Atomera (NasdaqCM:ATOM) Q3 2025 Earnings Call October 28, 2025 05:00 PM ET Speaker4Hello, everyone, and welcome to Atomera's third quarter 2025 update call. I'd like to remind everyone that this call and webinar are being recorded, and a replay will be available on Atomera's IR website for one year. I'm Mike Bishop with the company's investor relations. As in prior quarters, we are using Zoom, and we will follow a similar presentation format with participants in a listen-only mode. We will open with prepare ...

Company Overview - Atomera Incorporated focuses on Mears Silicon Technology (MST®), a quantum-engineered material designed to enhance transistor performance in the semiconductor market[5,6] - The company operates with a high-leverage IP licensing business model and possesses a strong patent portfolio[6] - MST technology targets advanced nodes, DRAM, RF-SOI, and power applications[7] Financial Performance (Q3 2025) - Revenue for the three months ended September 30, 2025, was $11 thousand, compared to $22 thousand for the three months ended September 30, 2024[11] - Operating loss for the quarter was $(5,793) thousand, compared to $(4,800) thousand in the same period last year[11] - Net loss was $(5,573) thousand, or $(0.19) per share, compared to a net loss of $(4,595) thousand, or $(0.17) per share, in Q3 2024[11] - Adjusted EBITDA (Non-GAAP) was $(4,440) thousand, or $(0.14) per share[11] - Cash, equivalents, and short-term investments totaled $20,322 thousand as of September 30, 2025[11] Strategic Focus - The company aims to improve customer products through MST integration, benefiting both parties financially[12] - MST can be used in starting wafers for RFSOI, GaN, and Next Gen DRAM, offering easier integration and faster time to revenue[9] - MST also targets high-volume potential products like GAA Logic, DRAM, Power, and Flash memory, which involve longer integration but offer higher revenue potential[9]

Exhibit 99.1 Atomera Provides Third Quarter 2025 Results LOS GATOS, Calif. Oct. 28, 2025 Atomera Incorporated (NASDAQ: ATOM), a semiconductor materials and technology licensing company, today provided a corporate update and announced financial results for the third quarter ended Sept. 30, 2025. Third Quarter 2025 Results Webinar Atomera will host a live video webinar today to discuss its financial results and recent progress. Date: Tuesday, Oct. 28, 2025 Time: 2:00 p.m. PT (5:00 p.m. ET) Webcast: Accessible ...

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Core Viewpoint - Atomera Incorporated plans to release its third quarter 2025 financial results on October 28, 2025, after market close, indicating ongoing transparency and communication with investors [1] Company Summary - Atomera is a semiconductor materials and technology licensing company, highlighting its focus on innovation within the semiconductor industry [1] - The company will host a live video Zoom webinar at 2:00 p.m. on the same day as the financial results release, providing an opportunity for stakeholders to engage directly [1]

Core Viewpoint - Atomic Minerals Corporation has expanded its Mozzie Lake project by acquiring additional claims, enhancing its exploration potential in the uranium-rich region of northern Saskatchewan [1][2]. Acquisition Details - The company acquired 5 claims totaling 20,743.5 hectares, increasing the Mozzie Lake project area to 26,073.5 hectares [1]. - The acquisition terms include a payment of $20,000, issuance of 2,000,000 common shares, 1,000,000 warrants exercisable at $0.10 for two years, and a 2% gross overriding royalty on future production [5]. Historical Estimates - Previous drilling programs in 1967 and 1968 identified an estimated 208,300 tons grading 0.118% triuranium octoxide, equating to approximately 491,588 pounds of U3O8 [2][3]. - The historic estimate is considered relevant and reliable, classified as drill indicated, comparable to an inferred resource, but requires further drilling to upgrade its classification [3]. Advisory Board Appointment - Mr. Jody Dahrouge has been appointed to the Advisory Board, bringing over 30 years of experience in mineral exploration, particularly in uranium [6][7]. - His expertise is expected to enhance the company's exploration efforts in both the Athabasca region and U.S. projects [9]. Company Overview - Atomic Minerals Corporation is publicly listed on the TSXV under the symbol ATOM, focusing on exploration opportunities in underexplored regions with geological similarities to past uranium discoveries [11]. - The company's portfolio includes uranium projects in the Colorado Plateau and the Athabasca region, which have historically produced significant amounts of U3O8 [12].

Group 1 - Atomera Incorporated will present research on Mears Silicon Technology (MST) [1] - The presentation will take place on September 15 & 16, 2025 [1] - The event will be held at the Santa Fe Convention Center in New Mexico [1]

Business Overview - Atomera focuses on Mears Silicon Technology (MST®), a quantum engineered material, for transistor enhancement in the $600 billion semiconductor market[5,6] - The company operates with a high leverage IP licensing business model[6] - Atomera has a strong and growing patent portfolio[6] Customer Engagement - Atomera is engaged with 20 customers across 26 engagements, including over half of the world's top semiconductor makers[12] - At least 10 of the top 20 semiconductor sales leaders with fabs are Atomera's customers[10] - Customer engagements are categorized into phases from planning to production[7] Technology Focus - MST technology is focused on advanced nodes, RF-SOI, power applications, and DRAM[13] - MST can help deliver lower power LNAs (Low Noise Amplifiers) for leading handset makers[17] Intellectual Property - Atomera has 402 patents issued and pending[19] - The patent portfolio includes 114 US patents and 121 foreign patents issued, plus 167 pending patents[20] Financial Performance (Q2 2025) - Revenue was $0 thousand for the three months ended June 30, 2025, compared to $72 thousand for the three months ended June 30, 2024[25] - Net loss was $(4,967) thousand, or $(0.17) per share[25] - Cash, equivalents, and short-term investments totaled $22,026 thousand[25]

