Everspin hopes to get US government support to expand its 200 mm MRAM production capacity
Everspin Technologies announced that it has applied for the CHIPS Incentives Program, asking for funding for an additional 200mm MRAM production line. Everspin says the new funding will help it increase its long-term R&D IP capability.
In November 2022, Everspin asked for funding to build a new MRAM production line in Indiana.
Everspin reports its Q4 2023 earning results
Everspin Technologies reported its financial results for Q4 2023, with revenues of $16.7 million and a net income of $2 million. Product sales were a bit slower than last year, but licensing and royalties were higher at $4.3 million (up from $1.1 million in 2022).
For the full year 2023, Everspin achieved record revenues of $63.8 million (up 6% from 2022), and net income of $9.1 million. At the end of the year Everspin had a cash balance of $36.9 million.
Everspin reports its financial results for Q3 2023, launches a new MRAM for distributed Edge AI project
Everspin Technologies reported its financial results for Q3 2023, with revenues of $16.5 million (up 8% from Q3 2022) and a net income of $2.4 million. The company generated $3.6 million and its current cash balance is $34.9 million.
Everspin is cautiously optimistic about the next quarter, expecting revenue to be in the range of $15.4 to $16.4 million. It says demand for its toggle products remain strong and it sees increased demand for its xSPI family of STT-MRAM products.
Everspin expands its EMxxLX xSPI STT-MRAM product family
In 2022, Everspin Technologies announced the EMxxLX xSPI serial interface series, the industry’s first xSPI serial interface persistent memory. Later in 2022 the EMxxLX devices started to ship commercially.
The EMxxLX family offered an octal interface with 400MB/s bandwidth, compatibility with the xSPI standard and 1000X faster write times compared to NOR flash. The EMxxLX devices were available with density from 8Mb to 64Mb, and Everspin now announced that it is expanding its product offering, adding a 4Mb option and also new, smaller packaging for the 4-to-16-megabit products.
Everspin Technologies reported its financial results for Q2 2023
Everspin Technologies its financial results for Q2 2023 - with revenues of $15.7 (up 7% compared to 2022), a net income of $3.9 million, and positive cash flow of $3.9 million (which includes a tax credit refund of $2 million). At the end of the quarter, cash and cash equivalents were $30.8 million
The company says that its product backlog into 2024 continues to be high, but the company is experiencing some headwinds from the semiconductor downturn.
Everspin reports its financial results for Q1 2023, with continued profit and growth
Everspin Technologies reported its financial results for Q1 2023, with revenues of 14.8 million, at the high end of its guidance and an increase of 3% from 2022. The company's earnings remain positive (now for two years in an row), and cash flow during the quarter was $1.2 million.
The company says that its product backlog for the rest of 2023 and 2024 remains high, and the company is optimistic regarding its sales in the near future.
Everspin reports excellent results in Q4 2022, above its high end of guidance
Everspin Technologies announced its financial results for Q4 2022, with revenues of $15.7 million (above the high end of guidance, and up 3% from Q1 2022). The company reported net income of $0.6 million, this is the 7th profitable quarter in a row, and a positive cash flow of $5.2 million.
In 2022, Everspin reached record revenues of $60 million up 9% from 2022. In the year the company's cash flow from operation was $9.5 million, and the net income was $6.1 million.
Bugatti selects Everspin's 256Kb MRAM for its upcoming all-electric supercar
Everspin Technologies announced that Rimac Technology, designer of cars for its sister company Bugatti-Rimac, has selected Everspin's 256Kb MRAM for use in the upcoming innovative all-electric Nevara supercar.
The MR25H256AMDF 256Kb MRAM device, according to Everspin, is well suited for automotive applications and is qualified to the AEC-Q100 Grade 1 standard for use in demanding memory applications that require extreme reliability in critical data capturing systems.
Disclosure: the author of this post holds share in Everspin
Everspin to build a new MRAM production line in Indiana, hopes to secuire government support
Earlier this year, Everspin Technologies announced that it aims to build a new production line in the state of Indiana, US, that will increase Everspin's production capacity for both Toggle MRAM and STT-MRAM. The company is working with state and federal government sources to secure funding for the new production line.
Everspin says it also plans to work with the local research community to enhance domestic research for MRAM technology development, creating a Technology Development Center at the proposed Indiana-based location. Everspin says that it is the only US-based commercial manufacturer of MRAM devices today, and increasing its capacity in the US is of strategic importance to its commercial and US Government partners.
Everspin reported its financial results for Q3 2022
Everspin Technologies announced reported its financial results for Q3 2022, with revenues of $15.2 million (close to the end of its guidance, and up 3% from last year) and a net income of $1.9 million.
Everspin says that its product backlog remains strong, but customer inventory adjustments will have an impact on the backlog in coming quarters. The company continues to relieve its supply chain constraints, which is helping to address its unfulfilled toggle MRAM demand.
