Resonant Inc. Provides Preliminary Unaudited Financial and Operational Results for the Fourth Quarter and Full Year Ended December 31, 2020; Provides Financial Guidance for the First Quarter of 2021 and for the Full Year of 2021
February 09, 2021 at 04:48 pm EST
Resonant Inc. provided preliminary unaudited financial and operational results for the fourth quarter and full year ended December 31, 2020. Revenues for fiscal year 2020 are expected to be a record $3.2 million, an increase of over 330% compared to revenues of $0.7 million in 2019. Deferred revenues as of December 31, 2020 are expected to be $1.8 million and will be recognized over the balance of the respective contracts.
Revenues in the fourth quarter of 2020 are expected to be $0.6 million, compared to $0.5 million in the same year-ago quarter.
Revenues in the first quarter of 2021 are expected to be in-line with revenues in the fourth quarter of 2020.
For the full year of 2021, revenues are expected to be significantly greater than revenues in 2020.