Welcome to our dedicated page for Everspin Technol news (Ticker: MRAM), a resource for investors and traders seeking the latest updates and insights on Everspin Technol stock.
Everspin Technologies, Inc., headquartered in Chandler, Arizona, is the worldwide leader in the design, manufacture, and commercial shipment of discrete and embedded Magnetoresistive RAM (MRAM), offering data persistence, superior performance, and endurance. With over 70 million MRAM products deployed across diverse markets such as data centers, cloud storage, energy, industrial, automotive, and transportation, Everspin has established the most robust and rapidly growing base of MRAM users worldwide.
Everspin's portfolio features advanced MRAM technologies like Toggle MRAM and Spin-transfer Torque MRAM (STT-MRAM). These technologies deliver unmatched reliability and performance in non-volatile memory, ensuring mission-critical data remains protected against power loss. The company’s revenue streams include sales of MRAM-based products, licensing and royalties on MRAM and magnetic sensor technologies, backend foundry services, and design services for third parties.
Operating in key geographic regions such as North America, Europe, the Middle East, and Africa (EMEA), and the Asia-Pacific (APAC), Everspin maintains a strong global presence. Its products are integral to applications demanding high data integrity and endurance, making them essential in sectors where data loss is not an option.
Recent achievements for Everspin include expanding its product line and growing its market share in strategic industries. The company continues to innovate in MRAM technology, driving advancements that enhance the performance and reliability of memory solutions globally. For more detailed information and the latest updates, visit Everspin Technologies.
Everspin Technologies (NASDAQ: MRAM) reported Q4 2024 financial results with revenue of $13.2 million, down from $16.7 million in Q4 2023. The company achieved 178 design wins in 2024.
Q4 highlights include MRAM product sales of $11.0 million, gross margin of 51.3%, and GAAP net income of $1.2 million ($0.05 per diluted share). Cash position strengthened to $42.1 million.
Full year 2024 results showed total revenue of $50.4 million compared to $63.8 million in 2023, with MRAM product sales of $42.2 million. The company maintained a gross margin of 51.8% and reported GAAP net income of $0.8 million ($0.04 per diluted share).
For Q1 2025, Everspin projects revenue between $12-13 million with an expected GAAP net loss per share between $(0.10) and $(0.05).
Everspin Technologies (NASDAQ: MRAM) announced that its PERSYST MRAM has been validated for configuration across all Lattice Semiconductor Field Programmable Gate Arrays (FPGA). The validation, enabled through the Lattice Radiant™ software suite, positions MRAM as a superior alternative to traditional flash memory for FPGA configuration.
The PERSYST MRAM offers significant advantages over NOR flash, including higher endurance, faster read/write speeds, and better data retention. These features make it particularly suitable for mission-critical applications in industrial, aerospace, military, and automotive sectors. The PERSYST EMxxLX MRAM family, available with capacities up to 128Mb, is currently shipping in industry-standard packages.
Everspin Technologies (NASDAQ: MRAM), a leading manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions, has scheduled its fourth quarter and full year 2024 financial results announcement for Wednesday, February 26, 2025, after market close. The company will host a conference call at 5:00 p.m. Eastern Time on the same day, featuring President and CEO Sanjeev Aggarwal and CFO Bill Cooper to discuss the financial results. Investors can access the webcast through the company's investor relations website.
Everspin Technologies (NASDAQ: MRAM) has appointed William 'Bill' Cooper as Chief Financial Officer, effective January 6, 2025. Cooper joins from Advanced Micro Devices (AMD), where he served as Director of Financial Planning and Analysis, overseeing global planning and budgeting processes since 2017.
Cooper brings 20 years of semiconductor experience, including previous roles at Volex plc as CFO of the Data Division (2015-2016) and various executive finance positions at AMD (2004-2015). His background also includes experience in the medical device industry and public accounting with PricewaterhouseCoopers LLP.
