Business
Atomera Provides Third Quarter 2022 Results
LOS GATOS, CA / ACCESSWIRE / November 9, 2022 / Atomera Incorporated (NASDAQ:ATOM), a semiconductor materials and technology licensing company, today
About this update from Atomera Incorporated
[{"type":"text","content":"LOS GATOS, CA / ACCESSWIRE / November 9, 2022 / Atomera Incorporated (NASDAQ:ATOM), a semiconductor materials and technology licensing company, today provided a corporate update and announced financial results for the third quarter ended Sept. 30, 2022.Recent Company HighlightsCustomer results validate that MST provides unique benefits in More-than-Moore technologiesAtomera reveals MST advantages for use in leading-edge process technologiesEnds quarter in solid financial position to take advantage of favorable industry dynamicsManagement Commentary\"Progress with customers and R&D efforts continue to build on the momentum generated in the first half of 2022,\" said Scott Bibaud, President and CEO. \"The semiconductor industry's current slowdown provides a fertile environment for adoption of MST as customers seek out ways to gain competitive advantage through lower product costs, higher yield and better performance, from legacy nodes through the bleeding edge. Atomera is actively working with customers on concrete plans to bring MST from the lab to the fab.\"Financial ResultsThe Company incurred a net loss of ($4.6) million, or ($0.20) per basic and diluted share in the third quarter of 2022, compared to a net loss of ($4.2) million, or ($0.19) per basic and diluted share, for the third quarter of 2021. Adjusted EBITDA (a non-GAAP financial measure) in the third quarter of 2022 was a loss of ($3.7) million compared to an adjusted EBITDA loss of ($3.4) million in the third quarter of 2021.The Company had $23.3 million in cash and cash equivalents as of Sept. 30, 2022, compared to $28.7 million as of December 31, 2021.The total number of shares outstanding was 23.9 million as of Sept 30, 2022.Third Quarter 2022 Results WebinarAtomera will host a live video webinar today to discuss its financial results and recent progress.Date: Wednesday, Nov. 9, 2022Time: 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 defin...