Everspin reports its financial results for Q1 2017

May 16, 2017

MRAM chip maker Everspin reported its financial results for Q1 2017. Revenues reached $7.9 million (up from $6.2 million in Q1 2016) while the net loss was $6.1 million (up from a loss of $4.5 million in Q1 2016). Everspin says that is received strong bookings for its first-generation toggle MRAM products during the quarter, while design activity for both toggle and STT-MRAM chips continue to gain traction.

Everspin 128Kb automotive MRAM photo

Everpin says it was selected by a major auto maker to include its Gen-1 MRAM chips in an emergency call system and a high-end navigation platform.

Everspin reports its financial results for Q4 2016

Mar 10, 2017

Everspin announced its financial results for Q4 2016. Revenues for the quarter reached $7.1 million (up from $6.8 million in Q4 2015) and the net loss reached $5.3 million (down from $6.3 million in Q4 2015).

For the whole of 2016, revenues were $27.1 million - up slightly from 2015 ($26.5 million). The net loss in 2016 was $16.7 million. Everspin says that most of the revenue in Q4 came from first-generation Toggle MRAM products. The company reports that design activity for both Toggle and STT-MRAM products continues to gain traction.

Everspin reports its financial results for Q3 2016

Nov 16, 2016

Everspin announced its financial results for Q3 2016. Revenues reached $7.1 million (slightly up from $7 million in Q3 2016) and net loss was $1.4 million (down from $4.5 million in Q3 2015).

Everspin reports that its first generation toggle-MRAM product revenues grew 9% in the first three quarters of 2016 compared to 2015.

Everspin's IPO to take place on October 7th

Sep 29, 2016

Earlier this month we reported that Everspin filed for an IPO, and today we learned that the IPO's date is set to October 7. Everspin expects to raise about $45 million and start trading in the NASDAQ with the ticker "MRAM".

Everspin generated $26.5 million in revenues in 2015, up from $24.9 in 2014. Net loss was $18.2 million in 2015, up from $10.2 million million in 2014. Everspin sold products to over 600 end-customers in 2015, with the two largest customers were NXP and Avago Technologies (Broadcom) - each accounting for 13% of Everspin's revenues. NXP is a customer for Everspin's embedded and sensor solutions.

Everspin files for an IPO, aims to raise $45 million

Sep 12, 2016

Everspin has filed for IPO, aiming to raise up to $45 million and start trading in the NASDAQ with the appropriate ticker "MRAM". If Everspin succeeds in its IPO, this should prove to be very positive for the MRAM industry and will enable to raise MRAM's technology awareness.

Everspin EMD3D256 256Mb ST-MRAM photo

In its S-1 Form filing in preparation for the IPO, Everspin says that it generated $26.5 million in revenues in 2015, up from $24.9 in 2014. Net loss was $18.2 million in 2015, up from $10.2 million million in 2014. In the first six months of 2016 Everspin reports $12.9 in revenues and a net loss of $10 million. Everspin further announced that it has 86 employees - half of which are engaged in R&D.

STT-MRAM maker Avalanche Technology raised $23 million

Feb 03, 2016

STT-MRAM developer Avalanche Technology raised $23 million from Thomvest Ventures, Vulcan Capital, Rogers Venture Partners, and VTB Capital. The company also has a substantial debt facility in place with Horizon Technology Finance.

Avalanche say that they are now bringing their Spin-Programmable STT-MRAM (SPMEM) discrete products to Tier-1 OEMS and licensing their embedded solutions (AvRAM) to strategic partners. The company previous financing round was announced in July 2012.

Crocus raised $21 million, has over 250 sensor customers, will break even in Q1 2016

Jun 19, 2015

Crocus Technology has secured $21 million in a new financing round. All of Crocus’ historical French and international investors participated in the round, including NanoDimension, Innovation Capital, IdInvest Partners, and Rusnano. Founded in 2004, Crocus has raised $194 million to date.

Crocus says that since it began producing MLU-based magnetic sensors in mid-2014, they have over 250 customers. The new capital will help Crocus to deploy its sensor product line in the key target markets: industrial, consumer electronics, automotive and solutions for IoT. Crocus will also strengthen its commercial resources (including finalizing a distribution network in Asia and reinforcing the support team) and develop develop new designs to enrich the product portfolio with integrated sensor and smart sensor applications. Crocus aims to reach breakeven in Q1 2016.

Everspin appoints a new chief financial officer

Apr 28, 2015

Everspin Technologies announced it has appointed Jeff Winzeler as the company’s Chief Financial Officer (CFO). Winzeler joins Everspin from Avnera, a privately held semiconductor company specializing in analog and digital SoCs, and he served as CFO at several public companies.

In January 2015 Everspin closed a $29 million funding round, led by Global Foundries and Western Digital Capital, and the company is ramping up STT-MRAM production, and busy accelerating and delivering perpendicular and Gigabit ST-MRAM to the market. It's possible that Everspin is also gearing up towards an IPO and that's one of the reasons a high-profile CFO is required.

Everspin raised $29 million from Global Foundries, Western Digital and others

Jan 26, 2015

Everspin Technologies announced that it closed a $29 million funding round, led by Global Foundries and Western Digital Capital. Existing investors (New Venture Partners, Lux Capital, Sigma Partners, Epic Ventures, and Draper Fisher Jurvetson) also joined in the round.

In October 2014 Everspin entered into a partnership with GlobalFoundries to build fully processed 300mm wafers with Everspin's ST-MRAM technology. In October it was announced that GF acquired a stake in Everspin (this is probably before this recent investment) and also acquired ST-MRAM processing equipment (40-nm).