Everspin Technologies reported its financial results for Q2 2020. Total revenues reached $11.8 million, up 37% from Q2 2019, and the GAAP net loss was $1.3 million (compared to a net loss of $3.7 million in Q2 2019). Cash and equivalents at the end of Q2 2020 were $12.9 million.
Everspin says it has extended its momentum into the second quarter, with record revenues of its 1Gb STT-MRAM product. Looking into Q3, Everspin says it sees a delay in new product introduction plans by customers, and so sees its revenues between $10 million and $10.8 million.