Everspin Q1 net loss $0.2M vs prior net income; Q2 rev guidance $10-11M

EVERSPIN TECHNOLOGIES INC.

2024-Q1 EPS reported -$0.01 revenue$14,430,000

Revenue $14.4M near high end of guidance; down from $14.8M YoY; MRAM product sales $10.9M (-21% YoY).
GAAP net loss $0.2M ($0.01 loss per share) vs net income $0.8M ($0.04 EPS) in Q1 2023.
Adjusted EBITDA $1.9M, down from $2.3M YoY; gross margin 56.5% vs 56.8%.
Q2 2024 guidance: revenue $10-11M and GAAP net loss per share $(0.14) to $(0.09).
CEO highlighted design wins with IBM for STT-MRAM in FlashCore Module and foundry services agreement.

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. reported first quarter ended March 31, 2024 results: revenue $14.4 million, net income GAAP net loss of $0.2 million, or $(0.01) per diluted share, EPS $(0.01) per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $14.4 million
Net income: GAAP net loss of $0.2 million, or $(0.01) per diluted share
EPS: $(0.01) per diluted share
Result: preliminary results

Exact text from the filing

expressly set forth by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- Everspin Reports Unaudited First Quarter 2024 Financial Results Q1’24 revenue of $14.4 million near high end of guidance range Chandler, AZ, May 1, 2024 — Everspin Technologies, Inc. (NASDAQ: MRAM), the world’s leading developer and manufacturer of magnetoresistive

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Source: SEC EDGAR

accession 0001558370-24-006390

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