ATOM - Earnings call transcript Q1 2021

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Mike Bishop

Okay, I think we're ready to begin the call. Hello, everyone, and welcome to Atomera's First Quarter Fiscal Year 2021 Earnings Webinar. I'd like to remind everyone that this call and webinar are being recorded, and a replay will be available on Atomera's IR website for one year. I'm Mike Bishop with the Company's Investor Relations. After a positive experience last quarter, we are again using Zoom and we will follow a similar format to prior quarters with participants in a listen-only mode.

prepared Frank Scott we Laurencio, the to with and Atomera's will open call and CEO, Atomera's questions. will remarks Bibaud, from President open We CFO then

slide telephone, Events the Presentations website. section Relations' may by remarks Investor and joining our on are accompany our you follow If a page presentation of to on you our

measures to forward-looking in or make disclaims Also, Securities or the will revisions GAAP the posted financial be These XXXX. the that Factors Q&A XX-K These as defined during remarks Securities Form financial we update please as Atomera will call the regards we SEC I note begin, Federal by in today's with prepared detailed expectations most to such to are subject to would G. otherwise Before are conditions with risks elsewhere specifically annual in forward-looking session we filings those Company's that of to any website. filed and Laws, like call the with uncertainties events, forward-looking release, required statements. inherent during circumstances. our discussing herein on Exchange contained in Reconciliations in non-GAAP reflect Except or obligation these this statements uncertainties. directly whether measures Regulation comparable today's to Commission during remind everyone included Risk and statements, XX, measure of make section risks the on our SEC is report and are by February press on non-GAAP to changes which and

and the Scott. Go turn would President like Now, call Bibaud. over to ahead, to Scott I CEO, our

Scott Bibaud

driving has The months demand welcome to had as QX point market industrial rebound expect, an update and been interesting running their industry where beyond Atomera's the economic with last to our very efforts. Mike, are capacity, all segments. of you which many once constraining on Fabs you our for Thanks, it's semiconductor rate again across three different the have production might or of call. at effect

wafers are processing existing said, hearing takes planning us. we now as customers of delayed or That first continue their extended new production forward existing no on customers changes For for priority. with in backlog all of major right those experiments, starts we're times a development work but process potential seeing our moving being

During projects, customer pleased grow us. quarter because through how were word customer understand discussions MST blessing entering we we for wafers into started current It's to die this volume our to of We industry benefits requests potential difficult on of of customer optimization. new At to same work are hear to is are capacity. production X. our restrictions can to the on get tight to Phase MST helping started. that size have increased spread able rumblings the time, R&D be incremental validate the while solutions of our a mixed economic last show seeing problems new during first The

own their is As the facility. customer in reminder, installing Phase X as MST a defined

be customer Phase into have factors a For a to to properly enter of number X, aligned.

has expensive customer very use. tool the a to the of expense First, dedicating conclude is time that MST and to its worth

older or dedicated modifications new much a the one. introduce work or R&D tools existing customers one MST. can it's Second, adding rare work chamber to building on a new to relatively to that to chamber machine have some means for need generally they easier industry, out are Because with fab so MST either an MST dedicated buying to doing MST least in an on installing run and they at available to a on in one,

this see So small is achieved feat. installation we that no X Phase can you

Phase several other being customers an said very have move forward companies that to move who that continue soon. hope quite very is be industry will we which the licensees slowly with Our in Phase even to unpredictable, move guidance commercialization large works a occur. it makes it license when in excited can difficult That when provide and about or that X the We've we Atomera on consistently new X will towards in MST direction standard next technology. said with deal, JDA past

to on not are continue stages any customers, negotiations Although, at we we several this of the discuss late JDAs in time. with

forward. the customers, new moving near and keep existing ongoing Beyond restrictions expanding all A significantly growth focus travel in term. limitations will customer the JDA, engagements R&D continue wafer customer on from

