Atomera (ATOM) Q2 2026 earnings summary

Executive summary

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

• Advanced customer engagements in all target markets, including GAA, DRAM, and NAND, with key milestones cleared and new value propositions validated for memory applications.

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

• Revenue remains limited, primarily from engineering services and MSTcad software licensing, with efforts to secure commercial license agreements and royalties.

• Significant investments in R&D and increased headcount continue to drive technology development.

Financial highlights

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

• 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 net loss was $5 million, compared to $4 million in Q2 2025.

• Operating expenses rose to $6.9 million in Q2 2026 from $5.2 million in Q2 2025, driven by higher R&D, G&A, and selling/marketing costs.

• Cash, equivalents, and short-term investments totaled $38.4 million as of June 30, 2026.

Outlook and guidance

• Annual non-GAAP operating expense for 2026 expected at the high end of $18.25–$18.75 million, with further cost increases likely in 2027.

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

• Focus remains on expanding MST technology adoption and converting technical progress into commercial agreements and repeatable revenue.

• Anticipates further validation and adoption of MST technology in DRAM, NAND, and RF applications.