What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2024-07-30 compared with 2024-04-30 · 100 added, 59 removed, 376 unchanged (30% of the section changed)

6 unchanged sentences

Short-term investments

Accounts receivable

Unbilled contracts receivable

22 unchanged sentences

Preferred stock $ 0.001 par value, authorized 2,500 shares;

none issued and outstanding as of March 31 2024 and December 31, 2023

none issued and outstanding as of June 30, 2024 and December 31, 2023

Common stock:

$ 0.001 par value, authorized 47,500 shares;

26,905 shares issued and 26,885 outstanding as of March 31, 2024;

27,622 shares issued and 27,610 outstanding as of June 30, 2024;

and 26,107 shares issued and outstanding as of December 31, 2023

10 unchanged sentences

Three Months Ended

Six Months Ended

Cost of revenue

Gross margin (loss)

Operating expenses

8 unchanged sentences

Interest expense

Other income, net

Total other income (expense), net

1 unchanged sentence

Net loss per common share, diluted

Weighted average number of common shares outstanding, basic

Weighted average number of common shares outstanding, diluted

Weighted average number of common shares

outstanding, basic

Weighted average number of common shares

outstanding, diluted

The accompanying notes are an integral part of

4 unchanged sentences

Three Months Ended

Six Months Ended

Unrealized gain (loss) on available-for-sale securities

Comprehensive income (loss)

The accompanying notes are an integral part of

2 unchanged sentences

Statements of Stockholders’ Equity

For the Three Months Ended March 31, 2024 and

For the Three and Six Months Ended June 30,

2024 and 2023

(in thousands)

10 unchanged sentences

$ ( 207,907 )

Stock-based compensation

Forfeiture of restricted stock issuance

At-the-market sale of stock, net of commissions and expenses

gain (loss) on available-for-sale securities

Balance June 30, 2024

$ ( 212,268 )

Comprehensive

8 unchanged sentences

$ ( 188,314 )

Stock-based compensation

Stock option exercise

At-the-market sale of stock, net of commissions and expenses

Balance June 30, 2023

$ ( 193,466 )

The accompanying notes are an integral part of

3 unchanged sentences

(in thousands)

Three Months Ended

Six Months Ended

CASH FLOWS FROM OPERATING ACTIVITIES

4 unchanged sentences

Stock-based compensation

Change in unrealized gain (loss) on cash equivalents

Net accretion of discounts on available-for-sale securities

Changes in operating assets and liabilities:

Accounts receivable

Unbilled contracts receivable

15 unchanged sentences

Proceeds from exercise of stock options

Proceeds from stock sale

Payments on principal of financing lease

18 unchanged sentences

Atomera is an early-stage

company, having only recently begun limited revenue-generating activities, and is devoting substantially all its efforts toward technology

research and development and to commercially licensing its technology to designers and manufacturers of integrated circuits.

company, having only limited revenue-generating activities, and is devoting substantially all its efforts toward technology research and

development and to commercially licensing its technology to designers and manufacturers of integrated circuits.

LIQUIDITY AND MANAGEMENT PLANS

At March 31, 2024, the Company

At June 30, 2024, the Company

had cash, cash equivalents and short-term investments of approximately $ 18.3 million and working capital of approximately $ 15.8 million .

6 unchanged sentences

may offer and sell, from time to time at its sole discretion, shares of its $0.001 par value common stock, in “at the market”

offerings to or through the agent as its sales agent, having aggregate offering proceeds of up to $50.0 million (the “ATM Facility”).

During the three-month period ended March 31, 2024, the Company sold approximately 510,000 shares pursuant to the ATM at an average price

per share of approximately $ 8.06 , resulting in approximately $ 4 .0 million of net proceeds to the Company after deducting commissions and

other offering expenses.

As of March 31, 2024, the Company has a remaining capacity on the ATM of approximately $ 25.7 million .

offerings to or through the agents, having aggregate offering proceeds of up to $50.0 million (the “ATM Facility”).

the three-month period ended June 30, 2024, the Company sold approximately 669,000 shares pursuant to the ATM at an average price per

share of approximately $ 3.82 , resulting in approximately $ 2.4 million of net proceeds to the Company after deducting commissions and other

offering expenses.

During the six-month period ended June 30, 2024, the Company sold approximately 1.2 million shares pursuant to the

ATM at an average price per share of approximately $ 5.66 , resulting in approximately $ 6.4 million of net proceeds to the Company after

deducting commissions and other offering expenses.

