Exhibit 99.1
Atomera Provides Third Quarter 2026 Results
LOS GATOS, Calif. Oct. 29, 2026 Atomera Incorporated (NASDAQ: ATOM), a semiconductor materials and technology licensing company, today provided a corporate update and announced financial results for the third quarter ended Sept. 30, 2026.
Recent Company Highlights
| · | Increased engagement count to three customers in gate-all-around | |
| · | Signed a Joint Development Agreement with IQE to bring high-performance, cost-effective RF GaN to market | |
| · | Demonstrated simpler, lower cost approach to enable next-generation DRAM transistors with MST |
Management Commentary
“This quarter we expanded our customer engagements in the advanced logic and memory segments, where AI continues to drive the need for higher transistor performance. Our ground-breaking nano-scale diffusion blocking work for gate-all-around transistors has generated interest not only with the GAA foundries, but also with designers of next generation memory solutions” said Scott Bibaud, president and CEO of Atomera. “While work in our traditional business is taking off, we also took an important step toward commercializing our GaN-on-silicon solutions by signing a joint development agreement with IQE, a leading supplier of compound semiconductor wafers.”
Financial Results
The Company incurred a net loss of ($6.0) million, or ($0.15) per basic and diluted share in the third quarter of 2026, compared to a net loss of ($5.6) million, or ($0.17) per basic and diluted share, for the third quarter of 2025. Adjusted EBITDA (a non-GAAP financial measure) in the third quarter of 2026 was a loss of ($4.6) million compared to an adjusted EBITDA loss of ($4.4) million in the third quarter of 2025.
The Company had $34.8 million in cash, cash equivalents and short-term investments as of Sept. 30, 2026, compared to $19.2 million as of December 31, 2025.
The total number of shares outstanding was 39.1 million as of September 30, 2026.
| 1 |
Third Quarter 2026 Results Webinar
Atomera will host a live video webinar today to discuss its financial results and recent progress.
Date: Thursday, Oct. 29, 2026
Time: 2:00 p.m. PT (5:00 p.m. ET)
Webcast: Accessible at https://ir.atomera.com
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.
About Atomera Incorporated
Atomera Incorporated is a semiconductor materials and technology licensing company focused on deploying its proprietary, silicon-proven technology into the semiconductor industry. Atomera has developed Mears Silicon Technology™ (MST®), which increases performance and power efficiency in semiconductor transistors. MST can be implemented using equipment already deployed in semiconductor manufacturing facilities and is complementary to other nano-scaling technologies already in the semiconductor industry roadmap. More information can be found at www.atomera.com.
Safe Harbor
This press release contains forward-looking statements concerning Atomera Incorporated, including statements regarding the prospects for the semiconductor industry generally and the ability of our MST technology to significantly improve semiconductor performance. Those forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially. Among those factors are: (1) the fact that, to date, we have only recognized minimal engineering services and licensing revenues thus subjecting us to all the risks inherent in an early-stage enterprise; (2) the risk that licensees or JDA customers do not advance to royalty-based manufacturing and distribution licenses; (3) our ability to add other licensees and/or JDA customers; (4) risks related to our ability to raise sufficient capital, as and when needed, to pursue the further development, licensing and commercialization of our MST technology; (5) our ability to protect our proprietary technology, trade secrets and know-how and (6) those other risks disclosed in the section "Risk Factors" included in our Annual Report on Form 10-K filed with the SEC on February 24, 2026. We caution readers not to place undue reliance on any forward-looking statements. We do not undertake, and specifically disclaim any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
-- Financial Tables Follow –
| 2 |
Atomera Incorporated
Condensed Balance Sheets
(in thousands, except per share data)
| September 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 23,268 | $ | 19,210 | ||||
| Short-term investments | 11,560 | – | ||||||
