Atomera (ATOM)
NASDAQ:ATOM
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Atomera
(NASDAQ:ATOM)
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Rating:58Neutral
Price Target:
$8.00
▲(49.53% Upside)
Action:Reiterated
Date:05/14/26
The score reflects a strong technical uptrend and positive technology/lifetime-runway messaging from the earnings call, but it is constrained by very weak current financial performance (tiny revenue base, large losses, and persistent cash burn) and limited valuation support due to negative earnings and no dividend yield provided.
Positive Factors
Technical validation in GAA
Measured silicon validation on gate-all-around transistors is a durable technical milestone that materially de-risks MST integration. Demonstrated device-level improvement shortens qualification steps with major foundries, strengthening Atomera’s IP credibility and increasing the odds of future license or JDA conversions over months.
Negative Factors
Extremely low revenue base
Revenue remains negligible compared with operating costs, indicating limited commercial traction. Sustained tiny top-line inflows mean licensing or royalty scaling is unproven; until recurring production royalties appear, revenue volatility and dependence on one-off wafer fees constrain the company’s ability to self-fund growth.
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Positive Factors
Negative Factors
Technical validation in GAA
Measured silicon validation on gate-all-around transistors is a durable technical milestone that materially de-risks MST integration. Demonstrated device-level improvement shortens qualification steps with major foundries, strengthening Atomera’s IP credibility and increasing the odds of future license or JDA conversions over months.
Read all positive factors
Atomera (ATOM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$297.34M
Dividend YieldN/A
Average Volume (3M)464.54K
Price to Earnings (P/E)―
Beta (1Y)1.91
Revenue Growth-40.50%
EPS Growth1.62%
CountryUS
Employees20
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.65
Shares Outstanding38,716,500
10 Day Avg. Volume463,975
30 Day Avg. Volume464,540
Financial Highlights & Ratios
PEG Ratio0.77
Price to Book (P/B)3.71
Price to Sales (P/S)1048.70
P/FCF Ratio-4.58
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue3.66K
Enterprise Value/Gross Profit-703.25
Enterprise Value/Ebitda-12.78
Forecast
1Y Price Target
$10.00Price Target Upside86.92% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.52
Revenue Forecast (FY)$375.00K
Atomera Business Overview & Revenue Model
Company Description
Atomera Incorporated develops, commercializes, and licenses proprietary materials, processes, and technologies for the semiconductor industry in North America and the Asia Pacific. The company's lead technology is the Mears Silicon Technology, a t...
How the Company Makes Money
Atomera primarily makes money by licensing its MST intellectual property to semiconductor manufacturers and related industry partners. Its revenue model is typically structured around (1) license fees paid for the right to use MST in specified app...
Atomera Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call emphasized multiple meaningful technical validations (measured silicon for gate-all-around, a promising GaN parasitic-channel breakthrough, confirmed RF SOI results) and strengthened liquidity from a sizable equity raise, which materially improves runway. However, commercial revenue remains negligible ($11k Q1), net losses continue, and operating expenses rose YoY and materially sequentially (largely due to bonus timing and hiring). Customer adoption timelines and legal/commercial conversions remain uncertain and could take many months. On balance, technical momentum and a strong cash position outweigh the near-term financial constraints and timing risks, giving the company a positive outlook contingent on converting validations into licenses/JDAs.Positive Updates
Technical Validation in Gate-All-Around
Measured silicon results demonstrate MST provides a significant improvement for a critical source strain liner application in gate-all-around (GAA) transistors versus an industry-standard diffusion-control approach. Atomera is actively running demonstrations with wafers from 2 target GAA customers and is in discussions with the other major GAA developers (TSMC, Samsung, Intel, Rapidus). Structural (TEM) analysis can ship back quickly; full electrical qualification may take ~6 months as customer fabs run the wafers.
Negative Updates
Very Low Near-Term Revenue
Revenue in Q1 2026 was $11,000, consisting of wafer delivery fees; deferred revenue on the balance sheet is $96,000. Approximately $46,000 of revenue expected in Q1 was pushed to Q2. Management expects Q2 revenue of only $50,000–$100,000, indicating limited near-term commercial revenue visibility.
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Q1-2026 Updates
Positive
Negative
Technical Validation in Gate-All-Around
Measured silicon results demonstrate MST provides a significant improvement for a critical source strain liner application in gate-all-around (GAA) transistors versus an industry-standard diffusion-control approach. Atomera is actively running demonstrations with wafers from 2 target GAA customers and is in discussions with the other major GAA developers (TSMC, Samsung, Intel, Rapidus). Structural (TEM) analysis can ship back quickly; full electrical qualification may take ~6 months as customer fabs run the wafers.
