Atomera(US:ATOM)2026-02-24 22:09Revenue and Expenses - Revenue for the year ended December 31, 2025 was approximately $65,000, a decrease of 52% compared to $135,000 in 2024[145] - Cost of revenue increased to approximately $321,000 in 2025 from $123,000 in 2024, reflecting a significant rise in expenses[146] - Operating expenses totaled approximately $20.9 million in 2025, up from $19.3 million in 2024, marking an increase of approximately 8%[147] - Research and development expenses rose to approximately $12.3 million in 2025, an increase of approximately $1.3 million, or 12%, compared to $11.0 million in 2024[149] - General and administrative expenses increased to approximately $7.8 million in 2025, up by approximately $540,000, or 7%, from $7.3 million in 2024[150] - Selling and marketing expenses decreased to approximately $758,000 in 2025, down by approximately $295,000, or 28%, from $1.1 million in 2024[151] Financial Position - As of December 31, 2025, cash and cash equivalents were approximately $19.2 million, with working capital of approximately $17.6 million[155] - The company incurred a net loss of approximately $20.2 million for the year ended December 31, 2025[155] Cash Flow Activities - Net cash provided in investing activities for the year ended December 31, 2025 was approximately $951,000, primarily from the maturity of short-term available-for-sale investments[160] - Net cash provided by financing activities for the year ended December 31, 2025 was approximately $7.4 million, mainly from net proceeds from the ATM Facility[161] - Net cash provided by financing activities for the year ended December 31, 2024 was approximately $20.3 million, primarily from net proceeds from the ATM Facility[162] Stock and Compensation - The company has stock-based compensation programs including RSAs, RSUs, and stock options, with fair value determined at the grant date and amortized over the vesting period[165] - The fair value of performance-based restricted stock units is fixed at the grant date using a Monte Carlo simulation[165] - The company’s stock option awards are valued using the Black-Scholes Option Pricing Model[165] Dividends and Interest - The expected dividend rate is 0% as the company has not declared or paid dividends and has no plans to do so[167] - Interest income for 2025 was approximately $931,000, an increase of approximately $152,000, or 20%, compared to $779,000 in 2024[152] Accounting Policies - The company’s financial statements are prepared in accordance with U.S. generally accepted accounting principles, requiring judgment in making estimates and assumptions[163] - Lease liabilities and ROU assets are recognized for all leases greater than 12 months based on the present value of lease payments[164] - The risk-free interest rate for stock awards is based on U.S. Treasury securities yields with maturities similar to the expected terms of the awards[167] Capital Raising - The company closed a registered direct offering on February 24, 2026, raising approximately $23.6 million in net proceeds from the sale of 5,000,000 shares at $5.00 per share[155]