Atomera Inc. Files Q2 2024 10-Q Financial Report

TL;DR

Atomera's Q2 10-Q is in: check financials for semiconductor tech updates.

AI Summary

Atomera Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year. Key financial data and operational updates are detailed within the filing, which covers the period from January 1, 2024, to June 30, 2024.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Atomera Inc., crucial for understanding the company's trajectory in the semiconductor industry.

Risk Assessment

Risk Level: medium — As a technology company in a competitive sector, Atomera faces inherent risks related to market adoption, technological advancements, and financial performance.

Key Numbers

• 20240630 — End of Reporting Period (Covers financial data up to this date.)
• 20240730 — Filing Date (Date the 10-Q was officially submitted.)

Key Players & Entities

• Atomera Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240730 (date) — Filing date
• MEARS TECHNOLOGIES INC (company) — Former company name

FAQ

Key Financial Figures

• $0.001 — ch registered Common stock: Par value $0.001 ATOM Nasdaq Capital Market Indicate
• $50.0 million — ng aggregate offering proceeds of up to $50.0 million (the "ATM Facility"). During the three-
• $150,000 — established a monthly lease payment of $150,000 per month. The lease contains a provisi
• $137,650 — payments for this tool were adjusted to $137,650 per month for the period August 1, 2023
• $1,277 — The monthly rent payment increased from $1,277 per month to $2,365 per month and the i
• $2,365 — ment increased from $1,277 per month to $2,365 per month and the increased rent under
• $87,000 — months beginning on January 1, 2024 for $87,000 per month. Since the lease term is not
• $2,942 — rch 31, 2023. The cost of the lease was $2,942 per month. The components of lease co

Filing Documents

• atomera_i10q-063024.htm (10-Q) — 613KB
• atomera_ex3101.htm (EX-31.1) — 10KB
• atomera_ex3102.htm (EX-31.2) — 10KB
• atomera_ex3201.htm (EX-32.1) — 5KB
• 0001683168-24-005141.txt ( ) — 3791KB
• atom-20240630.xsd (EX-101.SCH) — 25KB
• atom-20240630_cal.xml (EX-101.CAL) — 46KB
• atom-20240630_def.xml (EX-101.DEF) — 109KB
• atom-20240630_lab.xml (EX-101.LAB) — 297KB
• atom-20240630_pre.xml (EX-101.PRE) — 234KB
• atomera_i10q-063024_htm.xml (XML) — 490KB

Financial Information

PART I. Financial Information Item 1.

Financial Statements

Financial Statements 3 Condensed Balance Sheets – June 30, 2024 (Unaudited) and December 31, 2023 3 Unaudited Condensed Statements of Operations – For the Three and Six Months Ended June 30, 2024 and 2023 4 Unaudited Condensed Statements of Comprehensive Loss – For the Three and Six Months Ended June 30, 2024 and 2023 5 Unaudited Condensed Statements of Stockholders' Equity – For the Three and Six Months Ended June 30, 2024 and 2023 6 Unaudited Condensed Statements of Cash Flows – For the Six Months Ended June 30, 2024 and 2023 7 Notes to the Unaudited Condensed Financial Statements 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 20

Other Information

PART II. Other Information Item 1A.

Risk Factors

Risk Factors 21 Item 5. Other Information 21 Item 6. Exhibits 21

Financial Information

PART I. Financial Information

Financial Statements

Item 1. Financial Statements Atomera Incorporated Condensed Balance Sheets (in thousands, except per share data) June 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 14,484 $ 12,591 Short-term investments 3,804 6,940 Accounts receivable 6 – Unbilled contracts receivable – 550 Interest receivable 74 79 Prepaid expenses and other current assets 578 244 Total current assets 18,946 20,404 Property and equipment, net 75 100 Long-term prepaid maintenance and supplies 91 91 Security deposit 14 14 Operating lease right-of-use asset 401 517 Financing lease right-of-use-asset 2,341 2,903 Total assets $ 21,868 $ 24,029 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 646 $ 618 Accrued expenses 249 222 Accrued payroll related expenses 594 1,382 Current operating lease liability 256 264 Current financing lease liability 1,386 1,328 Deferred revenue 13 – Total current liabilities 3,144 3,814 Long-term operating lease liability 137 295 Long-term financing lease liability 1,108 1,750 Total liabilities 4,389 5,859 Commitments and contingencies (see Note 9) – – Stockholders' equity: Preferred stock $ 0.001 par value, authorized 2,500 shares; none issued and outstanding as of June 30, 2024 and December 31, 2023 – – Common stock: $ 0.001 par value, authorized 47,500 shares; 27,622 shares issued and 27,610 outstanding as of June 30, 2024; and 26,107 shares issued and outstanding as of December 31, 2023 28 26 Additional paid in capital 229,726 221,229 Other comprehensive income (loss) ( 7 ) – Accumulated deficit ( 212,268 ) ( 203,085 ) Total stockholders' equity 17,479 18,170 Total liabilities and stockholders' equity $ 21,868 $ 24,029 The accompanying notes are an integral part of these condensed financial statements. 3 Atomera Incorporated Condensed Statements of O

View Full Filing

View this 10-Q filing on SEC EDGAR