Atomera Incorporated Q1 FY2026 earnings call

Scott Vivo discussed progress across multiple customer markets. In gate-all-around, working with customers and strategic partners to validate MST in advanced geometries, had measured silicon results for a source drain liner application, actively working with target customers on evaluations. In memory, in discussions with large memory manufacturers and working on multiple solutions using MSE. In GAN, made advancements in RF GAN on silicon, preliminary data suggests MST can reduce parasitic channel, expanding partnerships across ecosystem, and expanded collaboration with Synopsys. Frank Lorenzio reviewed financials, discussed non-GAAP and GAAP results, cash position, and revenue expectations.

In Q1 2026, revenue was $11,000 from fees for wafer deliveries to a large IDM. GAAP net loss was $6.1 million or 17 cents per share, non-GAAP net loss was $4.9 million or 14 cents per share. GAAP operating expenses were $6.2 million in Q1 2026, an increase from Q1 2025. Non-GAAP operating expenses were $4.8 million in Q1 2026, with sales and marketing, R&D, and G&A expenses having specific year-over-year changes. Cash balance on March 31, 2026 was $41.1 million. Revenue in Q2 expected to be in range of $50,000 to $100,000 as some Q1 revenue pushed out.

Frank Lorenzio mentioned expected 2026 annual non-GAAP operating expense to be approximately $18.5 million. Expected Q2 revenue to be in the range of $50,000 to $100,000 as some Q1 revenue pushed out.

Richard asked about GATE all around measured silicon results, timeframe of work, comparison of progress between logic and memory, GAN applications, and STMicro engagement. Investor asked about equity raise background, tool partner relationship evolution, likelihood of GATE all-around engagements in 2026, and closest segment to producing royalty-bearing license. Scott and Frank answered these questions