Everspin reports record Q4 revenue $18.2M, net income $3.7M; appoints Sanjeev Aggarwal as CEO

EVERSPIN TECHNOLOGIES INC.

Q4 2021 revenue $18.2M (up 82% YoY), GAAP net income $3.7M ($0.19 EPS) vs loss $1.6M in Q4 2020.
Full year 2021 revenue $55.1M (up 31% YoY), net income $4.3M, adjusted EBITDA $9.6M, cash $21.4M.
Q1 2022 guidance: revenue $13.4-14.2M, GAAP net loss per share ($0.03)-$0.00 due to development costs and supply constraints.
Sanjeev Aggarwal named President and CEO effective March 14, 2022; replaces interim CEO Darin Billerbeck who remains Executive Chairman.
CFO Anuj Aggarwal gets base salary increase to $330k, annual bonus target 65%, and equity grants including 57,000 RSUs.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Sanjeev Aggarwal

President and Chief Executive Officer

MRAM · EVERSPIN TECHNOLOGIES INC.

Effective: 2022-03-14
Filed: March 2, 2022, 6:59 PM ET

On February 28, 2022, the Company’s Board of Directors (the “Board”) appointed Sanjeev Aggarwal as the Company’s President and Chief Executive Officer, effective March 14, 2022.

Appointed

Sanjeev Aggarwal

Director

MRAM · EVERSPIN TECHNOLOGIES INC.

Effective: 2022-03-14
Filed: March 2, 2022, 6:59 PM ET

On February 28, 2022, the Board also elected Mr. S. Aggarwal as a member of the Board, effective March 14, 2022.

Role change

Darin Billerbeck

Interim Chief Executive Officer

MRAM · EVERSPIN TECHNOLOGIES INC.

Effective: 2022-03-14
Successor: Sanjeev Aggarwal
Filed: March 2, 2022, 6:59 PM ET

Effective March 14, 2022, Mr. Billerbeck will resign as the Company’s Interim Chief Executive Officer and will continue to serve as the Company’s Executive Chairman of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Sanjeev Aggarwal was appointed as President and Chief Executive Officer at EVERSPIN TECHNOLOGIES INC..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On February 28, 2022, the Company’s Board of Directors (the “Board”) appointed Sanjeev Aggarwal as the Company’s President and Chief Executive Officer, effective March 14, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Sanjeev Aggarwal was elected as Director at EVERSPIN TECHNOLOGIES INC..

Action: elected
Role: Director

Exact text from the filing

On February 28, 2022, the Board also elected Mr. S. Aggarwal as a member of the Board, effective March 14, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Darin Billerbeck resigned as Interim Chief Executive Officer at EVERSPIN TECHNOLOGIES INC..

Action: resigned
Role: Interim Chief Executive Officer

Exact text from the filing

Effective March 14, 2022, Mr. Billerbeck will resign as the Company’s Interim Chief Executive Officer and will continue to serve as the Company’s Executive Chairman of the Board.

View on SEC.gov

EVERSPIN TECHNOLOGIES INC. filing history →

Source: SEC EDGAR

accession 0001104659-22-029376

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.