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Atomera (ATOM) investor relations material

Atomera Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary28 Oct, 2025

Executive summary

  • Achieved record MST wafer processing and growing adoption across GAA, DRAM, RFSOI, and power segments, with broader industry interest and validation from key partners.

  • Developed a new MST implementation eliminating the performance-reliability trade-off, validated by STMicroelectronics, but reliability issues prevented integration into their BCD110 platform, resulting in loss of near-term royalty revenue.

  • Strategic focus on applications with fastest time to market and highest ROI, prioritizing MST starting wafer products and leveraging partnerships for quicker revenue.

  • Hired a new VP of Sales with extensive IP licensing experience to accelerate commercialization and revenue conversion.

  • Ongoing R&D and partnerships in gallium nitride, quantum computing, AI server power, and advanced materials, with continued investment in patent portfolio.

Financial highlights

  • Q3 2025 revenue was $11,000, down from $62,000 in Q3 2024 and $117,000 in Q2 2025.

  • GAAP net loss for Q3 2025 was $5.6 million ($0.17/share), compared to $4.6 million ($0.17/share) in Q3 2024.

  • Adjusted EBITDA (non-GAAP) loss for Q3 2025 was $4.4 million, up from $3.9 million in Q3 2024.

  • Cash, cash equivalents, and short-term investments totaled $20.3 million as of September 30, 2025, down from $26.8 million at year-end 2024.

  • Raised $2 million via ATM facility in Q3 and an additional $836,000 post-quarter, with 31.7 million shares outstanding.

Outlook and guidance

  • Q4 2025 NRE revenue expected between $75,000 and $125,000 from wafer shipments to multiple customers.

  • Full-year 2025 non-GAAP operating expense projected at $17.25–$17.5 million.

  • Revenue potential tied to MST integration in high-volume products such as RFSOI, GaN, next-gen DRAM, GAA Logic, Power, and Flash memory.

  • Focus remains on advancing MST starting wafer products, leveraging OEM partnerships, and bringing gallium nitride technology to market.

  • Management sees increased customer engagement and a strong pipeline for MST technology.

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Frequently asked questions

Atomera Incorporated is a technology company engaged in developing, commercializing and licensing its proprietary materials, processes and technologies for the semiconductor industry. Its products consist of Mears Silicon Technology or MST, which is used to enhance the performance of transistors leading to integrated circuits and memory cells used in consumer electronics, computing, communications and industrial goods.

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