Atomera Provides Fourth Quarter and Fiscal 2024 Results

Rhea-AI Summary

Atomera (NASDAQ:ATOM) has released its Q4 and fiscal 2024 financial results, highlighting continued progress in commercialization efforts with ST Microelectronics and expanded offerings for gate-all-around products for AI devices. The company reported new development initiatives with two large customers.

Financial highlights for Q4 2024 include a net loss of $4.7 million ($0.16 per share), compared to Q3 2024's loss of $4.6 million ($0.17 per share). For fiscal year 2024, revenue was $135,000, down from $550,000 in 2023, with a net loss of $18.4 million ($0.68 per share) compared to $19.8 million ($0.80 per share) in 2023.

The company's cash position strengthened to $26.8 million as of December 31, 2024, up from $19.5 million year-over-year, with 30.1 million total shares outstanding.

Positive

• Cash position increased to $26.8M from $19.5M YoY
• Reduced net loss per share to $0.68 in FY2024 from $0.80 in FY2023
• New development partnerships with two large customers

Negative

• Revenue declined 75.5% to $135,000 in FY2024 from $550,000 in FY2023
• Q4 2024 net loss increased to $4.7M from $4.6M in Q4 2023
• Adjusted EBITDA loss worsened to $3.9M in Q4 2024 from $3.7M in Q4 2023

Insights

Financial Analyst

The Q4 2024 results reveal a complex picture for Atomera's commercialization journey. While the annual net loss improved by $1.4 million to $18.4 million, the concerning revenue decline of 75% year-over-year to $135,000 indicates challenges in converting technical progress into commercial success.

The strengthened cash position of $26.8 million provides approximately 5-6 quarters of runway at current burn rates, offering important flexibility as the company pursues commercialization. This improved liquidity likely results from successful capital raising activities, demonstrating investor confidence in Atomera's technology potential.

Two strategic developments deserve particular attention. First, the expansion into gate-all-around (GAA) technology positions Atomera at the forefront of next-generation AI chip architecture, where performance and power efficiency are critical. Second, the initiation of development efforts with two large customers suggests growing industry recognition of MST's potential to address semiconductor scaling challenges.

The ongoing collaboration with ST Microelectronics represents a important validation path, though the extended timeline for semiconductor technology adoption (typically 18-36 months) explains the current revenue pattern. The company's focus on addressing competitive markets through cost-effective performance improvements aligns well with the industry's current priorities, particularly as AI drives demand for more efficient chip architectures.

LOS GATOS, CA / ACCESS Newswire / February 11, 2025 / Atomera Incorporated (NASDAQ:ATOM), a semiconductor materials and technology licensing company, today provided a corporate update and announced financial results for the fourth quarter and fiscal year ended December 31, 2024.

Recent Company Highlights

• Continued progress toward commercialization at ST Microelectronics

• Expanded offerings for gate-all-around products, the foundation technology of the most advanced AI devices

• Newly initiated development efforts with two large customers

Management Commentary

"Recent progress with large customers has reinforced the attractiveness of MST to solve some of the most difficult problems faced by semiconductor companies, which is the key to Atomera licensing customers and bringing our technology to production," said Scott Bibaud, President and CEO. "The semiconductor industry is currently in an ideal state to adopt new technology and the performance improvements enabled by MST are compelling to fabs and foundries seeking to gain cost-effective advantages in highly competitive markets."

Financial Results

The Company incurred a net loss of ($4.7) million, or ($0.16) per basic and diluted share in the fourth quarter of 2024, compared to a net loss of ($4.6) million, or ($0.17) per basic and diluted share, for the third quarter of 2024, and a net loss of ($4.6) million, or ($0.18) per basic and diluted share, for the fourth quarter of 2023. Adjusted EBITDA (a non-GAAP financial measure) in the fourth quarter of 2024 was a loss of ($3.9) million compared to an adjusted EBITDA loss of ($3.9) million in the third quarter of 2024 and ($3.7) million in the fourth quarter of 2023.

