenses were $22.9 million in 2021. History Resonant Inc. was founded in 2012. The company was incorporated in Delaware in 2012.