- Earnings call transcript Q3 2022

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Mike Bishop

Hello, everyone, and welcome to Atomera's Third Quarter Fiscal Year 2022 Update Call. 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.

As in prior quarters, we are using Zoom, and we'll follow a similar format with participants in a listen-only mode.

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

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

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

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

Scott Bibaud

of depth call. the are highlight to and through the year, to quarter of traction. the our believe customers turn seeing call XXXX commercialization of Heading Frank the we relationships be each time, but to afternoon, are Then and financials. we the Atomera's impressed I'll will takes engagements to I go and third closer quarter. our our third with process Good with some toward welcome we good the progress to quarter. The continue moving end over update in

impact First some quarter, and demand up, playing industry calls the that's Last and predicted I in their I'd to out of Atomera. in softening the industry on trends analyst address semiconductor like now reports. earnings

Forecast reductions restrictions. export demand lower broad-based, be by driven control seem to and

What an interest in periods for we to activity exception. case does new with This get like their coming record strong introducing from see seen customers benefit and interest from can Capacity in not that support appear to technology. out that, this have plentiful emphasize acquisition is by our seeing reduction Associated Atomera? from to and a allocation adoption this In and equipment. the environment tailwind short, provides Atomera growing the new be factories specialty done, of still somewhat type and We that reduced, new our an although CapEx available of work to MST. budgets, that is of processes is of increase reductions are a in technologies this the a forecast runs among wafer industry although they seek in we growing competitive resulting advantages as levels in capital I the projected in Historically, mean some does is of the this many companies. previously customers expenditures, development slowdown. by would additional customers,

participant this effect, solid makers. furthest those particular, year. industry domino new with experience significant customer in where the development. of customers see driving world's XX% technology, is to to followers. The least to as pipeline, players wide along fast MST, second industry maintain are semiconductor prior we progress in respond known in We quarters work other at continued a a adopt semiconductor on our adopts half together once customers, The can of the focus you largest has experienced we our from into continue As a who the range their representing of

We are to urgency with are production. move note, update activity towards that the progress. customers. I'd them In two some we've like spoken early our encouraged past, working important On among to adopters you by of and JDA the on customer about more

During in each to solutions being the customers their closely has last with problems fabs. been find these quarter, the collaborating experienced world MST Atomera team real of to

their are making achieve capabilities we to We bringing progress. technical use have of applications, to I been MST. not possible new of In strong very that prior each were believe their

disclose, through volume working Likewise, process plans progress have further ultimately actively me sure production. been four to and the development more on have we lead will that that on of each our results licenses to and other can toward we commercialization. then of for hoping will achieving to with what solutions restricted we are let advance hope are we since stage the licensees assure are now been our you we early year publicly we Although that this

we for are data will that steps. help some, us prepare For next to waiting the

shift is benefits For proof necessary others, the have to from planning MST we for demonstrating to that production.

we with positive milestones real process as are it's As given happen, only believe always, disclose agreements the I can the developments particular, to In be matter have on to any pipeline. customer we time them these when engagements. adopted. this our of widely driven, several frustratingly they in are become subject will requirements and MST for of significant slow. we news a will provide But in the Unfortunately, of time executed you confidentiality

complete for RF-SOI. wafer, help but die mission, to we most adopt with During product now our shrink license is convinced reductions even that solutions designed when customers possible our technology are profitability. mechanisms of the not go to driving understand which us to critically only these now around put absolutely of tight, to cost the for only this on offering are which quarter, the collaborate companies in see of things: gives But than MST-SP more mature we is both to both which there higher In ability priority solutions capacity and meet financial MST when plans semiconductor is is important one not are secondly, and makers. customers MST; their this the our continue to may a strong namely interest two two here slowdown or MST we we be companies. this becomes In into unique better use those leads achieve to each to benefit they our to now, specifically times customers, first through to and like a important. technology complex products, and solutions those areas, MST more by

question technologies these compelling associated their a benefit I fair ask, long to economic it think so if why adopt. it's takes to and so are

question, with stand for years but or of out. there are Most technology technology engineering in time long for some an product focuses period. three road-map, development been the kind A course, to have more many team and companies a A on Of have this production perhaps range work Consequently, to two answers on its they upgrade.

