Business
Atomera Provides Second Quarter 2024 Results
LOS GATOS, CA / ACCESSWIRE / July 30, 2024 / Atomera Incorporated (NASDAQ:ATOM), a semiconductor materials and technology licensing company, today provided a
About this update from Atomera Incorporated
[{"type":"text","content":"LOS GATOS, CA / ACCESSWIRE / July 30, 2024 / Atomera Incorporated (NASDAQ:ATOM), a semiconductor materials and technology licensing company, today provided a corporate update and announced financial results for the second quarter ended June 30, 2024.Recent Company HighlightsAnnounced the availability of an MST® RFSOI wafer substrates solution for leading-edge cellular communication productsAdded a new VP of Marketing and Business Development, Shawn ThomasSubmitted first proposal under the Chips and Sciences ActManagement Commentary\"Atomera continues to make good progress in technology development and commercial proposals across our targeted market segments, and with our lead customer on the path to production,\" said Scott Bibaud, President and CEO. \"With the recent addition of our strong new leadership in business development, we expect to convert these opportunities and others into license revenue for the company.\"Financial ResultsThe Company incurred a net loss of ($4.4) million, or ($0.16) per basic and diluted share in the second quarter of 2024, compared to a net loss of ($5.2) million, or ($0.21) per basic and diluted share, for the second quarter of 2023. Adjusted EBITDA (a non-GAAP financial measure) in the second quarter of 2024 was a loss of ($3.6) million compared to an adjusted EBITDA loss of ($4.3) million in the second quarter of 2023.The Company had $18.3 million in cash, cash equivalents and short-term investments as of June 30, 2024, compared to $19.5 million as of December 31, 2023.The total number of shares outstanding was 27.6 million as of June 30, 2024.Second Quarter 2024 Results WebinarAtomera will host a live video webinar today to discuss its financial results and recent progress.Date: Tuesday, July 30, 2024Time: 2:00 p.m. PT (5:00 p.m. ET)Webcast: Accessible at https://ir.atomera.comNote about Non-GAAP Financial MeasuresIn addition to the unaudited results presented in accordance with generally accepted accounting principles, or GAAP, in this press release, Atomera presents adjusted EBITDA, which is a non-GAAP financial measure. Adjusted EBITDA is determined by taking net loss and eliminating the impacts of interest, depreciation, amortization and stock-based compensation. Our definition of adjusted EBITDA may not be comparable to the definitions of similarly-titled measures used by other companies....