Atomera's Technology Successfully Installed at STMicro's Fab in Italy
2024-03-05
Atomera Corporation, a prominent semiconductor technology company, conducted its Q4 2023 earnings call to present updates on its performance and discuss key industry developments. The call was led by Scott Bibaud, Atomera's president and CEO, and Frank Laurencio, Atomera's CFO.
During the call, the focus was primarily on Atomera's performance in the fourth quarter and fiscal year 2023. The company highlighted significant business deals, customer outcomes, research and development progress, and the overall status of the semiconductor industry.
A notable announcement during the call was the successful installation of Atomera's technology at STMicro's fab in Agrate, Italy. This installation served as a crucial milestone for Atomera, validating their business model and the value of their MST technology to customers. It also showcased the potential of MST to industry participants, as a respected IDM like STMicro chose to adopt it for production.
The commercial license agreement with STMicroelectronics was pivotal for Atomera, not only in terms of revenue milestones but also in solidifying their industry position. This agreement enabled STMicro to commence MST wafer production and complete the formal installation of MST technology at their fab. The partnership with such a major industry player further enhanced Atomera's credibility and opened avenues for potential collaborations with other customers.
Atomera also discussed their customer pipeline, emphasizing growth in phase 4 following the successful installation at STMicro's fab. The company is actively pursuing business arrangements with customers like JDA 1 and JDA 2, indicating promising future growth prospects.
In terms of technological advancements, Atomera underscored the importance of their MST technology across various areas. MST's suitability for delivering performance enhancements in the higher-voltage semiconductor domain, supported by its SP and SPX technologies, was highlighted. Additionally, Atomera's diffusion control technology was recognized for its potential in providing the necessary control for advanced nodes in semiconductor manufacturing.
The company also touched upon their involvement in the RF-SOI technology space, with multiple customer wafer rounds currently in progress. They were invited to present a paper at the IEDM conference, focusing on how MST on an RF-SOI substrate can improve the performance of RF switches and LNAs.
Looking forward, Atomera's primary focus is on ensuring a successful and swift production ramp of MST. The company aims to onboard more customers for production and explore new opportunities in various sectors, including DRAM and memory architectures.
Financially, Atomera reported revenue of $550,000 for the year 2023, with a GAAP net loss of $19.8 million. Operating expenses saw an increase primarily due to higher R&D expenses, payroll and related costs, legal fees, and sales and marketing expenses.
Regarding future financial expectations, Atomera provided non-GAAP operating expense guidance for 2024 in the range of $17 million to $18 million. They also mentioned the potential impact of transitioning from TSI Semiconductor to a new foundry, which could lead to a wider range for non-GAAP operating expenses.
In conclusion, Atomera's Q4 2023 earnings call showcased the company's significant progress and accomplishments in the semiconductor industry. With the successful installation at STMicro's fab and ongoing collaborations with other customers, Atomera is well-positioned for growth and success in the upcoming years.