Resonant signs licensing agreement with customer
Resonant may be turning a corner.
The company announced it signed a second licensing agreement May 17 with an existing customer. The Goleta-based company is developing smartphone technology called duplexers it intends to license to manufacturers of smartphone technology. Last week, it announced the first revenues in the company’s history when it reported first quarter earnings May 12.
Resonant designs a smartphone component called a duplexer. The duplexer acts as a phone’s eyes. A set of filters inside the duplexer selects which radio frequencies to use for sending and receiving signals and blocks unwanted signals. Each filter is a just a few millimeters in size and some sit near a phone’s internal antenna.
Resonant said in a news release it signed an unnamed agreement with an existing customer May 17. The news release was sparse on details and did not disclose terms of the agreement, which is for the customer to license three Resonant filters.
“This license agreement relates to the development engagement that was outlined in the memorandum of understanding signed with this customer in March 2016,” the news release said.
In an April 27 news release, the company said it signed its first licensing agreement for two products with an existing customer. Royalty terms were agreed upon but not disclosed. The news release at the time did not say if revenues would come from the deal by the end of 2016.
“We believe we are gaining momentum with another licensing agreement that demonstrates our customer’s intentions to commercialize the filters we are designing for them,” said CEO Terry Lingren in a news release. “This customer has excellent process capability, is an up-and-coming competitor in this market with a customer base that is complementary to that of our other customer.”
On May 12, the company reported revenues of $27,000. The company said the money came from two customers who made upfront payments on two upcoming projects. The company will also receive $53,000 in deferred revenue from the customers by June 30.
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