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]