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]

Core Viewpoint - The article discusses the critical role of different types of DRAM in meeting the growing computational demands of artificial intelligence (AI), emphasizing the importance of memory bandwidth and access protocols in optimizing system performance [1][4]. DRAM Types and Characteristics - Synchronous DRAM (SDRAM) is categorized into four main types: DDR, LPDDR, GDDR, and HBM, each with distinct applications and advantages [1][2]. - DDR memory is optimized for complex operations and is commonly used with CPUs, offering the fastest latency and moderate bandwidth [1]. - Low Power DDR (LPDDR) is designed to reduce power consumption while maintaining performance, making it suitable for mobile and battery-powered devices [2][14]. - Graphics DDR (GDDR) is tailored for GPU applications, providing higher bandwidth than DDR but with higher latency [2][17]. - High Bandwidth Memory (HBM) utilizes wide bus stacks to deliver extremely high bandwidth, essential for data-intensive tasks like AI training and high-performance computing [2][7]. Market Dynamics and Trends - HBM is primarily utilized in data centers due to its high cost and power consumption, limiting its application in cost-sensitive edge devices [7][8]. - The trend is shifting towards hybrid memory solutions, combining HBM with LPDDR or GDDR to balance performance and cost [8][19]. - LPDDR is gaining traction in various systems, especially in mobile and automotive applications, due to its excellent power-to-performance ratio [14][15]. - GDDR is often overlooked in AI systems despite its high throughput, as it does not meet the specific needs of many applications [17]. Future Developments - LPDDR5X has been launched, meeting many application requirements, while LPDDR6 is anticipated to enhance performance further [19]. - HBM4 is expected to double the bandwidth and channel count compared to HBM3, with a release planned for 2026 [20]. - The development of custom HBM solutions is emerging, allowing bulk buyers to collaborate with manufacturers for optimized performance [8]. Geopolitical Considerations - Geopolitical factors are influencing the availability and adoption of HBM, particularly in regions like China, which may limit access to advanced memory technologies [8].

Group 1 - The core viewpoint of the news is that Zhejiang Liji Storage Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC (Hong Kong) as the sole sponsor [1] - Liji Storage was established in 2020, focusing on the potential of DRAM, and has a history of investment from Longxin Zhongke [1] - The company has undergone multiple rounds of capital increases and share transfers, with a valuation of 1.235 billion yuan in March 2025 [1] Group 2 - Liji Storage is a memory chip design company and AI computing solution provider, with a complete product line from SDR to DDR4, focusing on the niche DRAM market [2] - The company reported revenues of 610 million yuan, 580 million yuan, and 646 million yuan for 2022-2024, with losses of 139 million yuan, 244 million yuan, and 109 million yuan respectively [2] - The gross profit margins for the same period were -2.1%, 3.7%, and 9.3%, indicating a gradual improvement in profitability [2] Group 3 - The memory chip market is highly competitive and increasingly so, which poses risks to the company's business and future prospects [3] - The market is characterized by cyclicality and periods of declining average selling prices, which could adversely affect the company's financial condition [3] - The company has recorded net cash outflows from operating activities of 176 million yuan, 63 million yuan, and 18 million yuan for 2022, 2023, and 2024 respectively, indicating significant financial pressure [3]