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Atomera Inc (NASDAQ:ATOM) shares are trading higher. The company on Wednesday updated its revenue guidance for the fourth quarter.
What Happened: Atomera achieved the second revenue milestone under its first commercial license agreement in late December after a customer validated the quality of MST film deposition on an Epi tool.
The semiconductor materials and technology licensing company said it now expects fourth-quarter 2023 revenues of approximately $500,000 versus the company’s prior guidance of $300,000 to $350,000. Current analyst estimates call for $300,000 in revenue for the fourth quarter.
“Our first commercial licensee was able to complete installation of our technology and independently validate MST film quality just weeks after receiving our recipe, bringing them one step closer to commercial distribution of MST-enabled products,” said Scott Bibaud, president and CEO of Atomera.
“Our customer can now manufacture wafers with MST on their own which should speed development and shorten the time to mass production and Atomera royalties.”
See Also: Why Is Multiple Sclerosis Focused TG Therapeutics Stock Trading Higher Today?
ATOM Price Action: Atomera shares were up 9.9% at $7.27 at the time of publication, according to Benzinga Pro.
Posted In: ATOM
