Everspin Technologies announced its preliminary Q4 2020 financial results. Total revenues were $10 million, down from $10.1 million in Q3 and up from $9.7 million in Q4 2019. Net loss int he quarter was $1.6 million, but the company generated $0.6 million in cash flow - Everspin's second consecutive positive cash flow from operations quarter.
Looking at FY2020, Everspin's revenues increased 12.1% to $42 million. At the end of the year, Everspin had $14.6 million in cash and equivalents. In Q4 2020, the company also received its first royalty revenue from GF for embedded 22FDX process MRAM.
Everspin also says that design wins in 2020 more than doubled compared to 2019. The company sold production-volume MRAM chips to more end customers than in any year of the company's history. In total, over 1,300 customers have purchased the company's chips.
Disclosure: the author of this post holds shares in Everspin (bought in the open market)
Posted: Mar 01,2021 by Ron Mertens