Atomera(ATOM) - 2024 Q3 - Quarterly Results

Financial Performance - Atomera reported a net loss of $4.6 million, or$0.17 per share, for Q3 2024, an improvement from a net loss of $5.0 million, or$0.20 per share, in Q3 2023[3] - Adjusted EBITDA for Q3 2024 was a loss of $3.9 million, compared to a loss of$4.3 million in Q3 2023[3] - Total net loss for the nine months ended September 2024 was $(13,778) thousand, compared to$(15,210) thousand for the same period in 2023[12] - Non-GAAP EBITDA for September 2024 was $(3,881) thousand, compared to$(4,292) thousand in September 2023, indicating a reduction in losses[12] - The company continues to focus on reducing net losses and improving EBITDA metrics in future quarters[12] Cash and Investments - The company had $17.3 million in cash, cash equivalents, and short-term investments as of September 30, 2024, down from$19.5 million as of December 31, 2023[4] Operating Expenses - Total operating expenses for Q3 2024 were $4.8 million, slightly lower than$4.6 million in Q2 2024[11] - Research and development expenses increased to $2.8 million in Q3 2024 from$2.6 million in Q2 2024[11] - Depreciation and amortization expenses were $12 thousand for the three months ended September 2024, down from$20 thousand in the same period last year[12] - Stock-based compensation decreased to $907 thousand in September 2024 from$1,041 thousand in September 2023[12] - Interest expense for September 2024 was $30 thousand, a decrease from$47 thousand in September 2023[12] - Interest income for September 2024 was $(176) thousand, slightly improved from$(177) thousand in September 2023[12] - Accretion income for September 2024 was $(59) thousand, compared to$(112) thousand in September 2023[12] - Other income, net, was $(72) thousand for both September 2024 and September 2023, indicating no change[12] Market and Collaborations - Atomera announced a collaboration with Sandia National Laboratories to address GaN manufacturing challenges, indicating potential market expansion[2] - The company is optimistic about accelerating engagements in various segments, which may lead to new licenses and joint development agreements[2] Share Information - The total number of shares outstanding was 28.3 million as of September 30, 2024[4] Gross Margin - Atomera's gross margin for Q3 2024 was reported at 19%[11] Early-Stage Risks - The company has recognized minimal engineering services and licensing revenues to date, highlighting the risks of being an early-stage enterprise[7]