Everspin reported its financial results for Q2 2024
Everspin Technologies reported its financial results for Q2 2022. Revenues were $10.6 million (down from $15.7 million in Q2 2023), and net loss was $0.2 million (down from a new profit of $5.4 million in Q2 2023). The company is cash flow positive, generated $1.7 million in the quarter, and ended it with $36.8 million in cash and equivalents.
During the quarter, the company experienced weakness in toggle MRAM sales, partly due to inventory consumption and partly due to unfavorable currency exchange. Looking ahead, Everspin sees positive signs of inventory consumption, and expects a modest ramp in toggle MRAM sales in the rest of 2024. Everspin said it has strong traction with its new PERSYST family of MRAM products, and expects to start delivering the first products to its customers towards the end of 2024 or early 2025.
Everspin and QuickLogic sign a strategic agreement to bring MRAM technology to radiation hardened FPGAs
In 2022, Everspin Technologies signed a contract to provide MRAM technology, design, and back end of line manufacturing services to QuickLogic Corporation for a project funded by the US Department of Defense.
Today Everspin announced a new strategic contract with QuickLogic. Everspin will provide its innovative AgILYST MRAM technology, logic design, and back end of line manufacturing services to advance the development and demonstration of a Strategic Radiation Hardened (SRH) high-reliability Field Programmable Gate Array (FPGA) technology.
IBM's next-gen FlashCore modules to feature Everspin's 1 Gbg STT-MRAM
Everspin announced that IBM has chosen the PERSYST EMD4E001G 1Gb STT-MRAM for use in their FlashCore Module 4.
Everspin says that its EMD4E001G high-performance persistent memory ensures critical data integrity even during power loss. With a DDR4 interface, it delivers 2.7 gigabytes/second of both read and write bandwidth, coupled with instant non-volatility.
Everspin reports its financial results for Q1 2024
Everspin Technologies announced its financial results for the first quarter of 2024. Revenues were $14.4 million (down slightly from Q1 2023) and a small loss of $0.2 million (compared to a net income of $0.8 million in Q1 2023).
Everspin reports continued weakness in Asia Pacific, and in the industrial, consumer and automotive markets. However, it is also expecting a ramp up in both design wins and shipments for both toggle MRAM and STT-MRAM in the second half of 2024. In the next quarter, however, it expects revenues to drop significantly to $10 million to $11 million.
Everspin rebrands its persistent memory product family as PERSYST
Everspin Technologies announced that its persistent memory product family is now organized under the new brand name PERSYST. Everspin says that this new initiative to simplify product identification beyond conventional alphanumeric identifiers will make it easier for companies select the right solutions. The company’s legacy toggle MRAM parallel and serial products, 1Gb ST-DDR4 and new EMxxLX xSPI Industrial STT-MRAM will reside under the PERSYST brand.
Everspin says that the PERSYST family of products represents the unique combination of RAM-like speed and latency with non-volatility. With virtually unlimited endurance, PERSYST provides the speed and persistence to capture critical data continuously. It's perfect for use in a variety of industries, such as, automation, robotics, networking, data storage, AI, healthcare, gaming and FPGA.
Tiempro Secure's Secure Element succesfully implemented in GlobalFroundries 22-nm process with MRAM memory
France-based Tiempro Secure announced that its TESIC RISC-V Secure Element was implemented in GlobalFoundries’ 22-nm platform with embedded MRAM, after a rigorous characterization process.
Tiempo Secure says it leveraged its long-standing know-how in Secure IP, to adapt its TESIC design to the 22FDX technology process node. The TESIC platform has a secure architecture based on a RISC-V CPU core, several memory types (including ROM, RAM, Cache, Crypto-RAM, and MRAM), random number generators, security sensors, and secure crypto-accelerators. This provides a pre-silicon certified IP solution on GF’s 22FDX to SoC manufacturers who require a high-end Secure Element.
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.
