Atomera Reports Revenue Increase to $11,000 but Incurs $6.1 Million Net Loss in Q1 2026

Atomera Incorporated has reported its financial results for the first quarter of 2026, revealing a modest increase in revenue and ongoing operational losses. The company generated revenue of $11,000 for the three months ended March 31, 2026, compared to $4,000 in the same period last year. This revenue primarily stemmed from engineering services related to the delivery of Mears Silicon Technology (MST) wafers. Despite the increase in revenue, Atomera incurred a net loss of $6.1 million, slightly higher than the $5.2 million loss reported in the first quarter of 2025.

The company's total operating expenses rose to approximately $6.2 million in Q1 2026, up from $5.5 million in the prior year. This increase was driven by higher research and development costs, which amounted to $3.5 million, reflecting a 6% increase from $3.3 million in Q1 2025. General and administrative expenses also rose to $2.3 million, a 12% increase from $2.1 million, primarily due to higher stock-based compensation and payroll costs. Selling and marketing expenses saw a significant increase of 238%, reaching $419,000, attributed to increased headcount and related expenses.

In terms of liquidity, Atomera reported cash, cash equivalents, and short-term investments totaling approximately $41.1 million as of March 31, 2026. The company raised approximately $26.5 million in net cash from financing activities during the quarter, primarily through a registered direct offering of 5 million shares at $5.00 per share and sales under its at-the-market offering. The company believes its available working capital is sufficient to fund its operations for at least the next 24 months, although it acknowledges the need for additional capital if revenue generation does not meet expectations.

Operationally, Atomera continues to focus on the development and commercialization of its MST technology, which aims to enhance semiconductor manufacturing processes. The company has engaged with various customers, including foundries and integrated device manufacturers, to license its technology. As of the end of the first quarter, Atomera had approximately 38.7 million shares outstanding, reflecting an increase from 32.4 million shares at the end of 2025, largely due to stock offerings. The company remains committed to advancing its technology and expanding its market presence, with ongoing efforts to secure commercial license agreements that will generate future revenue streams.