Why Atomera Stock Got Destroyed Today

Shares of Atomera (NASDAQ: ATOM) have gotten destroyed today, down by 24% as of 11:15 a.m. EDT, after the company reported first-quarter earnings. Atomera recognized licensing revenue from the customer that is party to a joint development agreement (JDA) and recently entered phase 4 of the contract.

Revenue in the first quarter was $400,000, which was derived from the JDA customer. Atomera still incurred $4 million in operating expenses, leading to a net loss of $3.6 million, or $0.16 per share. The semiconductor company is only covered by one analyst, who was expecting $400,000 in revenue and a net loss per share of $0.17. Atomera is working to commercialize its Mears Silicon Technology (MST), which improves performance and power efficiency of silicon transistors.

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Source Fool.com