Atomera (ATOM)
NASDAQ:ATOM
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Atomera
(NASDAQ:ATOM)
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Rating:48Neutral
Price Target:
$4.00
▲(4.99% Upside)
Action:ReiteratedDate:03/21/26
The score is held down primarily by weak financial performance (minimal revenue, deep losses, and persistent cash burn). Offsetting factors include constructive—though mixed—technical signals and encouraging earnings-call updates on technical validation and partnerships, while valuation is constrained by negative earnings; the financing event supports liquidity but adds dilution.
Positive Factors
Technical validation: GAA integration
Demonstrated MST integration in nanosheet GAA silicon is a durable technical milestone. Compatibility with advanced GAA nodes materially expands addressable markets (leading foundries/IDMs) and underpins future licensing and royalty streams if customers adopt MST at scale, reducing technology adoption risk.
Negative Factors
Persistent cash burn
Sustained negative operating and free cash flow erodes runway and forces repeated external funding. Persistent cash burn translates losses into real liquidity drains, increasing execution and dilution risk over the next several quarters unless commercial revenue or financing cadence materially improves.
Read all positive and negative factors
Positive Factors
Negative Factors
Technical validation: GAA integration
Demonstrated MST integration in nanosheet GAA silicon is a durable technical milestone. Compatibility with advanced GAA nodes materially expands addressable markets (leading foundries/IDMs) and underpins future licensing and royalty streams if customers adopt MST at scale, reducing technology adoption risk.
Read all positive factors
Atomera (ATOM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$156.44M
Dividend YieldN/A
Average Volume (3M)464.54K
Price to Earnings (P/E)―
Beta (1Y)1.70
Revenue Growth-94.26%
EPS Growth3.20%
CountryUS
Employees20
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.14
Shares Outstanding38,722,970
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 Cap0.73
Enterprise Value/Revenue1.76K
Enterprise Value/Gross Profit-191.73
Enterprise Value/Ebitda-5.87
Forecast
1Y Price Target
$7.00Price Target Upside83.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.54
Revenue Forecast (FY)$400.00K
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:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Neutral
The call highlighted substantial and potentially high-value technical progress across multiple high-growth semiconductor markets—most notably definitive GAA silicon results, active wafer runs, a commercial GaN customer and a strategic OEM partnership. However, these technical advancements have yet to translate into meaningful revenue; the company remains pre-revenue on a commercial scale, reported ongoing net losses, experienced a material cash decline in 2025, and relied on dilutive equity financings. Commercial adoption timelines remain uncertain (6–9 month test cycles and customer validation), and 2026 expense accretion tied to bonus accruals will require achieving aggressive milestones. Overall, the technical momentum is strong but balanced by near-term financial and execution risks.Positive Updates
Breakthrough Gate-All-Around (GAA) Results
Obtained silicon results showing MST can be deposited into nanosheet GAA structures and delivers superior diffusion blocking versus currently used silicon arsenic; company expects customer evaluations and potential implementations with leading GAA customers (TSMC, Samsung, Intel and a new Japanese manufacturer) over the next few quarters.
Negative Updates
Very Low Revenue Base
Total revenue for 2025 was only $65,000 (consisting of NRE fees and MST CAD licensing), with only modest Q1 2026 revenue expected in the range of $50,000 to $100,000—indicating minimal near-term product revenue.
Read all updates
Q4-2025 Updates
Positive
Negative
Breakthrough Gate-All-Around (GAA) Results
Obtained silicon results showing MST can be deposited into nanosheet GAA structures and delivers superior diffusion blocking versus currently used silicon arsenic; company expects customer evaluations and potential implementations with leading GAA customers (TSMC, Samsung, Intel and a new Japanese manufacturer) over the next few quarters.
