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Resonant 1Q20 results -3
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.