Resonant (RESN) 10-Q 13 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 11, 2015
Document and Entity Information
Entity Registrant Name	Resonant Inc
Entity Central Index Key	1,579,910
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		7,167,280

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 1,782	$ 5,803
Prepaid expenses and other current assets	221	106
Investments held-to-maturity	8,000	7,999
TOTAL CURRENT ASSETS	10,003	13,908
PROPERTY AND EQUIPMENT
Fixed assets	1,416	1,249
Less: Accumulated depreciation and amortization	(423)	(208)
PROPERTY AND EQUIPMENT, NET	993	1,041
NONCURRENT ASSETS
Patents and domain names, net	653	500
Restricted cash	100	0
Other assets	15	15
TOTAL NONCURRENT ASSETS	768	515
TOTAL ASSETS	11,764	15,464
CURRENT LIABILITIES
Accounts payable	268	223
Accrued expenses	48	146
Accrued salaries and payroll related expenses	424	315
Deferred rent, current portion	35	36
TOTAL CURRENT LIABILITIES	775	720
LONG-TERM LIABILITIES
Deferred rent	37	54
TOTAL LIABILITIES	812	774
Commitments and contingencies (Note 7)	0	0
STOCKHOLDERS’ EQUITY
Common stock, $0.001 par value, 47,000,000 authorized and 6,931,984 outstanding as of December 31, 2014, and 7,162,746 outstanding as of June 30, 2015	7	7
Preferred stock, $0.001 par value, 3,000,000 authorized and none outstanding as of December 31, 2014 and June 30, 2015	0	0
Additional paid-in capital	36,515	35,880
Accumulated deficit	(25,570)	(21,197)
TOTAL STOCKHOLDERS’ EQUITY	10,952	14,690
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 11,764	$ 15,464

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	47,000,000	47,000,000
Common stock, shares outstanding	7,162,746	6,931,984
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
REVENUES	$ 0	$ 0	$ 0	$ 0
OPERATING EXPENSES
Research and development expenses	1,094,000	969,000	2,091,000	1,404,000
General and administrative expenses	943,000	455,000	2,070,000	977,000
Depreciation and amortization	116,000	62,000	227,000	75,000
TOTAL OPERATING EXPENSES	2,153,000	1,486,000	4,388,000	2,456,000
OPERATING LOSS	(2,153,000)	(1,486,000)	(4,388,000)	(2,456,000)
OTHER INCOME (EXPENSE)
Interest and investment income	8,000	2,000	16,000	2,000
Interest expense	0	(2,099,000)	0	(2,808,000)
Fair value adjustments to warrant and derivative liabilities	0	252,000	0	(2,015,000)
Other income	0	1,164,000		1,164,000
TOTAL OTHER INCOME (EXPENSE)	8,000	(681,000)	16,000	(3,657,000)
LOSS BEFORE INCOME TAXES	(2,145,000)	(2,167,000)	(4,372,000)	(6,113,000)
Provision for income taxes	0	0	(1,000)	(1,000)
NET LOSS	$ (2,145,000)	$ (2,167,000)	$ (4,373,000)	$ (6,114,000)
NET LOSS PER SHARE - BASIC AND DILUTED (in dollars per share)	$ (0.31)	$ (0.69)	$ (0.63)	$ (2.95)
Weighted average shares outstanding-basic and diluted (in shares)	7,160,890	3,136,955	7,119,569	2,074,380

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance (in shares) at Dec. 31, 2014	6,931,984	6,931,984
Beginning Balance at Dec. 31, 2014	$ 14,690	$ 7	$ 35,880	$ (21,197)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock for compensation (in shares)		22,578
Stock-based compensation	$ 680		680
Exercise of warrants, cashless (in shares)	208,184	208,184
Tax withholding on net issuance of common stock for-compensation	$ (45)		(45)
Net loss	$ (4,373)			(4,373)
Balance (in shares) at Jun. 30, 2015	7,162,746	7,162,746
Ending Balance at Jun. 30, 2015	$ 10,952	$ 7	$ 36,515	$ (25,570)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (4,373,000)	$ (6,114,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	227,000	75,000
Amortization of deferred finance costs	0	2,404,000
Stock-based compensation	680,000	501,000
Non-cash investment income	(11,000)	0
Gain on extinguishment of derivative liability	0	(1,164,000)
Fair value adjustments to warrant and derivative liabilities	0	2,015,000
Changes in assets and liabilities:
Prepaids and other current assets	(115,000)	102,000
Accounts payable	45,000	548,000
Accrued expenses	(98,000)	(139,000)
Accrued compensation	109,000	85,000
Deferred rent	(18,000)	64,000
Net cash used in operating activities	(3,554,000)	(1,623,000)
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(168,000)	(540,000)
Expenditures for patents and domain names	(165,000)	(65,000)
Purchase of restricted cash investment	(100,000)	0
Sale of investment held-to-maturity	10,000,000	0
Purchase of investments held-to-maturity	(9,989,000)	0
Net cash used in investing activities	(422,000)	(605,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock from the IPO	0	18,630,000
Deferred IPO cost	$ 0	(2,388,000)
Proceeds from issuance of warrants		1,000
Payment of tax withholdings on net issuance of common stock for compensation	$ (45,000)	0
Net cash provided by (used in) financing activities	(45,000)	16,243,000
NET INCREASE (DECREASE) IN CASH	(4,021,000)	14,015,000
CASH — Beginning of period	5,803,000	3,339,000
CASH — End of period	1,782,000	17,354,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest	0	404,000
Taxes Paid	1,000	1,000
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Conversion of senior note	0	7,000,000
Conversion of subordinated note	0	2,400,000
Extinguishment of derivative liability	0	5,526,000
Reclassification warrant liabilities to additional paid-in capital	$ 0	$ 3,658,000

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	ORGANIZATION AND DESCRIPTION OF BUSINESS Overview Resonant Inc. is a late-stage development company located in Santa Barbara, California. The condensed consolidated statements of operations presented in our condensed consolidated financial statements represent the activities of Resonant Inc. for the three and six months ended June 30, 2014 and June 30, 2015 . The condensed consolidated balance sheets presented in the consolidated financial statements represent the activities of Resonant Inc. as of December 31, 2014 and June 30, 2015 . We are creating innovative filter designs for radio frequency, or RF, front-ends for the mobile device industry. The RF front-end is the circuitry in a mobile device responsible for analog signal processing and is located between the device’s antenna and its digital baseband. We use a fundamentally new technology called Infinite Synthesized Networks TM , or ISN TM , to configure and connect resonators, the building blocks of RF filters. Filters are a critical component of the RF front-end used to select desired radio frequency signals and reject unwanted signals. We are using ISN to develop new classes of filter designs. We believe licensing our designs is the most direct and effective means of delivering our solutions to the market. Our target customers make part or all of the RF front-end. We intend to retain ownership of our designs, and we expect to be compensated through license fees and royalties based on sales of RF front-end modules that incorporate our designs. We currently do not intend to manufacture or sell any physical products or operate as a contract design company developing designs for a fee. We completed our first single-band filter design (a duplexer) for band 3 in the first quarter of 2015. This project has been our principal focus from inception through the first quarter of 2015, when we started a second project. We developed the band 3 duplexer using commercial product specifications provided under a development agreement with a prospective customer. The prospective customer terminated the formal development agreement in the first quarter of 2015 and informed us that our design did not meet all the specifications. We continued to work on this project directly with the filter manufacturer, or fabrication facility or fab, and have since completed the first generation of this band 3 filter. We consider the band 3 filter design to have competitive cost, size and performance. Additionally, in July 2015 we completed the second generation of this band 3 filter at a reduced cost and size and with improved performance. We are collaborating with the filter manufacturer to continue to submit the second generation band 3 filter design for consideration by our prospective customers and we are providing the fab with manufactured parts for testing. In the first quarter of 2015, we started a development project with a second customer, a filter manufacturer, for the design of our next single-band RF filter, another duplexer. This duplexer is for a different band than our first duplexer. We have received the first set of manufactured parts of our design for review and testing, following which we expect revisions to the design prior to its completion. Our objective is to develop a new duplexer design for this second customer to market to RF front-end manufacturers and mobile device OEMs. The second customer has not committed to use the resulting design and terms of a license have not been finalized. We believe that our ISN technology will also enable us to produce tunable filters. These tunable filters are electronically programmed in real time for different RF frequency bands so that one filter can do the work of many and therefore replace multiple filters and significantly lower the cost and size of RF front-ends. Several prospective customers have expressed interest and we are now developing a prototype tunable filter to demonstrate our value proposition. We expect to have demonstration parts available for assessment by these prospective customers with the goal of securing a lead customer thereafter. We were founded as Resonant LLC on May 29, 2012 (our inception date). We commenced business on July 6, 2012 with initial contributions from our founders and Superconductor Technologies Inc., or STI. The founders contributed $200,000 and agreed to work full-time without pay until we secured adequate funding. STI contributed a patent portfolio, software, equipment, temporary office space and an early version of the development agreement with our first customer. The founders loaned us an aggregate of $200,000 during the first quarter of 2013, and we issued a series of warrants to the founders in connection with these loans. We refer to the founder loans as Bridge Loans and the founder warrants as Bridge Loan Warrants. We repaid the Bridge Loans in the second quarter of 2013. We changed our form of ownership from a limited liability company to a corporation in an exchange transaction on June 17, 2013. The founders exchanged all of their units and warrants of Resonant LLC for common stock and warrants of Resonant Inc. STI exchanged all of its units of Resonant LLC for a $2.4 million subordinated convertible note of Resonant Inc., or Subordinated Convertible Note. The Subordinated Convertible Note was scheduled to mature on September 17, 2014, was interest free, was secured by all of our assets and was subordinated to our senior convertible notes. This note was converted into common stock in our initial public offering, or IPO. We closed our first financing on June 17, 2013. We issued $7.0 million of Senior Convertible Notes in a private placement. The notes were to mature on September 17, 2014, bore interest at 6.0% per annum, were secured by all of our assets and would automatically convert into 2,087,667 shares of our common stock upon consummation of a qualified offering. Interest was payable in cash or shares of common stock. We paid a placement agent a commission of $700,000 and issued the agent warrants to purchase 208,763 shares of our common stock at an exercise price of $3.35 per share. We also issued the placement agent a warrant to purchase 222,222 shares of our common stock for business consulting services at an exercise price of $0.01 per share. These notes were converted into common stock in our IPO. Initial Public Offering We closed our IPO, of which we issued 3,105,000 shares of common stock (which includes the exercise in full by the underwriter of its over-allotment option) at a price of $6.00 per share, on June 3, 2014. We received aggregate net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, of approximately $16.2 million . Our common stock commenced trading on the Nasdaq Capital Market under the symbol “RESN” on May 29, 2014, or IPO Date. The Securities and Exchange Commission declared effective a registration statement relating to these securities on May 28, 2014. MDB Capital Group, LLC, or MDB, acted as the sole underwriter for our IPO. Simultaneous with the funding of the IPO, we issued the underwriter a five -year warrant to purchase 310,500 shares of common stock at an exercise price of $7.50 per share, which we refer to as the Underwriting Warrant. The warrant was not exercisable until November 24, 2014 ( 180 -days from the date of the underwriting agreement). Our Senior Convertible Notes automatically converted into 2,087,667 shares of common stock effective upon the completion of the IPO. We paid in cash the accrued interest of $404,000 . Similarly, our Subordinated Convertible Note automatically converted into 700,000 shares of common stock. There was no accrued interest on this note. The shares issued on conversion of the Senior Convertible Notes were subject to a 180 -day lockup which expired November 24, 2014, and the shares issued on conversion of the Subordinated Convertible Note were subject to a 12 -month lockup which expired May 28, 2015. Capital Resources and Liquidity We have earned no revenue since inception, and our operations have been funded with initial capital contributions and proceeds from the sale of equity securities and debt. We have incurred accumulated losses at December 31, 2014 and June 30, 2015 , of $21.2 million and $25.6 million , respectively, and cash and cash equivalents of $5.8 million and $1.8 million , respectively. Additionally, as of December 31, 2014 and June 30, 2015 , we had $8.0 million and $8.0 million in short-term investments, respectively. These losses are primarily the result of research and development costs associated with commercializing our technology, combined with start-up, financing and public company costs. We expect to continue to incur substantial costs for commercialization of our technology on a continuous basis because our business model involves developing and licensing custom filter designs. Our condensed consolidated financial statements contemplate the continuation of our business as a going concern. However, we are subject to the risks and uncertainties associated with a new business. We do not yet have the ability to earn revenue, we have incurred significant losses from operations since inception and our operations have been funded with initial capital contributions, proceeds from the sale of equity securities and debt. Our principal sources of liquidity as of June 30, 2015 consist of existing cash balances and investments of $9.8 million . We have determined that additional capital from the sale of equity securities or the incurrence of indebtedness and, ultimately, the achievement of significant operating revenues will be required for us to continue operations through 2016 and beyond. We have had discussions with potential customers that may provide funding through debt and/or equity instruments or the licensing of future filter designs. There can be no assurance that additional financing will be available to us from potential customers or others on acceptable terms or at all. Additionally, if we issue additional equity securities to raise funds, whether to potential customers or other investors, the ownership percentage of our existing stockholders would be reduced. New investors may demand rights, preferences or privileges senior to those of existing holders of common stock. If we cannot raise needed funds, we might be forced to make substantial reductions in our operating expenses, which could adversely affect our ability to implement our business plan and ultimately our viability as a company. These condensed financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. The accompanying condensed consolidated financial statements at June 30, 2015 and for the three and six months ended June 30, 2014 and 2015 are unaudited, but include all adjustments, consisting of normal recurring entries, that management believes to be necessary for a fair presentation of the periods presented. Prior period figures have been reclassified, wherever necessary, to conform to current presentation. Interim results are not necessarily indicative of results for a full year. Balance sheet amounts as of December 31, 2014 have been derived from our audited consolidated financial statements as of that date. The condensed consolidated financial statements included herein have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission, or SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, have been condensed or omitted pursuant to such rules and regulations. The financial statements should be read in conjunction with our audited consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2014 . Our operating results will fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not be relied upon as predictive of the results in future periods.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates —The accompanying condensed financial statements have been prepared in accordance with U.S. GAAP. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Significant estimates made in preparing these financial statements include (a) assumptions to calculate the fair values of financial instruments, derivatives, warrants and equity instruments and other liabilities and the deferred tax asset valuation allowance and (b) the useful lives for depreciable and amortizable assets. Actual results could differ from those estimates. In the opinion of management, all adjustments, including normal recurring accruals considered necessary for a fair presentation, have been included. Restricted Cash —Restricted cash at June 30, 2015 represents cash held within a certificate of deposit with a financial institution which serves as collateral for our corporate credit cards. The restriction on the cash will lapse in conjunction with the expiration of the use of the corporate credit cards. There was no restricted cash as of December 31, 2014 . Investments —Securities held-to-maturity: Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each statement of financial position date. Investment/Debt securities are classified as held-to-maturity when we have the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in investment income. Interest on securities classified as held-to-maturity is included in investment income. With respect to debt securities, when the fair value of a debt security classified as held-to-maturity or available for sale is less than its amortized cost, management assesses whether or not: (i) we have the intent to sell the security or (ii) it is more likely than not that we will be required to sell the security before its anticipated recovery. If either of these conditions is met, we must recognize an other-than-temporary impairment earnings for the difference between the debt security’s amortized cost basis and its fair value, and includes such amounts in net securities gains (losses). For debt securities that do not meet the above criteria and are not expected to be recovered at the amortized cost basis, the security is considered other-than-temporarily impaired. For these debt securities, we separate the total impairment into the credit loss component and the amount of the loss related to other factors. In order to determine the amount of the credit loss for a debt security, we calculate the recovery value by performing a discounted cash flow analysis based on the current cash flows and future cash flows management expects to recover. The discount rate is the effective interest rate implicit in the underlying debt security. The amount of the total other-than-temporary impairment related to credit loss is recognized in earnings and is included in net securities gains (losses). The amount of the total other-than-temporary impairment related to other factors is recognized in other comprehensive income. For debt securities that have recognized as other-than-temporary impairment through earnings, if through subsequent evaluation there is a significant increase in the cash flow expected, the difference between the amortized cost basis and the cash flows expected to be collected is accreted as interest income. From January through June 2015, we invested in debt securities and federally insured certificates of deposit that we have classified as held-to-maturity as we currently meet the criteria for this investment classification. As of June 30, 2015 , the amortized cost value is $8.0 million with an unrealized loss of $1,000 and a fair value of $8.0 million . The investments mature in various increments from August, 2015 through February, 2016. Investments representing $5.0 million are foreign debt securities of which $2.0 million matures on each of August 3, 2015 and October 22, 2015, and $1.0 million matures on August 5, 2015. The remaining $3.0 million in held-to-maturity investments are in federally insured certificates of deposit that mature at various amounts from February 5, 2016 through February 25, 2016. We have not recognized an other-than-temporary impairment gain or loss or a comprehensive gain or loss to-date. We have recorded investment income of $8,000 and $16,000 for the three and six months ended June 30, 2015 , respectively, associated with these investments. There were no investment securities as of June 30, 2014 . Fair Value of Financial Instruments —We measure certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The carrying amounts of our financial instruments, including cash equivalents, accounts payable, and accrued liabilities, approximate fair value due to their short maturities. The carrying amount of our warrant liabilities and our derivative liability related to the Senior Convertible Notes were marked to market each reporting date until the warrants and derivative liability were settled. Prior to the IPO Date, the fair value of the financing warrant liability and derivative liability ( see Note 3 and Note 4 ) were estimated using a Monte Carlo option-pricing model, which takes into consideration the market values of comparable public companies, considering among other factors, the use of multiples of earnings, and adjusted to reflect the restrictions on the ability of our securities to trade in an active market. As of the IPO Date, the fair value of the remaining warrants and the financing warrant liability and derivative liability, were estimated using a Black-Scholes option valuation technique as it embodies all of the requisite assumptions (including trading volatility, remaining term to maturity, market price, strike price, and risk free rates) necessary to fair value these instruments. Estimates of expected term were based on the estimated time to expiration. The risk-free interest rate was based on the U.S. Treasury yield for a term consistent with the estimated expected term. We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future. Consequently, we use an expected dividend yield of zero . Our expected volatility was derived from the historical volatilities of several public companies in similar industries because we have limited information on the volatility of the price of our common stock because we have no trading history. When making the selections of our industry peer companies to be used in the volatility calculation, we consider operational area, size, business model, industry and the business of potential comparable companies. These historical volatilities are weighted based on certain qualitative factors and combined to produce a single volatility factor. All of the warrant liabilities and the derivative liability are valued using level 3 inputs ( see Note 6 for the range of assumptions used ). Prior to the IPO Date, the determination of the value of our common stock, and for purposes of establishing the value of the warrants and derivatives related to the bridge financing, the senior convertible notes, the subordinated convertible notes and the consulting warrants, management considered several factors and the probability of achieving each one of them. The significant factors were (1) securing adequate funding to complete the single-band commercial surface acoustic wave, or SAW, duplexer design under the terms of the development agreement with our first customer; (2) developing a working duplexer product that meets the specifications of our first customer; and (3) our first customer exercising its licensing option if the duplexer product met its specifications. The probabilities for achieving each of these factors changed during the periods from January 31, 2013 to June 16, 2013 and December 31, 2013. These probabilities were affected by our ability to hire technical personnel to develop the technology and design the product, establish a management team to develop a business plan, secure financing, execute the business plan, and interact with our first customer to achieve the milestones contained in the development agreement with them. As we made progress in each of these areas over the period from January 31, 2013 through December 31, 2013 the probability elements in each of these factors changed and increased. These increases resulted in higher valuations of our common stock and accordingly the values of the warrants and derivatives at each of these periods. Following the IPO Date, we used the current market value of our common stock to assist in determining the value of the warrants and stock options using the Black-Scholes option valuation model. Cash and Cash Equivalents —We consider all liquid instruments purchased with a maturity of three months or less to be cash equivalents. Concentration of Credit Risk —We maintain checking accounts at one financial institution. These accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account. Management believes we are not exposed to significant credit risk due to the financial position of the depository institution in which these deposits are held. Property and Equipment —Property and equipment consists of leasehold improvements associated with our new corporate office, software purchased during the normal course of business, computer equipment and office furniture and fixtures, all of which are recorded at cost. Depreciation and amortization is recorded using the straight-line method over the respective useful lives of the assets ranging from three to five years. Long-lived assets, including software are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable. Intangible Assets Subject to Amortization —At December 31, 2014 and June 30, 2015 , intangible assets subject to amortization include patents and a domain name purchased for use in operations. Intangible assets are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable. Deferred Finance Costs —Costs relating to our senior convertible note and subordinated convertible note financings were capitalized and amortized over the term of the related debt using the effective interest method. Due to the conversion of these notes to common stock in connection with the IPO, the unamortized deferred finance costs of $358,000 were fully expensed as of the IPO Date. Amortization of deferred financing costs, including the write-off due to the conversion, were charged to interest expense and totaled $0 and $51,000 for the three and six months ended June 30, 2014 , respectively. There were no deferred financing costs for the three and six months ended June 30, 2015 . Research and Development —Costs and expenses that can be clearly identified as research and development are charged to expense as incurred in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, Topic 730-10, Research and Development . Stock-Based Compensation —We account for employee stock options in accordance with ASC Topic 718, Compensation-Stock Compensation . For stock options issued to employees and directors we use the Black-Scholes option valuation model for estimating fair value at the date of grant. For stock options issued for services rendered by non-employees, we recognize compensation expense in accordance with the requirements of ASC 505-50 , Equity , or ASC 505-50, as amended. Non-employee option grants that do not vest immediately upon grant are recorded as an expense over the vesting period. At the end of each financial reporting period prior to performance, the value of these options, as calculated using the Black-Scholes option valuation model, is determined, and compensation expense recognized or recovered during the period is adjusted accordingly. Since the fair market value of options granted to non-employees is subject to change in the future, the amount of the future compensation expense is subject to adjustment until the common stock options or warrants are fully vested. We account for restricted stock units issued to employees at fair value, based on the market price of our stock on the date of grant, net of estimated forfeitures. Compensation expense is recognized for the portion of the award that is ultimately expected to vest over the period during which the recipient renders the required services to the Company generally using the straight-line single option method. The fair value of non-employee restricted stock units awarded are remeasured as the awards vest, and the resulting increase or decrease in fair value, if any, is recognized as an increase or decrease to compensation expense in the period the related services are rendered. Earnings Per Share, or EPS —EPS is computed in accordance with ASC Topic 260, Earnings per Share , and is calculated using the weighted average number of common shares outstanding during each period. Diluted EPS assumes the conversion, exercise or issuance of all potential common stock equivalents unless the effect is to reduce a loss or increase the income per share. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method), the exercise and/or conversion of our convertible notes and warrants (using the if-converted method). The following table presents the number of shares excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods below: Six Months Ended June 30, 2014 2015 Common stock warrants 991,484 804,436 Common stock options 376,500 560,000 Total shares excluded from net loss per share attributable to common stockholders 1,367,984 1,364,436 Derivative Instruments —We account for free-standing derivative instruments and hybrid instruments that contain embedded derivative features in accordance with ASC Topic 815, Accounting for Derivative Instruments and Hedging Activities , or ASC 815, as well as related interpretations of this topic. In accordance with this topic, derivative instruments and hybrid instruments are recognized as either assets or liabilities in the balance sheet and are measured at fair values with gains or losses recognized in earnings. Embedded derivatives that are not clearly and closely related to the host contract are bifurcated and are recognized at fair value with changes in fair value recognized as either a gain or loss in earnings. We determined the fair value of derivative instruments and hybrid instruments based on available market data using appropriate valuation models, giving consideration to all of the rights and obligations of each instrument. We estimated the fair values of derivative instruments and hybrid instruments using various techniques (and combinations thereof) that are considered to be consistent with the objective of measuring fair values. In selecting the appropriate technique, we considered, among other factors, the nature of the instrument, the market risks that it embodies and the expected means of settlement. For less complex instruments, such as free-standing warrants, we generally used the Black-Scholes option valuation model, adjusted for the effect of dilution, because it embodies all of the requisite assumptions (including trading volatility, estimated terms, dilution and risk free rates) necessary to fair value these instruments. Estimating fair values of derivative financial instruments requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. Under ASC 815, increases in the trading price of our common stock and increases in fair value during a given financial quarter result in the application of non-cash derivative expense. Conversely, decreases in the trading price of our common stock and decreases in fair value during a given financial quarter would result in the application of non-cash derivative income. In situations where the Black-Scholes option valuation model was not deemed appropriate, we used a Monte Carlo option-pricing model to determine the fair value of derivative instruments. Income Taxes —We account for income taxes in accordance with ASC Topic 740, Income Taxes , or ASC 740, which requires the recognition of deferred tax assets and liabilities for the future consequences of events that have been recognized in our condensed consolidated financial statements or tax returns. The measurement of the deferred items is based on enacted tax laws. In the event the future consequences of differences between financial reporting bases and the tax bases of our assets and liabilities result in a deferred tax asset, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such asset. A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion or the entire deferred tax asset will not be realized. As part of the process of preparing our consolidated financial statements, we are required to estimate our income tax expense in each of the jurisdictions in which we operate. We also assess temporary differences resulting from differing treatment of items for tax and accounting differences. We record a valuation allowance to reduce the deferred tax assets to the amount of future tax benefit that is more likely than not to be realized. For the period when we were organized as a limited liability company, we were treated as a partnership for federal and state income tax purposes under the entity classification domestic default rules. As of December 31, 2014 and June 30, 2015 , no liability for unrecognized tax benefits was required to be reported. We recognize interest and penalties related to income tax matters in income taxes, and there were none for the three and six months ended June 30, 2014 and June 30, 2015 , respectively. We have filed, or are in the process of filing, tax returns that are subject to audit by the respective tax authorities. Although the ultimate outcome would be unknown, we believe that any adjustments that may result from tax return audits are not likely to have a material, adverse effect on our condensed consolidated results of operations, financial position or cash flows. Recent Accounting Pronouncements We have reviewed all of the recent accounting pronouncements and have determined that they have not or will not have a material impact on our condensed consolidated financial statements, or do not apply to our operations.

BRIDGE LOANS, MEMBER LOAN AND C

BRIDGE LOANS, MEMBER LOAN AND CONVERTIBLE DEBT	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
BRIDGE LOANS, MEMBER LOAN AND CONVERTIBLE DEBT	BRIDGE LOANS, MEMBER LOAN AND CONVERTIBLE DEBT Senior Convertible Note We entered into a securities purchase agreement on June 17, 2013 for the sale to multiple investors of $7.0 million principal amount of senior secured convertible promissory notes, which we refer to as Senior Convertible Notes. MDB served as placement agent in this financing. We closed the sale on the same day and issued $7.0 million in principal amount of Senior Convertible Notes. We also paid $700,000 to MDB as a placement agent fee. The net cash proceeds were $6.3 million . We also issued to MDB a warrant to purchase shares of our common stock as consideration for its financing services, and another warrant to purchase shares of our common stock as consideration for business consulting services. The Senior Convertible Notes bore interest at a 6% per annum and were scheduled to mature on September 17, 2014 unless converted earlier. The conversion feature included in the terms of the Senior Convertible Notes was determined to be a derivative liability that we bifurcated for accounting purposes. We measured the derivative liability at fair value at the issue date of Senior Convertible Notes based on a Monte Carlo option-pricing model and determined the value to be $1.9 million . The derivative liability was recorded with a corresponding debit to debt discount that was amortized as interest expense using the effective interest method over the life of the instrument. At the time of issuance, the Senior Convertible Notes and derivative liability were recorded on the balance sheet as a long-term note because the notes mature on September 17, 2014 (greater than one year). Upon a Qualified IPO, or other event that results in the conversion of the notes into common stock, a portion of the carrying value of the derivative liability would be accounted for as an extinguishment of debt and any remaining unamortized debt discount would be expensed at such date. At December 31, 2013, the Monte Carlo option-pricing model used the following assumptions to estimate fair value: equity value of $20.0 million , different conversion prices for different scenarios, time to maturity of 9 - 15 months under the scenarios based on the expected date of a Qualified IPO, volatility of 102.1% and risk free rate of 0.19% . As noted above, in connection with the Senior Convertible Notes and as a result of the warrants issued to MDB as consideration for its placement agent services, we determined that an additional discount to the debt should be recorded in the amount of $300,000 , and we were amortizing this amount using the effective interest method over the life of the instrument. The Senior Convertible Notes did not include any financial covenants. Upon the completion of the IPO, which was considered a Qualified IPO under the Senior Convertible Note agreement, the Senior Convertible Notes were converted into 2,087,667 shares of common stock as of the date of the IPO and unpaid interest of $404,000 was paid from the proceeds of the IPO. Additionally, the unamortized debt discount of $780,000 was fully amortized to interest expense for the three and six months ended June 30, 2014. Interest expense, excluding the unamortized debt discount write-off, was $289,000 and $728,000 for the three and six months ended June 30, 2014 , respectively. Due to the completion of the IPO and no new debt taken by us, there was no interest expense for the three and six months ended June 30, 2015 . Subordinated Convertible Note On June 17, 2013, we issued to STI a subordinated senior secured convertible note in the principal amount $2.4 million , which we refer to as the Subordinated Convertible Note, as consideration for our acquisition from STI of its 300,000 Class C units of Resonant LLC and 100 shares of our common stock. The Subordinated Convertible Note did not bear interest and was scheduled to mature on September 17, 2014 unless converted earlier. The Subordinated Convertible Note was non-interest bearing. We considered the effective interest rate of the Subordinated Convertible Note to be at least 11.8% per annum as the Subordinated Convertible Note was subordinated to the Senior Convertible Notes and had greater inherent risk, and, therefore, it should carry a higher interest rate than that of the Senior Convertible Notes. We calculated a discount to the face value of the Subordinated Convertible Note of $300,000 , which we recorded as debt discount and were amortizing as interest expense over the life of the Subordinated Convertible Note using the effective interest rate method. The Subordinated Convertible Note did not include any financial covenants. Upon the completion of the IPO, which was considered a Qualified IPO under the Subordinated Convertible Note agreement, the Subordinated Convertible Note was converted into 700,000 shares of common stock as of the date of the IPO and there was no unpaid interest. Additionally, the unamortized debt discount of $61,000 was fully amortized to interest expense for the three months ended June 30, 2014. Interest expense, excluding the unamortized debt discount write-off, was $37,000 and $90,000 for the three and six months ended June 30, 2014 , respectively. Due to the completion of the IPO, there was no interest expense for the three and six months ended June 30, 2015 .

