EverSpin was spun-off from Freescale in 2008 to handle its MRAM business. Since 2008 Everspin shipped more than 60 million MRAM Chips (discrete and embedded) into data centers, cloud storage, energy, industrial, automotive, consumer, and transportation markets.
The latest EverSpin news:
On December 15, Everspin Technologies announced that its CEO and President Kevin Conley has resigned. Conley served as CEO in 2017. The company's Chairman Darin Billerbeck will become interim CEO.
Everspin also lowered its guidance for Q4 2020 slightly - from $10.1-$10.9 million to $10.1-$10.5 million. Investors were not pleased and yesterday the stock declined 16%.
Everspin Technologies announced its Q3 2020 financial results, with revenues of $10.1 million, up 10% from Q3 2019 ($9.2 million) but down $14% from Q2 2020 ($11.8 million). The company's net less was $3.9 million.
Looking at the balance sheet, Everspin reports a cash flow of $1 million in the quarter - this was the first quarter ever for Everspin to have a positive cash flow.
Everspin Technologies reported its financial results for Q2 2020. Total revenues reached $11.8 million, up 37% from Q2 2019, and the GAAP net loss was $1.3 million (compared to a net loss of $3.7 million in Q2 2019). Cash and equivalents at the end of Q2 2020 were $12.9 million.
Everspin says it has extended its momentum into the second quarter, with record revenues of its 1Gb STT-MRAM product. Looking into Q3, Everspin says it sees a delay in new product introduction plans by customers, and so sees its revenues between $10 million and $10.8 million.
Everspin Technologies announced its Q1 2020 financial results, - with revenues of $10.1 million, up from $9.7 million in Q4 2019 and $10 million in Q1 2019. Net loss was $1.7 million, down from $3.1 million in Q4 2019. Everspin expects the growth to continue in Q2 2020 as demand from data center applications continues to be positive.
At the end of the quarter, Everspin had $14 million in cash and equivalents.
Everspin Technologies announced its Q4 2019 financial results, with revenues of $9.8 million (up 5% from Q3 2019) and a net loss of $3.1 million, down from a net loss of $3.7 million in Q3 2019.
In 2019, Everspin reports revenues of $37.5 million and a net loss of $14.7 million, down from $17.8 million in 2018.
Everspin Technologies announced that it has amended its STT-MRAM joint development agreement (JDA) with GLOBALFOUNDRIES to set the terms for a future project on an advanced 12 nm FinFET MRAM solution. Everspin agreement included 40 nm, 28 nm and 22 nm processes, and now also include 12 nm.
GF recently announced it has achieved initial production of embedded MRAM (eMRAM) on its 22FDX platform.
GlobalFoundries announced that it has delivered the first production-ready eMRAM on its 22FDX platform for IoT and automotive applications. The company says that its advanced eMRAM provides a "cost-effective solution for low-power, non-volatile code and data storage applications".
GF says that it has entered production and is working with several clients with multiple production tape-outs scheduled in 2020. GF's eMRAM is designed as a replacement for high-volume embedded NOR flash (eFLASH). GF says that its eMRAM has passed five rigorous real-world solder reflow tests, and has demonstrated 100,000-cycle endurance and 10-year data retention across the -40°C to 125°C temperature range. The FDX eMRAM solution supports AEC-Q100 quality grade 2 designs, with development in process to support an AEC-Q100 quality grade 1 solution next year.
Everspin Technologies announced that the company will undergo a restructuring plan designed to reduce annual operating expenditures and achieve quarterly cash flow breakeven this year. At the end of January the company will reduce its headcount - an approximately 15% reduction of the workforce.
Everspin also announced that it reaffirms its Q4 2019 revenue guidance of $9.3 million to $9.7 million.
Everspin Technologies announced that It is has received the qualification notice from a major OEM for its 1Gb STT-MRAM device. The company is now qualified to start making production shipments of its new chip for its first customer.
Everspin further announced that since it started MRAM production, it shipped over 120 Toggle MRAM and STT-MRAM devices.
Everspin Technologies announced its financial results for Q3 2019 - with revenues of $9.2 million (down from $11.5 million in Q3 2018) and a net loss of $3.7 million (down from $5.6 million in Q3 2018). Everspin says that it achieved record STT-MRAM revenues.
At the end of the quarter, Everspin had $14.8 million in cash and equivalents. For the next quarter, it expects revenues to be between $9.3 million and $9.7 million.