September 2016

Earlier this month we reported that Everspin filed for an IPO, and today we learned that the IPO's date is set to October 7. Everspin expects to raise about $45 million and start trading in the NASDAQ with the ticker "MRAM".

Everspin generated $26.5 million in revenues in 2015, up from $24.9 in 2014. Net loss was $18.2 million in 2015, up from $10.2 million million in 2014. Everspin sold products to over 600 end-customers in 2015, with the two largest customers were NXP and Avago Technologies (Broadcom) - each accounting for 13% of Everspin's revenues. NXP is a customer for Everspin's embedded and sensor solutions.

Spin Transfer Technologies (STT) announced that it fabricated 20nm perpendicular MRAM magnetic tunnel junctions (MTJs) based on the company's Orthogonal Spin Transfer MRAM (OST-MRAM).

STT is now preparting to deliver OST-MRAM samples to select customer, following requests from "certain major semiconductor and systems companies". The company is processing more than 40 wafer lots at its R&D fab in Fremont, California.

Back in July 2016 (yes, we missed that one, but better late than never), Samsung Foundry's business development chief Kelvin Low said that the company is set to offer STT-MRAM on its 28nm FDSOI manufacturing process by the end of 2018.

To be more precise, the STT-MRAM in 2018 will be on a not-finalized process (what Samsung calls Risk Production Phase) - and real volume production will only begin in 2019. Samsung will be pushing its eFlash 28nm production before STT-MRAM will be available - but the company expects MRAM to be a favorite in the long term.

Everspin announced that its perpendicular (pMTJ) STT-MRAM memory is going to be deployed by Global Foundries as an embedded 22nm memory. Everspin licensed its technology global foundries which will offer this as part of its 22FDX platform.

The 22FDX platform targets emerging applications such as battery powered consumer devices, IoT, Advanced Driver Assistance Systems (ADAS) and Vision Processing. Customers of Global Foundries will now be able to embed MRAM memory in next-generation SoC and MCU based producers.

Everspin has filed for IPO, aiming to raise up to $45 million and start trading in the NASDAQ with the appropriate ticker "MRAM". If Everspin succeeds in its IPO, this should prove to be very positive for the MRAM industry and will enable to raise MRAM's technology awareness.

In its S-1 Form filing in preparation for the IPO, Everspin says that it generated $26.5 million in revenues in 2015, up from $24.9 in 2014. Net loss was $18.2 million in 2015, up from $10.2 million million in 2014. In the first six months of 2016 Everspin reports $12.9 in revenues and a net loss of $10 million. Everspin further announced that it has 86 employees - half of which are engaged in R&D.

Everspin announces that it is going to demonstrate the world's fastest solid-state drive (SSD) using its latest perpendicular ST-MRAM technology. The drive achieves continuous write operations of 1.5 Million IOPS, using Everspin's Everspin’s 256Mb DDR3 chips (manufactured by global foundries).

Everspin started sampling its new pMTJ ST-MRAM chips last month. The p-MTJ ST-MRAM offers improved performance, higher endurance, lower power, and better scalability compared to previous MRAM and ST-MRAM products. Everspin is developing on a scaled-down 1Gb version.