Everspin Q1 revenue $14.8M, net income $0.8M; guides Q2 rev $14.5-15.5M

EVERSPIN TECHNOLOGIES INC.

2023-Q1 EPS reported $0.04 revenue$14,846,000

Q1 2023 revenue $14.8M (top end of guidance), up 3% YoY from $14.3M; MRAM product sales $13.8M, up 9% YoY.
GAAP net income $0.8M ($0.04 basic EPS) versus $0.6M in Q4 2022 and $1.9M in Q1 2022; 8th consecutive profit.
Adjusted EBITDA $2.3M; operating cash flow $1.2M; paid off term loan and line of credit; cash $24.2M.
Q2 2023 guidance: revenue $14.5M to $15.5M; GAAP EPS between breakeven and $0.05, impacted by 28nm STT-MRAM development costs.
New xSPI STT-MRAM family won Best in Show (Memory) at Embedded World 2023; customer evaluation interest cited.

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 ended March 31, 2023 results: revenue $14.8 million, net income $0.8 million, EPS $0.04 per basic share. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $14.8 million
Net income: $0.8 million
EPS: $0.04 per basic share
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

announced preliminary unaudited financial results for the first quarter ended March 31, 2023. First Quarter 2023 Highlights ● Q1’23 revenue came in at the top end of guidance at $14.8 million. ● The company reported net income of $0.8 million for Q1’23, compared to $0.6 million for Q4’22. ● Adjusted EBITDA for Q1’23 was $2.3 million, compared to $2.1 million for

View on SEC.gov

Browse all earnings releases →

EVERSPIN TECHNOLOGIES INC. filing history →

Source: SEC EDGAR

accession 0001558370-23-007827

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.