| Interest receivable | 152 | 54 | ||||||
| Prepaid expenses and other current assets | 456 | 338 | ||||||
| Total current assets | 35,436 | 19,602 | ||||||
| Property and equipment, net | 62 | 60 | ||||||
| Security deposit | 14 | 14 | ||||||
| Operating lease right-of-use asset | 2,731 | 884 | ||||||
| Financing lease right-of-use-asset | 196 | 533 | ||||||
| Total assets | $ | 38,439 | $ | 21,093 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 868 | $ | 608 | ||||
| Accrued expenses | 522 | 168 | ||||||
| Accrued payroll related expenses | 1,326 | 650 | ||||||
| Current operating lease liability | 1,908 | 147 | ||||||
| Current financing lease liability | 198 | 420 | ||||||
| Deferred Revenue | – | 7 | ||||||
| Total current liabilities | 4,822 | 2,000 | ||||||
| Long-term operating lease liability | 823 | 712 | ||||||
| Total liabilities | 5,645 | 2,712 | ||||||
| Commitments and contingencies | – | – | ||||||
| Stockholders’ equity: | – | – | ||||||
| Preferred stock $0.001 par value, authorized 2,500 shares; none issued and outstanding as of September 30, 2026 and December 31, 2025 | ||||||||
| Common stock: $0.001 par value, authorized 95,000 shares; 39,083 shares issued and outstanding as of September 30, 2026; and 32,354 shares issued and outstanding as of December 31, 2025 | 39 | 32 | ||||||
| Additional paid in capital | 292,874 | 260,043 | ||||||
| Other comprehensive income (loss) | (10 | ) | – | |||||
| Accumulated deficit | (260,109 | ) | (241,694 | ) | ||||
| Total stockholders’ equity | 32,794 | 18,381 | ||||||
| Total liabilities and stockholders’ equity | $ | 38,439 | $ | 21,093 | ||||
| 3 |
Atomera Incorporated
Condensed Statements of Operations
(Unaudited)
(in thousands, except per share data)
| Three Months Ended | Nine Months Ended | |||||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | |||||||||||||||||
| 2026 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||
| Revenue | $ | – | $ | 158 | $ | 11 | $ | 169 | $ | 15 | ||||||||||
| Cost of revenue | – | (26 | ) | (128 | ) | (152 | ) | (190 | ) | |||||||||||
| Gross margin | – | 132 | (117 | ) | 17 | (175 | ) | |||||||||||||
| Operating expenses | ||||||||||||||||||||
| Research and development | 3,647 | 3,287 | 3,304 | 10,391 | 9,563 | |||||||||||||||
| General and administrative | 2,338 | 3,167 | 2,165 | 7,838 | 6,301 | |||||||||||||||
| Selling and marketing | 343 | 437 | 207 | 1,199 | 472 | |||||||||||||||
| Total operating expenses | 6,328 | 6,891 | 5,676 | 19,428 | 16,336 | |||||||||||||||
| Loss from operations | (6,328 | ) | (6,759 | ) | (5,793 | ) | (19,411 | ) | (16,511 | ) | ||||||||||
| Other income (expense) | ||||||||||||||||||||
| Interest income | 254 | 172 | 232 | 623 | 736 | |||||||||||||||
| Accretion income | 75 | 178 | – | 310 | 6 | |||||||||||||||
| Interest expense | (7 | ) | (1 | ) | (12 | ) | (12 | ) | (51 | ) | ||||||||||
| Other income, net | – | 74 | – | 75 | 71 | |||||||||||||||
| Total other income, net | 322 | 423 | 220 | 996 | 762 | |||||||||||||||
| Net loss | $ | (6,006 | ) | $ | (6,336 | ) | $ | (5,573 | ) | $ | (18,415 | ) | $ | (15,749 | ) | |||||
| Net loss per common share, basic and diluted | $ | (0.15 | ) | $ | (0.17 | ) | $ | (0.17 | ) | $ | (0.49 | ) | $ | (0.51 | ) | |||||
| Weighted average number of common shares outstanding, basic and diluted | 38,899 | 38,647 | 31,128 | 37,614 | 30,593 | |||||||||||||||
| 4 |
Atomera Incorporated
Reconciliation to Non-GAAP EBITDA
(Unaudited)
| Three Months Ended | Nine Months Ended | |||||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | |||||||||||||||||
| 2026 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||
| Net loss (GAAP) | $ | (6,006 | ) | $ | (6,336 | ) | $ | (5,573 | ) | $ | (18,415 | ) | $ | (15,749 | ) | |||||
| Depreciation and amortization | 10 | 6 | 11 | 25 | 35 | |||||||||||||||
| Stock-based compensation | 1,746 | 1,741 | 1,342 | 4,893 | 3,629 | |||||||||||||||
| Interest income | (254 | ) | (172 | ) | (232 | ) | (623 | ) | (736 | ) | ||||||||||
| Accretion income | (75 | ) | (178 | ) | – | (310 | ) | (6 | ) | |||||||||||
| Interest expense | 7 | 1 | 12 | 12 | 51 | |||||||||||||||
| Other income, net | – | (74 | ) | – | (75 | ) | (71 | ) | ||||||||||||
| Net loss non-GAAP EBITDA | $ | (4,572 | ) | $ | (5,012 | ) | $ | (4,440 | ) | $ | (14,493 | ) | $ | (12,847 | ) | |||||
Investor Contact:
Bishop IR
Mike Bishop
(415) 894-9633
investor@atomera.com
| 5 |