Everspin repots its Q1 2019 financial results

Everspin announced its financial results for Q1 2019. Revenues in the quarter were to $10 million (down from $14.9 in Q1 2018). Net loss was $4.3 million (up from $1.3 million in Q1 2018).

At the end of the quarter, Everspin had $18.5 million in cash and equivalents. For the next quarter (Q2 2019), Everspin expects revenues to be in the range of $9.6 million to $10 million.

Everspin says that it secured two design-ins for its new 28nm 1Gb STT-MRAM chips (Everspin started to ship samples in January 2019). Everspin also managed to increase its toggle MRAM yields which improved its profit margins.

Posted: May 09,2019 by Ron Mertens