Atomera(ATOM) - 2025 Q2 - Quarterly Results

Executive Summary & Recent Developments This section presents Atomera's Q2 2025 financial results, management commentary, recent highlights, and non-GAAP financial measure explanations Company Overview & Q2 2025 Announcement Atomera Incorporated, a semiconductor materials and technology licensing company, announced its financial results and provided a corporate update for the second quarter ended June 30, 2025 - Atomera Incorporated is a semiconductor materials and technology licensing company[2] - The company announced financial results for the second quarter ended June 30, 2025[2] Management Commentary President and CEO Scott Bibaud noted growing interest from potential customers and significant customer wafer run activity across multiple technologies, expressing confidence in future commercial agreements - Management is seeing growing interest from potential customers[3] - Atomera is experiencing heavy customer wafer run activity across multiple technologies, expected to lead to future commercial agreements[3] Recent Company Highlights Atomera announced a strategic collaboration with Incize for GaN-on-Si technology, joined the National Semiconductor Technology Center, and reached 400 issued and pending patents - Announced a strategic collaboration with Incize to advance GaN-on-Si technology for next-gen RF and power devices[7] - Joined National Semiconductor Technology Center to accelerate U.S. chip innovation[7] - Reached 400 issued and pending patents in its intellectual property portfolio[7] Financial Highlights (Q2 2025 Summary) Atomera reported an increased net loss and Adjusted EBITDA loss in Q2 2025 compared to Q2 2024, with a decrease in cash and cash equivalents since year-end 2024 | Metric | Q2 2025 | Q2 2024 | Change (YoY) | | :-------------------------- | :---------- | :---------- | :----------- | | Net Loss | ($5.0) million | ($4.4) million | ($0.6) million increase | | Net Loss per Share | ($0.17) | ($0.16) | ($0.01) increase | | Adjusted EBITDA Loss | ($4.0) million | ($3.6) million | ($0.4) million increase | | Cash & Cash Equivalents (as of period end) | $22.0 million (June 30, 2025) | $25.8 million (Dec 31, 2024) | ($3.8) million decrease | | Shares Outstanding (as of period end) | 31.1 million (June 30, 2025) | N/A | N/A | Non-GAAP Financial Measures Explanation Atomera presents Adjusted EBITDA as a non-GAAP financial measure, calculated by adjusting net loss for interest, depreciation, amortization, and stock-based compensation, to provide a more focused view of operating results - Adjusted EBITDA is a non-GAAP financial measure derived from net loss by eliminating interest, depreciation, amortization, and stock-based compensation[6] - This metric is used internally to evaluate operations and management performance and is believed to provide useful information to investors[6] Q2 2025 Results Webinar Atomera hosted a live video webinar on August 5, 2025, to discuss its Q2 2025 financial results and recent progress - A live video webinar was hosted on August 5, 2025, at 2:00 p.m. PT (5:00 p.m. ET)[6] - The webcast was accessible at https://ir.atomera.com[6](index=6&type=chunk) About Atomera Incorporated This section details Atomera's business as a semiconductor materials and technology licensing company and includes a safe harbor statement for forward-looking information Company Description Atomera Incorporated is a semiconductor materials and technology licensing company focused on its proprietary Mears Silicon Technology™ (MST), which enhances performance and power efficiency in semiconductor transistors and is compatible with existing manufacturing equipment - Atomera is a semiconductor materials and technology licensing company focused on deploying its proprietary, silicon-proven technology[8] - The company developed Mears Silicon Technology™ (MST), which increases performance and power efficiency in semiconductor transistors[8] - MST can be implemented using equipment already deployed in semiconductor manufacturing facilities and is complementary to other nano-scaling technologies[8] Safe Harbor Statement The press release contains forward-looking statements subject to known and unknown risks, including those related to revenue generation, successful completion of joint development agreements, licensing advancements, capital raising, and intellectual property protection - Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially[9] - Key risks include minimal recognized revenues, uncertainty of STMicroelectronics qualification, ability to complete joint development agreements, advance licensing arrangements, raise sufficient capital, and protect proprietary technology[9] Financial Statements This section provides Atomera's condensed balance sheets, statements of operations, and a reconciliation of GAAP net loss to non-GAAP Adjusted EBITDA Condensed Balance Sheets As of June 30, 2025, Atomera reported a decrease in cash and cash equivalents and total assets compared to December 31, 2024, while total liabilities also decreased | Metric (in thousands) | June 30, 2025 | March 31, 2025 | December 31, 2024 | | :-------------------------- | :------------ | :------------- | :---------------- | | Cash and cash equivalents | $22,026 | $24,123 | $25,778 | | Total current assets | $22,748 | $24,539 | $27,092 | | Total assets | $24,084 | $26,252 | $29,124 | | Total current liabilities | $2,793 | $2,856 | $3,576 | | Total liabilities | $2,793 | $2,969 | $4,047 | | Total stockholders' equity | $21,291 | $23,283 | $25,077 | Condensed Statements of Operations For Q2 2025, Atomera reported no revenue, a net loss of ($5.0) million, and a net loss per share of ($0.17), with increased R&D and G&A expenses compared to Q2 2024 | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Revenue | $0 | $72 | $4 | $90 | | Gross margin | ($62) | ($2) | ($58) | ($17) | | Research and development | $3,004 | $2,589 | $6,259 | $5,447 | | General and administrative | $2,048 | $1,832 | $4,136 | $3,643 | | Selling and marketing | $141 | $207 | $265 | $557 | | Total operating expenses | $5,193 | $4,628 | $10,660 | $9,647 | | Loss from operations | ($5,255) | ($4,630) | ($10,718) | ($9,664) | | Net loss | ($4,967) | ($4,361) | ($10,176) | ($9,183) | | Net loss per common share, basic and diluted | ($0.17) | ($0.16) | ($0.34) | ($0.35) | Reconciliation to Non-GAAP EBITDA Atomera's Adjusted EBITDA loss for Q2 2025 was ($4.0) million, an increase from ($3.6) million in Q2 2024, reflecting the adjustments made to GAAP net loss | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net loss (GAAP) | ($4,967) | ($4,361) | ($10,176) | ($9,183) | | Depreciation and amortization | $12 | $13 | $24 | $30 | | Stock-based compensation | $1,278 | $987 | $2,287 | $2,011 | | Interest income | ($234) | ($185) | ($504) | ($390) | | Accretion income | $0 | ($47) | ($6) | ($93) | | Interest expense | $18 | $35 | $39 | $74 | | Other income, net | ($72) | ($72) | ($71) | ($72) | | Net loss non-GAAP EBITDA | ($3,965) | ($3,630) | ($8,407) | ($7,623) | Additional Information This section provides contact information for investor relations inquiries Investor Relations Contact Investor inquiries can be directed to Mike Bishop at Bishop IR - Investor Contact: Bishop IR, Mike Bishop, (415) 894-9633, investor@atomera.com[17]