For fiscal year 2024, revenue was $135,000, compared with $550,000 in fiscal 2023. Net loss was ($18.4) million, or ($0.68) per basic and diluted share for fiscal 2024, compared to ($19.8) million, or ($0.80) per basic and diluted share in fiscal 2023. Adjusted EBITDA for fiscal 2024 was a loss of ($15.4) million compared to an adjusted EBITDA loss of ($16.6) million in fiscal 2023.

The Company had $26.8 million in cash, cash equivalents and short-term investments as of December 31, 2024, compared to $19.5 million as of December 31, 2023.

The total number of shares outstanding was 30.1 million as of December 31, 2024.

Fourth Quarter and Fiscal Year 2024 Results Webinar

Atomera will host a live video webinar today to discuss its financial results and recent progress.
Date: Tuesday, Feb. 11, 2025
Time: 2:00 p.m. PT (5:00 p.m. ET)
Webcast: Accessible at https://ir.atomera.com

Note about Non­-GAAP Financial Measures

In addition to the unaudited results presented in accordance with generally accepted accounting principles, or GAAP, in this press release, Atomera presents adjusted EBITDA, which is a non­-GAAP financial measure. Adjusted EBITDA is determined by taking net loss and eliminating the impacts of interest, depreciation, amortization and stock­-based compensation. Our definition of adjusted EBITDA may not be comparable to the definitions of similarly-­titled measures used by other companies. We believe that this non­-GAAP financial measure, viewed in addition to and not in lieu of our reported GAAP results, provides useful information to investors by providing a more focused measure of operating results. This metric is used as part of the Company's internal reporting to evaluate its operations and the performance of senior management. A table reconciling this measure to the comparable GAAP measure is available in the accompanying financial tables below.

About Atomera Incorporated

Atomera Incorporated is a semiconductor materials and technology licensing company focused on deploying its proprietary, silicon-proven technology into the semiconductor industry. Atomera has developed Mears Silicon Technology™ (MST^®), which increases performance and power efficiency in semiconductor transistors. MST can be implemented using equipment already deployed in semiconductor manufacturing facilities and is complementary to other nano-scaling technologies already in the semiconductor industry roadmap. More information can be found at www.atomera.com.

Safe Harbor

This press release contains forward-looking statements concerning Atomera Incorporated, including statements regarding the prospects for the semiconductor industry generally and the ability of our MST technology to significantly improve semiconductor performance. Those forward­-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially. Among those factors are: (1) the fact that, to date, we have only recognized minimal engineering services and licensing revenues thus subjecting us to all the risks inherent in an early-stage enterprise; (2) the risk that licensees or JDA customers do not advance to royalty-based manufacturing and distribution licenses; (3) our ability to add other licensees and/or JDA customers; (4) risks related to our ability to raise sufficient capital, as and when needed, to pursue the further development, licensing and commercialization of our MST technology; (5) our ability to protect our proprietary technology, trade secrets and know­how and (6) those other risks disclosed in the section "Risk Factors" included in our Annual Report on Form 10-K filed with the SEC on February 15, 2024. We caution readers not to place undue reliance on any forward-looking statements. We do not undertake, and specifically disclaim any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

-- Financial Tables Follow --

Atomera Incorporated
Balance Sheets
(in thousands, except per share data)

		December 31,				December 31,
		2024				2023
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	25,778			$	12,591
Short-term investments			995				6,940
Accounts receivable			6				-
Unbilled contracts receivable			-				550
Interest receivable			73				79
Prepaid expenses and other current assets			240				244
Total current assets			27,092				20,404
Property and equipment, net			59				100
Long-term prepaid maintenance and supplies			91				91
Security deposit			14				14
Operating lease right-of-use asset			280				517
Financing lease right-of-use-asset			1,588				2,903
Total assets		$	29,124			$	24,029
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	492			$	618
Accrued expenses			239				222
Accrued payroll related expenses			1,328				1,382
Current operating lease liability			260				264
Current financing lease liability			1,253				1,328
Deferred revenue			4				-
Total current liabilities			3,576				3,814
Long-term operating lease liability			22				295
Long-term financing lease liability			449				1,750
Total liabilities			4,047				5,859
Commitments and contingencies			-				-
Stockholders' equity:
Preferred stock $0.001 par value, authorized 2,500 shares; none issued and outstanding at December 31, 2024 and December 31, 2023			-				-
Common stock: $0.001 par value, authorized 47,500 shares; 30,540 and 26,107 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively;			31				26
Additional paid-in capital			246,565				221,229
Other comprehensive income			1				-
Accumulated deficit			(221,520	)			(203,085	)
Total stockholders' equity			25,077				18,170
Total liabilities and stockholders' equity		$	29,124			$	24,029