Read all positive updates
Company Guidance
Atomera gave narrow near‑term guidance and clear cost guidance: for Q1 2026 it expects revenue of $50,000–$100,000 from MST wafer shipments (no guidance beyond the quarter), and it forecasts 2026 non‑GAAP operating expenses of about $18.5 million (a reported 17% increase versus 2025’s $15.9M, or roughly an 8% increase when normalized for the timing of the executive bonus accrual); management also noted the $669,000 of 2025 executive bonus withheld may be paid in 2026 if aggressive commercial milestones are met. Key year‑end metrics discussed were $19.2M in cash, cash equivalents and short‑term investments (vs. $26.7M at 12/31/2024), $14.9M cash used in operating activities in 2025 ($3.2M in Q4), 2025 non‑GAAP net loss of $16.1M ($0.52/share) and Q4 non‑GAAP net loss of $3.3M ($0.10/share), 32.4M shares outstanding, ~1.6M shares sold under the 2025 ATM for ~$7.6M net (avg $5.15), plus a post‑year‑end sale of ~1.3M shares for ~$3.2M net (avg $2.47).Atomera Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
56
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 65.00K | 135.00K | 550.00K | 382.00K | 400.00K |
| Gross Profit | -304.00K | 12.00K | 522.00K | 301.00K | 400.00K |
| EBITDA | -20.07M | -16.94M | -18.16M | -15.68M | -14.73M |
| Net Income | -20.17M | -18.43M | -19.79M | -17.36M | -15.71M |
Balance Sheet | |||||
| Total Assets | 21.09M | 29.12M | 24.03M | 26.73M | 36.06M |
| Cash, Cash Equivalents and Short-Term Investments | 19.21M | 26.77M | 19.53M | 21.18M | 28.70M |
| Total Debt | 1.99M | 1.98M | 3.64M | 4.88M | 6.54M |
| Total Liabilities | 2.71M | 4.05M | 5.86M | 6.42M | 7.68M |
| Stockholders Equity | 18.38M | 25.08M | 18.17M | 20.31M | 28.38M |
Cash Flow | |||||
| Free Cash Flow | -14.87M | -13.25M | -14.59M | -12.54M | -12.55M |
| Operating Cash Flow | -14.87M | -13.24M | -14.56M | -12.50M | -12.44M |
| Investing Cash Flow | 951.00K | 6.08M | -6.75M | -39.00K | -109.00K |
| Financing Cash Flow | 7.35M | 20.34M | 12.71M | 5.02M | 3.31M |
Atomera Technical Analysis
Neutral
3.81
Price Trends
4.08
Negative
3.21
Positive
3.71
Positive
Market Momentum
-0.13
Positive
42.81
Neutral
12.82
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 3.81 is below the 20-day moving average (MA) of 4.49, below the 50-day MA of 4.08, and above the 200-day MA of 3.71, indicating a neutral trend. The MACD of -0.13 indicates Positive momentum. The RSI at 42.81 is Neutral, neither overbought nor oversold. The STOCH value of 12.82 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 23 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $2.62B | -33.79 | -10.41% | ― | -4.54% | -119.39% | |
60 Neutral | $212.71M | -357.39 | -0.80% | ― | -0.41% | -134.49% | |
56 Neutral | $172.16M | 417.23 | -58.96% | ― | -21.59% | -254.69% | |
48 Neutral | $156.44M | -3.38 | -116.86% | ― | -94.26% | 3.20% | |
44 Neutral | $41.75M | -0.61 | -99.13% | ― | 2.80% | ― | |
42 Neutral | $73.24M | -0.57 | -29.25% | ― | -42.77% | 83.21% |
* Technology Sector Average
ATOM
Atomera
4.04
-0.30
-6.91%
ASYS
Amtech Systems
11.95
7.15
148.96%
AXTI
AXT
47.14
45.61
2981.05%
SQNS
Sequans Communications S A
2.61
-18.59
-87.69%
MRAM
Everspin Technologies
9.20
4.13
81.46%
WKEY
WISeKey International Holding
6.35
2.30
56.79%
Atomera Corporate Events
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.