secwatch.observer — SEC 8-K summary
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Issuer:     EVERSPIN TECHNOLOGIES INC. (MRAM)
CIK:        0001438423
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001558370-24-010474
Event type: earnings
Sentiment:  negative
Materiality: 0.72
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1438423/000155837024010474/0001558370-24-010474-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1438423/000155837024010474/mram-20240731x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-010474

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