Everspin Q2 revenue $10.6M (-32% YoY); GAAP net loss $0.12/share vs prior income $0.18

EVERSPIN TECHNOLOGIES INC.

2024-Q2 EPS reported -$0.13 revenue$25,066,000

Total revenue $10.6M vs $15.7M YoY; MRAM product sales $9.9M vs $13.4M.
GAAP net loss $2.5M ($0.12 basic loss) vs net income $3.9M ($0.18 diluted) in Q2 2023.
Gross margin fell to 49.0% from 58.4% YoY; adjusted EBITDA loss $0.2M vs $5.4M.
Q3 guidance: revenue $11.5-12.5M; GAAP net loss $0.05-0.10 per basic share.
Management expects stronger H2 driven by STT-MRAM design wins in Europe and Asia.

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