WARRANT LIABILITIES

WARRANT LIABILITIES	6 Months Ended
	Jun. 30, 2015
Warrants and Rights Note Disclosure [Abstract]
WARRANT LIABILITIES	WARRANT LIABILITIES From time to time, we and Resonant LLC have issued warrants to purchase shares of common stock and units of membership interest, respectively. These warrants have been issued in connection with the financing transactions and consulting services. Our warrants are subject to standard anti-dilution provisions applicable to shares of our common stock. Bridge Warrants In connection with and as an inducement to make the bridge loans in January and March 2013, Resonant LLC issued to each of our 3 founders five -year warrants to purchase Class B units of Resonant LLC at an exercise price of $0.40 per unit, which we refer to as the Bridge Warrants. The Bridge Warrants were issued in two tranches, at the same time the bridge loan was funded, with each founder receiving warrants for 20,833 Class B units on each of January 31, 2013 (for a total of 62,499 Class B units) and March 19, 2013 (for a total of 62,499 Class B units). The founders paid an aggregate of $1,000 in cash for the Bridge Warrants. We estimated the initial fair value of the Bridge Warrants issued in January 2013 to be $200,000 using the Black-Scholes option valuation model and the following assumptions: exercise price of $0.40 per unit; implied unit price of $3.75 ; expected volatility of 60% ; expected dividend rate of 0% ; risk free interest rate of 0.88% ; and expiration date of 5 years . We estimated the initial fair value of the Bridge Warrants issued in March 2013 to be $200,000 using the Black-Scholes option valuation model and the following assumptions: exercise price of $0.40 per unit; implied unit price of $3.60 ; expected volatility of 60% ; expected dividend rate of 0% ; risk free interest rate of 0.80% ; and expiration date of 5 years . ( See Note 2). On June 17, 2013, in connection with our acquisition of all of the outstanding membership interests of Resonant LLC in an exchange transaction, the founders exchanged their Bridge Warrants to purchase an aggregate of 124,998 Class B units of Resonant LLC for Bridge Warrants to purchase an aggregate of 249,999 shares of our common stock at an exercise price of $0.20 per share. All other terms of the Bridge Warrants remained the same. We revalued the Bridge Warrants on June 17, 2013 to $400,000 using the Black-Scholes option valuation model with the following assumptions: exercise price of $0.20 per share; implied stock price of $3.23 ; expected volatility of 60% ; expected dividend rate of 0% ; risk free interest rate of 1.06% ; and expiration date of 5 years . At each reporting period up through the IPO Date, any changes to the fair value of the Bridge Warrants were recorded in the condensed consolidated statements of operations. Consulting Warrant, Financing Warrant and Underwriting Warrant Upon consummation of our Senior Convertible Note financing, ( see Note 3 ), for business consulting services provided by MDB, we issued to MDB a seven -year warrant to purchase 222,222 shares of our common stock at an exercise price of $0.01 per share, which we refer to as the Consulting Warrant. The Consulting Warrant is exercisable six months after the completion of our initial public offering and prior to June 15, 2020. We estimated the initial fair value of the Consulting Warrant to be $700,000 using the Black-Scholes option valuation model with the following assumptions: exercise price of $0.01 per share; implied stock price of $3.23 ; expected volatility of 68.8% ; expected dividend rate of 0% ; risk free interest rate of 1.57% ; and expiration date of 7 years . ( See Note 2). In addition, for placement agent services provided by MDB in connection with our Senior Convertible Note financing, we issued to MDB a seven -year warrant to purchase shares of our common stock, which we refer to as the Financing Warrant. The Financing Warrant is exercisable six months after the completion of our IPO and prior to June 15, 2020. The Financing Warrant is exercisable for a number of shares of our common stock equal to $700,000 divided by the Financing Warrant’s exercise price. Prior to consummation of our Qualified IPO, the exercise price was equal to $6,000,000 divided by the Fully Diluted Shares. Upon consummation of our Qualified IPO, the exercise price was adjusted to be equal to the conversion price of our Senior Convertible Notes. As the value of the Financing Warrant depended on future price movements of our equity, we estimated the fair value of the Financing Warrant at December 31, 2013 to be $700,000 using a Monte Carlo option-pricing model with the following assumptions: equity value of $20 million , different conversion prices for different scenarios, time to maturity of 6.5 years , volatility of 65.3% and risk free rate of 2.28% . ( See Note 2). In connection with the closing of our IPO, we also issued a third warrant to MDB related to their role as the sole underwriter for our IPO, we refer to this as the Underwriting Warrant. We issued them a 5 -year warrant to purchase 310,500 shares of common stock at an exercise price of $7.50 per share. The warrant was not exercisable until November 24, 2014 ( 180 -days from the date of the underwriting agreement) and expires May 28, 2019. We estimated the fair value of the Underwriting Warrant at issuance date to be $901,000 using the Black-Scholes option valuation model with the following assumptions: market price of the stock of $6.00 per share, time to maturity of 5 years , volatility of 63.1% , zero expected dividend rate and risk free rate of 1.5% . ( See Note 2). In August 2014 and October 2014, we entered into agreements with our investor relations firm, or IR Firm, and an IR consultant to provide us with investor relations services. Pursuant to the IR Firm agreement, in addition to monthly cash compensation of $8,500 per month, we issued to the IR Firm a 3 -year consulting warrant, or IR Consulting Warrant, for the purchase of 42,000 shares of common stock which become fully vested on July 21, 2015. The IR Consulting Warrant has an exercise price of $8.31 and expires on July 17, 2017. We estimated the fair value of the IR Consulting Warrant at June 30, 2015 to be $10,000 representing a decrease of $71,000 from the prior quarter. We used the Black-Scholes option valuation model with the following assumptions: market price of the stock of $2.98 per share, time to maturity of 2.0 years, volatility of 60% , zero expected dividend rate and risk free rate of 0.66% . Pursuant to the IR consultant agreement, in addition to monthly cash compensation of $5,000 per month, we issued to the IR consultant a 4 -year consulting warrant, or IR Warrant, for the purchase of 6,000 shares of common stock that vests monthly over twelve months. The IR Warrant has an exercise price of $6.50 and expires on September 30, 2018 . Since the IR Warrant vests monthly, we estimated the fair value of the IR Warrant at the date of each vesting period over the three and six month periods ending June 30, 2015 using the Black-Scholes option valuation model with the following assumptions: market prices of the stock of $2.98 - $11.62 per share, time to maturity of 3.8 to 3.3 years, volatility of 60% to 81.8% , zero expected dividend rate and risk free rate range of 0.91% to 1.5% . Based on the monthly vesting fair values for the IR Warrant, we recorded expense of $2,000 and $11,000 for the three and six months periods ended June 30, 2015, respectively. We recorded reductions of $(69,000) and $(29,000) for stock-based compensation related to the IR warrants during the three and six months ended June 30, 2015 , respectively, which was included in general and administration expense. A roll-forward of warrant share activity from January 1, 2014 to June 30, 2014 is shown in the following table: Issued and Outstanding Warrants as of January 1, 2014 Warrants Issued Warrants Exercised/ Expired Issued and Outstanding Warrants as of June 30, 2014 Bridge Warrants 249,999 — — 249,999 Consulting Warrant 222,222 — — 222,222 Financing Warrant(1) 208,763 — — 208,763 Underwriting Warrant — 310,500 — 310,500 680,984 310,500 — 991,484 A roll-forward of warrant share activity from January 1, 2015 to June 30, 2015 is shown in the following table: Issued and Outstanding Warrants as of January 1, 2015 Warrants Issued Warrants Exercised/ Expired Issued and Outstanding Warrants as of June 30, 2015 Bridge Warrants 249,999 — — 249,999 Consulting Warrant 222,222 — (104,444 ) (2) 117,778 Financing Warrant(1) 208,763 — (130,604 ) (2) 78,159 Underwriting Warrant 310,500 — — 310,500 IR Consulting Warrants 48,000 — — 48,000 1,039,484 — (235,048 ) 804,436 (1) The number of shares of common stock underlying the Financing Warrant was determined using an exercise price of $3.35 per share, assuming the IPO price of our common stock in a Qualified IPO would be at least $5.59 per share. Upon completion of the IPO with a price of $6.00 per share, the number of shares was considered unchanged and final. (2) During the six months ended June 30, 2015 , there were 235,048 common stock warrants that were exercised through a cashless exercise which netted 208,184 shares being issued. Due to the expiration of the redemption and put option features included in the warrants outstanding as of January 1, 2014, the warrants are no longer included as liabilities after the IPO Date. During the three and six months ended June 30, 2014 , we recorded a gain of $252,000 and a loss of $382,000 , respectively, for the change in fair value of those warrants. There was no expense for the three and six months ended June 30, 2015 . For periods prior to the IPO Date, we used the Monte-Carlo option pricing model which takes into consideration the historical volatilities of comparable public companies using data from Capital IQ and implied volatiles from Bloomberg considering the differences in size among the public companies and us, and the warrant’s time to expiration. Estimates of expected term were based on the estimated time to expiration. The risk-free interest rate was based on the U.S. Treasury yield for a term consistent with the estimated expected term. The Monte-Carlo model used daily steps, assuming 252 trading days per year, which was based on 52 weeks of 5 trading days less 8 holidays, a standard assumption in the industry.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION 2014 Omnibus Incentive Plan In January 2014, our board of directors approved the 2014 Omnibus Incentive Plan and amended and restated the plan in March 2014. Our stockholders approved the Amended and Restated 2014 Omnibus Incentive Plan, or the 2014 Plan, in March 2014. Our 2014 Plan permits for the issuance of equity based instruments covering up to an initial total of 1,400,000 shares of common stock. Option Valuation We have computed the fair value of options granted to employees and non-employees using the Black-Scholes option valuation model. The compensation costs of non-employee arrangements are subject to re-measurement at each reporting period over the vesting terms as earned. Option forfeitures are estimated at the time of valuation and reduce expense ratably over the vesting period. This estimate will be adjusted periodically based on the extent to which actual option forfeitures differ, or are expected to differ, from the previous estimate, when it is material. The expected term used for options issued to non-employees is the contractual life and the expected term used for options issued to employees is the estimated period of time that options granted are expected to be outstanding. We have estimated the expected life of our employee stock options using the “simplified” method, whereby, the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to our lack of sufficient historical data. Since our stock has not been publicly traded for a sufficiently long period of time, we are utilizing an expected volatility figure based on a review of the historical volatilities, over a period of time, equivalent to the expected life of the instrument being valued, of similarly positioned public companies within our industry. The risk-free interest rate was determined from the implied yields from U.S. Treasury zero-coupon bonds with a remaining term consistent with the expected term of the instrument being valued. Stock Options to Employees and Consultants During the three and six months ended June 30, 2014 , we granted incentive stock options for the purchase of 376,500 shares of our common stock to our employees. The options have an exercise price range of $6.00 per share to $7.20 per share with a term of 10 years . A portion of the options vested immediately with the remaining options vesting quarterly over eight to sixteen quarters. The stock options granted had an aggregate grant date fair value of $1.2 million for the three and six months ended June 30, 2014, respectively, utilizing the Black-Scholes option valuation model. During the three and six months ended June 30, 2015 , we granted incentive stock options for the purchase of 15,000 and 70,000 shares, respectively, of our common stock to our employees. The options have an exercise price range of $4.13 per share to $12.98 per share with a term of ten years . The options vest quarterly over sixteen quarters. The options granted had an aggregate grant date fair value of $38,000 and $367,000 for the three and six months ended June 30, 2015 , respectively, utilizing the Black-Scholes option valuation model. We estimated the fair value of stock options awarded during the six months ended June 30, 2014 and June 30, 2015 using the Black-Scholes option valuation model. The fair values of stock options granted for the period were estimated using the following assumptions: Stock Option Grants Awarded During the Six Months Ended June 30, 2014 Stock Option Grants Awarded During the Six Months Ended June 30, 2015 Stock Price $6.00 to $7.72 $4.13 to $12.98 Dividend Yield 0.00% 0.00% Expected Volatility 69.8% 60% Risk-free interest rate 2.0% 1.44% - 1.83% Expected Life 6.93 to 7 years 7 years Stock-based compensation expense related to stock options for employees was $129,000 and $237,000 for the three and six months ended June 30, 2015 , respectively, and was $250,000 for the three and six months ended June 30, 2014 . We are also required to estimate forfeitures at the time of grant, and revise those estimates in subsequent periods if actual forfeitures differ from our estimates. We use historical data to estimate pre-vesting option forfeitures and record stock-based compensation expense only for those awards that are expected to vest. To the extent that actual forfeitures differ from our estimates, the difference is recorded as a cumulative adjustment in the period the estimates were revised. For the three and six months ended June 30, 2015 , there was no forfeiture rate applied as there have been very minimal forfeitures since the grant of awards and we do not expect to incur any for those shares currently awarded. For stock options paid in consideration of services rendered by non-employees, we recognize compensation expense in accordance with the requirements of ASC 505-50. Non-employee stock option grants that do not vest immediately upon grant are recorded as an expense over the vesting period. At the end of each financial reporting period prior to performance, the value of these stock options, as calculated using the Black-Scholes option valuation model, is determined, and compensation expense recognized or recovered during the period is adjusted accordingly. Since the fair market value of stock options granted to non-employees is subject to change in the future, the amount of the future compensation expense is subject to adjustment until the common stock options are fully vested. Stock-based compensation expense related to stock options for consultants was $17,000 for the six months ended June 30, 2015 and was $212,000 for the three and six months ended June 30, 2014. The decline in the market price of our common stock resulted in the reduced value of the stock options for the three months ended June 30, 2015 and we recorded a recovery of expense of $2,000 related to consultant stock options. Stock Option Award Activity The following is a summary of our stock option activity during the six months ended June 30, 2014 . Number of Weighted Weighted Weighted Total Grant Outstanding, January 1, 2014 — $ — $ — — $ — Granted 376,500 6.00 4.01 9.91 1,525,415 Exercised — — — — — Forfeited — — — — — Outstanding, June 30, 2014 376,500 $ 6.00 $ 4.01 9.91 $ 1,525,415 Exercisable, January 1, 2014 — $ — $ — — $ — Vested 106,891 6.00 4.01 9.91 461,576 Exercised — — — — — Forfeited — — — — — Exercisable, June 30, 2014 106,891 $ 6.00 $ 4.01 9.91 $ 461,576 The following is a summary of our stock option activity during the six months ended June 30, 2015 : Number of Stock Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Weighted Average Remaining Life In Years Total Grant Date Fair Value Outstanding, January 1, 2015 491,200 $ 6.13 $ 4.14 9.42 $ 2,034,000 Granted 70,000 8.84 5.24 9.74 367,000 Exercised — — — — — Forfeited (1,200 ) 8.06 5.19 — (6,000 ) Outstanding, June 30, 2015 560,000 $ 6.46 $ 4.28 9.03 $ 2,395,000 Exercisable, January 1, 2015 142,895 $ 6.02 $ 4.01 9.41 $ 574,000 Vested 72,222 6.48 4.22 8.79 278,000 Exercised — — — — — Forfeited — — — — — Exercisable, June 30, 2015 215,117 $ 6.17 $ 4.08 8.87 $ 852,000 The following table presents information related to stock options outstanding and exercisable at June 30, 2015 : Stock Options Outstanding Stock Options Exercisable Exercise Price Outstanding Number of Stock Options Weighted Average Remaining Life In Years Exercisable Number of Stock Options $4.13 – $6.00 384,000 8.85 191,110 $6.49 – $6.97 47,500 9.19 8,753 $7.20 – $8.06 98,500 8.83 13,378 $11.44 – $12.98 30,000 9.65 1,876 560,000 8.87 215,117 As of June 30, 2015 , there was $1.4 million of unrecognized compensation expense related to unvested employee stock option, which is expected to be recognized over a weighted-average period of approximately 2.9 years . There was no aggregate intrinsic value of outstanding stock options and options vested as of June 30, 2015 as there were no stock options outstanding or vested which represent stock options whose exercise price was less than the closing fair market value of our common stock on June 30, 2015 of $2.98 per share. Restricted Stock Units Activity We account for restricted stock units issued to employees at fair value, based on the market price of our stock on the date of grant, net of estimated forfeitures. The fair value of non-employee restricted stock units awarded are remeasured as the awards vest, and the resulting increase in fair value, if any, is recognized as expense in the period the related services are rendered. During the three and six months ended June 30, 2015 , we recorded $175,000 and $421,000 respectively, of stock-based compensation related to the restricted stock unit shares that have been issued to-date. During the three and six months ended June 30, 2014 , we recorded $39,000 of stock-based compensation related to restricted stock units. Shares vested during the three and six months ended June 30, 2015 were 6,411 shares and 26,919 shares, respectively, of which 1,941 shares and 4,341 shares, respectively, were surrendered by the employees for payment of payroll tax withholding liabilities. Shares vested during the three and six months ended June 30, 2014 were 6,410 shares, of which 1,381 were surrendered by the employees for payment of payroll tax withholding liabilities. A summary of restricted stock unit activity for the six months ended June 30, 2015 is as follows: Number of Restricted Share Units Weighted- Average Grant-Date Fair Value Outstanding at January 1, 2015 131,267 $ 6.00 Granted 212,403 7.40 Vested (26,919 ) 6.42 Cancelled — — Outstanding at June 30, 2015 316,751 $ 6.90 As of June 30, 2015 , there was $1.8 million of unrecognized compensation expense related to unvested employee restricted stock unit agreements which is expected to be recognized over a weighted-average period of approximately 3.0 years . For restricted stock unit awards subject to graded vesting, we recognize compensation cost on a straight-line basis over the service period for the entire award. Performance Awards For 2015 we have put in place a performance based bonus program which identifies five specific performance objectives to be accomplished during 2015 for all employees. The awards contain a combination of service conditions and performance conditions based on the achievement of specified performance thresholds approved by the board. The performance bonus amounts will be based on each individual’s salary paid during the year multiplied by the bonus multiplier percentage ranging from 6.67% to 13.34% per objective plus an additional 10% bonus for non-executive employees and a multiplier range from 16.67% to 25.00% per objective for the executive employees. The performance bonus will be paid in the form of restricted stock units which will vest half on the issuance date and the remaining half on January 1, 2017. The number of shares granted to each employee will be determined based on the performance bonus amount divided by the 10 -day average stock price prior December 31, 2015. The grant date is expected to be in the first quarter of 2016. We recognize stock-based compensation expense for restricted stock units with performance conditions based on the probability of the performance condition being met, net of estimated pre-vesting forfeitures. For the three and six months ended June 30, 2015 , we recorded $99,000 and $196,000 , respectively, of stock-based compensation which represents one-quarter of one-half and one-quarter, respectively, of the estimated performance bonus amount. The estimated performance bonus amount has been recorded, as the achievement of a portion of the performance conditions were considered probable. Total equity-based compensation cost recorded in the condensed consolidated statements of operations, which includes the value of stock options and restricted stock units issued to employees, directors and non-employees for services and excludes the performance bonus accrual and warrant consultant cost, is allocated as follows: Three Months Ended June 30, 2014 Three Months Ended June 30, 2015 Six Months Ended Six Months Ended Research and development Employees $ 166,000 $ 131,000 $ 166,000 $ 307,000 Non-employees 45,000 2,000 45,000 19,000 General and administrative Employees and directors 108,000 168,000 108,000 328,000 Non-employees 181,000 1,000 181,000 21,000 $ 500,000 $ 302,000 $ 500,000 $ 675,000

