Atomera (ATOM) Q3 2026 earnings summary

Executive summary

• Met the February Gate-All-Around engagement goal, reaching three of four developers; two are testing MST on customer silicon and the third is in early evaluation.

• Expanded MST opportunities across next-generation DRAM and NAND, advanced power and RF programs, and signed a GaN-on-silicon joint development agreement with IQE.

• Q3 revenue was $0; net loss was $6.006 million. Starting-wafer applications grew from two to six in a year as the focus remained on converting evidence into agreements and recurring revenue.

Financial highlights

• Q3 revenue was $0, versus $11,000 in Q3 2025 and $158,000 in Q2 2026; no wafer shipments generated revenue in Q3.

• Net loss was $6.006 million, or $0.15 per share, versus $5.573 million, or $0.17 per share, in Q3 2025; adjusted EBITDA loss was $4.572 million versus $4.440 million.

• GAAP operating expenses were $6.328 million, versus $5.676 million in Q3 2025 and $6.891 million in Q2 2026; operating loss was $6.328 million.

• Non-GAAP operating expenses were $4.572 million, versus $4.323 million in Q3 2025 and $5.144 million in Q2 2026.

• 9M revenue was $169,000 versus $15,000; 9M operating expenses were $19.4 million versus $16.3 million, and net loss was $18.4 million versus $15.7 million.

Outlook and guidance

• Q4 wafer-delivery revenue expected at ~$50,000; quarterly revenue remains lumpy with limited long-term visibility.

• FY 2026 non-GAAP operating expense expectation remained ~$18.5 million, ±$250,000, at the high end of the range, reflecting tool leases, metrology and device-fabrication costs.

• 2027 expense guidance was deferred while tool-lease negotiations continued; management said it would work to keep fixed costs low.

• Q4 operating cash use expected to rise due primarily to a one-time ~$1.4 million payment on October 1, prepaying the 200-mm tool lease for 2027; not indicative of the underlying run rate.

• Cash and short-term investments of $34.828 million were expected to fund current plans and obligations for at least 12 months from financial statement issuance.