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Atomera (ATOM) investor relations material

Atomera Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary12 Feb, 2026

Executive summary

  • Achieved significant technical milestones in Gate-All-Around transistor technology and manufacturability of MST, positioning for commercial execution in 2026.

  • Expanded customer engagements, including new non-traditional areas, government-funded collaborations, and first commercial customer running wafers on GaN with MST.

  • Advanced wafer-based product strategies and moved GaN-on-Silicon concept paper to proposal phase in Power America funding program.

  • Focuses on licensing MST technology for the semiconductor market, targeting power, RF-SOI, advanced nodes, and DRAM applications with a high-leverage IP licensing model.

  • Operates with a strong and growing patent portfolio, supporting quantum engineered materials and transistor enhancement technology.

Financial highlights

  • Fiscal 2025 revenue was $65,000, primarily from NRE fees and MSTcad licensing, down from $135,000 in 2024.

  • GAAP net loss for 2025 was $20.2 million ($0.65/share), compared to $18.4 million ($0.68/share) in 2024.

  • Adjusted EBITDA loss for 2025 was $16.1 million, compared to $15.4 million in 2024.

  • Cash, cash equivalents, and short-term investments totaled $19.2 million at year-end 2025, down from $26.8 million in 2024.

  • Gross profit for 2025 was $123,000, up from $62,000 in 2024, but gross margin was negative ($256,000) in 2025.

Outlook and guidance

  • Q1 2026 revenue expected between $50,000 and $100,000 from MST wafer shipments.

  • Non-GAAP operating expense for 2026 projected at $18.5 million, up 17% year-over-year, with normalized increase about 8% due to bonus accrual timing.

  • Management highlights strong industry demand for MST technology, especially in advanced transistors and data center applications, but forward-looking statements are subject to risks and uncertainties.

GAA: What are the next steps for commercialization?
New power/GaN opportunities: 2026 impact?
How will 2026 cost control drive commercial goals?
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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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