FAIR VALUE MEASUREMENTS AND DER

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS	FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS We measure our financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., exit price) in an orderly transaction between market participants at the measurement date. Additionally, we are required to provide disclosure and categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e., inputs) used in the valuation. Level 1 provides the most reliable measure of fair value while Level 3 generally requires significant management judgment. Financial assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement. The fair value hierarchy is defined as follows: Level 1—Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2—Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. Level 3—Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. Our common stock purchase warrants issued in conjunction with debt and consulting services are detachable, or free standing, instruments. In addition, we have recorded a derivative liability associated with the conversion feature in our Senior Convertible Note. We estimate fair values of these warrants and derivative liabilities utilizing Level 3 inputs for all classes of warrants and derivative liabilities issued. Other than the Financing Warrant and Senior Convertible Note derivative liability, we used the Black-Scholes option valuation technique as it embodies all of the requisite assumptions (including trading volatility, remaining term to maturity, market price, strike price, and risk free rates) necessary to fair value these instruments. To determine the value of the Financing Warrant and Senior Convertible Note derivative liability, we used a Monte Carlo option-pricing model, which takes into consideration the market values of comparable public companies, considering among other factors, the use of multiples of earnings, and adjusted to reflect the restrictions on the ability of our shares to trade in an active market. We determined that as the Financing Warrant and debt conversion can only be exercised upon the probability of satisfying a performance condition such as a Qualifying IPO or Fundamental Transaction, as provided for in the applicable instrument, and thus a closed-form model such as the Black-Scholes option valuation model would not be appropriate. ( See Note 4 ). The following assumptions were used in the Monte Carlo option-valuation model to determine the fair value of the Financing Warrant and Senior Convertible Note derivative liability during the three and six months ended June 30, 2014 : Expected Life (Years) Risk Free Rate Volatility Probability of a Capital Raise Financing Warrant 6.25 2.09% 69.9% 0.00% Senior Convertible Note Derivative Liability 0.5 0.13% 96.3% 80% – 95% The following assumptions were used in the Black-Scholes option valuation model to determine the fair value of the warrant liabilities: March 31, 2014 IPO Date Assumptions: Risk-free interest rate 1.32% - 2.02% 1.25% - 2.31% Expected dividend yield 0.00% 0.00% Expected volatility 64.3% - 69.8% 64.0% - 69.6% Expected term (in years) 3.83 – 6.25 3.58 – 5.95 We used a fair value per share of our common stock of $6.00 as of the IPO Date to determine the fair value of derivative and warrant liabilities. We estimated the fair value of our warrants and Senior Convertible Note derivative at the time of issuance and subsequently remeasured the fair value using the Black-Scholes option valuation model or Monte Carlo option-pricing model as discussed above, at each reporting date through the IPO Date, using the following inputs: the risk-free interest rates; the expected dividend rates; the remaining expected life of the warrants; and the expected volatility of the price of the underlying common stock. Under the Monte Carlo option-pricing model we estimated the fair value of the Senior Convertible Note derivative liability and Financing Warrant liability at the time of issuance and subsequent remeasurement dates considering the probability of achieving a milestone, the cost of capital, and the estimated time period the right would be outstanding. The estimates were based, in part, on subjective assumptions and could differ materially following the measurement date ( see Note 4 ). Changes to these assumptions as well as our stock price on the reporting date could have had a significant impact on the fair value of the warrant liabilities until the IPO Date. As a result of the expiration of the redemption and put option features included in the Bridge Warrants, Consulting Warrant and Financing Warrant as of the IPO Date, under accounting rules, these warrant liabilities are no longer classified as liabilities. There are no warrant liabilities or other liabilities to be measured at fair value on a recurring basis as of June 30, 2015 . The following table provides a reconciliation of all liabilities measured at fair value using Level 3 significant unobservable inputs as of June 30, 2014 : Warrant Liabilities(1) Senior Convertible Note Derivative Liability(2) Balance at January 1, 2014 $ 3,276,000 $ 5,057,000 Change in fair value 382,000 1,633,000 Write-off due to conversion and IPO (3,658,000 ) (6,690,000 ) Balance at June 30, 2014 $ — $ — (1) The change in the fair value of the warrants was recorded as a gain of $252,000 and a reduction of $(382,000) to other income in the condensed consolidated statement of operations for the three and six months ended June 30, 2014 , respectively. Due to the expiration of the redemption and put option features included in the Bridge Warrants, Consulting Warrant and Financing Warrant as of the IPO Date, these warrant liabilities were recorded as an increase of $3.7 million to additional paid-in capital in the consolidated balance sheet as of December 31, 2014 . There were no warrant liabilities as of June 30, 2015 . (2) The change in the fair value of the senior convertible note derivative liability was recorded as a reduction to other income (expense) in the condensed consolidated statement of operations of $0 and ( $1.6 million ) for the three and six months ended June 30, 2014 , respectively. The extinguishment of the senior convertible note derivative liability was recorded as an increase of $5.5 million to additional paid-in capital and a gain of $1.2 million to other income in the consolidated statement of operations for the year ended December 31, 2014 . There were no derivative liabilities as of June 30, 2015 .

