Atomera Q2 2026 Earnings Call Summary

1Key Financial Results and Metrics

Revenue: $158,000, primarily from wafer deliveries to a large IDM customer.

GAAP Net Loss: $6.3 million ($0.17 per share), compared to a loss of $5 million ($0.17 per share) in Q2 2025.

Non-GAAP Net Loss: $5 million, up from $4 million in Q2 2025.

Operating Expenses: $6.9 million, an increase from $5.2 million in Q2 2025, driven by higher G&A and sales/marketing expenses.

Cash Position: $38.4 million as of June 30, 2026, down from $41.1 million at the end of Q1 2026. Cash used in operating activities was $3.9 million, an improvement from $4.8 million in Q1 2026.

Annual Non-GAAP Operating Expense Guidance: Expected to be at the high end of the previously stated range of $18.5 million, now projected closer to $18.75 million.

2Strategic Updates and Business Highlights

Gate-All-Around (GAA) Technology: Cleared a significant milestone with one of two active GAA customers, indicating progress towards potential licensing agreements.

Memory Market Engagement: Increased interest from DRAM manufacturers, particularly in transitioning to 4F2 DRAM structures, with a new value proposition validated through customer discussions.

NAND Flash Opportunities: New interest from NAND flash manufacturers for planar periphery enhancements, potentially doubling the total addressable market (TAM) for Atomera's MST technology.

GaN-on-Silicon Breakthrough: Significant improvements in RF performance metrics, making GaN-on-silicon commercially attractive and opening potential for new customer engagements in RF applications.

3Forward Guidance and Outlook

Strategic Focus: Atomera is optimistic about translating technical advancements into commercial agreements, particularly in the GAA and memory sectors.

Market Positioning: The company is positioned to capitalize on emerging markets in RF and memory, with ongoing efforts to secure contracts and partnerships.

Cost Management: Despite rising operational costs, Atomera aims to control spending while navigating increased expenses related to outsourced engineering and tool leases.

4Bad News, Challenges, or Points of Concern

Operating Losses: Continued net losses raise concerns about the sustainability of operations without significant revenue growth.

Increased Costs: Rising operational costs, particularly in outsourced engineering, may impact future profitability.

Dependence on Customer Adoption: The lengthy sales cycle and the need for customer validation in GAA technology could delay revenue realization.

PowerAmerica Program: Atomera did not receive a grant from PowerAmerica, which could limit development opportunities in GaN power devices.

5Notable Q&A Insights

GAA Customer Engagement: Discussions are ongoing regarding licensing terms with GAA customers, but the timeline for closing deals remains uncertain, potentially extending into late 2026.

DRAM and NAND Transition: The shift in focus from DRAM to NAND flash memory is seen as a positive development, expanding Atomera's market opportunities.

GaN-on-Silicon Potential: The advancements in GaN-on-silicon technology may lead to a significant shift in RF design practices, with potential for increased market share in power amplifiers.

Operational Cost Projections: Future operating expenses are expected to rise due to ongoing negotiations and increased costs from service providers, but specific guidance for 2027 remains undetermined. Overall, Atomera's Q2 2026 performance reflects a mix of strategic progress and ongoing challenges, with a focus on leveraging technological advancements to drive future growth.