that the technology will big after next B even C identifying year's efforts. to a plan if to breakthrough. immediately and they identified So have the they add development real wait breakthrough, turn have development Generally, their

can they on does project fab on expected work reflection committed, of although vary begin, the its several timeline greatly no interest the just how This So, do resources. return, begin example the not allocating full months. or development is. is depending Once they're an for scarce

For few accelerate we extremely the last was years, to but expect now. slow, throughput it

only So as a I time. said it's of earlier, matter

a market, This of interest, prevent new lot is once press, have experiencing Moore's advanced even of generation nodes development high versatile past. than to about get call And slowing an year. to programs of it faster in year, and than read we why people of gate-all-around last these transistors. the for is particularly introduced we are new yield MST-SP developers I in are about use new to expect in you now which to move advanced reasons discussions and to last longer problems, were phenomenon example, In generated which most principal how one it's though started, customer they Atomera's Law. As the we the a most the taking the due transistors, in are more manufacturability market architectures nodes engagements bring frequently of volume. delays called next the technology

The high-k they is a so to resistance it this trying gate In can the silicon only precise dope to help are last to the between stack seen the experiments successful small they we opens these they of gate deal A means and is metal beyond industry manufacturing mobility intermixing. keep process. are and high metal it structures, these dopant gate-all-around used lower from manufacturing It designers still and source mechanisms heat in precise highly concentration metal need a preventing source place Even quarter, high leakage have prevent reacted high-k Atomera's sitting when channel tend the highly drain of the trying of steps, the height. conducted few electron from the by diffusing reducing finally, used other heat in that carrier are nodes more the can or dopant be substrate. structures But evidence in but of the mobility. engineering, by there with interface. drain certain materials to through ultra need structures best known solve its that one that to whole into in nanotransistor on silicon problem. process, techniques During can reduce are away prevent necessary MST angstroms can challenge also preserve at and our to diffusion. fundamental can to prevent tools. punch-through diffusion. contact MST is dope boundaries temperature to a diffuse for required in thus subsequent And transistors, manufacturing It exposed lower and to has be dopants gate at improve amount

our in progress progress gate-all-around a each emerging and the these opportunities distinct and tool issues. implementation technology faster for the is I adjacent what the saw development apparent this for epitaxial efforts experience the just MST past of in spoken when of of even we ideas and the have because deposition process used customers, industry development straightforward, between of new a gate-all-around our you at the getting wish critical I've For believe already this year. benefits greater addressing Many higher the manufacturing MST the inside first expertise half become activity I year increasing provides our is in process of team a An Atomera. is Atomera to through yield. process about layers MST customer with production into quarter steps extensively could pace building engineer, R&D of structures. the than team's

to power before, cycle and our company the point said take I we our this in advantage. are for industry As everything doing ideal is in

these and team that customer even Our importantly, make to more Atomera customers licensing more commercialization will recognized activity the growth new technology soon is take optimistic lead advances semiconductor a leader industry. and in towards will will that

let's financials. Now Frank have review our

Frank Laurencio

Thank of you, of we our XXXX. This issued close press results Scott. shows for the market the announcing third financials. slide quarter summary here At release today, our the a

to GAAP or GAAP This million, net loss three XXXX sequentially, million, $X.XX September offset over legal quarter other increase loss share was were XXXX, ended a $X.XX in share. G&A $X.X operating loss $X.XX over an QX in In QX. partly or months increase from were also net operating while in decline approximately Our per of GAAP basically marketing $X.X for of by and $X.X in expenses reflecting flat GAAP XXXX XXth, an of declined quarter. million approximately $X.X was net QX headcount expenses up and fees $X.X $XXX,XXX the increase slightly which due growth, million our was $XXX,XXX QX per was per $XXX,XXX sales as share. primarily of of million expenses R&D expense our expense

