Everspin posts first GAAP net income quarter: Q2 net income $256k, revenue $11.85M

EVERSPIN TECHNOLOGIES INC.

2021-Q2 EPS reported -$0.01 revenue$22,128,000

Q2 2021 revenue $11.85M, up 15% QoQ from $10.28M, flat YoY vs $11.83M.
First GAAP net income in company history: $256k ($0.01 EPS), vs net loss of $460k in Q1 and $1.3M loss in Q2 2020.
Gross margin expanded to 60.7%, up from 58.2% QoQ and 43.9% YoY.
Cash and equivalents $14.2M at June 30, 2021, down from $15.5M at Q1 end.
Q3 2021 guidance: revenue $11.7M–$12.7M; GAAP net loss per share ($0.04)–($0.07).

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