Investment

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 Technologies chip photo

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.

Read the full story Posted: Nov 10,2022

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 Technologies chip photo

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.

Read the full story Posted: Oct 20,2022

Everspin reported its financial results for Q2 2022

Everspin Technologies announced its financial results for Q2 2022, with revenues of $14.71 million (up 24% from Q2 2021) and a net profit of $1.7 million . The company's had a positive cash flow of $4.3 million (up from a negative cash flow of $600,000 last year). At the end of the quarter Everspin had $23.1 million in cash and equivalents.

Everspin 1Gb STT-MRAM chip photo

Everspin expects that industry supply constraints will limit supply, and the company reduces its forecast for Q3 2022 - with revenues seen to be in the range of $14.4 million to $15.4 million. Everspin says that price increases from its suppliers and expenses related to 28nm STT-MRAM development will reduce its earnings next quarter and the company will be breakeven or with a small profit.

Read the full story Posted: Aug 12,2022

Everspin reports its Q1 2022 financial results

Everspin Technologies announced its financial results for Q1 2022, with revenues of $14.3 million (up 39% from 2021) and a net income of $1.9 million (compared to a $0.5 million net loss in 2021).

Everspin Technologies chip photo

Everspin says its product backlog for the rest of 2022 is at an all-time high, as demand continues to outpace supply. The company continues to work with its foundry partners to increase production capacity, but it expects the supply chain constraints to tighten in H2 2022.

Read the full story Posted: May 12,2022

Everspin reports its Q4 2021 financial results

Everspin Technologies announced its financial results for Q4 2021. Revenues in the quarter came in at $18.2 million (up from $14.8 million in Q3 2021,and $10 million in Q4 2020). During the quarter, the company recognized $3.95 million in the IP monetization deal it signed in Q3 2021. The company reports Q4 positive net income of $3.7 million. Cash and equivalents at the end of the quarter increased to $21.4 million (up from $14.6 million in the end of 2020).

Everspin Technologies chip photo

Everspin has seen excellent Toggle MRAM shipments and revenue, but the company's STT-MRAM was flat as its largest customer was also impacted by supply constraints (not related to Everspin). The company expects STT-MRAM revenue to remain flat for the new couple of quarters. It expects Q1 2022 revenues to be in the range of $13.4 million to $14.2 million.

Read the full story Posted: Mar 03,2022

Everspin reports excellet financial results for Q3 2021

Everspin Technologies announced its financial results for Q3 2021. Revenues increased 46.5% from last year to reach $14.8 million, and the company reported a record net income of $880k.

Everspin 1Gb STT-MRAM chip photo

Everspin announced that during the quarter, it entered into two IP monetization deals worth $5.25 million, out of which $1.3 million was recognized in Q3. The rest of the amount will be recognized in Q4.

Read the full story Posted: Nov 12,2021

Everspin reports its financial results for Q2 2021, its first profitable quarter

Everspin Technologies announced its financial results for Q2 2021. Revenues were $11.85 million, up 15% over Q1 2021 (and similar to Q2 2020), as STT-MRAM revenues jumped 56%. Net profit was $0.25 million, up from a loss of $0.46 million in Q1 2021 (and $1.29 million in Q2 2020).

Everspin Technologies chip photo

At the end of Q2 2021, Everspin had $14.2 million in cash and equivalents, down from $15.5 million from the end of Q1 2021. Cash flow from operations was negative at $0.56 million. Looking into the next quarter, Everspin expects revenues to be in the range of $11.7 million to $12.8 million.

Read the full story Posted: Aug 13,2021

Orthogonal Spin Transfer MRAM developer Spin Memory liquidates

Orthogonal Spin Transfer MRAM (OST-MRAM) technology developer Spin Memory is shutting down. The company's main investor and founding company, Allied Minds, said in a statement that the main reasons challenges in securing new customers and COVID-19 which "significantly delayed the required testing of its development chip with ARM".

MRAM by Spin Memory photo

This is a sad ending to Spin Memory, which began its way as Spin Transfer Technologies - a spin-off from NYU that was established together with Allied Minds.

Read the full story Posted: Jul 15,2021

Everspin reports its financial results for Q1 2021

Everspin Technologies announced its financial results for Q1 2021. Revenues in the quarter increased 1.7% from last year to $10.3 million. The net loss in the quarter was $0.5 million, and the company reported a positive cash flow (of $1.6 million) for the third consecutive quarter.

Everspin 1Gb STT-MRAM chip photo

Everspin estimates that its Q2 2021 revenues will be in the range of $11 million to $12 million.

Read the full story Posted: May 07,2021

Everspin reported its preliminary Q4 2020 and full-year 2020 financial results

Everspin Technologies announced its preliminary Q4 2020 financial results. Total revenues were $10 million, down from $10.1 million in Q3 and up from $9.7 million in Q4 2019. Net loss int he quarter was $1.6 million, but the company generated $0.6 million in cash flow - Everspin's second consecutive positive cash flow from operations quarter.

Everspin Technologies chip photo

Looking at FY2020, Everspin's revenues increased 12.1% to $42 million. At the end of the year, Everspin had $14.6 million in cash and equivalents. In Q4 2020, the company also received its first royalty revenue from GF for embedded 22FDX process MRAM.

Read the full story Posted: Mar 01,2021