Read all positive updates
Company Guidance
Management reiterated 2026 financial guidance and near-term operational targets: they are keeping 2026 annual non‑GAAP operating expense guidance at approximately $18.5 million (vs. $15.9M in 2025) and expect Q2 revenue of $50,000–$100,000 after recognizing $11,000 of Q1 revenue and carrying $96,000 of deferred revenue; Q1 GAAP net loss was $6.1M ($0.17/share) and non‑GAAP net loss was $4.9M ($0.14/share) (vs. Q1 2025 GAAP $5.2M/$0.17 and non‑GAAP $4.4M/$0.15), with Q1 GAAP OpEx $6.2M and non‑GAAP OpEx $4.8M (up $348K YoY) driven by higher S&M (+$203K), R&D (+$127K to $2.9M) and a $397K rise in stock‑based comp; sequentially Q1 non‑GAAP loss widened from $3.3M in Q4 and OpEx rose $1.6M (Q4 OpEx $3.2M) in part due to a previously withheld ~$669K executive bonus timing shift. They closed Q1 with $41.1M in cash and short‑term investments (up from $19.2M at 12/31/25) after a $25M registered direct offering (5.0M shares at $5.00, net $23.6M) and ~$3.2M from ATM sales (~1.3M shares at $2.47 avg); shares outstanding are ~38.7M and Q1 cash used in operations was $4.6M. On the technology side, they said measured silicon work and demos are underway with 2 of the 4 target gate‑all‑around customers (TSMC, Samsung, Intel, Rapidus), internal wafer turnaround for customer‑supplied structures may take 2–3 months plus several months of fab runs (roughly a ~6‑month path to electrical results), and they continue to pursue wafer‑based and license opportunities across GaN (200mm/300mm), RF SOI and memory while emphasizing disciplined cost control.Atomera Financial Statement Overview
Summary
Income Statement
6
Very Negative
Balance Sheet
55
Neutral
Cash Flow
12
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 72.00K | 65.00K | 135.00K | 550.00K | 382.00K | 400.00K |
| Gross Profit | -375.00K | -256.00K | 12.00K | 522.00K | 301.00K | 400.00K |
| EBITDA | -20.63M | -20.07M | -16.94M | -18.16M | -15.68M | -14.73M |
| Net Income | -21.04M | -20.17M | -18.43M | -19.79M | -17.36M | -15.71M |
Balance Sheet | ||||||
| Total Assets | 43.62M | 21.09M | 29.12M | 24.03M | 26.73M | 36.06M |
| Cash, Cash Equivalents and Short-Term Investments | 41.09M | 19.21M | 26.77M | 19.53M | 21.18M | 28.70M |
| Total Debt | 1.30M | 1.99M | 1.98M | 3.64M | 4.88M | 6.54M |
| Total Liabilities | 3.07M | 2.71M | 4.05M | 5.86M | 6.42M | 7.68M |
| Stockholders Equity | 40.55M | 18.38M | 25.08M | 18.17M | 20.31M | 28.38M |
Cash Flow | ||||||
| Free Cash Flow | -14.73M | -14.87M | -13.25M | -14.59M | -12.54M | -12.55M |
| Operating Cash Flow | -14.70M | -14.87M | -13.24M | -14.56M | -12.50M | -12.44M |
| Investing Cash Flow | -27.03M | 951.00K | 6.08M | -6.75M | -39.00K | -109.00K |
| Financing Cash Flow | 31.77M | 7.35M | 20.34M | 12.71M | 5.02M | 3.31M |
Atomera Technical Analysis
Neutral
5.35
Price Trends
6.26
Positive
4.86
Positive
4.06
Positive
Market Momentum
0.55
Positive
49.56
Neutral
17.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ATOM, the sentiment is Neutral. The current price of 5.35 is below the 20-day moving average (MA) of 8.55, below the 50-day MA of 6.26, and above the 200-day MA of 4.06, indicating a neutral trend. The MACD of 0.55 indicates Positive momentum. The RSI at 49.56 is Neutral, neither overbought nor oversold. The STOCH value of 17.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ATOM.
Atomera Risk Analysis
Atomera disclosed 24 risk factors in its most recent earnings report. Atomera reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Atomera Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $678.57M | -171.77 | 0.42% | ― | 15.94% | ― | |
69 Neutral | $293.61M | 36.05 | 3.70% | ― | -13.20% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $6.84B | -468.85 | -6.21% | ― | -0.14% | 25.60% | |
58 Neutral | $297.34M | -5.53 | -84.79% | ― | -40.50% | 1.62% | |
52 Neutral | $65.48M | -0.16 | -134.56% | ― | -34.03% | ― | |
50 Neutral | $100.40M | -13.63 | -15.69% | ― | 62.79% | 60.33% |
* Technology Sector Average
ATOM
Atomera
8.51
1.89
28.55%
ASYS
Amtech Systems
20.95
16.82
407.26%
AXTI
AXT
121.02
119.45
7608.28%
SQNS
Sequans Communications S A
4.05
-14.15
-77.75%
MRAM
Everspin Technologies
32.45
26.30
427.64%
WKEY
WISeKey International Holding
9.75
2.61
36.55%
Atomera Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Atomera Shareholders Approve Directors, Shares and Executive Pay
Positive
May 13, 2026
At Atomera Incorporated’s 2026 Annual Meeting of Stockholders, held on May 12, 2026, shareholders re-elected five directors—John Gerber, Scott Bibaud, Steve Shevick, Duy-Loan Le and Suja Ramnath—to serve until the 2027 annual mee...
Business Operations and StrategyPrivate Placements and Financing
Atomera Announces $25 Million Registered Direct Offering
Positive
Feb 24, 2026
On February 23, 2026, Atomera Incorporated entered into a securities purchase agreement with institutional investors for a registered direct offering of 5,000,000 common shares at $5.00 each, for expected gross proceeds of $25 million. The deal, c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.