Everspin announced its financial results for Q3 2018 - revenues increased 28% year-over-year to reach $11.5 million, and the company's net loss was $ 5.6 million.

Everspin says it is pleased with the progress it made in the quarter in both its Toggle MRAM and STT-MRAM product lines. The company remains on track with its planned 1Gb STT-MRAM chip sample in December 2018.

At the end of the quarter, Everspin had a cash balance of $31.4 million. The company expects its Q4 2018 revenues to be in the range of $11.8 - $12.2 million.

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