Everspin Technologies announced its financial results for Q1 2021. Revenues in the quarter increased 1.7% from last year to $10.3 million. The net loss in the quarter was $0.5 million, and the company reported a positive cash flow (of $1.6 million) for the third consecutive quarter.
Everspin estimates that its Q2 2021 revenues will be in the range of $11 million to $12 million.
Everspin also announced that it signed contracts with the US government related to the US RAD-Hard program. Everspin received a $3 million up-front payment and expects the total value of the project to be over $6 million.
Disclosure: the author of this post holds shares in Everspin (bought in the open market)
Posted: May 07,2021 by Ron Mertens