secwatch.observer — SEC 8-K summary
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Issuer:     EVERSPIN TECHNOLOGIES INC. (MRAM)
CIK:        0001438423
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001558370-23-007827
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1438423/000155837023007827/0001558370-23-007827-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1438423/000155837023007827/mram-20230503x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-007827

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