2023 Q1 Form 10-K Financial Statement

#000168316823000938 Filed on February 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $5.000K $382.0K
YoY Change -100.0% -4.5%
Cost Of Revenue $0.00 $0.00 $81.00K
YoY Change -100.0%
Gross Profit $0.00 $5.000K $301.0K
YoY Change -100.0% -24.75%
Gross Profit Margin 100.0% 78.8%
Selling, General & Admin $2.131M $1.888M $7.789M
YoY Change 8.01% 3.51% 8.94%
% of Gross Profit 37760.0% 2587.71%
Research & Development $3.036M $2.523M $10.04M
YoY Change 29.8% 12.18% 14.34%
% of Gross Profit 50460.0% 3334.88%
Depreciation & Amortization $20.00K $310.0K $77.00K
YoY Change 0.0% 1450.0% 14.93%
% of Gross Profit 6200.0% 25.58%
Operating Expenses $5.167M $4.411M $17.83M
YoY Change 19.83% 8.3% 11.92%
Operating Profit -$5.167M -$4.406M -$17.53M
YoY Change 28.6% 8.18% 12.86%
Interest Expense $53.00K $134.0K $255.0K
YoY Change -177.94% -281.08% -314.29%
% of Operating Profit
Other Income/Expense, Net $148.0K $85.00K
YoY Change -317.65% -171.43%
Pretax Income -$5.019M -$4.272M -$17.44M
YoY Change 22.83% 3.01% 11.46%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.019M -$4.272M -$17.44M
YoY Change 22.83% 2.57% 10.99%
Net Earnings / Revenue -85440.0% -4565.71%
Basic Earnings Per Share -$0.21 -$0.75
Diluted Earnings Per Share -$0.21 -$0.18 -$0.75
COMMON SHARES
Basic Shares Outstanding 23.97M shares 23.85M shares 23.16M shares
Diluted Shares Outstanding 23.66M shares 23.16M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.05M $21.18M $21.18M
YoY Change -30.26% -26.19% -26.19%
Cash & Equivalents $12.12M $21.18M $21.18M
Short-Term Investments $4.934M
Other Short-Term Assets $303.0K $418.0K $418.0K
YoY Change -64.18% 35.28% 35.28%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $17.36M $21.60M $21.60M
YoY Change -32.2% -25.53% -25.53%
LONG-TERM ASSETS
Property, Plant & Equipment $153.0K $158.0K $5.022M
YoY Change -97.67% -19.39% -27.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $105.0K $105.0K $105.0K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $4.780M $5.127M $5.127M
YoY Change -28.43% -27.3% -27.3%
TOTAL ASSETS
Total Short-Term Assets $17.36M $21.60M $21.60M
Total Long-Term Assets $4.780M $5.127M $5.127M
Total Assets $22.14M $26.73M $26.73M
YoY Change -31.42% -25.88% -25.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $423.0K $397.0K $397.0K
YoY Change 11.32% 17.46% 17.46%
Accrued Expenses $242.0K $173.0K $1.385M
YoY Change -66.3% -14.78% 35.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.240M $1.126M $1.126M
YoY Change -11.17% -19.28% -19.28%
Total Short-Term Liabilities $2.444M $2.908M $2.908M
YoY Change -2.0% 5.63% 5.63%
LONG-TERM LIABILITIES
Long-Term Debt $2.683M $2.986M $2.986M
YoY Change -30.67% -28.19% -28.19%
Other Long-Term Liabilities $475.0K $521.0K $521.0K
YoY Change -34.48% -32.16% -32.16%
Total Long-Term Liabilities $3.158M $3.507M $3.507M
YoY Change -31.27% -28.81% -28.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.444M $2.908M $2.908M
Total Long-Term Liabilities $3.158M $3.507M $3.507M
Total Liabilities $5.602M $6.415M $6.415M
YoY Change -20.98% -16.46% -16.46%
SHAREHOLDERS EQUITY
Retained Earnings -$188.3M -$183.3M
YoY Change 10.52%
Common Stock $204.8M $203.6M
YoY Change 4.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.53M $20.31M $20.31M
YoY Change
Total Liabilities & Shareholders Equity $22.14M $26.73M $26.73M
YoY Change -31.42% -25.88% -25.88%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$5.019M -$4.272M -$17.44M
YoY Change 22.83% 2.57% 10.99%
Depreciation, Depletion And Amortization $20.00K $310.0K $77.00K
YoY Change 0.0% 1450.0% 14.93%
Cash From Operating Activities -$4.234M -$2.918M -$12.50M
YoY Change 2.99% -3.92% 0.47%
INVESTING ACTIVITIES
Capital Expenditures $15.00K $13.00K $39.00K
YoY Change -193.75% -285.71% -135.78%
Acquisitions
YoY Change
Other Investing Activities -$4.942M
YoY Change
Cash From Investing Activities -$4.957M -$13.00K -$39.00K
YoY Change 30881.25% 85.71% -64.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $125.0K 828.0K $5.023M
YoY Change -203.31% -1900.0% 51.89%
NET CHANGE
Cash From Operating Activities -$4.234M -2.918M -$12.50M
Cash From Investing Activities -$4.957M -13.00K -$39.00K
Cash From Financing Activities $125.0K 828.0K $5.023M
Net Change In Cash -$9.066M -2.103M -$7.515M
YoY Change 113.42% -31.94% -18.7%
FREE CASH FLOW
Cash From Operating Activities -$4.234M -$2.918M -$12.50M
Capital Expenditures $15.00K $13.00K $39.00K
Free Cash Flow -$4.249M -$2.931M -$12.54M
YoY Change 3.76% -3.27% 1.67%

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<p id="xdx_805_eus-gaap--NatureOfOperations_z4EF9LvgXHYf" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 29px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_820_zCtDTRUVyF27">NATURE OF OPERATIONS</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Atomera Incorporated (“Atomera” or the “Company”) was incorporated in the state of Delaware in March 2007 under the name MEARS Technologies, Inc. and is engaged in the development, commercialization and licensing of proprietary processes and technologies for the semiconductor industry. On January 12, 2016, the Company changed its name to Atomera Incorporated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Atomera is an early-stage company, having only recently begun limited revenue-generating activities, and is devoting substantially all its efforts toward technology research and development and to commercially licensing its technology to designers and manufacturers of integrated circuits.</p>
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
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<p id="xdx_84C_eus-gaap--ConcentrationRiskCreditRisk_zYJxiJYeY6Jl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i><span id="xdx_86F_za7ThYJRsNve">Concentration of Credit Risk and Major Customers</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash, cash equivalents and accounts receivable. Two customers each represented <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pip0_dp_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zEjkwZ9dLHEg" title="Concentration of credit risk, percentage">79</span>% and <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pip0_dp_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--AnotherCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zhTerO54kZw2" title="Concentration of credit risk, percentage">20</span>%,of revenue during the year ended December 31, 2022 and one customer represented <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pip0_dp_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zC7QWsDM5yEb" title="Concentration of credit risk, percentage">100</span>% of revenue during the year ended December 31, 2021.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">At times, the amounts on deposit at the financial institution exceed the federally insured limits. Management believes that the financial institution which holds the Company’s cash is financially sound and, accordingly, minimal credit risk exists. As of December 31, 2022 and 2021, the Company’s cash balances were in excess of insured limits maintained at the financial institution.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
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Files In Submission

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