existing manufacturing. products decades today but these solid lack of careers process interest were been issues. generation have of areas Typically that phones, industry sensors, our used on Semiconductor dig mundane that thing be in deeper in the industrial many and manufacturing, little get ensure about into single products, understand semiconductor the happening servers made spoken to actually focused the build to of continue the press have of the nodes condition bleeding for applications very in and transceivers capacity current building heard and we've shortage future semiconductor a volume for say chips same is The like experienced is in It automotive has this they've situation and the the power over the unless be majority and [indiscernible] of their and are and a is It's production out more production what necessary to learn edge designed Indeed, make potential powerful XX most stoppages process years. and I've investments However, effort But industry vast is the opportunity. gets Semiconductor products. this how technology reported those well the with from the new management, both worst applications. to of veterans $XXX supply plaguing that cause industry this help news gear That the cutting many ago. over of needed worth the both experiencing customers in focused that been we experienced older manufacturers world's full in for MST necessary chips the to can chips fastest microcontrollers shortage year semiconductor process mobile PCs in for into most capacity communication will generations companies of that went chips. to billion on appliances. the edge. next automobiles, solve

these shrink sense produce For a node. doesn't fabs analog certain supplement equipment a designs per Nevertheless, they ago. available smaller trying implemented relief of hour to tricks One to the years be a to to and facilities get chips the were it of could their have more All few using that increase to are they these very output. capacity. MST. time keep significant marginally maxed would use circuitry, a get out hard adding lot wafers out way make Yet, to

Insights, ways the of more be a to capacity XXX first Let's used or at problems. above XX half that IC process of than look can XX% a industry XXXXs. at different XXXX, monthly than wafer where technology nanometers introduced in manufacturing MST solve According above, in more few nanometer was to nodes or

the similar with nanometer, die in was to performance one technologies in are the show is we is by most to than categorized those which size MST If approximately slide for this is die These legacy needed, On designed an size Another by how where outperform and help a able to also we an of same MST XX% areas at XX%. them to significant to and the ability industry-standard shrink those provide only the nodes. products industry MST nodes. improvements XXX able XX XX and take die mechanisms as to SP XX%. nanometers more XX% is process in direct reduction,

numbers work savings. thus, the improve ways find development use to ongoing MST continues expected to Our to and these

new older tightly they is facility by large step through costs amount of to chips make of to restricted and new engineers an the produced fabs same build building. it. will get without imagine very wafers is too number Now the encouraging to designs function can push but MST, The during wafers they XX% more XX% using of the consider to out their a

royalty the of both fabs their have effect for and profits will should healthy this increasing while Atomera. MST shows customers, analysis a to revenue economic and providing also Our the Remarkably smaller Well, talked higher gate levels they goes the of better as much industry use dopant. to smaller even we than lengths, Why? nodes ones the before. at typically about the work

As the we found gate you we electron SPICE PDK it in oxide the transistors that through improve performance more resulted can allowing an analysis showed characteristics and ran could is is I and The XX-nanometer improvements compelling. higher dopant of simulations about one increasing we better several area integrity, XX-nanometer overdrive, a of is more key mobility just results completed to nodes designs. types wafer a Using the mentioned could then We with products. MST NANDX improvement. like increase we for of XX% provided may reduction. XX% a one improvement squeeze scaling gate increase. MST die amount to which shown in it a believe size performance likewise XX% MST using MST reduction a to remember, here, XX XX% to in doping help off XX different onto capacity parametric as were Recently, Because FinFETs of make helps an levels control of for narrower higher experiments, diffusion, resulted which earlier. area than reduction. one the silicon to die nanometer industry-standard MST typical of used on important MST how be once again. that traded can the Analog performance modified This of the this,

capacity these you on see results the So move how overall, improvement. can can needle really

with using in production solve about discussions potential We to been their have problems. help many customers MST

enter MST will be for the is it chip this that have to to true happen, implemented have and new will pipeline. to designs Now,

of continues limited not expand, process are worse are quick as ahead chips seeing that very factories for demand these market in older it's to today driving problems expansion capacity slated a So the option. But we the only in size have get the years fix. to

