Mission Statement, Vision, & Core Values (2024) of Atomera Incorporated (ATOM)

An Overview of Atomera Incorporated (ATOM)

General Summary of Atomera Incorporated

Atomera Incorporated (ATOM) was incorporated in March 2007 under the name MEARS Technologies, Inc. and later changed its name on January 12, 2016. The company focuses on the development, commercialization, and licensing of proprietary processes and technologies for the semiconductor industry, particularly its Mears Silicon Technology (MST). As of 2024, Atomera has generated limited revenue primarily through engineering services, integration license agreements, and licensing of MSTcad software.

In 2024, Atomera reported revenue of approximately $112,000 for the nine months ended September 30, primarily from MSTcad licensing and related consulting services. The company has limited product offerings, mainly consisting of technology integration services and licenses for semiconductor manufacturing processes.

Company's Financial Performance in the Latest Financial Reports

For the three months ended September 30, 2024, Atomera reported a net loss of $4.6 million, compared to a net loss of $5.0 million for the same period in 2023. For the nine months ended September 30, 2024, the net loss was $13.8 million, compared to $15.2 million in 2023. This reflects a reduction in losses year-over-year as the company continues to manage its operating expenses.

Operating expenses decreased from $15.9 million in the first nine months of 2023 to $14.5 million in 2024, largely due to reduced research and development costs following the cessation of outsourced services. Research and development expenses for the nine months ended September 30, 2024, were approximately $8.2 million, down from $9.5 million in 2023.

Introduction to Atomera as a Leader in the Industry

Atomera is positioned as a leading innovator in the semiconductor technology sector, focusing on enhancing the performance and efficiency of semiconductor devices through its proprietary MST technology. The company has established key partnerships, including a significant agreement with STMicroelectronics, which allows for the manufacturing and distribution of MST-enabled products. This partnership is expected to generate future royalty income as products are commercialized.

As of September 30, 2024, Atomera maintained a cash and cash equivalents balance of approximately $13.8 million, alongside short-term investments totaling $3.6 million. The company has sufficient working capital to support its operations and future growth initiatives over the next 12 months.

Continued investment in research and development and strategic collaborations are integral to Atomera’s success as it seeks to capitalize on emerging opportunities within the semiconductor industry.

Mission Statement of Atomera Incorporated (ATOM)

Mission Statement Overview

Atomera Incorporated (ATOM) is committed to delivering innovative semiconductor technology solutions that enhance performance and efficiency in the electronics industry. The mission statement underscores the company's dedication to providing high-quality products and services that meet the evolving needs of its customers.

Core Components of Atomera's Mission Statement

1. Innovation

Atomera emphasizes innovation as a core component of its mission. The company focuses on developing proprietary technologies, particularly its MST (Molecular Beam Epitaxy) technology, which aims to improve semiconductor manufacturing processes. In 2024, Atomera reported a total expenditure of approximately $8.2 million on research and development, reflecting a commitment to advancing its technological capabilities.

2. Quality

Quality is paramount in Atomera's mission. The company aims to deliver products that meet the highest standards of performance and reliability. For the nine months ended September 30, 2024, Atomera generated revenue of approximately $112,000 from its MSTcad licensing and engineering services, indicating a focus on quality in its service offerings. The company has established rigorous testing protocols to ensure that its technologies, such as MSTcad, are effective and reliable in real-world applications.

3. Customer Commitment

Atomera's mission statement reflects a strong commitment to customer satisfaction. The company seeks to build long-term relationships with its clients by providing tailored solutions that address specific needs. As of September 30, 2024, Atomera's cash and cash equivalents totaled approximately $13.8 million, providing the company with the financial stability to invest in customer-focused initiatives. Additionally, Atomera's license agreement with STMicroelectronics, executed in April 2023, illustrates its strategy to align closely with key industry players to enhance customer value.

Atomera's mission statement serves as a guiding framework for its strategic initiatives, focusing on innovation, quality, and customer commitment to navigate the competitive landscape of the semiconductor industry effectively.

