2024 Q2 Form 10-Q Financial Statement

#000168316824002847 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $72.00K $18.00K
YoY Change
Cost Of Revenue $74.00K $33.00K
YoY Change
Gross Profit -$2.000K -$15.00K
YoY Change
Gross Profit Margin -2.78% -83.33%
Selling, General & Admin $2.039M $2.161M
YoY Change -5.95% 1.41%
% of Gross Profit
Research & Development $2.589M $2.858M
YoY Change -18.89% -5.86%
% of Gross Profit
Depreciation & Amortization $294.0K $298.0K
YoY Change -5.16% 1390.0%
% of Gross Profit
Operating Expenses $4.628M $5.019M
YoY Change -13.66% -2.86%
Operating Profit -$4.630M -$5.034M
YoY Change -13.62% -2.57%
Interest Expense $150.0K $166.0K
YoY Change 48.51% 213.21%
% of Operating Profit
Other Income/Expense, Net $269.0K $46.00K
YoY Change 151.4% -68.92%
Pretax Income -$4.361M -$4.822M
YoY Change -15.35% -3.93%
Income Tax
% Of Pretax Income
Net Earnings -$4.361M -$4.822M
YoY Change -15.35% -3.93%
Net Earnings / Revenue -6056.94% -26788.89%
Basic Earnings Per Share -$0.16 -$0.19
Diluted Earnings Per Share -$0.16 -$0.19
COMMON SHARES
Basic Shares Outstanding 26.89M shares 26.62M shares
Diluted Shares Outstanding 26.47M shares 26.04M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.29M $19.26M
YoY Change -23.27% 12.97%
Cash & Equivalents $14.48M $14.81M
Short-Term Investments $3.804M $4.458M
Other Short-Term Assets $578.0K $328.0K
YoY Change -11.08% 8.25%
Inventory
Prepaid Expenses
Receivables $6.000K $0.00
Other Receivables $74.00K $73.00K
Total Short-Term Assets $18.95M $19.67M
YoY Change -22.78% 13.31%
LONG-TERM ASSETS
Property, Plant & Equipment $75.00K $3.164M
YoY Change -98.28% 1967.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $105.0K $105.0K
YoY Change 0.0% 0.0%
Total Long-Term Assets $2.922M $3.269M
YoY Change -34.4% -31.61%
TOTAL ASSETS
Total Short-Term Assets $18.95M $19.67M
Total Long-Term Assets $2.922M $3.269M
Total Assets $21.87M $22.93M
YoY Change -24.56% 3.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $646.0K $601.0K
YoY Change 14.95% 42.08%
Accrued Expenses $249.0K $927.0K
YoY Change -76.4% 283.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.386M $1.357M
YoY Change 2.14% 9.44%
Total Short-Term Liabilities $3.144M $2.902M
YoY Change 5.72% 18.74%
LONG-TERM LIABILITIES
Long-Term Debt $1.108M $1.431M
YoY Change -53.37% -46.66%
Other Long-Term Liabilities $137.0K $194.0K
YoY Change -65.75% -59.16%
Total Long-Term Liabilities $1.245M $1.625M
YoY Change -55.15% -48.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.144M $2.902M
Total Long-Term Liabilities $1.245M $1.625M
Total Liabilities $4.389M $4.527M
YoY Change -23.67% -19.19%
SHAREHOLDERS EQUITY
Retained Earnings -$212.3M -$207.9M
YoY Change 9.72% 10.4%
Common Stock $229.8M $226.3M
YoY Change 6.02% 10.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.48M $18.41M
YoY Change
Total Liabilities & Shareholders Equity $21.87M $22.93M
YoY Change -24.56% 3.61%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$4.361M -$4.822M
YoY Change -15.35% -3.93%
Depreciation, Depletion And Amortization $294.0K $298.0K
YoY Change -5.16% 1390.0%
Cash From Operating Activities -$3.164M -$4.149M
YoY Change -19.65% -2.01%
INVESTING ACTIVITIES
Capital Expenditures $6.000K $0.00
YoY Change 100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $689.0K $2.521M
YoY Change -111.66% -151.01%
Cash From Investing Activities $683.0K $2.521M
YoY Change -111.55% -150.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.159M 3.843M
YoY Change -79.7% 2974.4%
NET CHANGE
Cash From Operating Activities -3.164M -4.149M
Cash From Investing Activities 683.0K 2.521M
Cash From Financing Activities 2.159M 3.843M
Net Change In Cash -322.0K 2.215M
YoY Change -140.97% -124.43%
FREE CASH FLOW
Cash From Operating Activities -$3.164M -$4.149M
Capital Expenditures $6.000K $0.00
Free Cash Flow -$3.170M -$4.149M
YoY Change -19.56% -2.35%

Facts In Submission

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CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_803_eus-gaap--NatureOfOperations_zXQ2B50Bihvk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </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: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_825_zfqjStxqgW07">NATURE OF OPERATIONS</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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>
CY2024Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
19300000 usd
CY2024Q1 ATOM Working Capital
WorkingCapital
16800000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
18000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
0 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
18000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
0 usd
CY2024Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
17000 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4290000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3956000 shares
CY2024Q1 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
Effective May 1, 2023, the Company leased an additional 404 square feet at its Tempe office location under an amendment to its current lease. The monthly rent payment increased from $1,277 per month to $2,365 per month and the increased rent under the amended lease is accounted for as a modification to the lease under ASC 842 at the time of commencement.
CY2024Q1 us-gaap Lessee Operating Lease Option To Terminate
LesseeOperatingLeaseOptionToTerminate
The Company terminated its office lease in Cambridge, Massachusetts as of March 31, 2023. The cost of the lease was $2,942 per month.
CY2024Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
281000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
291000 usd
CY2024Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
39000 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
53000 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
320000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
344000 usd
CY2024Q1 ATOM Fixed Lease Costs
FixedLeaseCosts
66000 usd
CY2023Q1 ATOM Fixed Lease Costs
FixedLeaseCosts
62000 usd
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
261000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
297000 usd
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
327000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
359000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
110000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
56000 usd
CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
219000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
241000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0550 pure
CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0525 pure
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M24D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1400000 shares
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1024000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
927000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001683168-24-002847-index-headers.html Edgar Link pending
0001683168-24-002847-index.html Edgar Link pending
0001683168-24-002847.txt Edgar Link pending
0001683168-24-002847-xbrl.zip Edgar Link pending
atom-20240331.xsd Edgar Link pending
atomera_ex3101.htm Edgar Link pending
atomera_ex3102.htm Edgar Link pending
atomera_ex3201.htm Edgar Link pending
atomera_i10q-033124.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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atom-20240331_cal.xml Edgar Link unprocessable
atom-20240331_lab.xml Edgar Link unprocessable
atom-20240331_def.xml Edgar Link unprocessable
atom-20240331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
atomera_i10q-033124_htm.xml Edgar Link completed
R7.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending