Everspin - Page 2

Everspin Technologies announced its financial results for Q3 2025, with revenues of $14.1 million (up 16% from $12.1 million in Q3 2024), non-GAAP net income of $1.5 million, and a net income of $54,000 (down from $2.3 million last year). At the end of the quarter, Everspin had $45.3 million in cash and equivalents - up $0.3 million in the quarter. 

Everspin says that the strong sales were driven by high demand from its Low Earth Orbital Satellite, Casino Gaming and Energy Management segments. Its data center business remains strong with continued demand for toggle MRAM products for redundant array of independent disks or RAID from a broad selection of data center customers, including Dell, Supermicro, and others.

Frontgrade Technologies announced that it has expanded its MRAM product line, adding two new series, the Dual Quad Serial Peripheral Interface (Dual QSPI) series and the Parallel series. With these new MRAM chips, Frontgrade is targeting aerospace, defense, and industrial applications.

The Dual QSPI series, powered by STT-MRAM, offers a wide range of densities, 128Mb and 1/2/4/8Gb. These new devices bring flash-like non-volatility with SRAM-level speed and endurance. The Dual QSPI interface enables high-speed, synchronous communication and seamless integration into new or existing architectures. These memory chips are designed for boot, configuration, code execution, and data logging.

Everspin Technologies announced a strategic collaboration with RISC V-based products developer Quintauris, to bring advanced memory solutions into the Quintauris ecosystem.

The two companies will integrate Everspin's MRAM into Quintauris’ reference architectures and real-time platform, with an aim to target automotive, industrial and edge applications where data persistence, integrity, low latency and security are critical.

Everspin Technologies announced its financial results for Q2 2025. Total revenues were $13.2 million, up from $10.6 million in Q2 2024, while the company's net loss was $0.7 million, down from a $2.5 million loss a year ago.

EVerspin says that its results came at the high end of expectations, driven by strong demand across its entire MRAM product portfolio. The company generated $2.9 million in cash during the quarter, and now was $45 million in cash and equivalents.

Everspin Technologies reported its financial results for Q1 2025, with revenues of $13.1 million, above the company's previous guidance range, and  net loss of  of $1.2 million. At the end of the quarter, Everspin had $42.2 million in cash and equivalents, up slightly from the previous quarter.

The company did not change its guidance in 2025, saying that it expects a ramp up in revenue in the second half of the year. 

Everspin Technologies announced new additiontions to its PERSYST EMxxLX family, the EM064LX HR and EM128LX HR, targeting automotive applications. These new chips will operate at temperatures from -40°C to +125°C, meeting the AEC-Q100 Grade 1 standard.

The new chips offer capacities of 64Mb and 128Mb, Quad SPI Interface, fast write speeds and a simple architecture. Everspin will start offering engineering samples in June 2025, with mass production scheduled by the end of the year.

Last month, during Everspin's conference call, the company updated that it has signed a contract with Purdue University to advance AI hardware based on its MRAM technology, valued at $10.5 million over four years. Now the company has officially announced this new contract. 

Everspin says that this is a strategic award to work with a consortium led by Purdue University to utilize Everspin MRAM as the underpinning in a program called CHEETA (CMOS+MRAM Hardware for Energy Efficient AI). The contract allows for phases totaling up to $10.5 million for Everspin Technologies over four years. The current phase with Everspin Technologies is valued at approximately $4 million.

Everspin Technologies reported its financial results for Q4 2024, with revenues of $13.2 million, and net income of $1.2 million. 

Reflecting on the whole year, revenues in 2024 reached $50.4 million (down 21% from 2023) and net profit  was $0.8 million. At the end of Q4 2024, the company had 42.1 million in cash and equivalents, up $3.8 million from the previous quarter. 

Everspin Technologies announced that its PERSYST MRAM is now validated for configuration across all Lattice Semiconductor Field Programmable Gate Arrays (FPGA). 

Everspin says that customers are already taking advantage of the MRAM support in their designs that utilize Lattice’s FPGA.

Everspin Technologies reported its financial results for Q3 2024, with revenues reaching $12.1 million (down from $16.5 million in Q3 2023), and a net profit of $2.3 million. 

For the fourth quarter 2024, Everspin expects total revenue in a range of $12 million to $13 million. At the end of Q3 2024, the company had $39.6 million in cash and equivalents, up $2.8 million from the previous quarter.