COMMITMENT AND CONTINGENCIES

COMMITMENT AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENT AND CONTINGENCIES	COMMITMENT AND CONTINGENCIES Commitments —In October 2013, we signed a lease for new office space for our corporate headquarters, and moved into the new location in the first quarter of 2014. The lease had a term of 38 months and a rental cost of approximately $5,412 per month, increasing 3% annually after the first fourteen months . In addition, our share of building operating costs were estimated to be $2,101 per month. In April 2014, we amended the lease to add additional space which increased our rent to $8,286 per month beginning August 1, 2014 plus estimated monthly operating costs of $3,154 and extended the lease term through July, 2017. We have a renewal option for an additional 3 years term. The original lease included a tenant improvement allowance of $72,000 and the amended lease included an additional tenant improvement allowance of $38,000 . The allowances were used to construct our office build-out and have been capitalized as leasehold improvements and construction-in-process as of December 31, 2014 and as leasehold improvements as of June 30, 2015 as construction has been completed. The capitalized costs are being amortized over the amended lease term through July 2017. In November 2013, we signed a lease for our satellite development office in Burlingame, CA. The lease had a two -year term, and rental costs of approximately $4,169 per month. In May 2015, we renewed the lease for a one year period expiring November 30, 2016 with rental costs of $4,925 per month. Rent expense related to our facilities and equipment for the three months ended June 30, 2014 and June 30, 2015 was $26,000 and $38,000 , respectively and for the six months ended June 30, 2014 and June 30, 2015 was $51,000 and $75,000 , respectively. Legal Proceedings —We are occasionally involved in legal proceedings and other matters arising from the normal course of business. Beginning on March 17, 2015, three putative class action lawsuits were commenced against the Company, Terry Lingren and John Philpott, in the United States District Court for the Central District of California. The three lawsuits, which are described below, each purport to assert claims under the federal securities laws based on similar allegations. As described below, on June 9, 2015, the court entered an order consolidating these three putative class action lawsuits into one consolidated action; however, plaintiffs in the consolidated action have not yet filed a consolidated complaint. On March 17, 2015, a putative class action lawsuit was commenced against the Company, Terry Lingren and John Philpott, in the United States District Court for the Central District of California, captioned John Paggos v. Resonant Inc., et al. , No. 2:15-cv-01970. The plaintiff alleges that the Company and the individual defendants violated Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, and that the individual defendants violated Section 20(a) of the Exchange Act. The plaintiff purports to be acting on behalf of a class consisting of purchasers or acquirers of our common stock between August 14, 2014 and February 26, 2015 (the “Paggos Class Period”). The plaintiff alleges that, as a result of the defendants’ allegedly false and/or misleading statements and/or omissions concerning our business, operations, prospects and performance, our common stock traded at artificially inflated prices throughout the Paggos Class Period. The plaintiff seeks compensatory damages and fees and costs, among other relief, but has not specified the amount of damages being sought in the action. On March 19, 2015, a putative class action lawsuit was commenced against the Company, Terry Lingren and John Philpott, in the United States District Court for the Central District of California, captioned John DeVouassoux v. Resonant Inc., et al. , No. 2:15-cv-02054. The plaintiff alleges that the Company and the individual defendants violated Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder, and that the individual defendants violated Section 20(a) of the Exchange Act. The plaintiff purports to be acting on behalf of a class consisting of purchasers or acquirers of our common stock between November 6, 2014 and February 26, 2015 (the “DeVouassoux Class Period”). The plaintiff alleges that, as a result of the defendants’ allegedly false and/or misleading statements and/or omissions concerning our financial well-being and prospects, our common stock traded at artificially inflated prices throughout the DeVouassoux Class Period. The plaintiff seeks compensatory damages and fees and costs, among other relief, but has not specified the amount of damages being sought in the action. On March 31, 2015, a putative class action lawsuit was commenced against the Company, Terry Lingren and John Philpott, in the United States District Court for the Central District of California, captioned Ramon Arias v. Resonant Inc., et al. , No. 2:15-cv-02369. Later the same day, an amended complaint was filed. The plaintiff alleges that the Company and the individual defendants violated Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder, and that the individual defendants violated Section 20(a) of the Exchange Act. The plaintiff purports to be acting on behalf of a class consisting of purchasers or acquirers of our common stock between August 14, 2014 and February 26, 2015 (the “Arias Class Period”). The plaintiff alleges that, as a result of the defendants’ allegedly false and/or misleading statements and/or omissions concerning our business, operations, prospects and performance, our common stock traded at artificially inflated prices throughout the Arias Class Period. The plaintiff seeks compensatory damages and fees and costs, among other relief, but has not specified the amount of damages being sought in the action. On June 9, 2015, the court entered an order consolidating the Paggos , DeVouassoux and Arias actions into one consolidated action, In re Resonant Inc. Securities Litigation , Case No. 15-cv-01970 SJO (VBKx). On August 7, 2015, the court entered an order appointing William Haskins and Brent Kaneshiro as co-lead plaintiffs in the consolidated action. The court has set a schedule under which co-lead plaintiffs are anticipated to file a consolidated amended complaint no later than September 21, 2015. We deny the material allegations of these three actions and intend to defend them vigorously. We have directors’ and officers’ liability insurance, which will be utilized in the defense of these matters. As of June 30, 2015 , we have incurred legal expenses of approximately $22,000 and expect to incur some costs to defend these suits in the future. The liability insurance may not cover all of the future liabilities we may incur in connection with the foregoing matters. Legal fees and other costs associated with such actions are expensed as incurred. We assess, in conjunction with our legal counsel, the need to record a liability for litigation and contingencies. Litigation accruals are recorded when and if it is determined that a loss related matter is both probable and reasonably estimable. Material loss contingencies that are reasonably possible of occurrence, if any, are subject to disclosure. Based on the very early stage of litigation for the cases referred to above, it is not possible to estimate the amount or range of possible loss that might result from an adverse judgment or a settlement of these matters. We will evaluate developments in legal proceedings and other matters on a quarterly basis. As of June 30, 2014 and June 30, 2015 , there was no litigation or contingency with at least a reasonable possibility of a material loss. No losses have been recorded during the three and six months ended June 30, 2014 and June 30, 2015 , respectively, with respect to litigation or loss contingencies.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS We evaluated subsequent events through August 13, 2015 , the date of issuance of the condensed consolidated financial statements for the three and six months ended June 30, 2015 .

SUMMARY OF SIGNIFICANT ACCOUN15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates —The accompanying condensed financial statements have been prepared in accordance with U.S. GAAP. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Significant estimates made in preparing these financial statements include (a) assumptions to calculate the fair values of financial instruments, derivatives, warrants and equity instruments and other liabilities and the deferred tax asset valuation allowance and (b) the useful lives for depreciable and amortizable assets. Actual results could differ from those estimates. In the opinion of management, all adjustments, including normal recurring accruals considered necessary for a fair presentation, have been included.
Restricted Cash	Restricted Cash —Restricted cash at June 30, 2015 represents cash held within a certificate of deposit with a financial institution which serves as collateral for our corporate credit cards. The restriction on the cash will lapse in conjunction with the expiration of the use of the corporate credit cards. There was no restricted cash as of December 31, 2014 .
Investments	Investments —Securities held-to-maturity: Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each statement of financial position date. Investment/Debt securities are classified as held-to-maturity when we have the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in investment income. Interest on securities classified as held-to-maturity is included in investment income. With respect to debt securities, when the fair value of a debt security classified as held-to-maturity or available for sale is less than its amortized cost, management assesses whether or not: (i) we have the intent to sell the security or (ii) it is more likely than not that we will be required to sell the security before its anticipated recovery. If either of these conditions is met, we must recognize an other-than-temporary impairment earnings for the difference between the debt security’s amortized cost basis and its fair value, and includes such amounts in net securities gains (losses). For debt securities that do not meet the above criteria and are not expected to be recovered at the amortized cost basis, the security is considered other-than-temporarily impaired. For these debt securities, we separate the total impairment into the credit loss component and the amount of the loss related to other factors. In order to determine the amount of the credit loss for a debt security, we calculate the recovery value by performing a discounted cash flow analysis based on the current cash flows and future cash flows management expects to recover. The discount rate is the effective interest rate implicit in the underlying debt security. The amount of the total other-than-temporary impairment related to credit loss is recognized in earnings and is included in net securities gains (losses). The amount of the total other-than-temporary impairment related to other factors is recognized in other comprehensive income. For debt securities that have recognized as other-than-temporary impairment through earnings, if through subsequent evaluation there is a significant increase in the cash flow expected, the difference between the amortized cost basis and the cash flows expected to be collected is accreted as interest income.
Fair Value of Financial Instruments	Fair Value of Financial Instruments —We measure certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The carrying amounts of our financial instruments, including cash equivalents, accounts payable, and accrued liabilities, approximate fair value due to their short maturities. The carrying amount of our warrant liabilities and our derivative liability related to the Senior Convertible Notes were marked to market each reporting date until the warrants and derivative liability were settled. Prior to the IPO Date, the fair value of the financing warrant liability and derivative liability ( see Note 3 and Note 4 ) were estimated using a Monte Carlo option-pricing model, which takes into consideration the market values of comparable public companies, considering among other factors, the use of multiples of earnings, and adjusted to reflect the restrictions on the ability of our securities to trade in an active market. As of the IPO Date, the fair value of the remaining warrants and the financing warrant liability and derivative liability, were estimated using a Black-Scholes option valuation technique as it embodies all of the requisite assumptions (including trading volatility, remaining term to maturity, market price, strike price, and risk free rates) necessary to fair value these instruments. Estimates of expected term were based on the estimated time to expiration. The risk-free interest rate was based on the U.S. Treasury yield for a term consistent with the estimated expected term. We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future. Consequently, we use an expected dividend yield of zero . Our expected volatility was derived from the historical volatilities of several public companies in similar industries because we have limited information on the volatility of the price of our common stock because we have no trading history. When making the selections of our industry peer companies to be used in the volatility calculation, we consider operational area, size, business model, industry and the business of potential comparable companies. These historical volatilities are weighted based on certain qualitative factors and combined to produce a single volatility factor. All of the warrant liabilities and the derivative liability are valued using level 3 inputs ( see Note 6 for the range of assumptions used ). Prior to the IPO Date, the determination of the value of our common stock, and for purposes of establishing the value of the warrants and derivatives related to the bridge financing, the senior convertible notes, the subordinated convertible notes and the consulting warrants, management considered several factors and the probability of achieving each one of them. The significant factors were (1) securing adequate funding to complete the single-band commercial surface acoustic wave, or SAW, duplexer design under the terms of the development agreement with our first customer; (2) developing a working duplexer product that meets the specifications of our first customer; and (3) our first customer exercising its licensing option if the duplexer product met its specifications. The probabilities for achieving each of these factors changed during the periods from January 31, 2013 to June 16, 2013 and December 31, 2013. These probabilities were affected by our ability to hire technical personnel to develop the technology and design the product, establish a management team to develop a business plan, secure financing, execute the business plan, and interact with our first customer to achieve the milestones contained in the development agreement with them. As we made progress in each of these areas over the period from January 31, 2013 through December 31, 2013 the probability elements in each of these factors changed and increased. These increases resulted in higher valuations of our common stock and accordingly the values of the warrants and derivatives at each of these periods. Following the IPO Date, we used the current market value of our common stock to assist in determining the value of the warrants and stock options using the Black-Scholes option valuation model.
Cash and Cash Equivalents	Cash and Cash Equivalents —We consider all liquid instruments purchased with a maturity of three months or less to be cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk —We maintain checking accounts at one financial institution. These accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account. Management believes we are not exposed to significant credit risk due to the financial position of the depository institution in which these deposits are held.
Property and Equipment	Property and Equipment —Property and equipment consists of leasehold improvements associated with our new corporate office, software purchased during the normal course of business, computer equipment and office furniture and fixtures, all of which are recorded at cost. Depreciation and amortization is recorded using the straight-line method over the respective useful lives of the assets ranging from three to five years. Long-lived assets, including software are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable.
Intangible Assets Subject to Amortization	Intangible Assets Subject to Amortization —At December 31, 2014 and June 30, 2015 , intangible assets subject to amortization include patents and a domain name purchased for use in operations. Intangible assets are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable.
Deferred Finance Costs	Deferred Finance Costs —Costs relating to our senior convertible note and subordinated convertible note financings were capitalized and amortized over the term of the related debt using the effective interest method.
Research and Development	Research and Development —Costs and expenses that can be clearly identified as research and development are charged to expense as incurred in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, Topic 730-10, Research and Development .
Stock-Based Compensation	Stock-Based Compensation —We account for employee stock options in accordance with ASC Topic 718, Compensation-Stock Compensation . For stock options issued to employees and directors we use the Black-Scholes option valuation model for estimating fair value at the date of grant. For stock options issued for services rendered by non-employees, we recognize compensation expense in accordance with the requirements of ASC 505-50 , Equity , or ASC 505-50, as amended. Non-employee option grants that do not vest immediately upon grant are recorded as an expense over the vesting period. At the end of each financial reporting period prior to performance, the value of these options, as calculated using the Black-Scholes option valuation model, is determined, and compensation expense recognized or recovered during the period is adjusted accordingly. Since the fair market value of options granted to non-employees is subject to change in the future, the amount of the future compensation expense is subject to adjustment until the common stock options or warrants are fully vested. We account for restricted stock units issued to employees at fair value, based on the market price of our stock on the date of grant, net of estimated forfeitures. Compensation expense is recognized for the portion of the award that is ultimately expected to vest over the period during which the recipient renders the required services to the Company generally using the straight-line single option method. The fair value of non-employee restricted stock units awarded are remeasured as the awards vest, and the resulting increase or decrease in fair value, if any, is recognized as an increase or decrease to compensation expense in the period the related services are rendered.
Earnings Per Share, or EPS	Earnings Per Share, or EPS —EPS is computed in accordance with ASC Topic 260, Earnings per Share , and is calculated using the weighted average number of common shares outstanding during each period. Diluted EPS assumes the conversion, exercise or issuance of all potential common stock equivalents unless the effect is to reduce a loss or increase the income per share. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method), the exercise and/or conversion of our convertible notes and warrants (using the if-converted method).
Derivative Instruments	Derivative Instruments —We account for free-standing derivative instruments and hybrid instruments that contain embedded derivative features in accordance with ASC Topic 815, Accounting for Derivative Instruments and Hedging Activities , or ASC 815, as well as related interpretations of this topic. In accordance with this topic, derivative instruments and hybrid instruments are recognized as either assets or liabilities in the balance sheet and are measured at fair values with gains or losses recognized in earnings. Embedded derivatives that are not clearly and closely related to the host contract are bifurcated and are recognized at fair value with changes in fair value recognized as either a gain or loss in earnings. We determined the fair value of derivative instruments and hybrid instruments based on available market data using appropriate valuation models, giving consideration to all of the rights and obligations of each instrument. We estimated the fair values of derivative instruments and hybrid instruments using various techniques (and combinations thereof) that are considered to be consistent with the objective of measuring fair values. In selecting the appropriate technique, we considered, among other factors, the nature of the instrument, the market risks that it embodies and the expected means of settlement. For less complex instruments, such as free-standing warrants, we generally used the Black-Scholes option valuation model, adjusted for the effect of dilution, because it embodies all of the requisite assumptions (including trading volatility, estimated terms, dilution and risk free rates) necessary to fair value these instruments. Estimating fair values of derivative financial instruments requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. Under ASC 815, increases in the trading price of our common stock and increases in fair value during a given financial quarter result in the application of non-cash derivative expense. Conversely, decreases in the trading price of our common stock and decreases in fair value during a given financial quarter would result in the application of non-cash derivative income. In situations where the Black-Scholes option valuation model was not deemed appropriate, we used a Monte Carlo option-pricing model to determine the fair value of derivative instruments.
Income Taxes	Income Taxes —We account for income taxes in accordance with ASC Topic 740, Income Taxes , or ASC 740, which requires the recognition of deferred tax assets and liabilities for the future consequences of events that have been recognized in our condensed consolidated financial statements or tax returns. The measurement of the deferred items is based on enacted tax laws. In the event the future consequences of differences between financial reporting bases and the tax bases of our assets and liabilities result in a deferred tax asset, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such asset. A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion or the entire deferred tax asset will not be realized. As part of the process of preparing our consolidated financial statements, we are required to estimate our income tax expense in each of the jurisdictions in which we operate. We also assess temporary differences resulting from differing treatment of items for tax and accounting differences. We record a valuation allowance to reduce the deferred tax assets to the amount of future tax benefit that is more likely than not to be realized. For the period when we were organized as a limited liability company, we were treated as a partnership for federal and state income tax purposes under the entity classification domestic default rules. As of December 31, 2014 and June 30, 2015 , no liability for unrecognized tax benefits was required to be reported. We recognize interest and penalties related to income tax matters in income taxes, and there were none for the three and six months ended June 30, 2014 and June 30, 2015 , respectively. We have filed, or are in the process of filing, tax returns that are subject to audit by the respective tax authorities. Although the ultimate outcome would be unknown, we believe that any adjustments that may result from tax return audits are not likely to have a material, adverse effect on our condensed consolidated results of operations, financial position or cash flows.
Recent Accounting Pronouncements	Recent Accounting Pronouncements We have reviewed all of the recent accounting pronouncements and have determined that they have not or will not have a material impact on our condensed consolidated financial statements, or do not apply to our operations.

