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 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.
STT-MRAM developer Numem secured its Series A funding round
High-performance STT-MRAM developer Numem announced that it has secured a Series A funding round, with investments from Cambium Capital and Doorga Capital. The company did not detail the investment amount.
In 2020, Numem announced that it has been selected for a NASA AI project, for which the company will supply its Numem NuRAM MRAM-based Memory.
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.
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.
Everspin to provide MRAM IP and manufacturing services to QuickLogic Corporation
Everspin Technologies announced that it has signed a contract to provide MRAM technology, design, and back end of line manufacturing services to QuickLogic Corporation. At the first stage, Everspin will develop and demonstrate Strategic Radiation Hardened (SRH), high reliability Field Programmable Gate Array (FPGA) technology to support identified and future Department of Defense (DoD) strategic and space system requirements.
Everspin says that the initial contract is potentially valued at $2.8 million, with subsequent options bringing the total to approximately $8.7 million. The project is sponsored by DoD’s Trusted and Assured Microelectronics (T&AM) Program.
