August 2021

Everspin Technologies announced its financial results for Q2 2021. Revenues were $11.85 million, up 15% over Q1 2021 (and similar to Q2 2020), as STT-MRAM revenues jumped 56%. Net profit was $0.25 million, up from a loss of $0.46 million in Q1 2021 (and $1.29 million in Q2 2020).

At the end of Q2 2021, Everspin had $14.2 million in cash and equivalents, down from $15.5 million from the end of Q1 2021. Cash flow from operations was negative at $0.56 million. Looking into the next quarter, Everspin expects revenues to be in the range of $11.7 million to $12.8 million.

Researchers from Northwestern University, in collaboration with researchers from China, Italy and France, developed a new SOT-MRAM device structure that enables deterministic switching without any need for bias magnetic fields.

The new approach, unlike most earlier methods, can be scaled to large wafers with good uniformity, since it doesn't rely on having a structural asymmetry in the device. SOT-MRAM devices based on this structure could be faster and more energy-efficient than current designs.