Everspin Q4 revenue $16.7M, EPS $0.09 beat; FY2023 record rev $63.8M, net income $9.1M

EVERSPIN TECHNOLOGIES INC.

2023-FY EPS reported $0.42 revenue$63,765,000

Q4 revenue $16.7M (+6% YoY), GAAP EPS $0.09; FY revenue $63.8M, net income $9.1M, EPS $0.42.
MRAM product sales Q4 $12.4M (down from $14.6M YoY) but licensing revenue surged to $4.3M from $1.1M.
Gross margin expanded to 58.1% Q4 (FY 58.4%); adjusted EBITDA $3.6M Q4, $15.3M FY.
Record cash $36.9M, no debt; 11th consecutive profitable quarter; 217 design wins in 2023.
Q1 2024 guidance: revenue $13.5-14.5M, EPS breakeven to $0.05 per diluted share.

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 0.9

EVERSPIN TECHNOLOGIES INC. updated its the fourth quarter and full year ended December 31, 2023 guidance (reaffirmed).

Period: the fourth quarter and full year ended December 31, 2023
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

On February 28, 2024, Everspin Technologies, Inc. issued a press release announcing its financial results for the quarter and year ended December 31, 2023, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

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Source: SEC EDGAR

accession 0001558370-24-002001

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