secwatch.observer — SEC 8-K summary
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Issuer:     EVERSPIN TECHNOLOGIES INC. (MRAM)
CIK:        0001438423
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001558370-23-012907
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1438423/000155837023012907/0001558370-23-012907-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1438423/000155837023012907/mram-20230802x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-012907

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