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Resonant 1Q20 results -3

17:04 06-May-20

As expected, management sees minimal impact from COVID-19 and management focused on XBAR potential, and the FCC opening 6GHz for WiFI 6 in particular.  This does create non-mobile opportunity to roughly double shipments, but the pandemic prevented sampling.  Management hopes to proceed with that this quarter.  It is also still "hoping" to be cash flow break-even by the end of next year.  That means another capital raise, and if it is done in the same fashion as the last one, I have no interest in shares near the price that Murata paid.  I am switching up over to the CenturyLink call.

Resonant has reported its first quarter results:

• a loss of 18 cents per share misses by 5 cents
  
• from $544K of revenue, which misses by $136K

Management cites reducing annualized expense run-rate by ~$5M and having $29.6M on the balance sheet at the end of the quarter.  That should last it about a year, and I still don't like how the most recent capital raise was done.  However, I have to acknowledge that it worked out better than trying to raise funds now.  The conference call is at 4:30, and I will probably cut it short to switch to others.

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