secwatch.observer — SEC 8-K summary
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Issuer:     EVERSPIN TECHNOLOGIES INC. (MRAM)
CIK:        0001438423
Form:       8-K
Filed at:   2022-03-02T23:59:59+00:00
Accession:  0001104659-22-029376
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1438423/000110465922029376/0001104659-22-029376-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1438423/000110465922029376/tm228006d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-029376

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer