Everspin Q3 revenue $12.1M in-line, EPS $0.10 beats guidance; Q4 revenue guidance $12M-$13M

EVERSPIN TECHNOLOGIES INC.

2024-Q3 EPS reported -$0.02 revenue$37,159,000

Q3 2024 revenue $12.1M (down 27% YoY from $16.5M); GAAP EPS $0.10 exceeded guidance.
MRAM product sales $10.4M (vs $13.5M); licensing/other revenue $1.7M (vs $2.9M).
Gross margin 49.2% (down from 60.2%); GAAP net income $2.3M vs $2.4M YoY.
Adjusted EBITDA $4.2M (vs $4.0M); Q4 guidance revenue $12M-$13M, GAAP EPS $0.00-$0.05.
New contracts won in Q3; PERSYST xSPI STT-MRAM revenue expected in 2025+.

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