RESN - Resonant trades high on Q4 FY20 revenue estimates

Resonant (RESN) traded 4% higher premarket after providing Q4 and FY20 estimates.FY20 revenues are expected to be a record $3.2M (+330% Y/Y); Q4 revenues are seen at $0.6M vs. $0.5M in year ago quarter.As of Dec.31, 2020, deferred revenues are expected to be $1.8M and will be recognized over the balance of the respective contracts.Resonant had cash and equivalents of ~$25M, including $11M of net proceeds from sales of equity under the company's previously announced at-the-market program.1Q21 are expected to be in-line with 4Q20 revenues while FY21 revenues are expected to significantly greater than revenues in FY20."Customer shipments of RF filters designed with our technology increased to 6.9M units in 4Q20, representing a Y/Y increase of over 200%. These Q4 unit volumes contributed to our previously announced milestone of Resonant's customers cumulatively shipping over 50M RF filters to-date," chairman & CEO George Holmes commented.

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Resonant trades high on Q4, FY20 revenue estimates