Atomera (ATOM) Q4 2021 earnings summary

Executive summary

• MST commercialization advanced: one JDA customer received a paid manufacturing license, and all development milestones were achieved in Feb. 2022, triggering additional revenue but not granting commercial distribution rights.

• MST was in integration across 15 engagements and process installation in one; no customer had reached technology qualification as of the report date.

Financial highlights

• FY2021 revenue was $400K vs. $62K in FY2020; 2021 revenue came from the JDA manufacturing license, while 2020 revenue came from integration services and licenses.

• FY2021 operating expenses were $15.9M vs. $15.0M; operating loss was $15.5M vs. $14.9M, and net loss was $15.7M vs. $14.9M.

• FY2021 basic and diluted loss per share was $0.70 vs. $0.79; operating cash use was $12.4M vs. $12.1M.

Outlook and guidance

• Available working capital was expected to fund current plans and obligations for at least 12 months after filing; future plans include increased R&D headcount and outsourced fabrication and testing.

• Commercialization depends on successful high-volume integration and customer qualification; the customer cycle may take 18–36 months or longer, with production royalties dependent on future licenses and sales.