Resonant Inc. (RESN) Stock Rocketing Higher in Aftermarket as it is Acquired by Murata

Resonant Inc. (RESN) is changing the market dynamics for RF front-ends via disrupting the supply chain of RFFE. The company performs its tasks through the delivery of solutions that influence its WaveX design software tools portfolio, capitalize on the IP portfolio breadth, delivered through its services offerings. The company provides its clients with design efficiency, reduced marketing time, and lower unit costs.


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The price of RESN stock during regular trading on February 14, 2022, was $1.23 with a 0.81% decline. At last check in the aftermarket, the stock soared by 247.1%.

RESN: Events and Happenings

On February 14, 2022, RESN and Murata Electronics North America, Inc. updated about their entry into a definitive deal. Under the terms of the agreement, Murata will purchase 100% outstanding shares of the company for in cash $4.50 per share. The merger will let both the partners extend their offerings to additional markets and clientele.

On January 11, 2022, RESN was recognized as one of the three top innovators of BAW filter since 2020 start. The company had extended its IP system up to 415 filed or issued patents, 265 of which are associated with its XBAR technology for wireless networks. On January 06, 2022, RESN updated about its Executive management’s participation at the Virtual 24th Annual Needham Growth Conference on January 10-14, 2022.

On December 07, 2021, RESN informed about the presence of its management at the Virtual Oppenheimer 5G Summit on December 14, 2021. On November 24, 2021, RESN reported that its top management presented at the Virtual Benchmark Company 10th Annual Discovery One-on-One Investor Conference on December 2, 2021.

RESN: Key Financials

On November 10, 2021, RESN released its financial results for the third quarter ended September 30, 2021. Some of the key highlights are mentioned below.

Revenue

Revenues in Q3 2021 were reported to be $0.4 million compared to $0.61 million in the same quarter of 2020. The company reported a decrease in its revenue over the yearly period. The company missed the analysts’ estimates of revenue by $362 thousand.

EPS

Basic and diluted net loss per share in the third quarter of 2021 was $9.0 million or $0.14 compared to $6.1 million or $0.11 in the same period of 2020. The company observed an increase in net loss over the period of the year. The company’s EPS remained in line with the estimated EPS.

Conclusion

RESN stock is 55% and 83% down the past six months and full-year period respectively. The current aftermarket gain in the company’s stock is due to its acquisition announcement by Murata. The company will become a wholly-owned subsidiary of Murata after this acquisition deal. Also, the company’s earnings release date is coming near and analysts are estimating the revenue of $1.72 million against EPS of -$0.12.

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