very problems technology to for customers at Although the opportunity nodes well leading is solve is MST in exciting quite positioned also for edge. the Atomera, legacy

junctions to smallest As important transistors make well-defined. the it's that manufacturers and attempt sharp with are geometries,

blog pointed As than post out better does trying. Robert job week, of the that much last MST a methods is industry currently Mears' other

worked it beautifully. worried still too applications, be may for still that so thinner MST, have and thin, been very We while making big previously we it tried much these

about continue few have information be that facility Over process are well. of we Efforts more to our in our our be state-of-the-art can the and next website the capability as about development on new hearing the you at it Arizona. Epi going weeks, Tempe, in sure customers this will qualifying

reactors development to process development, XXX-millimeter and with our This for be to of customer have conduct qualification addition in validation MST validating customers. customers With has part used for Phase this new a wafers. and disposal, we tool XXX in advanced epitaxial on demonstrated testing successfully we will support this of and As tool growth that will MST learning both to and approach be been our proven at able parallel X. by process, expedite industry-standard

to be to advance semiconductor of to having XX% than will in MST tool excited the some market. XXX-millimeter industry continue capability wafers, by revenue We the will to Atomera. very this XXX-millimeter innovative Today, so greater opportunities drive allow driven about experiments the us open is business

MST well customers to received partners. Our software CAD continues be and by

runs important, different them. it for for ability to without silicon up wait validate has having the options experiment to as integration our Just opened engineers with to

benefits realized CAD. three have we with recently MST Here's

method SOI by believe RF an significant MST TCAD using that simulation. of identified is we improvement we've for First, three-dimensional with a integrating

to Second, have SP otherwise. MST than CAD more us would our quickly we helped much work MST has advance

on we Overall, under giant the conditions. paying last process years CAD development now is also MST back performance using several work the to it over evaluate to Third, types optimize film done different are we've dividends. different

understand to abound, you as not efforts that on efforts Manager with our important execution is It it's reputation in and though had in for to see our guide aggressive objective most reason to can is areas. the also many with that Engineering for that lose team that multiple to supplement looking into work this for our our an we who a As MST expand year opportunities the get time critical Atomera areas, spent production. these focus and we we background

will opportunity only we already performance Atomera. insight to that join and and of will tackle of several are at also the excellent that job for Srinivasan weeks better experience and we Atomera drive make benefits. a strong Materials, more a more our applications Applied see help believe we've of some a time, with continues but bring accelerate wealth is that Atomera the in prior to some has a film Intel He on efforts. progress We very to focus have industry been experiences future. addressing fundamental pleased few but variety for brings been to Sudarsan Lam on His challenges bringing

base of technology set positioned navigate currently a is provide, growing the With can to a the well to very road strong and solutions we bright Atomera future.

Now, to I Frank over our review call to turn the will financials.

Francis Laurencio

close slide and now you, first the financials more shows Thank issued release today, This announcing the of a Scott. in will At we our results. detail. I review quarter XXXX summary press them our market

outstanding in $XXX,XXX XXXX. while expenses development GAAP $X.X weighted in XXXX increased to and per $XXX,XXX in increase an $XX,XXX, loss Our a sales in loss compared in Research reflects million for operating and per QX first which $X.XX and share expense per general million, revenue, XXXX QX ended XXXX, our basis, share it loss administrative, months increase GAAP XXXX $XXX,XXX. expenses $X.X in net an and and average $XX,XXX XXXX on GAAP The $X.XX loss operating was XXXX respectively. $X quarter expenses. net quarter to due million compared million QX $X.X compared an share. higher QX QX lower marketing $XX,XXX million XXXX, to offset first million The was three shares was by XX, $XX.X was of $XX.X increase to March from and which by in was flat of in to XXXX. per the the net Revenue the increased of share. also QX is In was

press and our slide results. release GAAP non-GAAP a Our contain between reconciliation and this

been generally is for and which case GAAP As the difference between has the expenses stock is non-cash us, biggest compensation, non-GAAP item. a

compared $XX.X increased is were was QX QX QX a QX expenses in Cash adjusted was to compared on stock expense part which to loss $XX.X $XXX,XXX as offset consumption in Net XXXX. the balance from $XXX,XXX operating lower of at reflects equity related cash $XXX,XXX compensation XXXX was options ATM expense expense. activities $XXX,XXX. loss XXXX, million XXXX count. share XXXX, adjusted payroll based primarily new was the $X.X increase completion cash million XXXX $X and QX compared million, to offset of expense $X million travel January. in to increase QX of proceeds Non-GAAP net per by operating a G&A in GAAP $X.X compared a net operating same in in in the expense. our March part in in in in XXXX, well a loss an revenue This was due of outsourcing $X million million our million $X million lower Non-GAAP quarter as use share QX our EBITDA to than non-GAAP part revenue headcount stock the XXXX at-the-market per of XXXX offset XXXX compared in in million costs. an higher million and engineering, operating QX during Our or $X.X to in of loss $X.X QX in of and QX of and $X.XX Total to was $X.X as $XXX,XXX compared lower the million GAAP in by to QX loss December offset at of activities $X.X in $XXX,XXX net from increase from was XX, million XXXX. XXXX. our which in $X.X our in million. QX QX R&D million in compared expense reflecting exercise $X.X was GAAP $X.X were financing the million QX was by was in QX consisting higher XXXX QX QX Non-GAAP XXXX. non in of marketing in our as Sequentially, Non-GAAP $XXX,XXX proceeds sales net loss program XXXX - to compared expenses of XX. first million share EBITDA $X.X $X.XX reflecting XXXX Non-GAAP $XXX,XXX in in increased XXXX,

which quarter. first expense As operating typically are is to consumption timing highest past years, our annual in of quarter commitments, in the cash due the

XX, had million As March we of shares outstanding. XXXX, XX.X

license This with in JDA will be the Our forecast their our entered recipe distribution those MST into milestones for license MST using we result obtained limited. manufacturing delivery generate only do revenue that and to of them license which of achieving enough or could are expect additional we will milestones. our in license fab. we not a enabling quarterly tool The Phase the timing practice, remain choppy revenue visibility grant and in resulted We will accompanied providing Atomera. reach continue agreements film X deposit $XXX,XXX customer by a this JDA $X. royalty, guidance Consistent other be includes of that future. have our revenue to for Until visibility past revenues quarter, likelihood to in

be of During can periods schedule more that or like generate is as new those timing licenses service it even runs of challenging of And high-capacity predict. transactions utilization, to JDA signing the closing well. to the engineering hard wafer

to continue the operating that, before back year. full we over summary will to will for Scott in be the range for turn of expenses non-GAAP few remarks $XX the call I a the open $XX.X for expect up to We call our million With for that XXXX Scott? questions. million

Scott Bibaud

share to our to-date. with opportunities and the glad progress I'm Frank. Thanks, made you latest we've

of few our it an very challenges do on capacity technology is for creating we take demand MST work excited advance next and MST advantage RF current about to in SP are We industry over call. new customers, the quarters. this begin areas stronger continuing to SOI highlighted hope even We and to JDA the the and see

CAD get we'll able customers, customers markets ever tool than quickly integration process are new before. comes adopted is into our we Epi through online be by deposition teams our Atomera, to energized. more the and MST Inside world-class As more believe

We I the take are results brings those to hard to forward working sharing questions. look MST the you of potential with Mike, we future. that realize in the now will and efforts

Mike Bishop

Thanks, right. Scott. All

Acree from now session. Instructions] the Q&A first comes Company. [Operator Cody of will question enter We Benchmark Our The

Cody Acree

thing Mike. we how and your it of discussions guess, I go like some your about the tabling Yes. of almost with Thank or delays could the back customers if sounds customers you, or those just I engineer-to-engineer efforts. as maybe giving kind Has the have given guess, they Scott, your as split direct engagements to their been is communications level that division is you C-level you it have pause been, at an having you any or to of are ability just quantification? far attention?

Scott Bibaud

Cody. Yes,

in new on area, So some and we really far they'll wafers there that. in has this been we then delay programs running in start customers. Phase about - your with wafer and well, I for and told I we see and we'll no the they think and planning and require not is, R&D be issue is were we wafers it try will the get tabling would who some - and in is pausing priority where of but future. out few testing. are seen guess will begin slowly starting get us changed they're on those this out engagements with wafers do start interesting new if those say, have months, with bigger that into already technology are to typically fab, the starts, a approval at that in more The can't of What's probably they've with in of to they But than efforts time a and want say customer have them most or really our we're haven't happened we are let's X - new past. wafers customers is to move for those maybe sure we will were customers the the able start time My some new

newer program a a maybe right harder impact existing and I existing is existing So now. for newer huge mean, - not even customers bit for our a programs that summary little delays huge is customers some it's not programs but slight or customers,

Cody Acree

that new you material acquisition program, counting are customer customer Sure. talking are And seeing So so existing you of or slight monetization customers attention to had Scott, you're your of to shifted on increase said from interest? impacts those a maybe solidify your that... engagements customers and you - their you your about

Scott Bibaud

existing on Yes. push working completion The into programs production. and thing most to with is customers to that we're get important for now get us

there's Although to great with rather to try start formal push have it's can starting lower to faster, our choice new existing all production given the ones. through contracts forth. programs customers can generally don't as because so a you you existing than and to But go we'll new programs get barriers, we best as started

Cody Acree

Sure.

blog here? you said mentioned that a put expand on more your on layer. you've MST you You about developments, Can at your thinner not all

Scott Bibaud

Sure.

So is thin. our MST quite

fraction say we XX annual it's the nodes process some or the new are nanometers quite small. X of at or of That's think - talking XXX I our the that report or on angstroms in newest nanometers now about order that. coming less. but along less

that So that a though had it about levels thin of some whether MST had applicable a - those have is very, those would the need really at people benefits for MST we whether brings. levels be about questions type because even it'd they dire be question very

the up Robert work so a really week it half, came the week But the of still publicize and thin his and customers get customers they - we effectiveness started last on it. and development to to and working films we're out blog have And have to that. talk about white new on then this chance a to or wrote some we information papers very, other out going leading we had so, haven't is start a recently to found information about internally and and that and very very in just good are lot really they that

Cody Acree

a the is that able that can for what you different process the guess, that lastly port then - board? of been I just in to the you you is the the were not learned has deliver, tailored that And recipe recipe release the delivery not other customers that's from applicable to process, customer that that every necessarily me, you what mentioned or knowing press across have

Scott Bibaud

No. our the In how deliver company's feel to think package recipe the so film an be about customer. all film if sure to for hard they and constructed, I And you our able know-how so kinks case together really very, many jewels in how patents of and We've successfully ways of actually delivering this so actually you the experimented in epi crown the Even someone to to is one the talk very past - in process a new at out we're to else - with look our the the this to is customers worked went build deliver a lot we future. delivering comfortable far. put that that it's what in make we very a to in that's we There's involved smoothly that and it, we tool. build. to

Mike Bishop

comes Shannon question Our of next Richard from Craig-Hallum.

Richard Shannon

to current any room pace not out fair progress that the are environment? the wafers is much here, call didn't a talking so Unfortunately, based most what the but lot I test on is probably a of sounds what like there that missed lot little a in details he seeing you're Cody's you're going seeing get of description given it of bit and so I'm this that to question run I a of here was about to prepared some limits full broach here, your fabs of there

Scott Bibaud

started we and last that It's we've February, in beginning wafers not new that is Cody year telling months. the on in just say in progress, the that my still watching last at early call, challenging. up, to becoming heating couple getting this And - projects which of were was wafers are because we is I would the run of we is I was just are but new able for that. seeing Yes, update been something something for even especially were it the but answer test more

Richard Shannon

an projects frames you there you're time your or already very that original run through like customer, that push limits those that have are the to to Phase interested any able on been you Are Is and can doing as Okay. your started wafers X expecting? on customers example?

Scott Bibaud

So delays far, heard about we any haven't on those programs. of any

Richard Shannon

you worried Are are run on pause giving wafers Okay. you show to about your that you pretty or going feel schedule? your is some that, customers confident to

Scott Bibaud

lived I mean Yes, before. we've through this

some but continue to to were were pushing delays forward think they the some it that we people is extent make able about excited I it with there delays.

the super is, on did because customers issue the requires think be on challenging. issues means more their a now, I not bigger that a I management fact new some program new wafers - R&D focused that a now interesting not these I to help bringing now mean the not turned and in of of lot but starting right then has innovative through also thing our - that we're we if bigger now only would right future. figure trying to capacity of the is right But is the engineering customers attention to out how expand solve capacity their think

today grow capacity problems in that of the demand billion been same going XXXX. billion about number $XXX to $XXX today. As you know, industry type that for from type come of about are market for growth market the with billion $XXX of having chips a there to that to to a forecasts is we're have And semiconductor going a

brings next strong six lot solved the So of MST the over be and really capacity years if have a next to to to going problems to still in the they solved do months customers. be don't able are tools to few nine get for that

to will be becomes how then run understand MST designing it crunch that with us this that during capacity working can to to when drives I the again. available So to hope demand start customers them capacity useful experiments

Richard Shannon

do far that the so Okay. Atomera who can you've talked to quarters for this can do were along base? pipe. else for on think progress is that all at that along early here, I pace phases more and especially your the know make on you couple Scott, going, customers encourage a less new of the anything farthest to I you adding kind for the anything or do those focusing particularly anything of edge customers customer leading about of keep can at customers,

Scott Bibaud

Yes.

But things wafers us do simulation we about of the CAD that of and to moving through lot that's lines you that not around phases MST processing a very that designed we been helpful of wafers MST just towards with One had and the few along production. has we working with lot something customers talk when A physically are talk is available a to ago. our CAD. us that about those through years can

- now a even says, to running can going a a wafers we better find well, us and period running solutions. can't to delay months that's these just in that going be during better be a to more it's few when customer simulations So give

a probability So do have the when get wafers, we having we'll higher of success.

way can So, even one working with customers issues. we definitely that through continue capacity yes, that's

Richard Shannon

Okay.

on is of from in any one customer on they of what that Trying anything like be get your in Phase quick there getting me Sorry, when enter with terms customer are. question last as to or thoughts figure Phase might today, when announced a terms X to Is this that? of sense announced to of name. out we who might Phase or production is is,

Scott Bibaud

hour the can This Phase point customer when amount really customer they'll process are a X to At don't trying the to of that. - will focus Phase that's it and when move this, name of is It they've think the it thing as and think they loosen JDA They've for still to going they from that some work process X of MST to sensitive where want to of into I've the I I means applications up questions development should are to that coming Phase to that say talk extremely intuitively and clear before all start business in but become about X. had would phase, proving us in a available half the are of sensitive of MST specific it going it they're mixture that do how Phase Phase send for never to type to customer they I'm we they but and month and a in us of they number of about an on a fab, this them confidentiality considering in X I we're to installed be some make thing. to obvious, in doing of if seen for customers great. go fast near they like a term. we deposit the different of sure X but units. One about their JDA decide the to one production, opposed now, about on into in not kind their And actually I to things lot make want have is, out going is

So they might be and able production. more a to try little into it bit take then it

to out you try exactly level didn't for which of little ask I clear to there's there. want know just up. that I seeing So confusion really a it detail, I'm

Mike Bishop

move accelerating why and he from is first the don't pipeline? and ahead the the is Scott, been Q&A And along the if conversation the it question into William and gaining here. the comes CAD MST customers moving Morrison asking that's right, typed we All is customers, chat with then go traction to

