Busy And Useful

Summary –

1) Business unit of JDA 1 has found an application where MST solves major process issue. Atomera needs to negotiate business side.

2) ST Micro install will be completed soon and they remain on schedule to get into production (2024 Q4), generating royalty.

3) JDA 2 will get results of 3rd round of experiments. Results in next several months and if successful will move forward.

4) Large Analog/Power company in Phase 3 looking at adopting MSTcad and moving forward.

Press release from Atomera:

LOS GATOS, CA / ACCESSWIRE / November 1, 2023 / Atomera Incorporated (NASDAQ:ATOM), a semiconductor materials and technology licensing company, today provided a corporate update and announced financial results for the third quarter ended Sept. 30, 2023.

Recent Company Highlights

• MST’s benefits for DRAMs highlighted in new whitepaper on Atomera’s website
• Positive results with customers across all market segments
• Atomera announced as partner in the Southwest Advanced Prototyping Hub which was awarded $39.8 million from the CHIPS and Science Act

Management Commentary

“The benefits of MST, including to DRAM and advanced nodes, are becoming increasingly clear to the industry as evidenced by our good progress with customers and increased participation in a number of development ecosystem organizations this past quarter,” said Scott Bibaud, President and CEO. “Building on the recently announced catalyst of our traditional MST business, we believe these new markets provide an opportunity for robust TAM expansion for Atomera.”

Financial Results

The Company incurred a net loss of ($5.0) million, or ($0.20) per basic and diluted share in the third quarter of 2023, compared to a net loss of ($4.6) million, or ($0.20) per basic and diluted share, for the third quarter of 2022. Adjusted EBITDA (a non-GAAP financial measure) in the second quarter of 2023 was a loss of ($4.2) million compared to an adjusted EBITDA loss of ($3.7) million in the third quarter of 2022.

The Company had $20.4 million in cash, cash equivalents and short-term investments as of Sept. 30, 2023, compared to $21.2 million as of December 31, 2022.

The total number of shares outstanding was 25.8 million as of Sept 30, 2023.