Atomera Incorporated (ATOM) Market Cap
Atomera Incorporated has a market capitalization of $225.6M.
Financials based on reported quarter end 2025-12-31
Price: $6.94
▲ 0.60 (9.50%)
Market Cap: 225.62M
NASDAQ · time unavailable
CEO: Scott A. Bibaud
Sector: Technology
Industry: Semiconductors
IPO Date: 2016-08-08
Website: https://www.atomera.com
Atomera Incorporated (ATOM) - Company Information
Market Cap: 225.62M · Sector: Technology
Atomera Incorporated develops, commercializes, and licenses proprietary materials, processes, and technologies for the semiconductor industry in North America and the Asia Pacific. The company's lead technology is the Mears Silicon Technology, a thin film of reengineered silicon that can be applied as a transistor channel enhancement to CMOS-type transistors. Its customers include foundries, integrated device manufacturers, fabless semiconductor manufacturers, original equipment manufacturers, and electronic design automation companies. The company was formerly known as Mears Technologies, Inc. and changed its name to Atomera Incorporated in January 2016. Atomera Incorporated was incorporated in 2001 and is headquartered in Los Gatos, California.
Analyst Sentiment
Based on 3 ratings
Consensus Price Target
No data available
Price & Moving Averages
Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"For ATOM (FY ended 2025-12-31), revenue was 50,000 with EPS of -0.14 and net income of -4,425,000, implying a severely negative net margin (net income was far below revenue). Cash flow reported for the period shows operating cash flow of 0, capex of 0, and free cash flow of 0, with no dividends paid. On the balance sheet, total assets were 21.09M versus total liabilities of 2.71M, leaving equity of 18.38M. Net debt was -17.22M, indicating the company is in a net cash position based on the provided figures. Profitability appears weak, with losses dominating the income statement. The cash flow line items provided do not show positive operating cash generation, which limits visibility into the sustainability of operations and reinvestment capacity. Leverage looks low given liabilities of 2.71M relative to equity, and net cash supports balance-sheet resilience. Valuation and analyst target metrics were not provided, so relative valuation cannot be assessed quantitatively here. Shareholder returns are mixed: the stock is up strongly YTD (+58.47%) but down over the last 1 year (-18.34%), and there were no dividends or disclosed buybacks in the data. Overall, the financial picture is risk-weighted toward turnaround/profitability and cash-generation clarity."
Revenue Growth
Revenue is provided only as a single period figure (50,000) with no YoY or sequential comparison, limiting assessment of growth stability or trend drivers.
Profitability
Net income was -4,425,000 and EPS was -0.14, indicating substantial losses and deeply negative net margins; profitability metrics are not supportive.
Cash Flow Quality
Operating cash flow and free cash flow are both shown as 0, and capex is 0 for the period. This provides limited evidence of cash generation and reduces confidence in operational cash quality.
Leverage & Balance Sheet
Total liabilities (2.71M) are modest versus equity (18.38M). Net debt is -17.22M, suggesting net cash and comparatively strong balance-sheet flexibility based on provided data.
Shareholder Returns
No dividends are reported and buybacks are not disclosed. Price performance is volatile: YTD is up (+58.47%) but the 1-year return is negative (-18.34%), implying limited consistent total shareholder value creation over a full year.
Analyst Sentiment & Valuation
No analyst price target or valuation multiples (P/E, FCF yield, ROE, etc.) were provided, so sentiment and valuation attractiveness cannot be quantified from this dataset.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
Management tone is notably upbeat on technical readiness for Gate-All-Around, citing silicon test results in the last month as “definitive proof” for both (a) MST deposition inside 2nm nanosheet structures and (b) superior diffusion blocking versus the industry’s silicon-arsenic approach. That said, the Q&A reveals concrete execution bottlenecks: customers still need access to proprietary GAA structures, and wafer runs require a long 6–9 month cycle after Atomera ships wafers. Financially, despite confidence in 2026 commercialization, reported FY2025 non-GAAP losses remain substantial ($16.1M), with revenue still minimal ($65k for the year). Q1 outlook is limited to $50k–$100k from MST wafer shipments, and 2026 opex is guided to ~$18.5M, with significant reliance on meeting “rigorous commercial objectives” to earn back withheld executive bonus (~$669k). Overall: strong technical progress, but timeline and commercialization risk persist under analyst-facing questioning.
Growth Catalysts
- Gate-All-Around (GAA) MST diffusion blocking: obtained 'definitive proof' silicon test data in the last month for (1) depositing MST into 2nm GAA nanosheet structures and (2) achieving better diffusion blocking vs current industry approach
- DRAM: wafer-based solutions at an inflection point for next-gen vertical DRAM; preliminary results expected to be known in ~1 month from one customer
- RF-SOI: MST offering positioned for RF switch and low-noise amplifier (LNA); supports wafer-based adoption or third-party RF-SOI MST wafer purchase
- Power/AI data centers: simulation indicates potential MST performance improvement >40%; new inbound development interest already triggered by one customer
- GaN on Silicon: first commercial customer started running wafers; Power America concept paper approved to move to proposal stage
Business Development
- Strategic partnership with a large equipment OEM (named companies as target customers include TSMC, Samsung, Intel; plus a new Japanese manufacturer mentioned as 'deep in development')
- Gate-All-Around customer evaluation: currently working with one GAA potential customer that has already enabled evaluation today; goal is to be in all four GAA customers
- DRAM: one customer with preliminary wafer-results; follow-on push for joint development agreement (JDA) and license if final data confirms
- GaN: Power America project proposal stage following approval of GaN on Silicon concept paper
- Power: continued work with STMicroelectronics (ST) across multiple power business units after a 'setback with ST last year'
- Power/HBT: discussions underway with a 'potential first customer' for HBT device improvement application
Financial Highlights
- Revenue FY2025: $65,000 (NRE fees for wafer deliveries + MST CAD licensing) (no quarterly revenue guidance beyond Q1 wafer shipments)
- GAAP net loss FY2025: $20.2M ($0.65/share) vs FY2024 net loss $18.4M ($0.68/share)
- Non-GAAP net loss FY2025: $16.1M ($0.52/share) vs FY2024 non-GAAP net loss $15.4M ($0.57/share)
- Non-GAAP Q4 2025 net loss: $3.3M or $0.10/share vs Q3 2025 non-GAAP net loss $4.4M or $0.14/share
- Q4 non-GAAP operating expenses: $3.2M vs $4.3M in Q3 (decline driven by reversal of bonus accrual)
- Cash & short-term investments (Dec 31, 2025): $19.2M vs $26.7M (end of 2024) and $20.3M (end of Q3 2024)
- Q1 2026 revenue expectation: $50,000 to $100,000 from shipment of MST wafers (no further revenue guidance)
Capital Funding
- ATM facility: sold ~1.6M shares in 2025 at avg $5.15; net proceeds ~$7.6M after commissions/expenses
- Post-year-end raise: additional net proceeds ~$3.2M by selling ~1.3M shares at avg $2.47
- Operating cash used: $14.9M in 2025 total; $3.2M used in Q4
Strategy & Ops
- Cost control: limited 2026 expense growth to areas tied to revenue/near-term commercial progress; expects non-GAAP operating expenses ~ $18.5M in 2026
- 2026 expense normalization comment: on paper +17% vs 2025, but normalized for timing of executive bonus accrual, expected increase ~8%
- R&D vendor shift: 2025 outsourced engineering +$676k (from use of various new device fabrication vendors replacing TSI semiconductor)
- Wafer activity cadence: moved to customers running simultaneous wafer runs; now largely shipped out wafer work; customers take 6–9 months to run wafers and return test results
Market Outlook
- Q1 2026 revenue guidance: $50,000–$100,000 from MST wafer shipments
- Management expects Gate-All-Around customer evaluations/implementation discussion to be pushed toward installation in customer fabs, but timing 'hard to say' and not given as a definitive date
Risks & Headwinds
- Customer evaluation and productization timing risk: after shipping wafers, customers need 6–9 months to run wafers and return test results
- Gate-All-Around adoption friction: industry must validate MST efficacy on silicon at real-world, high-volume manufacturing scale (2nm deposition into tiny nanosheet structures remains inherently difficult)
- Competitive/technical comparator risk: industry has relied on silicon arsenic spacers; Atomera claims superior diffusion blocking vs silicon arsenic, but customers still must accept MST process changes and validate yields/performance
- Supply chain/manufacturing constraint risk (implied by AI semiconductor pressures): limited GBU supply, energy infrastructure stress, and surge in memory prices could affect customer priorities/cycles
- Financial execution risk: executive bonus withheld (~$669k) must be earned in 2026 based on 'rigorous commercial objectives'—signals commercialization hurdle
Sentiment: MIXED
Note: This summary was synthesized by AI from the ATOM Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.