The company's financial position is weakening, with total assets contracting from $29.1 million in 2024Q4 to $21.1 million by 2025Q4, while the accumulated deficit in retained earnings has deepened to $247.8 million.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 42.06M | 19.6M | 27.09M | 20.4M | 21.6M | 29.01M | 38.07M | 15M | 19.29M | 17.73M | 26.81M | 3.26M | 60.11K | 383.22K |
| Cash & Short-Term Investments | 41.09M | 19.21M | 26.77M | 19.53M | 21.18M | 28.7M | 37.94M | 14.87M | 18.93M | 17.37M | 26.72M | 3.2M | 20.98K | 332.19K |
| Cash Only | 14.16M | 19.21M | 25.78M | 12.59M | 21.18M | 28.7M | 37.94M | 14.87M | 18.93M | 17.37M | 26.72M | 3.2M | 20.98K | 332.19K |
| Short-Term Investments | 26.93M | 0 | 995K | 6.94M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 180K | 54K | 79K | 629K | 0 | 0 | 0 | 0 | 185K | 110K | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 631.15 | 303.23 | 213.59 | 417.43 | - | - | - | - | 274.49 | 365 | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 788K | 338K | 240K | 244K | 418K | 0 | 132K | 0 | 170K | 248K | 96K | 15K | 15K | 15K |
| Total Non-Current Assets | 1.56M | 1.49M | 2.03M | 3.63M | 5.13M | 7.05M | 1.32M | 237K | 69K | 80K | 65K | 160.2K | 21.24K | 187 |
| Property, Plant & Equipment | 1.55M | 1.48M | 1.93M | 3.52M | 5.02M | 6.95M | 858K | 224K | 56K | 67K | 28K | 15.53K | 21.24K | 187 |
| Fixed Asset Turnover | 0.06x | 0.04x | 0.07x | 0.16x | 0.08x | 0.06x | 0.07x | 2.38x | 4.39x | 1.64x | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 14K | 14K | 105K | 105K | 105K | 105K | 463K | 13K | 13K | 13K | 37K | 144.67K | 0 | 0 |
| Total Assets | 43.62M | 21.09M | 29.12M | 24.03M | 26.73M | 36.06M | 39.4M | 15.24M | 19.36M | 17.81M | 26.88M | 3.42M | 81.35K | 383.41K |
| Asset Turnover | 0.00x | 0.00x | 0.00x | 0.02x | 0.01x | 0.01x | 0.00x | 0.03x | 0.01x | 0.01x | - | - | - | - |
| Asset Growth % | 57.66% | -27.58% | 21.2% | -10.1% | -25.88% | -8.47% | 158.5% | -21.27% | 8.7% | -33.75% | 685.87% | 4104.4% | -78.78% | - |
| Total Current Liabilities | 2.17M | 2M | 3.58M | 3.81M | 2.91M | 2.75M | 1.45M | 1.47M | 1.61M | 949K | 1.03M | 16.54M | 774.69K | 3.95M |
| Accounts Payable | 677K | 608K | 492K | 618K | 397K | 338K | 442K | 315K | 348K | 198K | 353K | 301K | 630.93K | 139.75K |
| Days Payables Outstanding | 298.01 | 601.41 | 1.46K | 8.06K | 1.79K | - | 12.41K | 454.45 | 858.24 | 1.85K | 8.59K | 11.54K | - | - |
| Short-Term Debt | 407K | 567K | 0 | 0 | 0 | 0 | 90K | 0 | 0 | 0 | 0 | 14.43M | 0 | 3.74M |
| Deferred Revenue (Current) | 247K | 7K | 4K | 0 | 0 | 0 | 0 | 37K | 55K | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 995K | 168K | 0 | 0 | 0 | 0 | 211K | 0 | 0 | 0 | -678K | -204 | 0 | 0 |
| Current Ratio | 19.34x | 9.80x | 7.58x | 5.35x | 7.43x | 10.54x | 26.29x | 10.22x | 11.97x | 18.68x | 26.01x | 0.20x | 0.08x | 0.10x |
| Quick Ratio | 19.34x | 9.80x | 7.58x | 5.35x | 7.43x | 10.54x | 26.29x | 10.22x | 11.97x | 18.68x | 26.01x | 0.20x | 0.08x | 0.10x |
| Cash Conversion Cycle | 333.13 | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 896K | 712K | 471K | 2.04M | 3.51M | 4.93M | 602K | 0 | 1.21M | 751K | 678K | 0 | 6.61M | 0 |
| Long-Term Debt | 896K | 712K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.61M | 0 |
| Capital Lease Obligations | 712K | 712K | 471K | 2.04M | 3.51M | 4.93M | 602K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | -712K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 3.07M | 2.71M | 4.05M | 5.86M | 6.42M | 7.68M | 2.05M | 1.47M | 1.61M | 949K | 1.03M | 16.54M | 7.38M | 3.95M |
| Total Debt | 1.3M | 1.99M | 1.98M | 3.64M | 4.88M | 6.54M | 692K | 152K | 0 | 0 | 0 | 14.43M | 6.61M | 3.74M |
| Net Debt | -12.86M | -17.22M | -23.79M | -8.95M | -16.31M | -22.16M | -37.25M | -14.72M | -18.93M | -17.37M | -26.72M | 11.23M | 6.59M | 3.41M |
| Debt / Equity | 0.03x | 0.11x | 0.08x | 0.20x | 0.24x | 0.23x | 0.02x | 0.01x | - | - | - | - | - | - |
| Debt / EBITDA | -0.06x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.59x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -607.14x | -335.23x | -141.91x | -101.01x | -67.40x | -121.25x | - | - | - | - | -3.78x | -2.85x | -5.81x | - |
| Total Equity | 40.55M | 18.38M | 25.08M | 18.17M | 20.31M | 28.38M | 37.34M | 13.77M | 17.75M | 16.86M | 25.85M | -13.12M | -7.3M | -3.56M |
