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Resonant 2Q20 results +2
17:10 05-Aug-20
The Resonant conference call concluded prematurely with apparent
technical difficulties from the operator after just one question.
Management projected that revenue growth will accelerate this
quarter and throughout the year, but no amounts were provided. It
also expects to achieve its first Murata milestone by year end.
The analyst that did get to ask a question seemed not to know what
this was, but as discussed
here, this is simply revenue recognition for the prepaid
unit royalties. A year-end projection, when the first was
originally expected around now is not particularly encouraging.
On WiFi 6, management simply says that it is being choosy on its
opportunities, and believes it has the only solution on the market
that can work with a single filter. As ever, the technology
sounds impressive, but management has shown that it is not to be
trusted. It may well cut a deal, as suggested by its emphasis on
the software platform, but RESN is a gamble otherwise. I'll
switch over to the CenturyLink call after all now.
Resonant has published its second quarter results:
- a loss of 10 cents per share beats by two cents
- from $604K of revenue, which beats by $64K
The company burned a little over $7M for the quarter and has a little under $24M on the balance sheet. The conference call is beginning and I will look forward to any guidance that is available, but I suspect another capital raise will be needed.