---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-006390"
form_type: "8-K"
ticker: "MRAM"
cik: "0001438423"
company_name: "EVERSPIN TECHNOLOGIES INC."
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T02:39:17.469420+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-24-006390
- form_type: 8-K
- ticker: MRAM
- cik: 0001438423
- company_name: EVERSPIN TECHNOLOGIES INC.
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1438423/000155837024006390/0001558370-24-006390-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1438423/000155837024006390/mram-20240501x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-006390
- JSON: https://secwatch.observer/filing/0001558370-24-006390.json
- Plain text: https://secwatch.observer/filing/0001558370-24-006390.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1438423/000155837024006390/0001558370-24-006390-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.