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Resonant 3Q21 results ?4
The Resonant conference call has just concluded, and two points have lead me to change my ranking of event:
- Management guides 4Q21 to $600K and $8M of deferred revenue to be recognized over the next 2 years or so.
- It also expects to sign non-mobile Tier 1 deal before year end.
Apparently the market is as nonplussed as I am, as RESN hasn't moved much yet. However, this does seem to be enough to keep hope alive. Ultimately it remains a question of whether or not one believes the claims of Resonant having the only tech that satisfies the requirements for new 5G bands, particularly from 7-12GHz. Management does still vaguely affirm break even next year; we'll see if terms of the expected new deal(s) are clearer than those with Murata.
Resonant has published its third quarter results:
- a loss of 11 cents per share misses by a penny
- $400K of revenue, which misses by $387K
There's $28.1M left on the balance sheet, $13.1M of which is from the sale of stock and the up front payment from the expanded agreement with Murata. The conference call is 4:30. I'll listen to see if management has some other redemption to offer.