Start here if you're new
what it is
Atomera sells a thin silicon layer that helps chip transistors run smaller, faster, and use less power.
how it gets paid
Last year Atomera made $65K in revenue. MST licensing was the main engine at $26K, or 40% of sales.
why growth slowed
Revenue fell 51.9% last year. The n/a gross margin is the number that mattered.
what just happened
Atomera's latest quarter delivered $15K of revenue and a $0.51 loss per share.
At a glance
B balance sheet — gets the job done, barely
95/100 earnings predictability — you can trust these numbers
-$0.68 fy2024 eps est
$1M fy2023 rev est
operating loss — revenue too small for a clean margin %
xvary composite: 43/100 — below average
What they do
Atomera sells a thin silicon layer that helps chip transistors run smaller, faster, and use less power.
Atomera sells MST, a 100-to-300 angstrom silicon layer. That is a sliver, not a factory. You are buying a patent-protected idea that tries to ride inside other people's chip lines, so licensing fees → payment for use → can repeat without adding many people; the company has 20 employees.
How they make money
$65K
annual revenue · their business grew -51.9% last year
MST licensing
$26K
Engineering support
$17K
Collaboration fees
$12K
Other income
$10K
The products that matter
semiconductor materials ip
Mears Silicon Technology (MST)
$65K · total company revenue
This is the core invention behind the story. It sits behind 200+ patents, but the latest quarter on this page is only ~$15K of revenue. That gap is the entire investment debate.
200+ patents
licensing contracts
Technology Licensing
$65K · sole revenue stream
This is all of the revenue today. When one line produces 100% of sales and total sales are $65K, every customer update matters more than any traditional segment breakdown.
100% of revenue
commercial adoption pipeline
Partner programs
2026 · key external timeline
The STMicroelectronics timeline slipping into 2026 tells you where the real bottleneck sits. The science may be interesting. You still need a customer to move from testing to paying.
proof pending
Key numbers
$65K
annual revenue
You are looking at $65K of sales against a $178M market cap. That is about 2,738x sales.
loss-making
operating result
At ~$65K annual revenue, reported “margin %” blows up from tiny denominators— treat this as heavy loss and cash burn, not a positive ratio.
1.4
beta
Beta → how much the stock moves versus the market → 1.4 means you get extra swing from a company with tiny sales.
95
predictability
Earnings predictability → how steady results usually are → 95 looks strong, but the current business still loses money.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for ATOM right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Atomera's latest quarter delivered $15K of revenue and a $0.51 loss per share.
Revenue was up 36% vs. prior year on a tiny base; gross margin n/a (verify filings) from inputs— verify in the filing). The company still loses money on each dollar of reported sales.
$15K
quarter revenue
-$0.51
eps
n/a
gross margin (loss)
gross margin
The n/a gross margin is the number that mattered. You are not seeing a normal slowdown; you are seeing a business that cannot cover direct costs.
source: company earnings report, 2026
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What could go wrong
Atomera's risk profile is unusually concentrated: commercial adoption has to arrive before the cash burn forces tougher financing choices.
med
commercialization never arrives
Annual revenue was just $65K, and quarterly revenue was $50K. If MST does not convert from evaluation work into repeatable licensing revenue, the 200+ patent story stays technical rather than economic.
At a $178M market cap, the stock is priced for a future business that has not shown up in the income statement yet.
med
cash burn ends with dilution
FY2025 net loss was -$20.2M. A B balance sheet buys time, not immunity. If losses keep running far ahead of revenue, new capital can come at your expense rather than your benefit.
This is the classic pre-scale public company setup: shareholders fund the waiting period, and the waiting period is the whole question.
med
partner delays keep resetting the clock
The STMicroelectronics timeline was pushed into 2026. When the business is this small, one delayed program can reset sentiment faster than any conference presentation can repair it.
Delay does not kill the thesis by itself. Repeated delay tells you commercial adoption is harder than the market assumed.
med
valuation compresses before revenue expands
The company trades at $178M with just $65K in annual revenue and a $2–$8 52-week range. That leaves very little room for investors to suddenly demand proof.
If the market stops paying for optionality, the multiple can fall long before the business has numbers strong enough to catch it.
A -$20.2M annual loss against $65K in annual revenue makes the math brutally simple: commercialization needs to arrive before dilution becomes the default bridge.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q1 2026 earnings report
The report is due Apr 29, 2026. You are looking for one thing above all else: any evidence that quarterly revenue moves meaningfully above the current $50K level.
partner progress
STMicroelectronics timeline
The program was pushed to 2026. If that timeline firms up, the stock gets a proof point. If it slips again, the market will hear that louder than any patent update.
revenue
licensing revenue scale
Annual revenue is just $65K. Until you see revenue stop looking like a rounding error, it is hard to argue the model has crossed from R&D promise into commercialization.
capital
burn versus balance sheet
The annual loss was -$20.2M. Watch how long management can fund the wait for a real deal without asking you to fund more of it.
Analyst rankings
earnings predictability
95 / 100
in human-speak, the numbers usually land close to expectations. that does not mean the business is strong. it means the weakness is visible early.
beta
1.4
Beta measures how hard the stock tends to move versus the market. At 1.4, you should expect more swing than the index and less help from calm fundamentals.
risk rank
4
Safer than 20% of stocks is not comforting. It tells you this name sits on the speculative end of the public market.
source: institutional data
Institutional activity
institutional ownership data for ATOM is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$5
current price
n/a
target midpoint · n/a from current
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