Key Highlights

● Gross Margin turned positive at $132,000, versus negative figures in the prior two quarters.

● The net loss widened to $6.3 million, or $0.17 per share, from $5.0 million a year earlier.

● Revenue reached $158,000 for the quarter, up sharply from $11,000 in the first quarter.

● Cash and short-term investments stood at $38.4 million, up from $19.2 million at year-end 2025.

Profitability remains the open question at Atomera Incorporated (NASDAQ:ATOM), a semiconductor materials and technology licensing company. In its second-quarter 2026 report, the company showed one encouraging data point: gross margin turned positive at $132,000, compared with a negative $115,000 in the first quarter and negative $62,000 a year earlier. However, the Bottom Line moved the other way. The net loss widened to $6.3 million, or $0.17 per share, from $5.0 million in the second quarter of 2025. The contrast illustrates the stage Atomera occupies: early in commercialization, with small but growing revenue set against a cost base built for development.

Latest Company Context

Atomera reported revenue of $158,000 for the quarter ended June 30, 2026, up from $11,000 in the first quarter and no revenue in the second quarter of 2025. Six-month revenue was $169,000, compared with $4,000 a year earlier. Operating expenses totaled $6.89 million, comprising Research and Development of $3.29 million, general and administrative costs of $3.17 million and sales and Marketing of $0.44 million. The loss from operations was $6.76 million. Adjusted EBITDA, a non-GAAP measure, was a loss of $5.01 million versus a loss of $3.97 million a year earlier. On the balance sheet, cash, cash equivalents and short-term investments stood at $38.4 million at June 30, 2026, up from $19.2 million of cash at the end of 2025.

Key Business and index Drivers

Atomera's business model centers on licensing its Mears Silicon Technology to semiconductor manufacturers, so profitability depends on customers moving from evaluation and development agreements to royalty-bearing production licenses. The company's release pointed to three areas of activity. It announced a new approach to GaN-on-Silicon aimed at a key performance barrier for radio-frequency applications, which management said could allow RF devices to capture gallium nitride performance on lower-cost silicon substrates. It also reported continued progress with gate-all-around customers and growing interest from DRAM and flash memory providers. No specific licensing agreements or customer names were disclosed. On index exposure, no current membership in a major US index could be verified from available sources.

What Investors Should Watch

Investors may watch several developments. The first is whether progress with customers converts into signed production licenses and recurring Royalty revenue, which would be the most direct route to improved profitability. The second is the pace of operating expenses relative to revenue, since quarterly adjusted EBITDA losses of around $5 million remain far larger than current sales. The third is cash runway and funding. The improvement in Liquidity from year-end suggests the company raised Capital during the first half, and the company has acknowledged it may need to raise additional capital as needed, which could dilute existing shareholders.

A Milestone Margin That Has Yet to Become a Trend

Atomera's second quarter combined a modest gross-profit milestone with a larger net loss, a pattern common among early-stage technology licensors. The company has more cash than it did at the start of the year and a set of customer engagements across logic, memory and RF markets, but commercial scale has yet to appear in the numbers. Outcomes could vary widely depending on licensing timelines and funding needs.