Page 1

November 10 , 2021 ARESONANTⓇ Resonant Inc. Reports Third Quarter 2021 Financial Results Expands Partnership with World's Largest RF Filter Manufacturer for the Development of XBAR® - based RF Filters , Increasing Price Per Device by up to 400 % for the Most Complex Bands Surpasses Milestone of 100 Million Resonant - Designed RF Filters Shipped 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 , today provided financial results for the third quarter ended September 30 , 2021 . Management Commentary " We continued to execute on our operational strategy in the third quarter , most notably highlighted by the recent expansion of our agreement with our strategic partner , the world's largest RF filter manufacturer , " said George B. Holmes , Chairman and CEO of Resonant . " The extended agreement is a testament to the superiority of our XBAR® technology in meeting the exacting demands required by next generation wireless networks , and a critical advancement towards the high - volume manufacturing of XBARⓇ RF filters . " During the quarter we achieved the milestone of 100 million units cumulatively shipped by our customers , further highlighting the efficacy of our WaveXTM software platform , which provides innovative , cost - effective filter solutions for IDMs and enables them to accelerate time - to - market to meet increasing demand . In addition , we continued to focus on building out our already - robust patent portfolio to protect our competitive advantage and unique market position . " " Our work with our strategic partner remains a priority as we move through the fourth quarter , and into 2022. The expanded agreement provides Resonant with additional royalties over the contract period at an up to 400 % increased price per device . We are well positioned to capitalize on the value of our proprietary technology as we work to secure a XBARⓇ partner for non - mobile applications by year end . Our team is thrilled to be enabling global industry leaders to drive the transition to 5G , 6G , Wi - Fi 6 & 7 , UWB and mmWave - helping to unlock the true potential of these networks , " concluded Holmes . Third Quarter 2021 Company Highlights • Expanded multi - year commercial partnership with the Company's strategic partner , the world's largest RF filter manufacturer , for the development of high frequency , wide bandwidth , XBAR® RF filters . The details of the expanded agreement can be found in the Company's Form 8 - K filed on October 6 , 2021 .