Atomera Incorporated
Statements of Operations
(in thousands, except per share data)

		Three Months Ended												Year Ended
		December 31,				September 30,				December 31,				December 31,
		2024				2024				2023				2024				2023
		(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Revenue		$	23			$	22			$	550			$	135			$	550
Cost of revenue			(13	)			(3	)			(28	)			(123	)			(28	)
Gross margin			10				19				522				12				522
Operating expenses
Research and development			2,823				2,759				2,992				11,029				12,525
General and administrative			1,811				1,812				1,875				7,266				7,075
Selling and marketing			248				248				452				1,053				1,599
Total operating expenses			4,882				4,819				5,319				19,348				21,199
Loss from operations			(4,872	)			(4,800	)			(4,797	)			(19,336	)			(20,677	)
Other income (expense)
Interest income			213				176				195				779				723
Accretion income			26				59				62				178				283
Other income (expense), net			1				-				3				73				75
Interest expense			(25	)			(30	)			(43	)			(129	)			(194	)
Total other income (expense), net			215				205				217				901				887
Net loss		$	(4,657	)		$	(4,595	)		$	(4,580	)		$	(18,435	)		$	(19,790	)
Net loss per common share, basic and diluted		$	(0.16	)		$	(0.17	)		$	(0.18	)		$	(0.68	)		$	(0.80	)
Weighted average number of common shares outstanding, basic and diluted			28,934				27,406				25,404				27,217				24,755

Atomera Incorporated
Reconciliation to Non-GAAP EBITDA
(Unaudited)

		Three Months Ended												Year Ended
		December 31,				September 30,				December 31,				December 31,
		2024				2024				2023				2024				2023
Net loss (GAAP)		$	(4,657	)		$	(4,595	)		$	(4,580	)		$	(18,435	)		$	(19,790	)
Depreciation and amortization			12				12				17				54				77
Stock-based compensation			949				907				1,015				3,867				4,013
Interest income			(213	)			(176	)			(195	)			(779	)			(723	)
Accretion income			(26	)			(59	)			(62	)			(178	)			(283	)
Other income, net			(1	)			-				(3	)			(73	)			(75	)
Interest expense			25				30				43				129				194
Net loss non-GAAP EBITDA		$	(3,911	)		$	(3,881	)		$	(3,765	)		$	(15,415	)		$	(16,587	)

Investor Contact:

Bishop IR
Mike Bishop
(415) 894-9633
investor@atomera.com

SOURCE: Atomera, Inc

View the original press release on ACCESS Newswire

FAQ

What was Atomera's (ATOM) revenue for fiscal year 2024?

Atomera reported revenue of $135,000 for fiscal year 2024, compared to $550,000 in fiscal year 2023.

How much cash does Atomera (ATOM) have as of December 31, 2024?

Atomera had $26.8 million in cash, cash equivalents and short-term investments as of December 31, 2024.

What was Atomera's (ATOM) net loss per share in Q4 2024?

Atomera reported a net loss of $0.16 per basic and diluted share in Q4 2024.

What progress has Atomera (ATOM) made with strategic partnerships in 2024?

Atomera reported continued progress toward commercialization with ST Microelectronics and initiated new development efforts with two large customers.

How did Atomera's (ATOM) full-year 2024 performance compare to 2023?

Atomera's net loss improved to $18.4 million ($0.68 per share) in 2024 from $19.8 million ($0.80 per share) in 2023, though revenue decreased from $550,000 to $135,000.