secwatch.observer — SEC 8-K summary
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Issuer:     EVERSPIN TECHNOLOGIES INC. (MRAM)
CIK:        0001438423
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001558370-24-006390
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1438423/000155837024006390/0001558370-24-006390-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1438423/000155837024006390/mram-20240501x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-006390

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