Business
Atomera Provides Fourth Quarter and Fiscal 2019 Results
LOS GATOS, Calif., Feb. 12, 2020 (GLOBE NEWSWIRE) -- Atomera Incorporated (NASDAQ: ATOM), a semiconductor materials and intellectual property licensing
About this update from Atomera Incorporated
[{"type":"text","content":"LOS GATOS, Calif., Feb. 12, 2020 (GLOBE NEWSWIRE) -- Atomera Incorporated (NASDAQ: ATOM), a semiconductor materials and intellectual property licensing company focused on deploying its proprietary technology into the semiconductor industry, today provided a corporate update and announced financial results for the fourth quarter and fiscal year ended December 31, 2019.\n Company Highlights Record amount of customer activity as measured by wafer shipments and phase 3 engagementsStrong technical results in each of Atomera’s focus areasStrong cash position Management Commentary “Atomera has exited 2019 with very strong momentum, with more customer activity than at any time in our history,” said Scott Bibaud, President and CEO. “Our recent technology and customer advances give us confidence to increase investment in our business to accelerate our progress toward additional licenses and revenue growth.” Financial Results During the fourth quarter of 2019, revenue was $138,000, compared with $150,000 in the fourth quarter of 2018. The Company incurred a net loss of $(3.0) million, or ($0.18) per basic and diluted share in the fourth quarter of 2019, compared to a net loss of $(3.2) million, or ($0.22) per basic and diluted share, for the fourth quarter of 2018. Adjusted EBITDA (a non-GAAP financial measure) in the fourth quarter of 2019 was a loss of $(2.4) million compared to an adjusted EBITDA loss of $(2.7) million in the fourth quarter of 2018. For fiscal year 2019, revenue was $533,000, compared with $246,000 in fiscal 2018. Net loss was $(13.3) million, or ($0.84) per basic and diluted share for fiscal 2019, compared to $(12.9) million, or ($1.02) per basic and diluted share in fiscal 2018. Adjusted EBITDA for fiscal 2019 was a loss of $(10.7) million compared to an adjusted EBITDA loss of $(10.7) million in fiscal 2018. The Company had $14.9 million in cash and cash equivalents as of December 31, 2019, compared to $18.9 million as of December 31, 2018. The total number of shares outstanding was 17.1 million as of December 31, 2019. Fourth Quarter and Fiscal Year 2019 Results Conference Call and Webcast Atomera will host a conference call today to discuss its financial results and recent progress. Date: Wednesday, Feb. 12, 2020Time: 2:00 p.m. PT (5:00 p.m. ET)Phone: (844) 263-8318 (domestic); +1 (213) 3580960 (international)Repl...