Everspin reported its financial results for Q2 2022

Everspin Technologies announced its financial results for Q2 2022, with revenues of $14.71 million (up 24% from Q2 2021) and a net profit of $1.7 million . The company's had a positive cash flow of $4.3 million (up from a negative cash flow of $600,000 last year). At the end of the quarter Everspin had $23.1 million in cash and equivalents.

Everspin 1Gb STT-MRAM chip photo

Everspin expects that industry supply constraints will limit supply, and the company reduces its forecast for Q3 2022 - with revenues seen to be in the range of $14.4 million to $15.4 million. Everspin says that price increases from its suppliers and expenses related to 28nm STT-MRAM development will reduce its earnings next quarter and the company will be breakeven or with a small profit.

Disclosure: the author of this post holds share in Everspin

Posted: Aug 12,2022 by Ron Mertens