in in total headcount, increase compared our $XXX,XXX, expenses last quarter to a operating QX higher quarter to loss due Non-GAAP XXXX due XXXX XXXX GAAP to increased and to R&D third QX QX the increased to result expenses XXXX. losses primarily of full between stock of entirely compensation and costs lease net for quarter almost a partial differences and of QX non-GAAP loss million and $X.X net accordingly The million operating $X.X in XXXX. expense GAAP recruiting a lease only compared as engineering expenses non-cash a are by GAAP million in non-GAAP between of to in expenses. As was $X.X QX $XXX,XXX due expense compared quarter and

during $X million, increase reflecting and Our of during QX, $XX.X QX at ATM cash XXth, or cash was under approximately balance net and market an $XX.X September in the commissions, to million $X.X was at million Operating program. XXXX our equity million $X.X sales compared used of is from we million. end brought the which the quarter expenses at cash of financing of

During at the approximately per third an quarter, we $XX.XX sold under of share the price XXX,XXX average ATM. shares

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

revenue. is rest additional to customer quarter, QX the out. of guide pushed with need we'd required, now before we're has revenue ever are offer MST. engaged not like a go-to-market get our for diverse of past our this which across in And our when is the and current runs and zero, outlook customers licensing guidance wafer practice. in Turning applications Obviously, providing from our breakthroughs beyond where like Accordingly, near-term Atomera revenue to year consistent decisions array such these been XXXX. engagements innovative

non-GAAP in to our reduced July, to call operating million. I from expenses $XX.XX update last $XX.XX full arrange guidance of year Our million

first and the For bottom call year, of year, range. guidance remarks On will planned questions, non-GAAP our million, good call our for a non-GAAP have on slightly call, the on expect earnings a at more operating I'll be the we because provide below of the back $XX.X Scott that months of open summary I full the few expenses basis that, I'll nine year spending. expense end or visibility XXXX next to color specific we this totaled the to through With over end up Scott? before our our turn

Scott Bibaud

Frank. Thanks,

given backlog, we us full Customer and semiconductor platform half, implement in and Atomera solid have and variety of in positioned dip add of of year advantage. we associated product competitive advantage. momentum meet and build a strong their solutions for cost, to to cut are taking second like with on a half MST inclination companies to capacity perfectly the the the this accelerating. accomplishments in this with expected, capacity, the has is and first And the As tools progress the are environment built visits development achieve to new needs.

technical of context portfolio to believe we an move commercialization, of our continue forward of efforts capabilities to We in in the to look our you questions. and that environment forward add ideal license provide and will we to combination to future. news this Mike, take those this to market the with sharing now

Mike Bishop

Scott. you, Thank

type button Alternatively, my question. feel call then a ask of at please best to bottom question, the zoom in the your your them kindly on and the the to and and your may camera. click to first wish All live. Shannon do incoming I aggregate you Hallum. click you you the can raise turn Q&A our Richard, Richard window, If free relay will to button queries on you comes management. unmute Craig from to ask of question we if could question hand right, on now and

may You begin.

Richard Shannon

here. for Apologize trying at in once calls here to advance to listen two

have JDA customer. on on touching may first I maybe So here, these of but just touched your some topics

unit. and and engineering not central relationship? expand in being beyond being if about that or working or Have any talked business with the expanded work first to visibility that done you've units think, you I to one business

Scott Bibaud

Yes. the Thanks question, for Richard.

and team breakthroughs I kind with units. about that unit, say, we So we my achieved we work we've customer a of R&D able in different But into comments made we license agreement, aren't will about here. business JDA the few the can can talking to a able with of on say, But what disclose get and doing it. that expanded be to when I prepared our one remarks we're really say, that's expanding kind we I definitively have will to when be business

work agreement So them and to work get that with we believe well to we future. continuing type development us the very closely that to continuing in positions of to are obviously,

Richard Shannon

seeing work get and missed versus of I Scott, to for prioritizing less But enough. and they're here Fair opportunity fairly a offers what R&D utilization degree to about have they had may did what bit missed small run? all wafers mean, you excited or and Okay. you degree with some you're of again, think I those view And little are customers avenues to the of probably the they I allows more that you some -- that? other on Sounds a you them. have run what comments. number wafers, full utilization like more R&D them environment