SUMMARY OF SIGNIFICANT ACCOUN16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Schedule of number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders	The following table presents the number of shares excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods below: Six Months Ended June 30, 2014 2015 Common stock warrants 991,484 804,436 Common stock options 376,500 560,000 Total shares excluded from net loss per share attributable to common stockholders 1,367,984 1,364,436

WARRANT LIABILITIES (Tables)

WARRANT LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2015
Warrants and Rights Note Disclosure [Abstract]
Schedule of warrant activity	A roll-forward of warrant share activity from January 1, 2014 to June 30, 2014 is shown in the following table: Issued and Outstanding Warrants as of January 1, 2014 Warrants Issued Warrants Exercised/ Expired Issued and Outstanding Warrants as of June 30, 2014 Bridge Warrants 249,999 — — 249,999 Consulting Warrant 222,222 — — 222,222 Financing Warrant(1) 208,763 — — 208,763 Underwriting Warrant — 310,500 — 310,500 680,984 310,500 — 991,484 A roll-forward of warrant share activity from January 1, 2015 to June 30, 2015 is shown in the following table: Issued and Outstanding Warrants as of January 1, 2015 Warrants Issued Warrants Exercised/ Expired Issued and Outstanding Warrants as of June 30, 2015 Bridge Warrants 249,999 — — 249,999 Consulting Warrant 222,222 — (104,444 ) (2) 117,778 Financing Warrant(1) 208,763 — (130,604 ) (2) 78,159 Underwriting Warrant 310,500 — — 310,500 IR Consulting Warrants 48,000 — — 48,000 1,039,484 — (235,048 ) 804,436 (1) The number of shares of common stock underlying the Financing Warrant was determined using an exercise price of $3.35 per share, assuming the IPO price of our common stock in a Qualified IPO would be at least $5.59 per share. Upon completion of the IPO with a price of $6.00 per share, the number of shares was considered unchanged and final. (2) During the six months ended June 30, 2015 , there were 235,048 common stock warrants that were exercised through a cashless exercise which netted 208,184 shares being issued.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of fair values of stock options granted, estimated using Black-Scholes option valuation model assumptions	We estimated the fair value of stock options awarded during the six months ended June 30, 2014 and June 30, 2015 using the Black-Scholes option valuation model. The fair values of stock options granted for the period were estimated using the following assumptions: Stock Option Grants Awarded During the Six Months Ended June 30, 2014 Stock Option Grants Awarded During the Six Months Ended June 30, 2015 Stock Price $6.00 to $7.72 $4.13 to $12.98 Dividend Yield 0.00% 0.00% Expected Volatility 69.8% 60% Risk-free interest rate 2.0% 1.44% - 1.83% Expected Life 6.93 to 7 years 7 years
Summary of stock option activity	The following is a summary of our stock option activity during the six months ended June 30, 2014 . Number of Weighted Weighted Weighted Total Grant Outstanding, January 1, 2014 — $ — $ — — $ — Granted 376,500 6.00 4.01 9.91 1,525,415 Exercised — — — — — Forfeited — — — — — Outstanding, June 30, 2014 376,500 $ 6.00 $ 4.01 9.91 $ 1,525,415 Exercisable, January 1, 2014 — $ — $ — — $ — Vested 106,891 6.00 4.01 9.91 461,576 Exercised — — — — — Forfeited — — — — — Exercisable, June 30, 2014 106,891 $ 6.00 $ 4.01 9.91 $ 461,576 The following is a summary of our stock option activity during the six months ended June 30, 2015 : Number of Stock Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Weighted Average Remaining Life In Years Total Grant Date Fair Value Outstanding, January 1, 2015 491,200 $ 6.13 $ 4.14 9.42 $ 2,034,000 Granted 70,000 8.84 5.24 9.74 367,000 Exercised — — — — — Forfeited (1,200 ) 8.06 5.19 — (6,000 ) Outstanding, June 30, 2015 560,000 $ 6.46 $ 4.28 9.03 $ 2,395,000 Exercisable, January 1, 2015 142,895 $ 6.02 $ 4.01 9.41 $ 574,000 Vested 72,222 6.48 4.22 8.79 278,000 Exercised — — — — — Forfeited — — — — — Exercisable, June 30, 2015 215,117 $ 6.17 $ 4.08 8.87 $ 852,000
Schedule of information related to stock options outstanding and exercisable	The following table presents information related to stock options outstanding and exercisable at June 30, 2015 : Stock Options Outstanding Stock Options Exercisable Exercise Price Outstanding Number of Stock Options Weighted Average Remaining Life In Years Exercisable Number of Stock Options $4.13 – $6.00 384,000 8.85 191,110 $6.49 – $6.97 47,500 9.19 8,753 $7.20 – $8.06 98,500 8.83 13,378 $11.44 – $12.98 30,000 9.65 1,876 560,000 8.87 215,117
Schedule of restricted stock unit activity	A summary of restricted stock unit activity for the six months ended June 30, 2015 is as follows: Number of Restricted Share Units Weighted- Average Grant-Date Fair Value Outstanding at January 1, 2015 131,267 $ 6.00 Granted 212,403 7.40 Vested (26,919 ) 6.42 Cancelled — — Outstanding at June 30, 2015 316,751 $ 6.90
Schedule of stock-based compensation	Total equity-based compensation cost recorded in the condensed consolidated statements of operations, which includes the value of stock options and restricted stock units issued to employees, directors and non-employees for services and excludes the performance bonus accrual and warrant consultant cost, is allocated as follows: Three Months Ended June 30, 2014 Three Months Ended June 30, 2015 Six Months Ended Six Months Ended Research and development Employees $ 166,000 $ 131,000 $ 166,000 $ 307,000 Non-employees 45,000 2,000 45,000 19,000 General and administrative Employees and directors 108,000 168,000 108,000 328,000 Non-employees 181,000 1,000 181,000 21,000 $ 500,000 $ 302,000 $ 500,000 $ 675,000

FAIR VALUE MEASUREMENTS AND D19

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements
Schedule of reconciliation of all liabilities measured at fair value using Level 3 significant unobservable inputs	The following table provides a reconciliation of all liabilities measured at fair value using Level 3 significant unobservable inputs as of June 30, 2014 : Warrant Liabilities(1) Senior Convertible Note Derivative Liability(2) Balance at January 1, 2014 $ 3,276,000 $ 5,057,000 Change in fair value 382,000 1,633,000 Write-off due to conversion and IPO (3,658,000 ) (6,690,000 ) Balance at June 30, 2014 $ — $ — (1) The change in the fair value of the warrants was recorded as a gain of $252,000 and a reduction of $(382,000) to other income in the condensed consolidated statement of operations for the three and six months ended June 30, 2014 , respectively. Due to the expiration of the redemption and put option features included in the Bridge Warrants, Consulting Warrant and Financing Warrant as of the IPO Date, these warrant liabilities were recorded as an increase of $3.7 million to additional paid-in capital in the consolidated balance sheet as of December 31, 2014 . There were no warrant liabilities as of June 30, 2015 . (2) The change in the fair value of the senior convertible note derivative liability was recorded as a reduction to other income (expense) in the condensed consolidated statement of operations of $0 and ( $1.6 million ) for the three and six months ended June 30, 2014 , respectively. The extinguishment of the senior convertible note derivative liability was recorded as an increase of $5.5 million to additional paid-in capital and a gain of $1.2 million to other income in the consolidated statement of operations for the year ended December 31, 2014 . There were no derivative liabilities as of June 30, 2015 .
Monte Carlo option-valuation model
Fair Value Measurements
Schedule of assumptions used to determine the fair value	The following assumptions were used in the Monte Carlo option-valuation model to determine the fair value of the Financing Warrant and Senior Convertible Note derivative liability during the three and six months ended June 30, 2014 : Expected Life (Years) Risk Free Rate Volatility Probability of a Capital Raise Financing Warrant 6.25 2.09% 69.9% 0.00% Senior Convertible Note Derivative Liability 0.5 0.13% 96.3% 80% – 95%
Black-Scholes option valuation model
Fair Value Measurements
Schedule of assumptions used to determine the fair value	The following assumptions were used in the Black-Scholes option valuation model to determine the fair value of the warrant liabilities: March 31, 2014 IPO Date Assumptions: Risk-free interest rate 1.32% - 2.02% 1.25% - 2.31% Expected dividend yield 0.00% 0.00% Expected volatility 64.3% - 69.8% 64.0% - 69.6% Expected term (in years) 3.83 – 6.25 3.58 – 5.95

ORGANIZATION AND DESCRIPTION 20

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details)	Jun. 03, 2014USD ($)$ / sharesshares	Jun. 03, 2014USD ($)$ / sharesshares	Jun. 17, 2013USD ($)shares$ / shares	Jul. 06, 2012USD ($)	Jun. 30, 2015USD ($)$ / shares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Mar. 31, 2013USD ($)
Organization and description of business
Share price (in dollars per share) | $ / shares	$ 6	$ 6
Common stock issued in initial public offering, or IPO (in shares) | shares	3,105,000
Proceeds from sale of common stock from the IPO	$ 16,200,000				$ 0	$ 18,630,000
Cash paid for accrued interest					0	404,000
Revenue since inception							$ 0
Accumulated deficit					25,570,000		25,570,000	$ 21,197,000
Cash and cash equivalents					1,782,000	$ 17,354,000	1,782,000	5,803,000	$ 3,339,000
Short-term investments					8,000,000		8,000,000	$ 8,000,000
Existing cash balances and investments					9,800,000		9,800,000
Subordinated Convertible Note
Organization and description of business
Conversion of convertible notes (in shares) | shares		700,000
Accrued interest					$ 0		$ 0
Lockup period for shares issued on conversion Convertible Notes					12 months
Subordinated Convertible Note | STI
Organization and description of business
Debt issued			$ 2,400,000
Interest rate (as a percent)			11.80%
Senior convertible notes
Organization and description of business
Debt issued			$ 7,000,000
Interest rate (as a percent)			6.00%
Conversion of convertible notes (in shares) | shares		2,087,667
Cash paid for accrued interest		$ 404,000
Lockup period for shares issued on conversion Convertible Notes					180 days
Senior convertible notes | Mandatory Conversion-Qualifying IPO
Organization and description of business
Number of shares of common stock into which debt will be automatically converted | shares			2,087,667
MDB
Organization and description of business
Warrants to purchase shares of common stock (in shares) | shares	310,500	310,500
Warrant term		5 years
Exercise price (in dollars per unit/share) | $ / shares	$ 7.50	$ 7.50
Warrant exercisable duration from the date of the underwriting agreement					180 days
MDB | Financing Warrant
Organization and description of business
Payment of placement agent commission			$ 700,000
Warrants to purchase shares of common stock (in shares) | shares			208,763
Share price (in dollars per share) | $ / shares			$ 3.35
Warrant term			7 years
Exercise price (in dollars per unit/share) | $ / shares					$ 3.35		$ 3.35
MDB | Consulting warrant
Organization and description of business
Warrants to purchase shares of common stock (in shares) | shares			222,222
Share price (in dollars per share) | $ / shares			$ 0.01
Warrant term			7 years
Exercise price (in dollars per unit/share) | $ / shares			$ 0.01
MDB | Senior convertible notes
Organization and description of business
Payment of placement agent commission			$ 700,000
Resonant LLC | Founders
Organization and description of business
Warrants to purchase shares of common stock (in shares) | shares			124,998
Resonant LLC | Founders | Bridge loan warrants
Organization and description of business
Debt issued										$ 200,000
Resonant LLC | Founders | Class B units
Organization and description of business
Initial contributions				$ 200,000

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	Jun. 30, 2013USD ($)	Jun. 30, 2015USD ($)financial_institution	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)financial_institution	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Concentration Risks, Types, No Concentration Percentage [Abstract]
Number of financial institutions where the Company holds checking deposits | financial_institution		1		1
Investments
Expected dividend yield (as a percent)				0.00%
Deferred Finance Costs
Amortization of deferred financing costs		$ 0		$ 0
Income Taxes
Income tax penalties and interest accrued		0		0		$ 0
Income tax penalties and interest expense		0	$ 0	$ 0	$ 0
Minimum
Property and Equipment
Useful life (in years)				3 years
Maximum
Property and Equipment
Useful life (in years)				5 years
Foreign Debt Securities
Investments
Fair value of debt securities		5,000,000		$ 5,000,000
Foreign Debt Securities | Matures on August 3, 2015
Investments
Fair value of debt securities		2,000,000		2,000,000
Foreign Debt Securities | Matures on August 5, 2015
Investments
Fair value of debt securities		1,000,000		1,000,000
Foreign Debt Securities | Matures on October 22, 2015
Investments
Fair value of debt securities		2,000,000		2,000,000
Certificates of Deposit
Investments
Fair value of debt securities		3,000,000		3,000,000
Certificates of Deposit | Foreign Debt Securities
Investments
Investment income		8,000		16,000
Investment securities		0		0
Certificates of Deposit | Debt Securities
Investments
Amortized cost value of debt securities		8,000,000		8,000,000
Unrealized loss on debt securities		1,000		1,000
Fair value of debt securities		$ 8,000,000		$ 8,000,000
Senior convertible notes
Deferred Finance Costs
Amortization of deferred financing costs	$ 358,000		$ 0		$ 51,000

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Anti-Dilutive Shares Excluded from Calculation or EPS) (Details) - shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share, or EPS
Number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders	1,364,436	1,367,984
Common stock warrants
Earnings Per Share, or EPS
Number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders	804,436	991,484
Common stock options
Earnings Per Share, or EPS
Number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders	560,000	376,500

