Atomera Inc.

02/23/2026 | Press release | Distributed by Public on 02/23/2026 05:05

Financial Results (Form 8-K)

Financial Results

Atomera Incorporated (the "Company") incurred a net loss of ($4.4) million, or ($0.14) per basic and diluted share in the fourth quarter of 2025, compared to a net loss of ($5.6) million, or ($0.17) per basic and diluted share, for the third quarter of 2025, and a net loss of ($4.7) million, or ($0.16) per basic and diluted share, for the fourth quarter of 2024. Adjusted EBITDA (a non-GAAP financial measure) in the fourth quarter of 2025 was a loss of ($3.3) million compared to an adjusted EBITDA loss of ($4.4) million in the third quarter of 2025 and ($3.9) million in the fourth quarter of 2024.

For fiscal year 2025, revenue was $65,000, compared with $135,000 in fiscal 2024. Net loss was ($20.2) million, or ($0.65) per basic and diluted share for fiscal 2025, compared to ($18.4) million, or ($0.68) per basic and diluted share in fiscal 2024. Adjusted EBITDA for fiscal 2025 was a loss of ($16.1) million compared to an adjusted EBITDA loss of ($15.4) million in fiscal 2024.

The Company had $19.2 million in cash, cash equivalents and short-term investments as of December 31, 2025, compared to $26.8 million as of December 31, 2024.

The total number of shares outstanding was 32.4 million as of December 31, 2025.

Note about Non-GAAP Financial Measures

In 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. We believe that this non-GAAP financial measure, viewed in addition to and not in lieu of our reported GAAP results, provides useful information to investors by providing a more focused measure of operating results. This metric is used as part of the Company's internal reporting to evaluate its operations and the performance of senior management. A table reconciling this measure to the comparable GAAP measure is available in the accompanying financial tables below.

-- Financial Tables Follow --

1

Atomera Incorporated

Balance Sheets

(in thousands, except per share data)

December 31, December 31,
2025 2024
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 19,210 $ 25,778
Short-term investments - 995
Accounts receivable - 6
Interest receivable 54 73
Prepaid expenses and other current assets 338 240
Total current assets 19,602 27,092
Property and equipment, net 60 59
Long-term prepaid maintenance and supplies - 91
Security deposit 14 14
Operating lease right-of-use asset 884 280
Financing lease right-of-use-asset 533 1,588
Total assets $ 21,093 $ 29,124
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 608 $ 492
Accrued expenses 168 239
Accrued payroll related expenses 650 1,328
Current operating lease liability 147 260
Current financing lease liability 420 1,253
Deferred revenue 7 4
Total current liabilities 2,000 3,576
Long-term operating lease liability 712 22
Long-term financing lease liability - 449
Total liabilities 2,712 4,047
Commitments and contingencies - -
Stockholders' equity:
Preferred stock $0.001 par value, authorized 2,500 shares; none issued and outstanding at December 31, 2025 and December 31, 2024 - -
Common stock: $0.001 par value, authorized 47,500 shares; 32,354 and 30,540 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively; 32 31
Additional paid-in capital 260,043 246,565
Other comprehensive income - 1
Accumulated deficit (241,694 ) (221,520 )
Total stockholders' equity 18,381 25,077
Total liabilities and stockholders' equity $ 21,093 $ 29,124
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Atomera Incorporated

Statements of Operations

(in thousands, except per share data)

Three Months Ended Year Ended
December 31, September 30, December 31, December 31,
2025 2025 2024 2025 2024
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenue $ 50 $ 11 $ 23 $ 65 $ 135
Cost of revenue (131 ) (128 ) (13 ) (321 ) (123 )
Gross margin (81 ) (117 ) 10 (256 ) 12
Operating expenses
Research and development 2,740 3,304 2,823 12,303 11,029
General and administrative 1,505 2,165 1,811 7,806 7,266
Selling and marketing 286 207 248 758 1,053
Total operating expenses 4,531 5,676 4,882 20,867 19,348
Loss from operations (4,612 ) (5,793 ) (4,872 ) (21,123 ) (19,336 )
Other income (expense)
Interest income 195 232 213 931 779
Accretion income - - 26 6 178
Other income, net 1 - 1 72 73
Interest expense (9 ) (12 ) (25 ) (60 ) (129 )
Total other income (expense), net 187 220 215 949 901
Net loss (4,425 ) $ (5,573 ) (4,657 ) (20,174 ) (18,435 )
Net loss per common share, basic and diluted (0.14 ) $ (0.17 ) (0.16 ) (0.65 ) (0.68 )
Weighted average number of common shares outstanding, basic and diluted 31,590 31,128 28,934 30,844 27,217
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Atomera Incorporated

Reconciliation to Non-GAAP Adjusted EBITDA

(Unaudited)

Three Months Ended Year Ended
December 31, September 30, December 31, December 31,
2025 2025 2024 2025 2024
Net loss (GAAP) (4,425 ) $ (5,573 ) (4,657 ) (20,174 ) (18,435 )
Depreciation and amortization 13 11 12 48 54
Stock-based compensation 1,334 1,342 949 4,963 3,867
Interest income (195 ) (232 ) (213 ) (931 ) (779 )
Accretion income - - (26 ) (6 ) (178 )
Other income, net (1 ) - (1 ) (72 ) (73 )
Interest expense 9 12 25 60 129
Net loss non-GAAP Adjusted EBITDA (3,265 ) $ (4,440 ) (3,911 ) (16,112 ) (15,415 )
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Atomera Inc. published this content on February 23, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on February 23, 2026 at 11:05 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]