Everspin announced a restructuring plan to reduced expense and achieve breakeven in 2020

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 1Gb STT-MRAM chip photo

Everspin also announced that it reaffirms its Q4 2019 revenue guidance of $9.3 million to $9.7 million.

Everspin announces its Q3 2019 financial results

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.

Everspin Technologies chip photo

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.

Everspin says revenues in Q2 will be lower than first estimated

Everspin Technologies says that revenues in the second quarter of 2019 (ending today) will be lower than first expected. In May Everspin said that they expect revenues to be in the range of $9.6 million to $10 million, but now it says revenues will be in the range of $8.3 million to $8.5 million.

Everspin gives three reasons to the lower guidance - lower demand from China due to ongoing slowdown, lower data center investments which lowered the demand for enterprise server RAID controllers and a "broad-based reduction in turns business with distributors that occurred late in the quarter".

Avalanche Technology raises $33 million in a new funding round

pMTJ STT-MRAM developer Avalanche Technology announced that it closed its latest funding round led by Thomvest Ventures, having raised $33 million.

Avalanche currently brands its MRAM chips as P-SRAM (persistent SRAM) devices. The new funds will enable the company to develop higher-density P-SRAM devices. In addition, Avalanche says it will develop the higher densities of "persistent DRAM" required for the next generation of machine learning architectures.

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 reported its Q4 2018 financial results

Everspin announced its financial results for Q4 2018. Revenues in the quarter grew 21% from last year to reach $12.3 million, while total year revenues in 2018 grew 38% from 2017 to reach $49.4 million. Net loss in the quarter was $3.5 million (down from $4.4 million in Q4 2017). Net loss for the whole 2018 was $17.8 million (down from $21.1 million in 2017).

Everspin says that it has increased the production volume of its 40nm 256Mb STT-MRAM in support of its lead flash array customer. Everspin ended 2018 with with cash and cash equivalents of $23.4 million.

Everspin reported its financial results for Q3 2018

Everspin announced its financial results for Q3 2018 - revenues increased 28% year-over-year to reach $11.5 million, and the company's net loss was $ 5.6 million.

Everspin says it is pleased with the progress it made in the quarter in both its Toggle MRAM and STT-MRAM product lines. The company remains on track with its planned 1Gb STT-MRAM chip sample in December 2018.

Everspin reports its financial results for Q2 2018

Everspin announced its financial results for Q2 2018 - with revenues of $10.8 million (up from $8.9 million in Q2 2017) and a net loss of $6.6 million (up from $5.2 million in Q2 2017).

Everspin STT-MRAM banner image

At the end of the quarter Everspin had $32.7 million in cash and equivalents. Everspin expects revenues in the next quarter to be between $10.6 million and $11 million.

Everspin reports its financial results for Q1 2018

Everspin announced its financial results for Q1 2018 - revenues reached a record $14.9 million as product revenues grew more than 40% compared to Q1 2017 and as Everspin received an upfront 3D sensor license fee with Alps Electric. Net loss in Q1 was $1.3 million, down from $6.1 million in Q1 2017.

At the end of the quarter, the Everspin had $33.9 million in cash and equivalents (up from $13 million in Q4 2017). In February 2018 Everspin raised $24.5 million in a secondary offering. Everspin expects revenues in Q2 2018 to be in the range of $10.9 million to $11.3 million.