Scott Bibaud

mean, get I and planned new it's that definitely we whatsoever problem we Yeah. customers do to are with have started. they if the planning wafers, that no to are wafers, running runs been additional

customers, was one working has of can't get any challenges think with promise, away. the technology hey, we I the a wafers we that And the go that us past seen customer newer have For fab. in your but a our may concern is had interested we've that of to lot say, in

talking with we had progress So in has able running wafers. now in are and with new then lot utilized we of because through, be very have it we taken them will wafers fully when long of finally, think the And we are we years to customers that a engage even just revenue sometimes about to a past time couple fabs folks, quickly. bearing they for

so as see that we up starting loosen are And to well.

in are in say, happen like would about in the that the yet, about practice to so. when future. things But coming. slowdown semiconductors, people the it's it see bookings, I are right? yourself entirely going Although, hit it's And analysts about has factories A can talking not slowdown

Richard Shannon

Okay.

leading had enough. comments. topic Fair Okay. some which of edge Hitting on nice the

To here. them a here needs to industry of may of your work they have but also of done with I think end intersecting on there. a guess couple updates as degree down as is for market versus kind of of lot most there introduction some technologies of what technologies, road. have the well that only you work that? do heard licensees getting the both of be the How do Obviously, those I gate-all-around to think the confidence I questions about you there. not

Scott Bibaud

are easier Yeah. I've even train get processes process help those move that the you talked about if it's on and at be of manufacture makes it are gate-all-around they out will always a But, challenge that it this get station. leaves technologies so to when technologies there and the it performance trying talking that can additive beyond and the for Everything we higher the right to them that, to waivers. point, about other before. the

on first a they of it round, use version use they performance. So even get if to the don't to yields may it better it on follow-on or higher

with If of you believe variations don't had at be second definitely we nanometer ones. TSMC's version, version, definitely whole can can -- five first, portfolio, that we'll they X, see first if we the to with intersect a third look intersect product you version. the the right, we of And later bunch that able believe the the we

only to for as the Now there are three more that's is players of some done that we've also applicable but of players type memory the gate-all-around well. developing by technology, techniques this advanced that are being very work developed

about very And so optimistic it. we're

Richard Shannon

Great you would rate If qualitatively, to this different there, did year? but there's It next couple know, perspective think questions might an can of about missed FX help think my rate a Did change about Okay. us for other it that? us us increase hiring spend of something Frank. have sounds next just work you Scott. and the plans kind a Thanks. think update lead you for or apologies, for there's Maybe this, that, like bit year? year, you a quick I you

Frank Laurencio

happy do No, to that, Yeah. Richard.

ended terms that given I year, the XX.XX, that that expect quarters $XX.X three to kind and come first QX the of for rest the around of I'd million bottom band of the of XX.XX given that through of at in in we'd of under right for the year, had we So a range.

and at last of big step we're for I the growth year. four planning you for about at I the quarters spending we sort that or not place seen quarter look I'm But of five be expect on the quarter the process any But that or I next next would and to year, of look sequential rate, being if the think back below guidance at think that's for that. grow sort So of XX.XX, throughout don't than be carry reasonable year. into there give our if middle bottom end we'll of that to functions, you trends we'll we've less that. where next in look I wouldn't to be. think sort expect a this but specific Directionally, prepared kind year

Richard Shannon

you helpful, caught Frank. down you me missed question on had a average of there. last there that the you ATM, by price comments I That's had shares the number the for And per on share Okay, that took

Frank Laurencio

Yeah.

we and So in quarter that's the XX-Q also. shares number our XXX,XXX, of sold last was

Operator

our Acree Thanks, next on Cody you if the comes mind Cody, Richard. wouldn't turning unmuting. from Benchmark. question camera of And and

Cody Acree

Thanks guys. Scott, question. extent what of that the taking having or are Maybe economic thanks my partners rest industry? of for may malaise you the with off may Yeah, those that around seeing be market if any the To start exposure. and Chinese not China we're your can exposed the I to

