Atomera Shares Struggle Amid Financial and Partnership Headwinds

The stock of semiconductor materials specialist Atomera continues to face significant pressure. Trading near its 52-week low, the equity has extended its decline following a loss of over 60% last year. Recent quarterly results and a setback in a key strategic partnership are weighing heavily on investor sentiment.

A notable strategic challenge emerged from Atomera's collaboration with STMicroelectronics. The joint project focused on the BCD-110 process did not progress as anticipated. A planned transition to 300-millimeter silicon wafer production introduced delays, and a process qualification is no longer anticipated within the 2025 timeframe.

Despite this development, Atomera reports broadening interest in its core Mears Silicon Technology (MST) across several critical semiconductor segments. These include Gate-All-Around architectures, DRAM, RFSOI, and power electronics. The company processed a record number of MST wafers for customers during the period. Furthermore, it has appointed a new Vice President of Sales, Wei Na, to accelerate the commercialization of its technology.

Should investors sell immediately? Or is it worth buying Atomera?

Persistent Financial Strain

Atomera's financial challenges remain pronounced. For the third quarter of 2025, the company posted a net loss of $5.6 million, equivalent to a loss of $0.17 per share. This compares to a loss of $4.6 million in the same period the prior year. The firm's liquidity position, comprising cash, cash equivalents, and short-term investments, declined to $20.3 million as of September 30, 2025, down from $26.8 million at the end of 2024. Atomera again recorded no revenue for the reported quarter.

Industry Shift May Present Long-Term Opportunity

The broader semiconductor industry is undergoing a fundamental transition, which may eventually benefit Atomera's positioning. A November 2025 industry study revealed that 94% of sector leaders believe traditional chip miniaturization, or node scaling, is insufficient to meet the demands of artificial intelligence. Instead, 99% are focusing on new materials and complementary technologies.

Atomera's MST technology is situated precisely within this emerging focus area. It provides a quantum-mechanically engineered material enhancement for advanced chip designs. This industry-wide pivot toward a hybrid approach, combining structural scaling with material innovation, could prove crucial for the long-term prospects of the pre-revenue technology firm. The progression of customer engagements and a path toward reducing losses will be critical next steps to monitor.