Atomera (ATOM) investor relations material

Executive summary

• Achieved technical breakthroughs in GaN-on-Silicon for RF, surpassing industry benchmarks and enabling new RF device classes, which generated significant customer interest.

• Advanced customer engagements in all target markets, with key milestones cleared in GAA transistor technology and growing validation from DRAM and NAND suppliers, especially for AI-driven applications.

• Re-established and expanded value propositions for DRAM 4F² and NAND memory, validated by major suppliers and TCAD studies.

• Focused on developing and licensing MST technology to improve performance and efficiency in integrated circuits, with ongoing R&D and patent expansion.

Financial highlights

• Q2 2026 revenue was $158,000, primarily from wafer deliveries and engineering services, up from $132,000 in Q2 2025.

• GAAP net loss for Q2 2026 was $6.3 million ($0.17/share), compared to $5.0 million ($0.17/share) in Q2 2025.

• Non-GAAP/adjusted EBITDA loss was $5.0 million, versus $4.0 million in Q2 2025.

• Operating expenses rose to $6.9 million from $5.2 million year-over-year, mainly due to higher R&D and G&A costs.

• Cash, equivalents, and short-term investments totaled $38.4 million as of June 30, 2026, nearly doubling since year-end 2025.

Outlook and guidance

• Annual non-GAAP operating expense for 2026 expected at the high end of $18.25–$18.75 million.

• Management believes available capital is sufficient to fund operations for at least the next 12 months.

• Focus remains on expanding MST technology adoption across logic, memory, RF-SOI, GaN, and power segments, with continued customer engagement and no guidance for 2027.