BRIDGE LOANS, MEMBER LOAN AND23

BRIDGE LOANS, MEMBER LOAN AND CONVERTIBLE DEBT (Details) - USD ($)	Jun. 03, 2014	Jun. 17, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2013	Jun. 03, 2015
Assumptions used in estimating fair value of warrants
Interest paid					$ 0	$ 404,000
Senior convertible notes
Bridge loans, member loan and convertible debt
Principal amount		$ 7,000,000
Net cash proceeds		$ 6,300,000
Interest rate (as a percent)		6.00%
Assumptions used in estimating fair value of warrants
Debt discount		$ 300,000
Conversion of convertible notes (in shares)	2,087,667
Interest paid	$ 404,000
Unamortized debt discounts								$ 780,000
Interest expense, excluding the unamortized debt discount				$ 289,000		728,000
Interest expense			$ 0		0
Senior convertible notes | Common Stock
Assumptions used in estimating fair value of warrants
Conversion of convertible notes (in shares)		2,087,667
Senior convertible notes | Senior Convertible Note Derivative Liability
Bridge loans, member loan and convertible debt
Derivative liability		$ 1,900,000
Equity value							$ 20,000,000
Assumptions used in estimating fair value of warrants
Volatility (as a percent)							102.10%
Risk free interest rate (as a percent)							0.19%
Senior convertible notes | Senior Convertible Note Derivative Liability | Minimum
Assumptions used in estimating fair value of warrants
Time to maturity (in months)							9 months
Senior convertible notes | Senior Convertible Note Derivative Liability | Maximum
Assumptions used in estimating fair value of warrants
Time to maturity (in months)							15 months
Senior convertible notes | MDB
Bridge loans, member loan and convertible debt
Payment of placement agent fee		700,000
Subordinated Convertible Note
Assumptions used in estimating fair value of warrants
Conversion of convertible notes (in shares)	700,000
Unamortized debt discounts				61,000		61,000
Interest expense, excluding the unamortized debt discount				$ 37,000		$ 90,000
Interest expense			0		0
Unpaid interest			$ 0		$ 0
Subordinated Convertible Note | Common Stock
Assumptions used in estimating fair value of warrants
Conversion of convertible notes (in shares)	700,000
Subordinated Convertible Note | STI
Bridge loans, member loan and convertible debt
Principal amount		$ 2,400,000
Interest rate (as a percent)		11.80%
Assumptions used in estimating fair value of warrants
Debt discount		$ 300,000
Number of shares or units against which debt is issued		300,000
Subordinated Convertible Note | Resonant LLC | STI
Assumptions used in estimating fair value of warrants
Number of shares or units against which debt is issued		100

WARRANT LIABILITIES (Details)

WARRANT LIABILITIES (Details)

Jun. 03, 2014USD ($)$ / sharesshares

Jun. 18, 2013USD ($)$ / shares

Jun. 17, 2013USD ($)$ / sharesshares

Oct. 31, 2014USD ($)$ / sharesshares

Aug. 31, 2014USD ($)$ / sharesshares

Mar. 31, 2013USD ($)$ / shares

Jan. 31, 2013USD ($)tranche$ / sharesshares

Jun. 30, 2015USD ($)founder$ / shares

Jun. 30, 2014USD ($)

Jun. 30, 2015USD ($)founder$ / shares

Jun. 30, 2014USD ($)

Jun. 16, 2013USD ($)

Dec. 31, 2013USD ($)

Mar. 31, 2014$ / shares

Mar. 19, 2013shares

Warrant liabilities

Number of founders | founder

3

3

Cash paid for warrants | $

$ 1,000

Assumptions used in estimating fair value of warrants

Share price (in dollars per share)

$ 6

Expected dividend yield (as a percent)

0.00%

Change in fair value of warrants | $

$ 252,000

$ 0

(382,000)

Stock-based compensation expense | $

$ 302,000

$ 500,000

675,000

$ 500,000

Monte Carlo option-valuation model

Assumptions used in estimating fair value of warrants

Trading days per year

252 days

Trading days per week

5 days

Holidays per year

8 days

Monte Carlo Valuation Assumption Weeks In Fiscal Year

364 days

MDB

Warrant liabilities

Warrant term

5 years

Exercise price (in dollars per unit/share)

$ 7.50

Warrants to purchase shares of common stock or units (in units/shares) | shares

310,500

IR Firm

Assumptions used in estimating fair value of warrants

Monthly cash compensation | $

$ 8,500

Bridge warrants | Founders

Warrant liabilities

Exercise price (in dollars per unit/share)

$ 0.20

Warrants to purchase shares of common stock or units (in units/shares) | shares

249,999

Bridge warrants | Founders | Black-Scholes option valuation model

Warrant liabilities

Fair value | $

$ 400,000

Assumptions used in estimating fair value of warrants

Exercise price (in dollars per unit/share)

$ 0.20

Share price (in dollars per share)

$ 3.23

Expected volatility (as a percent)

60.00%

Expected dividend yield (as a percent)

0.00%

Risk free interest rate (as a percent)

1.06%

Expected Life (in years)

5 years

Consulting warrant | IR Consultant

Warrant liabilities

Warrant term

4 years

Exercise price (in dollars per unit/share)

$ 6.50

Warrants to purchase shares of common stock or units (in units/shares) | shares

6,000

Assumptions used in estimating fair value of warrants

Monthly cash compensation | $

$ 5,000

Change in fair value of warrants | $

2,000

11,000

Vesting period

12 months

Stock-based compensation expense | $

$ (69,000)

$ (29,000)

Consulting warrant | IR Consultant | Black-Scholes option valuation model

Assumptions used in estimating fair value of warrants

Expected dividend yield (as a percent)

0.00%

Consulting warrant | IR Consultant | Black-Scholes option valuation model | Minimum

Assumptions used in estimating fair value of warrants

Exercise price (in dollars per unit/share)

$ 2.98

$ 2.98

Expected volatility (as a percent)

60.00%

Expected dividend yield (as a percent)

0.00%

Risk free interest rate (as a percent)

0.90%

Expected Life (in years)

3 years 9 months 18 days

Consulting warrant | IR Consultant | Black-Scholes option valuation model | Maximum

Assumptions used in estimating fair value of warrants

Exercise price (in dollars per unit/share)

$ 11.62

$ 11.62

Expected volatility (as a percent)

82.00%

Expected dividend yield (as a percent)

0.00%

Risk free interest rate (as a percent)

1.50%

Expected Life (in years)

3 years 3 months 18 days

Consulting warrant | MDB

Warrant liabilities

Warrant term

7 years

Exercise price (in dollars per unit/share)

$ 0.01

Warrants to purchase shares of common stock or units (in units/shares) | shares

222,222

Assumptions used in estimating fair value of warrants

Share price (in dollars per share)

$ 0.01

Exercisable period after the completion of our initial public offering

6 months

Consulting warrant | MDB | Black-Scholes option valuation model

Warrant liabilities

Fair value | $

$ 700,000

Assumptions used in estimating fair value of warrants

Exercise price (in dollars per unit/share)

$ 0.01

Share price (in dollars per share)

$ 3.23

Expected volatility (as a percent)

68.80%

Expected dividend yield (as a percent)

0.00%

Risk free interest rate (as a percent)

1.57%

Expected Life (in years)

7 years

Consulting warrant | IR Firm

Warrant liabilities

Warrant term

3 years

Exercise price (in dollars per unit/share)

$ 8.31

Warrants to purchase shares of common stock or units (in units/shares) | shares

42,000

Fair value | $

$ 10,000

$ 10,000

Assumptions used in estimating fair value of warrants

Change in fair value of warrants | $

$ 71,000

Consulting warrant | IR Firm | Black-Scholes option valuation model

Assumptions used in estimating fair value of warrants

Exercise price (in dollars per unit/share)

$ 2.98

$ 2.98

Expected volatility (as a percent)

60.00%

Expected dividend yield (as a percent)

0.00%

0.00%

Risk free interest rate (as a percent)

0.66%

Expected Life (in years)

2 years

Financing Warrant | Minimum

Assumptions used in estimating fair value of warrants

Share price (in dollars per share)

$ 5.59

Financing Warrant | MDB

Warrant liabilities

Warrant term

7 years

Exercise price (in dollars per unit/share)

$ 3.35

$ 3.35

Warrants to purchase shares of common stock or units (in units/shares) | shares

208,763

Assumptions used in estimating fair value of warrants

Share price (in dollars per share)

$ 3.35

Exercisable period after the completion of our initial public offering

6 months

Value of shares of common stock divided by exercise price of warrant's to determine exercisable warrants | $

$ 700,000

Amount considered for dividing the fully diluted shares prior to consummation of qualified IPO | $

$ 6,000,000

Financing Warrant | MDB | Black-Scholes option valuation model

Warrant liabilities

Fair value | $

$ 901,000

Assumptions used in estimating fair value of warrants

Share price (in dollars per share)

$ 6

Expected volatility (as a percent)

63.10%

Expected dividend yield (as a percent)

0.00%

Risk free interest rate (as a percent)

1.50%

Expected Life (in years)

5 years

Financing Warrant | MDB | Monte Carlo option-valuation model

Warrant liabilities

Fair value | $

$ 700,000

Assumptions used in estimating fair value of warrants

Expected volatility (as a percent)

65.30%

Risk free interest rate (as a percent)

2.28%

Expected Life (in years)

6 years 6 months

Equity value | $

$ 20,000,000

Underwriting Warrant | MDB

Warrant liabilities

Warrant term

5 years

Exercise price (in dollars per unit/share)

$ 7.50

Warrants to purchase shares of common stock or units (in units/shares) | shares

310,500

Assumptions used in estimating fair value of warrants

Warrants exercisable period from underwriting agreement

180 days

Resonant LLC | Founders

Warrant liabilities

Warrants to purchase shares of common stock or units (in units/shares) | shares

124,998

Cash paid for warrants | $

$ 1,000

Resonant LLC | Bridge warrants issued in January 2013 | Founders | Class B units

Warrant liabilities

Warrants to purchase shares of common stock or units (in units/shares) | shares

20,833

62,499

Resonant LLC | Bridge warrants issued in January 2013 | Founders | Black-Scholes option valuation model

Warrant liabilities

Warrant term

5 years

Exercise price (in dollars per unit/share)

$ 0.40

Number of tranches | tranche

2

Fair value | $

$ 200,000

Assumptions used in estimating fair value of warrants

Exercise price (in dollars per unit/share)

$ 0.40

Share price (in dollars per share)

$ 3.75

Expected volatility (as a percent)

60.00%

Expected dividend yield (as a percent)

0.00%

Risk free interest rate (as a percent)

0.88%

Expected Life (in years)

5 years

Resonant LLC | Bridge warrants issued in January 2013 | Founder one | Class B units

Warrant liabilities

Warrants to purchase shares of common stock or units (in units/shares) | shares

20,833

Resonant LLC | Bridge warrants issued in January 2013 | Founder two | Class B units

Warrant liabilities

Warrants to purchase shares of common stock or units (in units/shares) | shares

20,833

Resonant LLC | Bridge warrants issued in January 2013 | Founder three | Class B units

Warrant liabilities

Warrants to purchase shares of common stock or units (in units/shares) | shares

20,833

Resonant LLC | Bridge warrants issued in March 2013 | Founders | Class B units

Warrant liabilities

Warrants to purchase shares of common stock or units (in units/shares) | shares

62,499

Resonant LLC | Bridge warrants issued in March 2013 | Founders | Black-Scholes option valuation model

Warrant liabilities

Fair value | $

$ 200,000

Assumptions used in estimating fair value of warrants

Exercise price (in dollars per unit/share)

$ 0.40

Share price (in dollars per share)

$ 3.60

Expected volatility (as a percent)

60.00%

Expected dividend yield (as a percent)

0.00%

Risk free interest rate (as a percent)

0.80%

Expected Life (in years)

5 years

Resonant LLC | Bridge warrants issued in March 2013 | Founder one | Class B units

Warrant liabilities

Warrants to purchase shares of common stock or units (in units/shares) | shares

20,833

Resonant LLC | Bridge warrants issued in March 2013 | Founder two | Class B units

Warrant liabilities

Warrants to purchase shares of common stock or units (in units/shares) | shares

20,833

Resonant LLC | Bridge warrants issued in March 2013 | Founder three | Class B units

Warrant liabilities

Warrants to purchase shares of common stock or units (in units/shares) | shares

20,833

WARRANT LIABILITIES (Warrant Sh

WARRANT LIABILITIES (Warrant Share Activity) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 03, 2015	Jun. 03, 2014	Mar. 31, 2014	Jun. 18, 2013	Jun. 17, 2013
Roll forward of warrant activity
Balance at the beginning of the period	1,039,484	680,984
Warrants Issued	0	310,500
Warrants Exercised/Expired	(235,048)	0
Balance at the end of the period	804,436	991,484
Share price (in dollars per share)				$ 6
Initial Public Offering Price Per Share			$ 6
Exercise of warrants, cashless (in shares)	208,184
Bridge warrants | Founders
Roll forward of warrant activity
Balance at the beginning of the period	249,999	249,999
Warrants Issued	0	0
Warrants Exercised/Expired	0	0
Balance at the end of the period	249,999	249,999
Exercise price (in dollars per unit/share)							$ 0.20
Bridge warrants | Founders | Black-Scholes option valuation model
Roll forward of warrant activity
Share price (in dollars per share)						$ 3.23
Financing Warrant | Minimum
Roll forward of warrant activity
Share price (in dollars per share)					$ 5.59
IR consulting warrants
Roll forward of warrant activity
Balance at the beginning of the period	48,000
Warrants Issued	0
Warrants Exercised/Expired	0
Balance at the end of the period	48,000
MDB
Roll forward of warrant activity
Exercise price (in dollars per unit/share)				7.50
MDB | Consulting warrant
Roll forward of warrant activity
Balance at the beginning of the period	222,222	222,222
Warrants Issued	0	0
Warrants Exercised/Expired	(104,444)	0
Balance at the end of the period	117,778	222,222
Exercise price (in dollars per unit/share)							0.01
Share price (in dollars per share)							0.01
MDB | Consulting warrant | Black-Scholes option valuation model
Roll forward of warrant activity
Share price (in dollars per share)							3.23
MDB | Financing Warrant
Roll forward of warrant activity
Balance at the beginning of the period	208,763	208,763
Warrants Issued	0	0
Warrants Exercised/Expired	(130,604)	0
Balance at the end of the period	78,159	208,763
Exercise price (in dollars per unit/share)	$ 3.35
Share price (in dollars per share)							$ 3.35
MDB | Financing Warrant | Black-Scholes option valuation model
Roll forward of warrant activity
Share price (in dollars per share)				6
MDB | Underwriting Warrant
Roll forward of warrant activity
Balance at the beginning of the period	310,500	0
Warrants Issued	0	310,500
Warrants Exercised/Expired	0	0
Balance at the end of the period	310,500	310,500
Exercise price (in dollars per unit/share)				$ 7.50

