In This Article:
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GAAP Net Loss: $4.6 million or $0.17 per share for Q3 2024.
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Revenue: $22,000 in Q3 2024.
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GAAP Operating Expenses: $4.8 million in Q3 2024.
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Non-GAAP Net Loss: $3.9 million in Q3 2024.
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Cash Equivalents and Short-term Investments: $17.3 million as of September 30, 2024.
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Cash Used in Operating Activities: $2.9 million in Q3 2024.
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Shares Outstanding: 28.3 million as of September 30, 2024.
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Stock Compensation Expenses: Approximately $900,000 in Q3 2024.
Release Date: October 29, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Atomera Inc (NASDAQ:ATOM) is experiencing significant progress in its development efforts, customer activity, partnerships, and technology advancement.
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The company is actively working with STMicroelectronics on next-generation smart power products, with promising development and manufacturability progress.
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Atomera Inc (NASDAQ:ATOM) has finalized a 48-volt version of its SPX technology, showing dramatic performance improvements for data centers.
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The company is engaged with multiple customers in advanced node and memory segments, which are critical areas for semiconductor industry growth.
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Atomera Inc (NASDAQ:ATOM) has entered into an agreement with Sandia National Labs to advance its GaN on silicon technology, potentially accelerating time to market.
Negative Points
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Atomera Inc (NASDAQ:ATOM) reported a GAAP net loss of $4.6 million for Q3 2024, with revenues of only $22,000, indicating financial challenges.
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The timeline for revenue generation from STMicroelectronics is uncertain and entirely under ST's control, creating potential delays.
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The company faces slower progress in legacy technology segments, which take longer to transition to production.
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Atomera Inc (NASDAQ:ATOM) has a lower cash balance compared to the previous quarter, raising concerns about funding and cash needs.
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The company has not yet secured Chips Act funding, and the timeline for decisions on their proposals remains unclear.
Q & A Highlights
Q: Can you provide more details on the transformative situation you mentioned in your remarks? A: Scott Bibaud, President and CEO, explained that the transformative situation involves a large customer with significant revenue potential. If Atomera can enter production with this customer, it could provide a compelling financial position due to high gross margin revenue. The company has been working with this customer for some time, and they are now in active negotiations, although specific details about the segment or timing cannot be disclosed.