Everspin reports record FY2022 revenue of $60.0M, net income up 41% to $6.1M

EVERSPIN TECHNOLOGIES INC.

2022-FY EPS reported $0.29 revenue$59,985,000

FY2022 revenue $60.0M (+9% YoY); Q4 revenue $15.7M (+3% QoQ).
FY2022 GAAP net income $6.1M ($0.30 basic EPS) vs $4.3M ($0.22) in 2021.
Adjusted EBITDA for 2022 improved to $11.8M from $9.6M in 2021.
Cash and equivalents $26.8M at Q4 end, up from $21.4M at FY2021 end.
Q1 2023 guidance: revenue $14.1M-$14.8M; GAAP EPS breakeven to $0.05.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

EVERSPIN TECHNOLOGIES INC. reported the first quarter of 2023 results: revenue $14.1 million to $14.8 million, net income between breakeven and $0.05 per basic share. Guidance initiated.

Period: the first quarter of 2023
Revenue: $14.1 million to $14.8 million
Net income: between breakeven and $0.05 per basic share
Guidance: initiated
Result: guidance update

Exact text from the filing

Business Outlook For the first quarter 2023, Everspin is confident in its future opportunities and ability to navigate macroeconomic challenges. Everspin expects total revenue in a range of $14.1 million to $14.8 million. Everspin expects GAAP net income per basic share to be between breakeven and $0.05

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

EVERSPIN TECHNOLOGIES INC. reported the full year ended December 31, 2022 results: revenue $60.0 million, net income $6.1 million, EPS $0.30. Guidance initiated.

Period: the full year ended December 31, 2022
Revenue: $60.0 million
Net income: $6.1 million
EPS: $0.30
Guidance: initiated
Result: preliminary results

Exact text from the filing

● 2022 full year revenue increased $4.9 million, or 9%, to $60.0 million from $55.1 million in the prior year. ● Q4’22 revenue increased $0.5 million, or 3%, to $15.7 million from $15.2 million for Q3’22. ● Everspin reported record net income for 2022 of $6.1 million, this is an increase of $1.8 million, or 41% from net income for 2021 of $4.3 million. ● Adjusted EBITDA for 2022 improved to $11.8 million, compared to $9.6 million for 2021. ● Basic EPS for 2022 was $0.30 compared to $0.22 in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

EVERSPIN TECHNOLOGIES INC. reported the fourth quarter ended December 31, 2022 results: revenue $15.7 million, net income $0.6 million, EPS $0.03 per basic share. Guidance initiated.

Period: the fourth quarter ended December 31, 2022
Revenue: $15.7 million
Net income: $0.6 million
EPS: $0.03 per basic share
Guidance: initiated
Result: preliminary results

Exact text from the filing

Total revenue for the fourth quarter of 2022 was $15.7 million, an increase of 3% from the $15.2 million reported in the third quarter of 2022. This is compared to $18.2 million of revenue in the fourth quarter of 2021 that was driven by $4.0 million recognized as revenue in the fourth quarter 2021 related to a one-time patent sale. MRAM product sales in the fourth quarter of 2022, which includes both Toggle and STT-MRAM revenue, was $14.6 million in the fourth quarter of 2022, and remained consistent with the third quarter of 2022. This is an increase of 15% compared to $12.6 million in the fourth quarter of 2021. Licensing, Royalties, Patents and Other revenue in the fourth quarter of 2022 was $1.1 million compared to $0.7 million in the third quarter of 2022 and $5.6 million in the fourth quarter of 2021. The increase in total revenue for the fourth quarter of 2022 compared to the third quarter of 2022 was due to strong toggle demand and sales along with $0.3 million in revenue from

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Source: SEC EDGAR

accession 0001558370-23-002582

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