NasdaqCM:RESN

Stock Analysis Report

Executive Summary

Resonant Inc., a late-stage development company, designs and develops filter designs for radio frequency (RF) front-ends used in the mobile device industry in the United States.

Snowflake

Fundamentals

Adequate balance sheet with limited growth.

Share Price & News

How has Resonant's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-8.4%

RESN

2.6%

US Communications

0.07%

US Market


1 Year Return

-24.3%

RESN

3.2%

US Communications

8.9%

US Market

Return vs Industry: RESN underperformed the US Communications industry which returned 3.2% over the past year.

Return vs Market: RESN underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

RESNIndustryMarket
7 Day-8.4%2.6%0.07%
30 Day-18.4%-2.8%-0.3%
90 Day0%-14.1%-1.6%
1 Year-24.3%-24.3%5.6%3.2%11.3%8.9%
3 Year-50.3%-50.3%53.8%44.0%46.3%36.8%
5 Year-61.9%-61.9%94.0%72.9%62.1%44.3%

Price Volatility Vs. Market

How volatile is Resonant's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Resonant undervalued compared to its fair value and its price relative to the market?

5.36x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate RESN's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate RESN's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: RESN is unprofitable, so we can't compare its PE Ratio to the Communications industry average.

PE vs Market: RESN is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate RESN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: RESN is overvalued based on its PB Ratio (5.4x) compared to the US Communications industry average (1.8x).


Next Steps

Future Growth

How is Resonant forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

16.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RESN is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: RESN is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: RESN is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: RESN's revenue (198.7% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: RESN's revenue (198.7% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if RESN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Resonant performed over the past 5 years?

-23.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: RESN is unprofitable, and losses have increased over the past 5 years at a rate of -23.7% per year.

Accelerating Growth: Unable to compare RESN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: RESN is unprofitable, making it difficult to compare its past year earnings growth to the Communications industry (23.8%).


Return on Equity

High ROE: RESN has a negative Return on Equity (-228.55%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: RESN is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: RESN is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Resonant's financial position?


Financial Position Analysis

Short Term Liabilities: RESN's short term assets ($11.0M) exceeds its short term liabilities ($3.5M)

Long Term Liabilities: RESN's short term assets (11.0M) exceeds its long term liabilities (2.4M)


Debt to Equity History and Analysis

Debt Level: RESN is debt free.

Reducing Debt: RESN had no debt 5 years ago.


Balance Sheet

Inventory Level: RESN has a high level of physical assets or inventory.

Debt Coverage by Assets: RESN's debt is covered by short term assets (assets are 24681977757804148.731740x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: RESN has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: RESN has less than a year of cash runway if free cash flow continues to reduce at historical rates of -26.1% each year


Next Steps

Dividend

What is Resonant's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate RESN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate RESN's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if RESN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if RESN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of RESN's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Resonant's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

George Holmes (56yo)

2.8yrs

Tenure

US$815,752

Compensation

Mr. George B. Holmes has been the Chief Executive Officer of Resonant Inc. since January 10, 2017 and also serves as its Chairman of the Board since June 11, 2019. Mr. Holmes has been Chief Commercial Offi ...


CEO Compensation Analysis

Compensation vs. Market: George's total compensation ($USD815.75K) is about average for companies of similar size in the US market ($USD509.30K).

Compensation vs Earnings: George's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.8yrs

Average Tenure

62yo

Average Age

Experienced Management: RESN's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

1.3yrs

Average Tenure

56yo

Average Age

Experienced Board: RESN's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$1,001,88013 Aug 19
Park City Capital, LLC
EntityCompany
Shares396,000
Max PriceUS$2.53
BuyUS$5,18019 Dec 18
Joshua Jacobs
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,500
Max PriceUS$1.48
BuyUS$96,46519 Dec 18
John Major
EntityIndividual
Shares66,758
Max PriceUS$1.45

Ownership Breakdown


Management Team

  • Barry Waxman (65yo)

    Vice President of Sales & Marketing

    • Tenure: 3.8yrs
  • Marty McDermut (68yo)

    CFO & Secretary

    • Tenure: 0.9yrs
  • Robert Hammond (71yo)

    Co-Founder & CTO

    • Tenure: 0yrs
    • Compensation: US$504.40k
  • Mike Eddy (56yo)

    Vice President of Corporate Business Development & Marketing

    • Tenure: 2.6yrs
  • Neal Fenzi (59yo)

    Co-Founder & Executive VP of Engineering

    • Tenure: 0yrs
    • Compensation: US$487.55k
  • George Holmes (56yo)

    Chairman & CEO

    • Tenure: 2.8yrs
    • Compensation: US$815.75k
  • Lisa Wolf

    Vice President of Finance

    • Tenure: 3.8yrs

Board Members

  • George Holmes (56yo)

    Chairman & CEO

    • Tenure: 2.8yrs
    • Compensation: US$815.75k
  • Jean Rankin (60yo)

    Independent Director

    • Tenure: 2.3yrs
    • Compensation: US$100.00k
  • Jack Jacobs (74yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: US$156.25k
  • Alan Howe (58yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: US$156.25k
  • Michael Fox (42yo)

    Lead Independent Director

    • Tenure: 0.3yrs
    • Compensation: US$100.00k
  • Chris Conlin

    Member of Advisory Board

    • Tenure: 4.2yrs
  • Josh Jacobs (49yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: US$156.25k
  • Sean Curry

    Member of Advisory Board

    • Tenure: 4.2yrs
  • Bob Tirva (52yo)

    Independent Director

    • Tenure: 1yrs
    • Compensation: US$85.37k
  • Ruben Caballero

    Director

    • Tenure: 0.2yrs

Company Information

Resonant Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Resonant Inc.
  • Ticker: RESN
  • Exchange: NasdaqCM
  • Founded: 2012
  • Industry: Communications Equipment
  • Sector: Tech
  • Market Cap: US$68.361m
  • Shares outstanding: 29.72m
  • Website: https://www.resonant.com

Number of Employees


Location

  • Resonant Inc.
  • 175 Cremona Drive
  • Suite 200
  • Goleta
  • California
  • 93117
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RESNNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDMay 2014
2EKDB (Deutsche Boerse AG)YesCommon StockDEEURMay 2014

Biography

Resonant Inc., a late-stage development company, designs and develops filter designs for radio frequency (RF) front-ends used in the mobile device industry in the United States. It uses Infinite Synthesize ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 00:36
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.