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Atomera Provides Second Quarter 2020 Results
LOS GATOS, Calif., Aug. 05, 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., Aug. 05, 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 second quarter ended June 30, 2020.\n Company Highlights Grew to a record 17 customer engagements in Phase 3Validated Atomera’s breakthrough MST-SP results on customer siliconCompleted $10 million public offering of common stock Management Commentary “We are very pleased to continue making significant technical progress toward license agreements with large semiconductor manufacturers. Despite some minor slowdowns due to the pandemic, we have strengthened our overall pipeline by adding a 17th customer engagement to the critical Phase 3 of our engagement cycle,” said Scott Bibaud, President and CEO. “With recent promising results of our MST-SP technology on customer silicon, we are increasingly optimistic that adoption in 5 volt power and analog chips is closer than ever.” Second Quarter 2020 Financial Results During the second quarter of 2020, revenue was $0, compared with $70,000 in the second quarter of 2019. The Company incurred a net loss of $3.8 million, or ($0.21) per basic and diluted share, in the second quarter of 2020, compared to a net loss of $3.6 million, or ($0.24) per basic and diluted share, for the second quarter of 2019. Adjusted EBITDA (a non-GAAP financial measure) in the second quarter of 2020 was a loss of $3.0 million compared to an adjusted EBITDA loss of $2.9 million in the second quarter of 2019. The Company had $18.0 million in cash and cash equivalents as of June 30, 2020, compared to $14.9 million as of December 31, 2019. The total number of shares outstanding was 19.8 million as of June 30, 2020. Second Quarter 2020 Results Conference Call and Webcast Atomera will host a conference call today to discuss its financial results and recent progress. Date: Wednesday, Aug. 5, 2020Time: 2:00 p.m. PT (5:00 p.m. ET)Webcast: Accessible at www.atomera.comPhone: (844) 263-8318 (domestic); +1 (213) 358-0960 (international)Replay: Available until August 12, 2020; (855) 8592056 (domestic); +1(404) 537-3406 (international); passcode 921-6988. Note about Non-GAAP Financial Measures In addition to the una...