Matt Tenorio, who has served as Interim CFO since July 2024, will temporarily remain as Vice President, Finance to ensure a smooth transition.
Everspin Technologies reported Q3 2024 financial results with revenue of $12.1 million, meeting guidance but down from $16.5 million in Q3 2023. MRAM product sales were $10.4 million, while licensing and royalty revenue was $1.7 million. The company achieved a gross margin of 49.2% and GAAP net income of $2.3 million ($0.10 per diluted share). For Q4 2024, Everspin projects revenue between $12-13 million and GAAP net income per diluted share of $0.00-$0.05.
Everspin Technologies (NASDAQ: MRAM), the leading developer and manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions, has announced its upcoming third quarter 2024 financial results conference call. The company will release its financial results after market close on Wednesday, October 30, 2024.
The conference call will be hosted by Sanjeev Aggarwal, President and Chief Executive Officer, and Matt Tenorio, Interim Chief Financial Officer. The call is scheduled for 5:00 p.m. Eastern Time on the same day. Investors and interested parties can access the webcast of the conference call through the company's investor relations website at https://investor.everspin.com/, where both live and replay options will be available.
Everspin Technologies, Inc. (NASDAQ: MRAM) announced that Lucid Motors will use its PERSYST MRAM in the recently released Gravity SUV. The MR25H256A, a 256Kb serial MRAM, was chosen for its compliance with the AEC Q100 Grade 1 specification, operating at temperatures from -40C to 125C. This MRAM will be used for data logging and parameter storage to enhance the efficient operation of the all-electric powertrain.
Everspin's PERSYST MRAM is also used in the Lucid Air, showcasing its reliability and performance in demanding environments. The PERSYST family offers the highest performing persistent memory in the industry, featuring virtually infinite write endurance, fast write speed, and low read latency. These characteristics make it ideal for handling stringent memory workloads and protecting vital user data, even during power loss or interruption.
Everspin Technologies, Inc. (NASDAQ: MRAM) has been awarded $14.55 million over 2.5 years to develop a long-term plan for providing on-shore MRAM manufacturing services to aerospace and defense industries. The company's PERSYST MRAM manufacturing facilities in Chandler, Arizona will continue to support both current and future Department of Defense (DoD) strategic and commercial space system requirements.
Everspin's CEO, Sanjeev Aggarwal, emphasized the company's commitment to providing continuous on-shore MRAM capability to aerospace and defense customers. The award aims to mitigate risks to Everspin's MRAM manufacturing supply chain, ensuring stable domestic production of MRAM wafers and devices.
Everspin Technologies (NASDAQ: MRAM) has secured a strategic contract with Frontgrade Technologies to provide PERSYST MRAM technology for developing radiation-hardened eMRAM macros. The contract, potentially worth up to $9.25 million over multiple years, supports Department of Defense and commercial space system requirements. The initial phase is valued at $1.25 million.
The project will utilize Skywater RH90 CMOS in Bloomington, Minnesota, and Everspin's back-end-of-line MRAM process in Chandler, Arizona. This collaboration expands MRAM's applications in defense and aerospace radiation-hardened use cases, building on Everspin's decade-long relationship with Frontgrade Technologies.
Everspin Technologies (NASDAQ: MRAM) reported Q2 2024 financial results with revenue of $10.6 million, in line with guidance but down from $15.7 million in Q2 2023. The company experienced a GAAP net loss of $2.5 million, or $0.12 per basic share, compared to net income of $3.9 million in Q2 2023. Gross margin decreased to 49.0% from 58.4% year-over-year.
Despite a slower start to 2024, Everspin sees potential for a stronger second half, supported by design wins for its PERSYST STT-MRAM products. The company ended Q2 with a debt-free balance sheet and generated $1.7 million in cash flow from operations. For Q3 2024, Everspin projects revenue between $11.5-$12.5 million and a GAAP net loss per basic share of $0.05-$0.10.
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