STOCK-BASED COMPENSATION (Narra

STOCK-BASED COMPENSATION (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Jun. 03, 2014	Jan. 31, 2014	Dec. 31, 2013
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Share price (in dollars per share)						$ 6
Stock-based compensation expense	$ 302	$ 500	$ 675	$ 500
Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested employee stock option	1,400		1,400
Aggregate grant date fair value of options granted	$ 38	$ 1,200	$ 367	$ 1,200
Granted (in shares)	15,000	376,500	70,000	376,500
Vested (in shares)			72,222	106,891
Aggregate grant date fair value at end of the reporting period (in dollars)	$ 4.28	$ 4.01	$ 4.28	$ 4.01	$ 4.14			$ 0
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Share price (in dollars per share)	2.98		$ 2.98
Dividend Yield			0.00%	0.00%
Expected Volatility			60.00%	69.80%
Risk-free interest rate				2.00%
Weighted average period			2 years 10 months 24 days
Common stock options | Minimum
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Share price (in dollars per share)	4.13	6	$ 4.13	$ 6
Risk-free interest rate			1.44%
Expected Life			7 years	6 years 11 months 5 days
Common stock options | Maximum
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Share price (in dollars per share)	$ 12.98	$ 7.72	$ 12.98	$ 7.72
Risk-free interest rate			1.83%
Expected Life				7 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested employee stock option	$ 1,800		$ 1,800
Granted (in shares)			212,403
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Stock-based compensation expense	$ 175	$ 39,000,000	$ 421	$ 39
Weighted average period			3 years
Vested (in shares)	(6,411)	(6,410)	(26,919)	(1,381)
Surrendered by employees for payroll tax liabilities (in shares)	1,941		4,341
Performance Based Awards
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Stock-based compensation expense	$ 99		$ 196
Stock price measurement period			10 days
Performance bonus amount percentage of estimate	12.50%
2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock approved for issuance							1,400,000
2014 Omnibus Incentive Plan | Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award			10 years	10 years
2014 Omnibus Incentive Plan | Common stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower limit (in dollars per share)			$ 4.13	$ 6
2014 Omnibus Incentive Plan | Common stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, upper limit (in dollars per share)			$ 12.98	$ 7.20
Employees | Common stock options
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Stock-based compensation expense	$ 129	$ 250	$ 237	$ 250
Forfeitures rate	0.00%		0.00%
Consultants | Common stock options
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Stock-based compensation expense	$ (2)	$ 212	$ 17	$ 212
Employees and directors | Performance Based Awards | Minimum
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Bonus percentage			6.67%
Employees and directors | Performance Based Awards | Maximum
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Bonus percentage			13.34%
Non-executive employees | Performance Based Awards
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Bonus percentage			10.00%
Executive employees | Performance Based Awards | Minimum
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Bonus percentage			16.67%
Executive employees | Performance Based Awards | Maximum
Fair values of stock options granted, as estimated using Black-Scholes option valuation model assumptions:
Bonus percentage			25.00%

STOCK-BASED COMPENSATION (Estim

STOCK-BASED COMPENSATION (Estimated Fair Value of Stock Options) (Details) - Relationship to Entity [Domain] - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 03, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)			$ 6
Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)	$ 2.98
Dividend Yield	0.00%	0.00%
Expected Volatility	60.00%	69.80%
Risk-free interest rate		2.00%
Common stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)	$ 4.13	$ 6
Risk-free interest rate	1.44%
Expected Life	7 years	6 years 11 months 5 days
Common stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)	$ 12.98	$ 7.72
Risk-free interest rate	1.83%
Expected Life		7 years

STOCK-BASED COMPENSATION (Stock

STOCK-BASED COMPENSATION (Stock Option Award Activity) (Details) - Common stock options - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Number of Options outstanding
Outstanding at the beginning of the year (in shares)			491,200	0	0
Granted (in shares)	15,000	376,500	70,000	376,500
Forfeited (in shares)			(1,200)	0
Outstanding at the end of the reporting period (in shares)	560,000	376,500	560,000	376,500	491,200
Number of Options Exercisable
Exercisable at the beginning of the year (in shares)			142,895	0	0
Vested (in shares)			(72,222)	(106,891)
Forfeited (in shares)			0	0
Exercisable at the end of the reporting period (in shares)	215,117	106,891	215,117	106,891	142,895
Weighted Average Exercise Price Outstanding
Outstanding at the beginning of period (in dollars per share)			$ 6.13	$ 0	$ 0
Granted (in dollars per share)			8.84	6
Forfeited (in dollars per share)			8.06	0
Outstanding at the end of the reporting period (in dollars per share)	$ 6.46	$ 6	6.13	0	0
Weighted Average Exercise Price Exercisable
Exercisable at the beginning of the reporting period (in dollars per share)			6.02	0	0
Vested exercisable (in dollars per share)			6.48	6
Forfeited (in dollars per share)			0
Exercisable at the end of the reporting period (in dollars per share)	6.17	6	6.17	6	6.02
Weighted Average Grant Date Fair Value Outstanding
Outstanding at the beginning of the reporting period (in dollars per share)			4.14	0	0
Options granted (in dollars per share)			5.24	4.01
Forfeited (in dollars per share)			5.19	0
Outstanding at the end of the reporting period (in dollars per share)	4.28	4.01	4.28	4.01	4.14
Weighted Average Grant Date Fair Value Exercisable
Exercisable at the beginning of the reporting period (in dollars per share)			4.01	0	0
Vested options exercisable (in dollars per share)			4.22	4.01
Forfeited options exercisable (in dollars per share)			0	0
Exercisable at the end of the reporting period (in dollars per share)	$ 4.08	$ 4.01	$ 4.08	$ 4.01	$ 4.01
Weighted Average Remaining Life In Years Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2			9 years 11 days	9 years 10 months 28 days	9 years 5 months 1 day
Granted (in years)			9 years 8 months 27 days	9 years 10 months 28 days
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2			9 years 11 days	9 years 10 months 28 days	9 years 5 months 1 day
Weighted Average Remaining Life Exercisable
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1			8 years 10 months 13 days	9 years 10 months 28 days
Vested			8 years 9 months 15 days	9 years 10 months 28 days	9 years 4 months 28 days
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1			8 years 10 months 13 days	9 years 10 months 28 days
Total Grant Date Fair Value Outstanding
Outstanding at the beginning of the reporting period			$ 2,034,000	$ 0	$ 0
Granted			367,000	1,525,000
Forfeited			(6,000)	0
Outstanding at the end of the period	$ 2,395,000	$ 1,525,000	2,395,000	1,525,000	2,034,000
Total Grant Date Fair Value Exercisable
Exercisable at the beginning of the reporting period			574,000	0	0
Vested			278,000	462,000
Forfeited			0	0
Exercisable at the end of the reporting period	$ 852,000	$ 462,000	$ 852,000	$ 462,000	$ 574,000

STOCK-BASED COMPENSATION (Sto29

STOCK-BASED COMPENSATION (Stock Options Outstanding and Exercisable) (Details) - Common stock options - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Stock Options	560,000	376,500	491,200	0
Weighted Average Remaining Life In Years	8 years 10 months 13 days	9 years 10 months 28 days
Exercisable Number of Stock Options	215,117	106,891	142,895	0
$4.13 – $6.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Stock Options	384,000
Weighted Average Remaining Life In Years	8 years 10 months 6 days
Exercisable Number of Stock Options	191,110
$4.13 – $6.00 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 4.13
$4.13 – $6.00 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 6
$6.49 – $6.97
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Stock Options	47,500
Weighted Average Remaining Life In Years	9 years 2 months 9 days
Exercisable Number of Stock Options	8,753
$6.49 – $6.97 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 6.49
$6.49 – $6.97 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 6.97
$7.20 – $8.06
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Stock Options	98,500
Weighted Average Remaining Life In Years	8 years 9 months 29 days
Exercisable Number of Stock Options	13,378
$7.20 – $8.06 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 7.20
$7.20 – $8.06 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 8.06
$11.44 – $12.98
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Stock Options	30,000
Weighted Average Remaining Life In Years	9 years 7 months 24 days
Exercisable Number of Stock Options	1,876
$11.44 – $12.98 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 11.44
$11.44 – $12.98 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 12.98

STOCK-BASED COMPENSATION Restri

STOCK-BASED COMPENSATION Restricted Stock Activity (Details) - Restricted stock units - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Restricted Share Units
Outstanding at beginning of year (in shares)			131,267
Granted (in shares)			212,403
Vested (in shares)	(6,411)	(6,410)	(26,919)	(1,381)
Outstanding at end of year (in shares)	316,751		316,751
Restricted Share Weighted Average Grant Date Fair Value
Outstanding at beginning of year (in dollars per share)			$ 6
Granted (in dollars per share)			7.40
Vested (in dollars per share)			6.42
Outstanding at end of year (in dollars per share)	$ 6.90		$ 6.90

STOCK-BASED COMPENSATION (Equit

STOCK-BASED COMPENSATION (Equity Based Compensation Schedule) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Allocation of stock-based compensation expense
Stock-based compensation expense	$ 302	$ 500	$ 675	$ 500
Research and development expenses | Employees
Allocation of stock-based compensation expense
Stock-based compensation expense	131	166	307	166
Research and development expenses | Non-employees
Allocation of stock-based compensation expense
Stock-based compensation expense	2	45	19	45
General and administrative expenses | Non-employees
Allocation of stock-based compensation expense
Stock-based compensation expense	1	181	21	181
General and administrative expenses | Employees and directors
Allocation of stock-based compensation expense
Stock-based compensation expense	$ 168	$ 108	$ 328	$ 108

FAIR VALUE MEASUREMENTS AND D32

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Option-Valuation Model) (Details) - $ / shares	Jun. 03, 2014	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
Assumptions used to estimate fair value
Expected dividend yield (as a percent)				0.00%
Share price (in dollars per share)	$ 6
Financing Warrant
Assumptions used to estimate fair value
Probability of a Capital Raise (as a percent)		0.00%
Monte Carlo option-valuation model | Financing Warrant
Assumptions used to estimate fair value
Expected Life (in years)					6 years 3 months
Risk Free Rate (as a percent)					2.09%
Volatility (as a percent)					69.90%
Probability of a Capital Raise (as a percent)					0.00%
Monte Carlo option-valuation model | Financing Warrant | Minimum
Assumptions used to estimate fair value
Expected Life (in years)		6 years 3 months
Risk Free Rate (as a percent)		2.09%
Volatility (as a percent)		69.90%
Monte Carlo option-valuation model | Senior Convertible Note Derivative Liability
Assumptions used to estimate fair value
Expected Life (in years)					6 months
Risk Free Rate (as a percent)					0.13%
Volatility (as a percent)					96.30%
Monte Carlo option-valuation model | Senior Convertible Note Derivative Liability | Minimum
Assumptions used to estimate fair value
Expected Life (in years)		6 months
Risk Free Rate (as a percent)		0.13%
Volatility (as a percent)		96.30%
Probability of a Capital Raise (as a percent)		80.00%
Monte Carlo option-valuation model | Senior Convertible Note Derivative Liability | Maximum
Assumptions used to estimate fair value
Probability of a Capital Raise (as a percent)		95.00%
Black-Scholes option valuation model | Remaining warrant liabilities
Assumptions used to estimate fair value
Expected dividend yield (as a percent)	0.00%		0.00%
Black-Scholes option valuation model | Remaining warrant liabilities | Minimum
Assumptions used to estimate fair value
Expected Life (in years)	3 years 6 months 29 days		3 years 9 months 29 days
Risk Free Rate (as a percent)	1.25%		1.32%
Volatility (as a percent)	64.00%		64.30%
Black-Scholes option valuation model | Remaining warrant liabilities | Maximum
Assumptions used to estimate fair value
Expected Life (in years)	5 years 11 months 12 days		6 years 3 months
Risk Free Rate (as a percent)	2.31%		2.02%
Volatility (as a percent)	69.60%		69.80%

FAIR VALUE MEASUREMENTS AND D33

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Liabilities Measured at Fair Value Using Level 3 Significant Unobservable Inputs) (Details) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2014
Warrant Liabilities
Reconciliation of all liabilities
Increase to Additional paid-in capital	$ 0	$ 3,700,000
Warrant Liabilities | Other income
Reconciliation of all liabilities
Change in fair value		252,000	$ (382,000)
Significant Unobservable Inputs (Level 3) | Warrant Liabilities
Reconciliation of all liabilities
Balance at beginning of the period		0	3,276,000	$ 3,276,000
Change in fair value			382,000
Write-off due to conversion and IPO			(3,658,000)
Significant Unobservable Inputs (Level 3) | Senior Convertible Note Derivative Liability
Reconciliation of all liabilities
Balance at beginning of the period		0	5,057,000	5,057,000
Change in fair value			1,633,000
Write-off due to conversion and IPO			(6,690,000)
Significant Unobservable Inputs (Level 3) | Senior Convertible Note Derivative Liability | Other income
Reconciliation of all liabilities
Change in fair value				1,200,000
Write-off due to conversion and IPO		$ 0	$ 1,600,000
Balance at end of the period	$ 0
Increase to Additional paid-in capital				$ 5,500,000

COMMITMENT AND CONTINGENCIES (N

COMMITMENT AND CONTINGENCIES (Narrative) (Details) - USD ($)	Aug. 01, 2014	May. 30, 2015	Apr. 30, 2014	Nov. 30, 2013	Oct. 31, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2014
Operating Leases
Rent expense						$ 38,000	$ 26,000	$ 75,000	$ 51,000
Legal expenses incurred								22,000
Loss contingency accrual						$ 0		0		$ 0
Loss in period								$ 0	$ 0
Corporate Headquarters
Operating Leases
Term of lease					38 months
Renewal term of the lease			3 years
Tenant improvement allowance			$ 72,000
Additional tenant improvement allowance			$ 38,000
Monthly rental payments	$ 8,286				$ 5,412
Increase in rental payments (as a percent)					3.00%
Period after which monthly rental increases					14 months
Monthly operating cost	$ 3,154				$ 2,101
Satellite development office
Operating Leases
Term of lease				2 years
Renewal term of the lease		1 year
Rent expense		$ 4,925		$ 4,169