Everspin Q2 revenue $15.7M beats guidance; net income $3.9M, 9th consecutive profitable quarter

EVERSPIN TECHNOLOGIES INC.

2023-Q2 EPS reported $0.22 revenue$30,593,000

Revenue $15.7M, above high end of guidance; up 6% QoQ and 7% YoY.
GAAP net income $3.9M ($0.19 basic EPS) vs $0.8M in Q1'23; includes $2.0M one-time ERTC.
Adjusted EBITDA $5.4M; operating cash flow $6.3M; cash balance $30.8M up from $24.2M.
Q3'23 guidance: revenue $15.4M-$16.4M, EPS $0.01-$0.06 per basic share.
CEO highlights radiation hard programs and new xSPI low-density STT-MRAM in low-volume production.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

EVERSPIN TECHNOLOGIES INC. reported second quarter ended June 30, 2023 results: revenue $15.7 million, net income $3.9 million, EPS $0.19 per basic share. Guidance reaffirmed.

Period: second quarter ended June 30, 2023
Revenue: $15.7 million
Net income: $3.9 million
EPS: $0.19 per basic share
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

preliminary unaudited financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights · Q2’23 revenue exceeded the top end of guidance at $15.7 million. · The company reported net income of $3.9 million for Q2’23 compared to $0.8 million for Q1’23. · Adjusted EBITDA for Q2’23 was $5.4 million compared to $2.3 million for Q1’23.

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Source: SEC EDGAR

accession 0001558370-23-012907

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