Yahoo Finance Atomera Incorporated (NASDAQ:ATOM) Q1 2024 Earnings Call Transcript
Atomera Incorporated (NASDAQ:ATOM) Q1 2024 Earnings Call Transcript April 25, 2024
Atomera Incorporated misses on earnings expectations. Reported EPS is $-0.19 EPS, expectations were $-0.15. Atomera Incorporated isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Mike Bishop: Hello, everyone and welcome to Atomera’s First Quarter Fiscal Year 2024 Update Call. I’d like to remind everyone that this call and webinar are being recorded, and a replay will be available on Atomera’s IR website for 1 year. I am Mike Bishop with the company’s Investor Relations. As in prior quarters, we are using Zoom and we will follow a similar presentation format with participants in a listen-only mode. We will open with prepared remarks from Scott Bibaud, Atomera’s President and CEO and Frank Laurencio, Atomera’s CFO. Then we will open the call to questions. If you are joining by telephone, you may follow a slide presentation to accompany our remarks on the Events and Presentations section of our Investor Relations page on our website.
Before we begin, I’d like to remind everyone that during today’s call, we will make forward-looking statements. These forward-looking statements whether in prepared remarks or during the Q&A session, are subject to inherent risks and uncertainties. These risks and uncertainties are detailed in the Risk Factors section of our filings with the Securities and Exchange Commission, specifically in the company’s annual report on Form 10-K filed with the SEC on February 15, 2024. Except as otherwise required by federal securities laws, Atomera disclaims any obligation to update or make revisions to such forward-looking statements contained herein or elsewhere to reflect changes in expectations with regards to those events, conditions and circumstances.
Also, please note that during this call, we will be discussing non-GAAP financial measures as defined by SEC Regulation G. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in today’s press release, which is also posted to our website. Now, I would like to turn the call over to our President and CEO, Scott Bibaud. Scott, go ahead.
Scott Bibaud: Good afternoon and welcome to Atomera’s update call covering the first quarter of 2024. The past 3 months have seen more customer activity progressing to the proposal stage than any in our history. This unprecedented level of interest in our technology as a result of announced customer commercialization, widespread recognition of the efficacy of our MSC technology, and detailed solutions to these issues faced in today’s complex transistors. I will talk more about customer progress after a short comment on the semiconductor market. This year, we see the semiconductor industry modestly growing led by companies executing in the AI space. The pressure on leading-edge logic fabs to advance their latest nodes with high performance per watt is intense.
Most of the growth in the industry is happening here as well as in DRAM, which is snapping back strongly after contracting throughout 2023. In addition, Consumer Cellular is expected to show modest growth. Automotive with its associated power and analog component companies have softened as they work through inventory and see new competition from China, although the consensus seems to be that the outlook for the second half of the year is better. What does all this mean for Atomera? We are a company that benefits from modest capacity utilization at our IDM and foundry customers, so they can run R&D wafers. We continue to see this favorable environment for the medium term, except in the bleeding edge where capacity is tight, offset by a strong desire to improve performance yield and cost of those new manufacturing processes.
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