Atomera Posts No Q3 Revenue, Highlights GAA and Memory Work

Atomera Incorporated (ATOM) reported no revenue for the third quarter of 2026 and a wider year-over-year net loss, while highlighting customer engagement around its Mears Silicon Technology, or MST, for advanced logic, memory and other semiconductor applications.

Revenue for the three months ended September 30 was zero, compared with $158,000 in the second quarter of 2026 and $11,000 in the year-earlier period. Atomera posted a GAAP net loss of $6.01 million, or $0.15 per share, versus $6.34 million, or $0.17 per share, in the preceding quarter and $5.57 million, or $0.17 per share, a year earlier.

The company’s GAAP operating loss was $6.33 million, narrowing from $6.76 million sequentially but widening from $5.79 million in the third quarter of 2025. Adjusted EBITDA, a non-GAAP measure, was a loss of $4.57 million, compared with losses of $5.01 million in the second quarter and $4.44 million a year earlier.

Spending shifts toward research and development

Total operating expenses were $6.33 million, down from $6.89 million in the prior quarter but above $5.68 million in the year-ago period. Research and development expense increased to $3.65 million from $3.29 million both sequentially and a year earlier.

General and administrative expense was $2.34 million, down from $3.17 million in the second quarter but up from $2.17 million a year ago. Sales and marketing expense totaled $343,000, compared with $437,000 in the prior quarter and $207,000 in the third quarter of 2025.

Excluding stock-based compensation, depreciation and amortization, total non-GAAP operating expenses were $4.57 million. That compared with $5.14 million in the second quarter and $4.32 million a year earlier.

Atomera ended the quarter with $34.83 million in cash, cash equivalents and short-term investments, down from $38.35 million at the end of June but above $20.32 million a year earlier. The company reported no debt.

MST targets advanced logic and memory applications

Atomera licenses MST, a quantum-engineered materials technology intended to improve transistor performance. The company said it is engaged with three of the four customers working on gate-all-around, or GAA, technology, and described MST as addressing a key challenge in three-dimensional semiconductor devices. Atomera said it is pursuing a path toward making MST a standard feature, though the presentation did not provide a commercialization timetable or financial guidance.

The company also identified next-generation memory as a priority, including DRAM, high-bandwidth memory and NAND. In a proposed 4F2 DRAM application, Atomera said MST could limit phosphorus diffusion, prevent hole generation and simplify manufacturing by eliminating two selective epitaxy steps and one wafer-bonding MST module.

Other focus areas include radio-frequency silicon-on-insulator, power semiconductors and gallium nitride. Atomera is jointly developing a GaN-on-silicon wafer with IQE. Under the collaboration described in the presentation, Atomera contributes MST-enabled silicon substrates, while IQE provides GaN epitaxy and volume wafer manufacturing for foundry and integrated device manufacturer customers.

Atomera did not provide quarterly revenue or earnings guidance. The company cautioned that its forward-looking plans remain subject to risks and uncertainties and that actual results could differ materially from its expectations.