Atomera Incorporated Common Stock (ATOM)

FairStock Score: 33/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

On 2026-10-13, Atomera closed at $3.80, giving a $148.3 million market cap. I look for a durable business with earnings and a margin of safety. Here, in fiscal 2025, the year ended 2025-12-31, revenue was only $65,000 and net loss was $20.2 million, or $0.65 per diluted share. In fiscal 2024 revenue was $135,000 and net loss $18.4 million; in fiscal 2023 revenue was $550,000 and net loss $19.8 million. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, had revenue of $158,000 and a net loss of $6.3 million, a -4010.13% margin. Those are not the marks of a proven franchise. At that close, FairStock calculations show P/E -5.85, P/B 4.00, ROE -76.78%, ROCE -45.66%, trailing free cash flow -$15.1 million, and FCF yield -10.2%. The balance sheet is not debt-heavy—D/E 0.03 and Altman Z-Score 19.96—but low leverage does not stop cash burn. Piotroski 4/9 and FairStock Score 33/100 confirm fragility. The Lynch category is none, because the company lost money in each of the last four years. Atomera's Mears Silicon Technology may interest foundries, but I see no evidence of a wide moat, pricing power, or repeatable revenue. Paying 4 times book, with a $148.3 million market cap against $65,000 of fiscal 2025 revenue for a loss-making licensor, leaves no Graham margin of safety; the investment case rests entirely on future adoption that the filings have not yet validated.

In plain English: Atomera is a tiny semiconductor technology company that develops and licenses a special silicon process. The business is weak right now: it lost $20.2 million in fiscal 2025, the year ended 2025-12-31, on only $65,000 of revenue, and it continues to lose money. At the 2026-10-13 close of $3.80, the price looks expensive compared with those actual sales and losses, so the value depends on future licensing success that has not yet shown up in the filed numbers.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer