Atomera Reports Q3 2024 Results and Strategic Progress

Atomera Inc ( (ATOM) ) has realeased its Q3 earnings. Here is a breakdown of the information Atomera Inc presented to its investors.

Atomera Incorporated is a semiconductor materials and technology licensing company specializing in improving semiconductor performance through its proprietary Mears Silicon Technology™ (MST). The company operates within the semiconductor industry, focusing on enhancing transistor efficiency and is known for its innovative approach to leveraging existing manufacturing equipment.

In its latest earnings report for the third quarter of 2024, Atomera Incorporated highlighted key collaborations and financial metrics. The company announced a partnership with the Center for Integrated Nanotechnologies (CINT) at Sandia National Laboratories, aimed at addressing manufacturing challenges in the GaN semiconductor segment. Additionally, Atomera presented at PRiME 2024, showcasing the advantages of its MST technology across various applications.

Financially, Atomera reported a net loss of $4.6 million, or $0.17 per share, showing a slight improvement from the $5.0 million loss in the same quarter of the previous year. The adjusted EBITDA, a non-GAAP financial measure, was a loss of $3.9 million, an improvement from the $4.3 million loss reported in the third quarter of 2023. The company maintains a robust cash position with $17.3 million in cash, cash equivalents, and short-term investments as of the end of September 2024.

Looking ahead, Atomera’s management remains optimistic about its growth trajectory. The company is focused on accelerating engagements and expects to announce new licensing agreements and joint development agreements (JDAs) with additional customers in the near term, reflecting a strategic push to expand its footprint in the semiconductor industry.