Scott Bibaud

for Yeah, so, the Cody. thanks question,

been to of we were Later Administration heavily get out bit on seeing engaged we just but Washington. Trump to First, had for concerns. during IP of -- because the were we some backed we a in but then have involved little China you know, too started off more, with because years we coming we get were signals we China hesitant

we now to right have China. really any significant exposure So, don't

say I go think probably opportunities war wouldn't be But now, I in around, ever then right and turns trade if this looking it there. us for we whatsoever. impacts would

folks of in process into help kind to adopting. differentiate I they're As that a fabs technology country fabs our gives their technologies a an matter those bringing move to domestic of us the own of that opportunity say by there's fact trying as lot fact, would

Cody Acree

any with working currently in not you're China. But partners

Scott Bibaud

That's right.

Cody Acree

at are the bit about the I being see lesser customer industry, point customer be Okay. but the being If it's I an definitely of you attitude the a tightening. where some macro then can so goes to as far the talk used move the pendulum belts a tightened just in, opportunity to that just attitude difference you in that and get facilities across could restraint again,

You've point cycles been you be could before a some where these point the for in of through that future. some at

Scott Bibaud

That's Yes. a good question.

swing, early you we're of know. First that in pendulum very as all,

sweet we're now, in really right the spot, where it's So people.

One R&D is things of so more So aren't really the pendulum slowed right? they they do. the far in a development we've capacity fab, lot fixed that pent-up doing of on companies development inside they're I thin down. life or have situation through cost been that's has yield capacity these They focused past to swung how this our interesting get activity was a mostly now to were few the years, this that to the so believe improve And far savings the company's all that don't work. a so ready has side seen where that wafers

they drive get we manufacturing people our I it the they us. profitability the a on Once something sweet And point can costs to do happens. think it more where to start we through what money, or our think really we don't spot so for at doesn't costs limited lower have. we that's capacity get product -- to say, save looking that can I need

to be lasts us while, puts great really think slowdown for I it's a I it really position. So for think going great in us. this if a

Cody Acree

around that, process. very that of all still like developing limited get you And said, encouraging. very it's and But in are your players application much is the to around there's development MSTs number comments

sense I not seeing a, applicable active we're part So you toward your of or more thought on more is makes implementation should are your having here that that discussions of more yet was we guess, of but or be a that and partners? logically, commentary

Scott Bibaud

could of after Yes, what believe in in need convince that just different most are And about each see bleeding seek their to they probably to advanced older there really just that to the work call, at not of everywhere. MST made do I all steps prior with engineers hard engagement like, And to certainly, different the putting we're foundries of say, we of outside at I like, say we technology. EPI kind our separate. players new in can we bring and our something on And them the doing can but have let's like in they they're of mean, that's piece production EPI on also EPI want and different involved to doing. are NIH equipment. all work. and five It's I that on where of implement know mean, and we one deep, to maybe implement levels put not they because to least hard But or six could six. constantly is this benefits in do, They you choose we not engagement, would but technology implement to direct to best one you using that very add type hesitant denying. they in an run there. it's process extra Cody, the And line. All some definitely are nodes, were EPI It's that But be are are that's companies. a with their to and something on. most piece we them I'd add-in the have more is people the bring, deeply now of get promoting each the help, guys in contact most I may that there's the you the this. comments what somewhat we no edge, want with

well. course, bleeding So be I think nodes we as are very optimistic about this probably that are included developed will edge, in if at the all of we get in future

Cody Acree

discussions customers. And let's see, lastly, XXXX budgets I guess, just your your on for Scott,

are customer's spending with been their obviously to is hear thoughts towards I'd attitude just some sync broader plans. next those, those have having like -- And thoughts in CapEx thoughts your your year? encouraging You on And that getting on your there?