Vision Statement of Atomera Incorporated (ATOM)

Vision Statement Overview

As of 2024, Atomera Incorporated (ATOM) articulates a vision focused on advancing semiconductor technology through its proprietary MST (Molecular Semiconductor Technology). The company's vision emphasizes innovation, sustainability, and customer collaboration to enhance semiconductor performance and efficiency.

Innovation in Semiconductor Technology

Atomera aims to be at the forefront of semiconductor technology innovation. The company is committed to developing solutions that not only enhance the performance of semiconductor devices but also reduce their environmental impact. The MST technology is central to this vision, promising significant improvements in energy efficiency and performance metrics.

Sustainability Commitment

Atomera's vision includes a strong commitment to sustainability. The company recognizes the growing demand for environmentally friendly technologies in the semiconductor industry. By focusing on sustainable practices, Atomera aims to minimize waste and energy consumption associated with semiconductor manufacturing.

Customer Collaboration

Central to Atomera's vision is the collaboration with customers and partners. The company seeks to co-develop technologies that meet specific industry needs, thereby enhancing customer satisfaction and loyalty. This collaborative approach is expected to drive innovation and accelerate the adoption of MST technology across various markets.

Financial Overview

Market Position and Future Outlook

Atomera is positioned to leverage its technological advancements for future growth. The company plans to expand its market reach and enhance its product offerings while maintaining a focus on innovation and sustainability. The financial metrics indicate a gradual improvement, with a reduction in net loss compared to previous periods, suggesting a potential pathway to profitability as the company scales its operations and enhances revenue generation.

Core Values of Atomera Incorporated (ATOM)

Core Values of Atomera Incorporated (ATOM)

Innovation

Innovation is a fundamental value at Atomera Incorporated, driving its commitment to developing cutting-edge semiconductor technologies. The company emphasizes continuous improvement through research and development, aiming to enhance its proprietary MST technology.

For instance, Atomera reported a research and development expense of approximately $8.2 million for the nine months ended September 30, 2024, down from $9.5 million in the same period of 2023, reflecting a strategic focus on efficient resource allocation while maintaining innovation. The decrease was largely due to the cessation of services from TSI Semiconductor, which highlights Atomera's adaptability in its innovation strategy.

Integrity

Integrity is paramount at Atomera, underpinning all business practices and relationships. The company is dedicated to transparency and ethical conduct in its dealings with stakeholders.

Atomera's financial statements reflect its commitment to integrity, with detailed disclosures of its financial performance. For example, for the nine months ended September 30, 2024, the company reported a net loss of approximately $13.8 million, compared to a loss of $15.2 million in the same period of 2023. This transparency in reporting demonstrates Atomera's dedication to providing stakeholders with accurate and timely information.

Collaboration

Collaboration is essential to Atomera's operational philosophy, fostering partnerships that enhance its technological capabilities. The company actively seeks alliances to advance its research and commercialization efforts.

In 2024, Atomera executed a significant licensing agreement with STMicroelectronics, which marks its first commercial manufacturing and distribution agreement. This partnership is expected to yield royalties on MST-enabled products, showcasing Atomera's collaborative approach to growth.

Excellence

Excellence is a core value that drives Atomera to achieve the highest standards in product development and customer service. The company strives for operational efficiency and quality in all its endeavors.

Atomera's operational expenses for the nine months ended September 30, 2024, totaled approximately $14.5 million, a reduction from $15.9 million in the previous year. This decrease underscores Atomera's ongoing commitment to operational excellence and cost management.

Customer Focus

Customer focus is integral to Atomera's business strategy, ensuring that customer needs and satisfaction are prioritized in all initiatives. The company aims to build long-term relationships with its clients.

Atomera's revenue for the nine months ended September 30, 2024, was approximately $112,000, derived from its MSTcad licensing and engineering services. This revenue generation highlights the company's focus on delivering value to its customers through innovative solutions.

Article updated on 8 Nov 2024

Resources:

• Atomera Incorporated (ATOM) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Atomera Incorporated (ATOM)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Atomera Incorporated (ATOM)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.