As of June 30, 2024, the Company has a remaining capacity on the ATM of approximately

$ 23.1 million .

Based on the funds it has

5 unchanged sentences

or acquire technologies to enhance or complement its current offerings.

The Company’s operating plans for the next 12 months include

increased research and development expenses.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

5 unchanged sentences

The unaudited condensed financial

statements of the Company for the three months ended March 31, 2024 and 2023 have been prepared in accordance with accounting principles

statements of the Company for the three and six months ended June 30, 2024 and 2023 have been prepared in accordance with accounting principles

generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the requirements

23 unchanged sentences

The Company may sell these marketable debt securities prior to their stated maturities depending upon changing liquidity requirements.

These debt securities are classified as current assets in the consolidated balance sheet and recorded at fair value, with unrealized gains

These debt securities are classified as current assets in the condensed balance sheet and recorded at fair value, with unrealized gains

or losses included in accumulated other comprehensive income (loss).

1 unchanged sentence

when realized.

Gains and losses are determined using the specific identification method and are reported in other income (expense), net

in the consolidated statements of operations.

Gains and losses are determined using the specific identification method and are reported in other income, net in the condensed

statements of operations when incurred.

Unrealized gains and losses are included in other comprehensive income (loss) on the condensed

balance sheets.

Recent Accounting Standards

2 unchanged sentences

effective date.

No new accounting standards issued or effective during the period ended March 31, 2024 have had or are expected to have

No new accounting standards issued or effective during the period ended June 30, 2024 have had or are expected to have

a significant impact on the Company’s financial statements.

6 unchanged sentences

The three-tiered fair value hierarchy, which prioritizes which inputs should be used in measuring fair value, consists of:

Level 1 — Quoted prices (unadjusted) in active markets

for identical assets and liabilities.

Level 1 — Quoted prices (unadjusted)

in active markets for identical assets and liabilities.

Level 2 — Inputs other than Level

2 unchanged sentences

for substantially the full term of the assets or liabilities.

Level 3 — Unobservable inputs that are supported by

little or no market activity and that are significant to the fair value of the assets or liabilities.

Company’s cash equivalents and short-term investments that were measured at fair value on a recurring basis as Level 1 assets.

Company’s cash, cash equivalents and short-term investments classified by security type as of March 31, 2024 and December 31, 2023

Level 3 — Unobservable inputs

that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Company’s cash equivalents and short-term investments were measured at fair value on a recurring basis as Level 1 assets.

Company’s cash, cash equivalents and short-term investments classified by security type as of June 30, 2024 and December 31, 2023

consisted of the following (in thousands):

Schedule fair value measurements

March 31, 2024

Schedule of fair value measurements

June 30, 2024

Unrealized Gain/(Loss)

19 unchanged sentences

of the license.

The following table provides information about

disaggregated revenue by primary geographical markets and timing of revenue recognition (in thousands):

Schedule of disaggregated revenue and timing of revenue

Three Months Ended

The following table provides

information about disaggregated revenue by primary geographical markets and timing of revenue recognition (in thousands):

Schedule of disaggregated revenue by primary geographical markets and timing of revenue recognition

Three Months Ended June 30,

Six Months Ended June 30,

Primary geographic markets

13 unchanged sentences

All unbilled contracts receivable as of December 31, 2023 were billed and received

during the three months ended March 31, 2024.

during the six months ended June 30, 2024.

Deferred Revenue

1 unchanged sentence

revenue for customers that were issued invoices, but the Company has not yet recognized the revenue based on its revenue recognition policy.

As of March 31, 2024, the Company has approximately $ 17 ,000 of deferred revenue that it expects to recognize over the next 12 months.

As of June 30, 2024, the Company has approximately $ 13 ,000 of deferred revenue that it expects to recognize over the next 12 months.