Scott Bibaud

Yes.

matter plan it on same working how go then fab. we conversations, of customers and have how some a MST to well and of fact, is we and Today we you used it As things our we tell get have into works to in would away when how be of product. it to put about happening in works simulation. can interesting would discussions building - be see integrated them to kind we we the and talking of they talking on go test doing about and wafer, deep right about MST And one first the CAD those type we'd they start their so it customers I'll physics can wafers discussion start their that's a of instead

them it's they to from to out having success the and we'll their for So get try higher lower they start. hopefully, some do, when probability right barrier make - our much make wafer customers of technology runs

really with we've had that. luck So good

MST and with helpful our CAD or very discussion existing what almost on now, customers have new every that's think off time. I with we're customers load talking leading been we for

Mike Bishop

those? questions and Epi then going it asked to your don't number JDA the we've why So it have used Is had it, where address of All of question, so on partner by tool. that? right. qualified, is a is And investors be on timeline the a that we number

Scott Bibaud

Okay.

center who years by tool be State facility. state-of-the-art to a Arizona. Arizona located facility owned transferred MacroTechnology It's semiconductor Arizona Tempe, in Beautiful used So Works believe the I is world-class State to at ago. our Motorola, it Epi

of a lot little very Now, And the which also a It's infrastructure to is - Epi, in engineering world. there you nearby. tanks excellence is why of for when epitaxial are just in need of outside large a site town and out fab hydrogen a that. you the bit That's number does engineering that of that that center suppliers Tempe, of lot need you have Phoenix of Phoenix? chemical an where of there including run fabs. a other are a semiconductor

set tool is up. Our

like have are actually then be but our The run to feel do - until wafers handling delivering like that it's and we know fulfilled and take even official definitely customer have the on or guess we and customers build requirements processing running that that of yet. We just - haven't qualified very our upside we're Yes, criteria. and quite that we before a those to being always approaches. bunch is comfortable off possession I and understand capability been in tools to time, internal and of I do hard - tool. very, new to metrology I And hitting wafers all the to equipment yet. I said, processing around facility full a film. that our - be R&D and there's - seems we - don't wafers corner. When we it the of again, into time wafer a will signed own XXX% possession started there that we try make met we're have right the a the there air it's things long soon this business qualifying do to and it's bunch that all I we I All we with of feel of them there that isn't - wafers cleaning market we're met the whole surrounding other has seed of hope is the we'll yet. wafers ability and whole lease well, have to downside ability there, the on on ahead is will other things have haven't close until we've taken it's

Mike Bishop

point? category and of on with at attention working the the not the it government and with that the you All radar your goal any advance shortage And if right. that you have the gotten chip deals do the or is, of last agencies you question seems help this the got - government question see so to federal federal you're it is

Scott Bibaud

agencies we regarding that. - really don't Yes, approached we haven't government

use current be that something We to that our applications, have why to but in are government various capacity help - the there's - solve other agencies now. been about expansion we hasn't we our talking technology for up for done to might reasons

Mike Bishop

Okay.

for point, session. think it the this turn I'll concludes to back at remarks. I So Q&A that closing you Scott

Scott Bibaud

questions. Mike, for all for today's you, presentation. good thank also Well, and you And attending thank right. you thank All the

you very pleased blog sense the be inside and keep to are articles last provide excitement to of feel posts a of on look to our continue you with three the updated to Atomera. and our months news results we able Please share our for We progress.

Should please including during Growth Bishop, investor up. to We up Stifel additional Needham Cross next follow call. to to support, our Insight, happy you for with look Mike look have alerts forward them forward Oppenheimer Emerging on along Media, sign contact activities, Technology you be some your and questions can again, we'll the with and and Thanks of You our atomera.com. update seeing scheduled our Sector marketing conferences. we website

Mike Bishop

All concludes right. And call. that today's

You may all disconnect.

Atomera (ATOM) 29 Apr 212021 Q1 Earnings call transcript