Atomera Incorporated (NASDAQ:ATOM) Q4 2022 Earnings Conference Call February 15, 2023 5:00 PM ET

Company Participants

Mike Bishop - IR

Scott Bibaud - President and CEO

Frank Laurencio - CFO

Conference Call Participants

Cody Acree - Benchmark

Richard Shannon - Craig-Hallum

Mike Bishop

Hello, everyone, and welcome to Atomera's Fourth 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 will 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. Then, we will open the call for questions. If you are joining by telephone, you may follow a slide presentation to accompany our remarks on the Events and Presentations section of our Investor Relations page on our website.

Before we begin, I would like to remind everyone that during today’s call, we will make forward-looking statements. These forward-looking statements, whether in prepared remarks or during the Q&A session, are subject to inherent risks and uncertainties.

These risks and uncertainties are detailed in the Risk Factors section of our filings with the Securities and Exchange Commission, specifically on the company’s annual report filed on Form 10-K filed with the SEC today February 15th, 2023.

Except as otherwise required by Federal Securities laws, Atomera disclaims any obligation to update or make revisions to such forward-looking statements contained herein or elsewhere to reflect changes in expectations with regard to those events, conditions, and circumstances.

Also, please note that during this call, we will be discussing non-GAAP financial measures as defined by SEC Regulation G. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in today's press release, which is posted on our website.

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

Scott Bibaud

Thanks Mike. Good afternoon, and welcome to Atomera's fourth quarter 2022 update call. I'd like to bring you all up to date on our progress in the last three months and summarize our accomplishments for 2022, which I considered to be a very strong year for at America.

But first, let me give some context to the events happening in our industry. More so than in most areas, semiconductors have gone through a quite predictable business cycle ever since manufacturing started in the early 1960s with consistent sequences of very sharp growth, followed by an equally sharp decline happening roughly every four or five years. The last few years have been very high growth ones with the associated capacity crunches and ASP inflation that you would expect in that environment.