Revenue: As of FY2025, the actual value is USD 65 K.EPS: As of FY2025, the actual value is USD -0.65.EBIT: As of FY2025, the actual value is USD -21.99 M.Atomera Incorporated operates as a single business segment, meaning all reported metrics apply to the company as a whole and are not segmented by specific operational areas.<h4>Revenue</h4>Revenue for Atomera Incorporated was approximately $65,000 for the year ended December 31, 2025, a decrease from approximately $135,000 in 2024. In 2025, North America accounted for $65,000 in revenue, with Europe having no revenue, while in 2024, North America generated $135,000 in revenue, also with no revenue from Europe. Revenue from products and services transferred at a point in time was $61,000 in 2025 and $50,000 in 2024, and revenue from products and services transferred over time was $4,000 in 2025 and $85,000 in 2024. In 2025, one customer represented 77% of revenue and another 23%, whereas in 2024, one customer represented 63% and another 37%.<h4>Cost of Revenue</h4>Cost of revenue was approximately $321,000 for 2025, an increase from approximately $123,000 in 2024.<h4>Gross Margin</h4>Gross margin was approximately -$256,000 in 2025, compared to $12,000 in 2024.<h4>Operating Expenses</h4>Total operating expenses were approximately $20.9 million in 2025, up from $19.3 million in 2024. Research and Development (R&amp;D) Expenses: R&amp;D expenses increased by 12% to approximately $12.3 million in 2025 from $11.0 million in 2024, primarily due to a $676,000 rise in outsourced fabrication costs, a $487,000 increase in stock-based compensation, and a $124,000 increase in employee-related expenses. General and Administrative (G&amp;A) Expenses: G&amp;A expenses rose by 7% to approximately $7.8 million in 2025 from $7.3 million in 2024, mainly driven by an $810,000 increase in stock-based compensation and a $114,000 increase in corporate legal fees, partially offset by a $421,000 decline in employee-related costs. Selling and Marketing Expenses: Selling and marketing expenses decreased by 28% to approximately $758,000 in 2025 from $1.1 million in 2024, primarily due to a reduction in headcount, which lowered employee-related costs, stock-based compensation, and travel expenses, partially offset by increased recruiting costs.<h4>Operating Margin</h4>Loss from operations was approximately -$21.1 million in 2025, an increase from -$19.3 million in 2024.<h4>Other Income (Expense), Net</h4>Total other income, net, was approximately $949,000 in 2025, compared to $901,000 in 2024. Interest Income: Interest income increased by 20% to approximately $931,000 in 2025 from $779,000 in 2024. Accretion Income: Accretion income was approximately $6,000 in 2025, a decrease from $178,000 in 2024. Other Income, Net: Other income, net, was approximately $72,000 in 2025, compared to $73,000 in 2024, primarily from a refundable state R&amp;D tax credit. Interest Expense: Interest expense decreased to approximately $60,000 in 2025 from $129,000 in 2024.<h4>Net Loss</h4>Atomera Incorporated reported a net loss of approximately -$20.2 million for 2025, compared to a net loss of approximately -$18.4 million for 2024.<h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Net cash used in operating activities was approximately -$14.9 million in 2025, primarily due to the net loss of -$20.2 million, adjusted by $5.0 million in stock-based compensation expense. In 2024, net cash used in operating activities was approximately -$13.2 million, primarily from a net loss of -$18.4 million, adjusted by $3.9 million in stock-based compensation and $1.3 million in right-of-use asset amortization.</li><li>Net Cash Provided by Investing Activities: Net cash provided by investing activities was approximately $951,000 in 2025, mainly from the maturity of short-term available-for-sale investments, offset by property and equipment acquisitions. In 2024, it was approximately $6.1 million, primarily from the maturity of short-term available-for-sale investments, offset by the purchase of short-term investments.</li><li>Net Cash Provided by Financing Activities: Net cash provided by financing activities was approximately $7.4 million in 2025, primarily from net proceeds of $7.6 million from the ATM Facility and $905,000 from stock option exercises, partially offset by -$1.2 million in principal payments on a financing lease. In 2024, it was approximately $20.3 million, mainly from net proceeds of $21.3 million from the ATM Facility, partially offset by -$1.1 million in principal payments on a financing lease.</li></ul><h4>Liquidity and Capital Resources</h4>As of December 31, 2025, Atomera Incorporated had cash and cash equivalents of approximately $19.2 million and working capital of approximately $17.6 million. The company completed a registered direct offering on February 24, 2026, generating net proceeds of approximately $23.6 million after commissions and offering expenses. Management believes that the available working capital, including the proceeds from the February 2026 offering, is sufficient to fund its current business plans and obligations for at least the next 24 months from the filing date of the report.<h4>Outlook / Guidance</h4>Atomera Incorporated expects to continue experiencing negative cash flows from operations until it secures R&amp;D and HVM license agreements and customers ship sufficient volumes of royalty-bearing products and pay upfront license fees. The company’s operating plans for the next 12 months include increased research and development expenses. If additional capital is needed and not available on reasonable terms, the company may be unable to pursue its business plan or continue operations, potentially requiring a curtailment of research and development initiatives and cost reductions.

Atomera | 10-K: FY2025 Revenue: USD 65 K