Atomera Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Atomera Inc. has submitted its 2023 annual 10-K filing, detailing its financial performance and business operations.</b>

AI Summary

Atomera Inc (ATOM) filed a Annual Report (10-K) with the SEC on February 15, 2024. Atomera Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company is incorporated in Delaware and operates in the Semiconductors & Related Devices sector. Its principal business address is located at 750 University Avenue, Suite 280, Los Gatos, CA 95032. The filing was made on February 15, 2024. Atomera Inc. was formerly known as MEARS TECHNOLOGIES INC, with a name change effective December 6, 2007.

Why It Matters

For investors and stakeholders tracking Atomera Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Atomera's financial health, operational status, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. Understanding the details within this report, such as revenue, expenses, and any disclosed risks, is essential for stakeholders to make informed investment decisions regarding Atomera Inc. (ATOM).

Risk Assessment

Risk Level: medium — Atomera Inc shows moderate risk based on this filing. The company's financial performance and ability to achieve profitability are subject to market adoption of its technology and successful commercialization, which carries inherent risks.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Atomera's path to commercialization and profitability.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-02-15 — Filing Date (Date the 10-K was submitted)
• 2023-01-01 — Fiscal Year Start (Reported period)
• 2022-12-31 — Prior Year End (Comparative period)

Key Players & Entities

• Atomera Inc (company) — Filer of the 10-K report
• MEARS TECHNOLOGIES INC (company) — Former name of Atomera Inc.
• 2023-12-31 (date) — Fiscal year end date
• 2024-02-15 (date) — Filing date
• 750 University Avenue, Suite 280, Los Gatos, CA 95032 (address) — Business and mailing address
• DE (state) — State of incorporation
• 3674 (sic_code) — Standard Industrial Classification for Semiconductors & Related Devices
• 001-37850 (filing_number) — SEC file number

FAQ

Industry Context

Atomera Inc. operates in the Semiconductors & Related Devices industry, a sector characterized by rapid technological advancements and significant capital investment.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K) detailing its financial condition and business operations.

What Investors Should Do

1. Review Atomera's full 10-K filing for detailed financial statements and management discussion.
2. Analyze the company's disclosed risk factors for potential business challenges.
3. Compare Atomera's 2023 performance against previous years' filings to identify trends.

Year-Over-Year Comparison

This filing represents the annual 10-K for the fiscal year ending December 31, 2023, providing a comprehensive update compared to previous quarterly or annual reports.

Key Financial Figures

• $0.001 — ch registered Common stock: Par value $0.001 ATOM Nasdaq Capital Market Securiti
• $530 — tary processes and technologies for the $530+ billion semiconductor industry. Our le

Filing Documents

• atomera_i10k-123123.htm (10-K) — 835KB
• atomera_ex2301.htm (EX-23.1) — 2KB
• atomera_ex3101.htm (EX-31.1) — 10KB
• atomera_ex3102.htm (EX-31.2) — 10KB
• atomera_ex3201.htm (EX-32.1) — 5KB
• atomera_ex9701.htm (EX-97.1) — 56KB
• image_001.jpg (GRAPHIC) — 28KB
• 0001683168-24-001031.txt (&nbsp;) — 4914KB
• atom-20231231.xsd (EX-101.SCH) — 35KB
• atom-20231231_cal.xml (EX-101.CAL) — 58KB
• atom-20231231_def.xml (EX-101.DEF) — 140KB
• atom-20231231_lab.xml (EX-101.LAB) — 363KB
• atom-20231231_pre.xml (EX-101.PRE) — 292KB
• atomera_i10k-123123_htm.xml (XML) — 594KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 20 Item 1C. Cybersecurity 21 Item 2.

Properties

Properties 21 Item 3.

Legal Proceedings

Legal Proceedings 21 Item 4. Mine Safety Disclosures 21 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 Item 6. Reserved 23 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 29 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 49 Item 9A.

Controls and Procedures

Controls and Procedures 49 Item 9B. Other Information 49 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 49 PART III Item 10. Directors, Executive Officers and Corporate Governance 50 Item 11.

Executive Compensation

Executive Compensation 50 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 50 Item 13. Certain Relationships and Related Transactions and Director Independence 50 Item 14. Principal Accountant Fees and Services 50 PART IV Item 15. Exhibits, Financial Statement Schedules 51 Item 16. Form 10-K Summary 53

Signatures

Signatures 54 i NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, that are intended to be covered by the "safe harbor" created by those sections. The words "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "should," "ongoing," "project," "plan," "expect" and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the following: our future financial and operating results; our intentions, expectations and beliefs regarding anticipated growth, technology adoption, market penetration and trends in our business; the timing and success of our plan of commercialization; our ability to operate our license and royalty-based business model; the effects of market conditions on our stock price and operating results; our ability to have our technology solutions gain market acceptance; the effects of competition in our market and our ability to compete effectively; our ability to maintain, protect and enhance our intellectual property; costs associated with initiating and defending intellectual property infringement and other claims; our expectations concerning our relationships with customers, potential customers, partners and other third parties; the attraction and retention of qualified employees and key personnel; future acquisitions of or investments in complementary companies or technologies; and our ability to comply with evolving legal standards and regulations, particularly concerning requirements for being a public company. These forward-looking statements are subject to a number of risks, uncertainties

Business

Business Company Overview We are engaged in the business of developing, commercializing and licensing proprietary processes and technologies for the $530+ billion semiconductor industry. Our lead technology, named Mears Silicon Technology, or MST , is a thin film of reengineered silicon, typically 100 to 300 angstroms (or approximately 20 to 60 silicon atomic unit cells) thick. MST can be applied as a transistor channel enhancement to CMOS-type transistors, the most widely used transistor type in the semiconductor industry. MST is our proprietary and patent-protected performance enhancement technology that we believe addresses a number of key engineering challenges facing the semiconductor industry. We believe that by incorporating MST, transistors can be made smaller, with increased speed, reliability and power efficiency. In addition, since MST is an additive and low-cost technology, we believe it can be deployed on an industrial scale, with machines commonly used in semiconductor manufacturing. We believe that MST can be widely incorporated into the most common types of semiconductor products, including analog, logic, optical and memory integrated circuits. We do not intend to design or manufacture integrated circuits directly. Instead, we develop and license technologies and processes that we believe offer the designers and manufacturers of integrated circuits a low-cost solution to the industry's need for greater performance and lower power consumption. Our customers and partners include: foundries, which manufacture integrated circuits on behalf of fabless manufacturers; integrated device manufacturers, or IDMs, which are the fully-integrated designers and manufacturers of integrated circuits; fabless semiconductor manufacturers, which are designers of integrated circuits that outsource the manufacturing of their chips to foundries; original equipment manufacturers, or OEMs, that manufacture the epitaxial, or epi, machines used to deposit semicondu

View Full Filing

View this 10-K filing on SEC EDGAR