Core Insights - Atomera reported a wider-than-expected GAAP net loss of $(0.17) per share for Q2 2025, compared to analyst expectations of $(0.14) [1][5] - The company’s revenue was $0, down from $72,000 in the prior year, indicating a 100% year-over-year decline [2][5] - Cash and cash equivalents stood at $22.0 million at the end of the quarter, reflecting ongoing negative cash flow [1][10] Financial Performance - GAAP EPS was $(0.17), a 6.3% increase in loss compared to $(0.16) in Q2 2024 [2] - Adjusted EBITDA was $(4.0 million), worsening from $(3.6 million) year-over-year, indicating an 11.1% increase in losses [2] - Operating expenses rose to $5.2 million from $4.6 million in the prior year, driven by increased R&D and administrative costs [5] Business Overview and Strategy - Atomera develops Mears Silicon Technology (MST), aimed at enhancing semiconductor chip performance and efficiency [3] - The business model focuses on licensing MST to major semiconductor manufacturers, with the goal of generating royalties [3] - The company is prioritizing partnerships and intellectual property protection to facilitate MST's industry adoption [4] Operational Developments - Atomera signed a strategic agreement with a leading chip fabrication equipment vendor to support MST deployment, aiming to accelerate licensing deals [6] - The company achieved a milestone of 400 issued and pending patents, up from about 270 at the end of 2024, emphasizing its focus on intellectual property [7] - Atomera completed the first MST-enabled gallium nitride (GaN) devices, which are undergoing electrical testing to demonstrate performance improvements [7] Future Outlook - Management did not provide formal revenue or earnings guidance for the upcoming quarters, citing unresolved customer qualification steps [9] - Non-GAAP operating expenses are projected to be between $17.25 million and $17.75 million for the year [9] - Investors are advised to monitor developments such as new commercial license signings and customer qualifications, particularly with STMicroelectronics [10]

Financial Data and Key Metrics Changes - The GAAP net loss for Q2 2025 was $5 million, or $0.17 per share, compared to a net loss of $4.4 million in Q2 2024, which was $0.16 per share [20] - GAAP operating expenses in Q2 2025 were $5.2 million, an increase of $565,000 from $4.6 million in Q2 2024 [20] - Non-GAAP net loss in Q2 2025 was $4 million, compared to a loss of $3.6 million in Q2 2024 [21] - Cash and cash equivalents as of June 30, 2025, were $22 million, down from $24.1 million as of March 31, 2025 [22] Business Line Data and Key Metrics Changes - The company is experiencing higher wafer activity due to multiple ongoing initiatives and customer engagements [4] - Significant customer interest in MST technology has been noted, with many licensees conducting demo runs [7][9] - The transition to 300mm wafers by ST Micro is expected to delay process qualification but presents a significant revenue potential [5][6] Market Data and Key Metrics Changes - The semiconductor industry is seeing macro factors that favor Atomera's product initiatives, leading to increased wafer activity [4] - The company is expanding its focus from GaN for power to include GaN for RF, indicating a strategic shift to capture growth in RF applications [11] Company Strategy and Development Direction - Atomera aims to enable new capabilities for electronic devices through innovative solutions that address industry challenges [24] - The company is actively engaging with top semiconductor manufacturers to convert current engagements into commercial success [24] - Atomera has joined the National Semiconductor Technology Center to contribute to U.S. semiconductor technology leadership and reduce prototyping costs [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a high level of customer engagement and the potential for several agreements to materialize soon [18] - The company is focused on improving yields and performance in advanced nodes, which is critical for customer adoption [10] - Management believes that the current level of innovation and patent filings positions Atomera favorably in the market [15] Other Important Information - The company has exceeded 400 issued and pending patents, marking a significant milestone [16] - Atomera is making progress in hiring additional team members to support increased customer activity [19] Q&A Session Summary Question: What is the impact of the delay with STMicro on the transition to 300mm wafers? - Management indicated that prior work with STMicro will be beneficial for the transition to 300mm wafers, and they are confident in moving forward quickly once the necessary tools are in place [28][29] Question: How are other customers reacting to the STMicro situation? - Management noted that while the STMicro delay is specific, other customers are already starting their projects with 300mm wafers, indicating a low risk of industry-wide setbacks [60] Question: Can you elaborate on the transformative customers mentioned? - Management described one customer conducting a large-scale demo run, which is expected to yield significant insights and learning cycles [41][42] Question: What is the status of the collaboration with the unnamed equipment vendor? - Management confirmed ongoing discussions and weekly meetings to define customer engagement strategies and application areas [51][52] Question: What are Atomera's plans regarding the data center market? - The company is targeting the data center market with its MST SPX and gallium nitride technologies, which are expected to enhance power efficiency [67] Question: Are there updates on contract discussions with memory customers? - Management refrained from commenting on specific contract discussions but confirmed ongoing efforts to develop new IP for memory device structures [71][72]