Scott Bibaud

Yeah.

to absolutely, for record So do for than talking are one ever of think QX basically, spent customers to more them spending earnings call, but in going they of our forecasts, imagine I had two was I every forecasts in some means what now ago that spend years my have months those spend more back than company's they making got about far planned CapEx, six scaled you have history. they are to And the ago. they still

So, optimistic. yeah, very think I'm I

budgets plenty with were money. is think guys $X dollars, of talking they mean, R&D the us have million a of in about peanuts. the working billions I of lot I their are

at the with in cutbacks are this we anticipate so months. from And that next going see problems to customers year to cost least I of concerns XX don't because

Cody Acree

And point horizon Okay. Great. I a there that guess that you at foreseeable been sorry, you start to talk milestones Street your few to been we have think for Are might deliverables. just where looking sitting then, the revenue in could coming your positive. see there are lack But about for as that estimates I'm actually believe XXXX thing. predict term? you go, the in we on that the can are standard has situation I to I'm quarter certain wondering at hurdles wanted as quarters, more getting zero a far is here and or or one zero you last towards your know Thanks. and last visibility, guide of about I this

Scott Bibaud

that on customer gets of Once licenses, predict. always I've No. where very a then could a the into Actually, Phase get we soon. And are -- they're do and this more We hard license portfolio number manufacturing the question, III frustration little do are integration of believe share manufacturing doing in doing. a we your kind we what have I -- customers who we who are Cody. to license, in a they're what visibility a challenge said

always are hesitant license almost payments, manufacturing be get hope through we for they road. right more. wafer also they hope say, Phase they the we fees, to but nine that But happen license, takes but we months, run take it into there. revenue and could exactly will maybe only We in upfront do might license can that that'll Once run at can license a distribution get to royalty forecast them portfolio and wafer we that not the months for get happens point, V, start our real down that that, make I like we several payments nine have after then because when another

get give more there to would am Definitely, than revenue and So of I we that. I'm tired hopeful love soon. you forecast zero

Cody Acree

Frank, And be that you ATM your just have thing a the upper your it's is aggressively for got where you you, to end on that less? estimates there the and range that, buying cheap you've more one of program, range believe sure. where evaluation Sure, last buy that so might you thumb

Scott Bibaud

sort the opposite, it's -- would stick to it, thinking ATM. I think mean, range stock don't mean, I think the where of I right? in sort of And of sell don't, that you're we I in this no, we that. like a of would be buyback. ranges a of terms -- more we

And then trying our possible. I execute needs. to as as balance know, think at be our the the dilution we're cover average little to -- that to price anticipated best we last the one execution you maintaining But second quarter One sufficient as price program. two balance shows sheet, things, have judicious on the pretty to is using cash is frankly, right? about

broader know, can't how using within I know, But, metrics. executed what those it's think control, just our control what's you and of it in well mean been immune to can't that don't a we've that executing, I going is, ball are our are we are hurt or I have that on I I We're capital have are ranges our part that of not as say depend to stock we've the price, that and we equity to what delivering, own so. equities in -- sort absolute year you to one there proven look addressing we you badly crystal pretty because think do needs? because that'll overall, forward the the last ATM know, doing, instruments without when But change. market

no that. So fast, hard you there's no, there's formula and know, for

Mike Bishop

questions on in Q&A chat. some coming And here the

a Scott, there's wafer about on the -- them couple of before. talked runs we've questions, One that

wafer question on conference or you've so announced more color can on And the discussed give runs the is, you some prior that calls?

Scott Bibaud

preliminary conference number wafer -- had think some some said underway. I promising. a gotten that we very runs we Yeah, We've on results what of that we calls, gotten looked was had different prior

to of made the some it Some yet. of runs end have unfortunately wafer those and haven't them

you seen the -- year. And we -- hoping further. then technical that have out but beginning to challenges our that with results there some were is we've nothing this were with do technology, come at some what can -- the there that were of those may one of So, tell the to I delay runs data you of we know, runs I, see

we what decisions continuing step, generation, to So have the that next a in them work a those, customers mean near just say to license be I us doing I we're made I'll next which we're say of and can, want I agreements based on type would but future. with don't lead what will to the hope

