Atomera Turns Gross Margin Positive in Second Quarter
Revenue was $158 thousand in the second quarter, producing $132 thousand of gross margin after a $115 thousand gross loss in the first quarter.
Atomera Incorporated (ATOM), a semiconductor materials and technology licensing company, recorded $158 thousand of revenue in the second quarter ended June 30, 2026, up from $11 thousand in the first quarter and zero a year earlier.
The company posted $132 thousand of gross margin, after a $115 thousand gross loss in the first quarter and a $62 thousand gross loss in the second quarter of 2025. Cost of revenue was $26 thousand.
Net loss widened to $6.3 million, or $0.17 a share, from $6.1 million, or $0.17 a share, in the first quarter, and from $5.0 million, or $0.17 a share, a year earlier. Adjusted EBITDA was a loss of $5.0 million, versus a $4.9 million loss in the first quarter and a $4.0 million loss a year earlier.
Research and development expense was $3.29 million, down from $3.46 million in the first quarter. General and administrative expense rose to $3.17 million from $2.33 million in the first quarter. Selling and marketing expense was $437 thousand. Total operating expenses were $6.9 million. Loss from operations was $6.8 million.
Cash, cash equivalents and short-term investments were $38.4 million as of June 30, 2026, down from $41.1 million as of March 31 after a $25 million registered direct offering in the first quarter. Cash and cash equivalents were $15.1 million, with $23.2 million in short-term investments. Shares outstanding were 39.0 million.
President and CEO Scott Bibaud said the company made excellent progress with customer engagements across key target markets, in particular advanced logic and memory, where AI is creating the need for further performance improvements.
Atomera said it announced a new approach to GaN-on-Silicon that addresses a key performance barrier for RF applications, continued strong progress with GAA customers, and growing interest from DRAM and flash memory providers.
On the conference-call materials, the company said MST in gate-all-around structures cleared a key milestone with one of two active customers and was in discussions with two other targets. It said it re-established the value proposition for DRAM 4F2, with a TCAD study confirming feasibility of a cheaper next-generation vertical access transistor, and that a major NAND supplier validated MST’s planar periphery boost for AI NAND performance.
Bibaud said RF designers had avoided GaN for high-volume applications because of the cost and complexity of GaN on silicon carbide, and that the company’s GaN-on-silicon results have the potential to enable a new class of RF devices using silicon substrates. The company said MST GaN-on-silicon showed more than 1,000 times lower harmonic distortion than control devices and 15 times better than the best published external GaN/silicon result, with H2/H3 crossover power increased by 15 dBm to more than 40 dBm.
The company said it has recognized only minimal engineering services and licensing revenues to date and remains subject to the risks of an early-stage enterprise, including the risk that licensees or JDA customers do not advance to royalty-based manufacturing and distribution licenses and the ability to raise sufficient capital.
Atomera will host a live video webinar to discuss the results.
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