EX-99.1 2 atomera_ex9901.htm PRESS RELEASE DATED MAY 6, 2025 ATOMERA INCORPORATED

Exhibit 99.1

 

 

 

 

Atomera Provides First Quarter 2025 Results

 

LOS GATOS, Calif. May 6, 2025 Atomera Incorporated (NASDAQ: ATOM), a semiconductor materials and technology licensing company, today provided a corporate update and announced financial results for the first quarter ended March 31, 2025.

 

Recent Company Highlights

 

·Signed strategic marketing agreement with leading chip fabrication equipment vendor
·Expanded engagements at ST Microelectronics and RFSOI customers to new applications
·Built first ever MST-enabled GaN devices at Sandia and began electrical testing

 

Management Commentary

 

“Our recently announced collaboration with a leading capital equipment company will strengthen Atomera’s deal execution on many different levels. We believe the collaboration will drive our license revenues while growing our partner’s capital equipment tool sales giving incentives for both of us to make it a success,” said Scott Bibaud, President and CEO. “Our expansion to new application areas with ST and our fabless RF licensee are evidence of the growing opportunities available for MST as we deepen our relationships with our lead customers.”

 

Financial Results

 

The Company incurred a net loss of ($5.2) million, or ($0.17) per basic and diluted share in the first quarter of 2025, compared to a net loss of ($4.8) million, or ($0.19) per basic and diluted share, for the first quarter of 2024. Adjusted EBITDA (a non-GAAP financial measure) in the first quarter of 2025 was a loss of ($4.4) million compared to an adjusted EBITDA loss of ($4.0) million in the first quarter of 2024.

 

The Company had $24.1 million in cash, cash equivalents and short-term investments as of March 31, 2025, compared to $26.8 million as of December 31, 2024.

 

The total number of shares outstanding was 30.7 million as of March 31, 2025.

 

First Quarter 2025 Results Webinar

 

Atomera will host a live video webinar today to discuss its financial results and recent progress.

Date: Tuesday, May 6, 2025

Time: 2:00 p.m. PT (5:00 p.m. ET)

Webcast: Accessible at https://ir.atomera.com

 

 

 

 

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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 and we have not yet commenced principal revenue producing operations, thus subjecting us to all of the risks inherent in an early-stage enterprise; (2) the risk that STMicroelectronics does not proceed with qualification of MST in its manufacturing process or does not take MST-enabled products to market, (3) risks related to our ability to successfully complete the milestones in our joint development agreements or, even if successfully completed, to reach a commercial distribution license with our JDA customers; (4) risks related to our ability to advance licensing arrangements with our integration licensees to royalty-based manufacturing and distribution licenses or our ability to add other licensees; (5) 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; (6) our ability to protect our proprietary technology, trade secrets and knowhow and (7) those other risks disclosed in the section "Risk Factors" included in our Annual Report on Form 10-K filed with the SEC on March 4, 2025. 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 –

 

 

 

 

 

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Atomera Incorporated

Condensed Balance Sheets

(in thousands, except per share data)

 

         
   March 31,   December 31, 
   2025   2024 
   (Unaudited)     
ASSETS          
           
Current assets:          
Cash and cash equivalents  $24,123   $25,778 
Short-term investments   –    995 
Unbilled contracts receivable   –    6 
Interest receivable   81    73 
Prepaid expenses and other current assets   335    240 
Total current assets   2,4539    27,092 
           
Property and equipment, net   52    59 
Long-term prepaid maintenance and supplies   91    91 
Security deposit   14    14 
Operating lease right-of-use asset   218    280 
Financing lease right-of-use-asset   1,338    1,588 
           
Total assets  $26,252   $29,124 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
           
Current liabilities:          
Accounts payable  $761   $492 
Accrued expenses   195    239 
Accrued payroll related expenses   402    1,328 
Current operating lease liability   184    260 
Current financing lease liability   1,314    1,253 
Deferred Revenue   –    4 
Total current liabilities   2,856    3,576 
           
Long-term operating lease liability   –    22 
Long-term financing lease liability   113    449 
           
Total liabilities   2,969    4,047 
           
Commitments and contingencies   –    – 
           
Stockholders’ equity:          
Preferred stock $0.001 par value, authorized 2,500 shares; none issued and outstanding as of March 31 2025 and December 31, 2024   –    – 
Common stock: $0.001 par value, authorized 47,500 shares; 30,704 shares issued and outstanding as of March 31, 2025; and 30,540 shares issued and outstanding as of December 31, 2024   31    31 
Additional paid in capital   249,981    246,565 
Other comprehensive income (loss)   –    1 
Accumulated deficit   (226,729)   (221,520)
Total stockholders’ equity   23,283    25,077 
Total liabilities and stockholders’ equity  $26,252   $29,124 

 

 

 

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Atomera Incorporated

Condensed Statements of Operations

(in thousands, except per share data)

             
   Three Months Ended 
   March 31,   December 31,   March 31, 
   2025   2024   2024 
   (Unaudited)   (Unaudited)   (Unaudited) 
Revenue  $4    23   $18 
Cost of revenue   –    (13)   (33)
Gross margin   4    10    (15)
                
Operating expenses               
Research and development   3,255    2,823    2,858 
General and administrative   2,088    1,811    1,811 
Selling and marketing   124    248    350 
Total operating expenses   5,467    4,882    5,019 
                
Loss from operations   (5,463)   (4,872)   (5,034)
                
Other income (expense)               
Interest income   270    213    205 
Accretion income   6    26    46 
Interest Expense   (21)   (25)   (39)
Other income (expense), net   (1)   1    – 
Total other income (expense), net   254    215    212)
                
Net loss  $(5,209)  $(4,595)  $(4,822)
                
Net loss per common share, basic and diluted  $(0.17)  $(0.16)  $(0.19)
                
Weighted average number of common shares outstanding, basic and diluted   30,243    28,934    26,038 

 

 

 

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Atomera Incorporated

Reconciliation to Non-GAAP EBITDA

(Unaudited)

         
   Three Months Ended 
   March 31,   December 31,   March 31, 
   2025   2024   2024 
Net loss (GAAP)  $(5,209)  $(4,657)  $(4,822)
Depreciation and amortization   12    12    17 
Stock-based compensation   1,009    949    1,024 
Interest income   (270)   (213)   (205)
Accretion income   (6)   (26)   (46)
Interest expense   21    25    39 
Other (income) expense, net   1    (1)   – 
Net loss non-GAAP EBITDA  $(4,442)  $(3,911)  $(3,993)

 

 

 

 

 

Investor Contact:

Bishop IR

Mike Bishop

(415) 894-9633

[email protected]

 

 

 

 

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