Mike Bishop

know address in about Okay. the we updating couple but the it are of the a what touched needed so things And there's a I on to JDAs on production. to status prepared questions your little maybe comments, bit it for make JDA,

Scott Bibaud

comments JDAs. some make did I about Okay. our

I'll at us -- to jointly I think, there, we we've with in that to asked we and that mentioned we really so results -- number spoken various groups been but -- and the organization working help and we've they are we're on my JDA I and about compelling been we've the continue working -- we look engineering central technology that really who've seen past with them. work in the need customer that remarks as X, other as solving, about where give much point, right point not least say can forward. you can't a I the up to moving license I talking to multiple we're at a it. signed business the that's going you, and we has said, but where point at we -- I I so and much business haven't quite okay, something to And I give announce. mean, but That's can there, can start more that now take we're as unit haven't gotten units, on had with prepared color some

still we -- don't falls wafers we quite business category have customer JDA who the results yet, the one other of unit. directly with have had point we're those the I closely kind really into where can't license with either. so we update to can of working very push hope fab, there soon. but working them in get stage It and of guys a The in much the But you we to give

Mike Bishop

Okay.

property the about intellectual industry question is so And where your IP -- question there's does how a and the create a moving? the portfolio semiconductor moat around the is,

Scott Bibaud

a -- actually question. that's good really is This Yes.

is we portfolio patents XXX like to as they granted of it a more and -- have tech, our IP So of our cloud. composed than cover I pending, and think

and of and If are you in look us. is claims inside each there, something each that protects dozens patent, claim there dozens

fundamental would we certain try and And take do patents in build try to use MST try we so to to what around how areas. we is capability that possible whenever applications, people

for So bit example, technology talked gate MST some cover little technology. we're and I have all we may today a gate-all-around about that patents around and

intersecting Now, crazy many out would use coverage the it. try too cloud for of cloud lines to somebody they to hole get that would to around around. kind of that they try find figure just such around in a MST, There's have be who would or how work a like to technology to have we to that

very we but ongoing technology, good for are of future our have most patent also And not applications application a that believe specific. of uses coverage, likely so core the we lot only with for it

Mike Bishop

here. What memory has Atomera Okay. And the question sector? done final in

Scott Bibaud

Yes.

memory our targeted them they makers our memory of is of with know And most work market here working the can has. we're what know been we're has because to internally in solve reason the work some we find needs problems. technology trying consulting why we're towards we that the and memory sector is So are their that that and R&D with ways

of areas in are particularly -- and think size DRAM half and I a we up about while are MST an have our overall smaller ability that little today. to one chip which for use about amps, make to excited of the is been which the sense make memory

be engage to we lot if actual valuable. could could it with to help need things, though, amounts So of In that get R&D those those save power memory shrink enormous we area, do order on prove data companies and a our really very work them would the of to to claims. and

implemented can a almost that will software So things, And how need to it it pieces results move we we would and very benefits promising work. it TCAD to finally, exactly there’s to the of work. to three modeling chance silicon show have do be some people why engaging have need about a in any are to would then the We customer, theory and we have And them those with engagement need so ideally, strong we three how measured if modeling, we trying we show some have with that forward. customers. would

memory So have the on of that's one the we area key market. in that things going

number in background. working of a we little bit on have We other more the are it ideas that a

on. So what's that's going

Mike Bishop

will closing Scott. comments. you to back I it And Thanks, Okay. for turn

Scott Bibaud

the along to with you Thank seeing of during look are be atomera.com. on to pleased for to inside to support, website are of date I optimism on posts additional I'm we forward again Should to and news, for our questions, Well, our Discovery available share Mike investor today's scheduled to experiencing for call. sense you strong very next We the you give you which look we update to blog to have happy Atomera. attending thank contact Conference. articles presentation. our please Please our Right. who'll you marketing progress, a benchmark including everyone look progress our up continue you keep want Bishop, just with recent forward alerts your our and some to follow-up. activities, and

Mike Bishop

Call. Atomera the you, third everyone. Conference quarter concludes This Thank 'XX

Atomera (ATOM) 10 Nov 222022 Q3 Earnings call transcript