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Resonant, Westport and Lumen news +3

10:04 07-Jul-21


Resonant has issued a second quarter business update saying that customers shipped 17.5M filters using its design technology in the second quarter.  That's a big deal, as it represents more than double last quarter's total and quadrupling YoY.  However, revenue will be flat at $600K, which misses by $50K, and deferred revenue is not much better at $800K.  This is to be expected due to the company's preference for pre-paid royalties.  It also sold $7.8M worth of stock at the market during the quarter.  However, the market is now alive to this year seeing actual 5G deployments.  So this has been enough to lift RESN a few percent.

Westport announced that it is designing a high efficiency hydrogen internal combustion engine in collaboration with TUPY and AVL, with first testbed results due early next year.  I see this as only as validating my dismissal of early test results in the context of current investing.

Even worse is Lumen's collaboration with Microsoft on cloud to edge computing.  Though Microsoft has made great strides by embracing Linux, it has failed entirely in the phone market.  Thus, I don't see favoring a Google competitor as positive for LUMN shares.  Maybe Microsoft just needed some distraction after losing its Pentagon contract.