| Equity Growth % | 89.01% | -26.7% | 38.01% | -10.55% | -28.42% | -24% | 171.17% | -22.39% | 5.27% | -34.78% | 297% | -79.7% | -104.98% | - |
| Book Value per Share | 1.15 | 0.60 | 0.92 | 0.73 | 0.88 | 1.26 | 1.99 | 0.87 | 1.40 | 1.39 | 4.55 | -1.16 | -0.64 | -2.90 |
| Total Shareholders' Equity | 40.55M | 18.38M | 25.08M | 18.17M | 20.31M | 28.38M | 37.34M | 13.77M | 17.75M | 16.86M | 25.85M | -13.12M | -7.3M | -3.56M |
| Common Stock | 39K | 32K | 31K | 26K | 24K | 23K | 22K | 17K | 15K | 12K | 12K | 1.62K | 1.23K | 1.23K |
| Retained Earnings | -247.77M | -241.69M | -221.52M | -203.09M | -183.29M | -165.85M | -150.14M | -135.26M | -121.96M | -109.06M | -96M | -83.39M | -73.87M | -70.06M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 1K | 0 | 0 | 0 | 0 | 0 | -122K | -94K | -94K | -230.06K | -187.5K | -187.5K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Dilutive capital dependency
As reported in recent SEC filings, Atomera's equity base has experienced significant volatility, with total assets contracting from $29.1 million in 2024Q4 to $21.1 million by 2025Q4, signaling a weakening financial position driven by persistent operational losses and the absence of a self-sustaining revenue model.
The downward trend in total assets suggests that the company is consuming its capital base to fund ongoing research and development without achieving a corresponding increase in commercial scale. Investors should monitor whether this contraction reflects a strategic reduction in lab overhead or an inability to maintain the necessary infrastructure for future licensing milestones.
Based on financial statements, Atomera's cash reserves have fluctuated significantly, dropping from $25.8 million in 2024Q4 to $14.2 million in 2026Q1, which indicates a tightening liquidity buffer that may necessitate further dilutive equity financing to sustain operations over the next several quarters.
While the current ratio remains high due to minimal current liabilities, the absolute cash balance is the primary determinant of the company's survival. The rapid depletion of cash reserves suggests that the firm's current burn rate is unsustainable without a material shift toward recurring royalty revenue or additional capital injections.
According to reported figures, the company's retained earnings deficit has deepened to $247.8 million as of 2026Q1, reflecting a long-term accumulation of losses that underscores the high cost of developing proprietary semiconductor intellectual property without a proven, high-volume commercial adoption path.
The persistent negative retained earnings highlight the structural challenge of the company's business model, where equity value is primarily supported by external financing rather than internal value creation. This reliance on equity markets for survival suggests that existing shareholders face ongoing dilution risk until the company can demonstrate a clear transition to profitability.
As noted in recent balance sheet disclosures, the company maintains minimal net property, plant, and equipment, which, while typical for an IP firm, leaves the balance sheet devoid of tangible collateral and highly sensitive to the potential impairment of its intangible intellectual property portfolio.
The lack of significant tangible assets means that the company's valuation is almost entirely dependent on the perceived future utility of its MST technology. If the industry shifts toward alternative architectures, the absence of a tangible asset base provides no downside protection for investors, making the balance sheet inherently vulnerable to technological obsolescence.
Quick answers to the most common questions about buying ATOM stock.
As of 2025, Atomera Incorporated (ATOM) had total assets of $21.1M including $19.6M in current assets.
Atomera Incorporated (ATOM) carries total debt of $2.0M, offset by $19.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Atomera Incorporated (ATOM) has total shareholders' equity (book value) of $18.4M ($0.60 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Atomera Incorporated (ATOM) reported a current ratio of 9.80x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.