Atomera(US:ATOM)2024-02-14 06:27Financial Data and Key Metrics Changes - Revenue for 2023 was $550,000, all recognized in Q4, resulting from the installation and acceptance of MST technology at STMicro's fab [19] - GAAP net loss for 2023 was $19.8 million, or $0.80 per share, compared to a net loss of $17.4 million, or $0.75 per share in 2022 [19] - GAAP operating expenses were $21.2 million in 2023, an increase of approximately $3.4 million from $17.8 million in 2022, primarily driven by a $2.5 million increase in R&D expenses [19][20] Business Line Data and Key Metrics Changes - The installation of MST technology at STMicro's fab in Agrate, Italy was a significant milestone, marking the transition to production [6][7] - The company is seeing growth in Phase 4 of its customer pipeline, reflecting the ST installation and ongoing development with other customers [12][13] Market Data and Key Metrics Changes - The semiconductor industry faced negative growth in 2023, but there is emerging optimism for 2024 driven by new AI capabilities [6] - Increased interest in higher voltage semiconductor areas is noted, with competition from Chinese companies prompting established players to differentiate their technology [14] Company Strategy and Development Direction - The company aims to accelerate customer adoption of MST technology, with a focus on getting more customers to production [12][18] - The strategy includes leveraging the successful installation at STMicro to drive interest and adoption among other potential customers [32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting 2023 as a catalyst year for commercial success [5][18] - The company is focused on ensuring a successful and rapid production ramp of MST at STMicro while also pursuing additional customers [12][26] Other Important Information - The company has a cash balance of $19.5 million as of December 31, 2023, down from $21.2 million at the end of 2022 [22] - The next grant of license rights to STMicro will enable them to manufacture and sell products with MST, leading to royalty payments for Atomera [22][23] Q&A Session Summary Question: Time frame for productization with STMicro - Management indicated that while the expected time frame remains 1.5 to 2 years, recent progress could potentially allow for an earlier timeline [27][28] Question: Halo effect of STMicro's adoption - Management confirmed that STMicro's engagement is already acting as a catalyst for other companies to consider adopting MST technology [31][32] Question: Update on engagement with DRAM manufacturers - Management stated ongoing discussions with DRAM manufacturers, indicating that the work is not in early stages and is progressing [51][53] Question: Impact of TSI delay on business - Management clarified that the delay with TSI does not impact customer engagements, as TSI was primarily for internal R&D testing [45][46] Question: Update on the CHIPS Act - Management is actively working to engage with the government for potential opportunities related to the CHIPS Act, although no specific announcements were made [59]