Everspin Technologies announced its financial results for Q2 2021. Revenues were $11.85 million, up 15% over Q1 2021 (and similar to Q2 2020), as STT-MRAM revenues jumped 56%. Net profit was $0.25 million, up from a loss of $0.46 million in Q1 2021 (and $1.29 million in Q2 2020).
At the end of Q2 2021, Everspin had $14.2 million in cash and equivalents, down from $15.5 million from the end of Q1 2021. Cash flow from operations was negative at $0.56 million. Looking into the next quarter, Everspin expects revenues to be in the range of $11.7 million to $12.8 million.
Everspin says that it is now focusing on turning its MRAM design wins into shipments and revenue, with the only limiting factor is industry supply.
Disclosure: the author of this post holds shares in Everspin (bought in the open market)