BASIC AND DILUTED LOSS PER SHARE

14 unchanged sentences

Schedule of anti-dilutive shares

Three Months Ended

Six Months Ended

Stock Options

36 unchanged sentences

Schedule of lease costs

Three Months Ended June 30,

Six Months Ended June 30,

Financing lease costs:

7 unchanged sentences

Future minimum payments under non-cancellable leases

as of March 31, 2024 were as follows (in thousands):

as of June 30, 2024 were as follows (in thousands):

Schedule of future minimum payments

6 unchanged sentences

Total lease liability

The below table provides supplemental

information and non-cash activity related to the Company’s operating and financing leases are as follows (in thousands):

The below table provides

supplemental information and non-cash activity related to the Company’s operating and financing leases are as follows (in thousands):

Schedule of supplemental

Three Months Ended

information and non-cash activity

Three Months Ended June 30,

Six Months Ended June 30,

Operating cash flow information:

1 unchanged sentence

Cash paid for amounts included in the measurement of financing liabilities

Non-cash activity:

Right-of-use assets obtained in exchange for operating lease obligations

The table above does not include

18 unchanged sentences

stock options and restricted stock issued under the 2017 Plan and 2023 Plan vest over a period of one to four years from the date of grant.

As of March 31, 2024, approximately 1.4 million shares remain available for issuance under both available plans.

As of June 30, 2024, approximately 1.4 million shares remain available for issuance under both available plans.

The following table summarizes

the stock-based compensation expense recorded in the Company’s results of operations during the three months ended March 31, 2024

the stock-based compensation expense recorded in the Company’s results of operations during the three and six months ended June

30, 2024 and 2023 for stock options and restricted stock granted under the Company’s incentive plans (in thousands):

1 unchanged sentence

Three Months Ended

Six Months Ended

Research and development

1 unchanged sentence

Selling and marketing

As of March 31, 2024, there

As of June 30, 2024, there

was approximately $ 7.8 million of total unrecognized compensation expense related to unvested share-based compensation arrangements.

1 unchanged sentence

The weighted average grant

date fair value per share of the options granted under the Company’s Plans were $ 4.98 and $ 4.95 for the three March 31, 2024 and

2023, respectively.

date fair value per share of the options granted under the Company’s Plans were $ 3.92 for the three months ended June 30, 2024.

Options were no t issued in the three months ended June 30, 2023.

The weighted average grant date fair value per share of the options granted

under the Company’s Plans were $ 4.97 and $ 4.95 for the six months ended June 30, 2024 and 2023, respectively.

The following table summarizes

stock option activity during the three months ended March 31, 2024 (in thousands except exercise prices and contractual terms):

stock option activity during the six months ended June 30, 2024 (in thousands except exercise prices and contractual terms):

Schedule of stock option activity

2 unchanged sentences

Outstanding at January 1, 2024

Outstanding at March 31, 2024

Exercisable at March 31, 2024

During the three months ended

March 31, 2024, the Company granted options under the 2017 and 2023 Plans to purchase approximately 366,000 shares of its common stock

Outstanding at June 30, 2024

Exercisable at June 30, 2024

During the six months ended

June 30, 2024, the Company granted options under the 2017 and 2023 Plans to purchase approximately 369,000 shares of its common stock

to its employees and consultants.

3 unchanged sentences

The following

table summarizes all restricted stock activity during the three months March 31, 2024 (in thousands except per share data):

table summarizes all restricted stock activity during the six months ended June 30, 2024 (in thousands except per share data):

Schedule of restricted stock activity

2 unchanged sentences

Outstanding at January 1, 2024

Outstanding non-vested shares at March 31, 2024

During the three months ended

March 31, 2024, the Company granted approximately 275,000 restricted stock awards under the 2017 and 2023 Plans.

The fair value of these

awards was approximately $ 1.8 million at the time of grant.

Outstanding non-vested shares at June 30 2024

During the six months ended

June 30, 2024, the Company granted approximately 342,000

restricted stock awards under the 2017 and 2023 Plans.

The fair value of these awards was approximately $ 2.1

million at the time of grant.

COMMITMENTS AND CONTINGENCIES

3 unchanged sentences

The Company is not party to any material

litigation as of March 31, 2024, or through the date these financial statements have been issued.

litigation as of June 30, 2024, or through the date these financial statements have been issued.

On April 28, 2024, the Company sold 2,247 shares of its common stock

to the Chief Executive Officer (CEO, Scott Bibaud at a price of $ 4.45 per share, which was determined to be the fair market value on the

date of the transaction.

The total proceeds from the sale amounted to approximately $ 10,000 .

SUBSEQUENT EVENTS

1 unchanged sentence

events and transactions through the date these financial statements were issued.

Since June 30, 2024, the Company has issued

approximately 206,000 additional shares through its ATM offering at an average price per share of $3.94 resulting in additional net proceeds

of approximately $789,000 .

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements