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.

Everspin reports its financial results for Q4 2017

Everspin announced its financial results for Q4 2017 - revenues reached a record $10.1 million (up 43.3% from the $7.1 million in Q4 2016). Net loss in Q4 2017 was $4.4 million (down from $5.3 million in Q4 2016).

For the full year 2017, revenues increased 32.6% and reached a record $35.9 million (up from $27.1 million in 2016) - while the net loss in 2017 was $21.1 million.

Everspin announces preliminary Q4 2017 financial results, is set to raise $25 million in a public offering

Everspin announced its preliminary unaudited financial results for Q4 2017. Total revenues is estimated at $10 million to $10.2 million, up from $9 million in Q3 2017 and $7.1 million in Q4 2016. The net loss is estimated at $4.3 million to $4.5 million (down from $5.4 million in the past quarter and $6.1 million in Q4 2016).

Total cash and equivalents as of the end of 2017 was $13 million. Everspin also announced it is set to raise about $25 million in a new underwritten public offering.

Everspin reports its financial results for Q3 2017, focuses on 256Mb STT-MRAM

Everspin reports its financial results for Q3 2017. Revenues reached a record $9 million (up from $7.2 million in Q3 2016 and up only slightly from last quarter), while the net loss grew to $5.4 million (up from $1.4 million in Q3 2016).

Everspin  Q3 2017 earnings slide

At the end of the quarter, Everspin had $17.8 million in cash and equivalents (down from $21.2 million at the end of Q2 2017). Everspin expects revenue in Q4 2017 to be in the range of $9.9 million to $10.3 million.