Atomera(US:ATOM)2024-04-30 20:02Financial Performance - Revenue for the three months ended March 31, 2024, was approximately $18,000, compared to $0 for the same period in 2023[72]. - Cost of revenue for the three months ended March 31, 2024, was approximately $33,000, compared to $0 for the same period in 2023[74]. - Operating expenses for the three months ended March 31, 2024, totaled approximately $5.0 million, a slight decrease from $5.2 million in 2023[75]. - Research and development expenses for the three months ended March 31, 2024, were approximately $2.9 million, down 6% from $3.0 million in 2023[76]. - General and administrative expenses increased to approximately $1.8 million for the three months ended March 31, 2024, from $1.7 million in 2023, representing a 4% increase[77]. - Selling and marketing expenses decreased to approximately $350,000 for the three months ended March 31, 2024, from $389,000 in 2023, a decrease of 10%[78]. - Net cash used in operating activities was approximately $4.1 million for the three months ended March 31, 2024, compared to $4.2 million in 2023[80][82]. Cash Position - As of March 31, 2024, the company had cash and cash equivalents of approximately $14.8 million and working capital of approximately $16.8 million[84]. Licensing Agreement - The company entered into a license agreement with ST Microelectronics in April 2023, which includes milestone payments and royalties on MST-enabled products[69]. Share Offering - Approximately 510,000 shares were sold under the ATM offering at an average price of $8.06, resulting in approximately $4.0 million of net proceeds for the three months ended March 31, 2024[70][84].