Atomera Incorporated (NASDAQ:ATOM) reported its financial results for the fourth quarter and full fiscal year 2025 after the market closed on Wednesday, February 12, 2026. The semiconductor materials licensing company posted revenue and earnings that fell short of analyst expectations, contributing to a negative reaction in after-hours trading.
Earnings and Revenue Versus Estimates
The company’s financial performance for the quarter was mixed relative to Wall Street forecasts. While the per-share loss was slightly better than anticipated, revenue came in significantly below expectations.
- Q4 2025 Revenue: Reported at $50,000, missing the analyst consensus estimate of $102,000.
- Q4 2025 EPS: Reported a net loss of $0.14 per share, which was a marginal improvement over the estimated loss of $0.1428 per share.
For the full fiscal year 2025, revenue totaled $65,000, a decline from $135,000 in the prior year. The annual net loss widened to $20.2 million, or $0.65 per share, compared to a net loss of $18.4 million, or $0.68 per share, in fiscal 2024.
Market Reaction and Financial Position
The market’s immediate response to the earnings release was negative. In after-hours trading following the announcement, Atomera’s stock declined approximately 0.84%. This reaction appears primarily tied to the substantial revenue miss for the quarter, underscoring the market’s focus on the company’s progress toward generating meaningful commercial sales from its proprietary Mears Silicon Technology (MST).
The company’s balance sheet shows a continued reliance on its existing capital. Cash, cash equivalents, and short-term investments stood at $19.2 million as of December 31, 2025, down from $26.8 million a year earlier. Management did not provide specific financial guidance for the coming quarters in the press release. Analysts, however, are currently modeling for first-quarter 2026 revenue of $102,000 with a per-share loss of $0.1326.
Key Highlights from the Press Release
Beyond the financial figures, Atomera’s update emphasized technical and business development milestones, which management framed as signs of future potential. The press release highlighted several non-financial achievements:
- A claimed technical breakthrough demonstrating the manufacturability of its MST on next-generation Gate-All-Around (GAA) transistor structures.
- The first commercial customer beginning to run wafers using MST on Gallium Nitride (GaN), a material critical for power electronics.
- Advancement of a GaN-on-Silicon concept paper to the proposal phase within a Power America funding program.
CEO Scott Bibaud stated that the company is "presenting groundbreaking results to some of the most demanding customers in the industry" and cited "industry pull" for its work on new materials for data centers and advanced transistors.
Conclusion
Atomera’s fourth-quarter report paints a picture of a company still in the development and validation phase. While it continues to burn cash and generate minimal revenue, it is announcing progress in engaging with potential partners and advancing its technology for next-generation semiconductor applications. The market’s negative after-hours reaction suggests investors were disappointed by the pace of commercialization, as reflected in the quarterly revenue shortfall. The company’s ability to convert its technical milestones into sustained licensing revenue and partnerships will be the critical factor to watch in the coming periods.
For a detailed look at Atomera’s historical earnings and future analyst estimates, you can review the data here.
Disclaimer: This article is for informational purposes only and does not constitute investment advice, financial analysis, or a recommendation to buy or sell any security. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
