Everspin Technol Stock Price, News & Analysis

Everspin Technologies, Inc. (NASDAQ: MRAM) announced its preliminary financial results for Q2 2022, reporting a revenue increase of 24% year-on-year to $14.7 million. This marks a 3% rise from Q1 2022. Net income stood at $1.7 million, slightly down from $1.9 million in Q1 2022 but up from $0.3 million in Q2 2021. Adjusted EBITDA improved to $3.3 million. The gross margin was 58.4%, down from 60.7% in Q2 2021 due to supplier price increases. Everspin projects Q3 2022 revenue between $14.4 million and $15.4 million, acknowledging potential supply constraints.

Everspin Technologies (NASDAQ:MRAM) has introduced its high-density STT-MRAM product, the EM128LX, featuring a capacity of 128 Megabits—double that of its predecessor. This latest offering supports the xSPI standard and boasts read/write speeds of up to 233 megabytes/second. The EM128LX is designed for FPGA system designers, enabling fast configuration and updates in AI applications. Customer samples are currently available, with volume production expected to commence in early 2023.

Everspin Technologies (NASDAQ: MRAM) is set to release its second quarter 2022 financial results on Thursday, August 11, 2022, after market close. The company's President and CEO, Sanjeev Aggarwal, along with CFO Anuj Aggarwal, will host a conference call at 5:00 p.m. Eastern Time to discuss these results. Participants can pre-register for the call and access a live broadcast via the company's investor relations website.

Everspin Technologies, a leader in Magnetoresistive non-volatile memory (MRAM), will present a joint demo board with Menta at the Embedded World trade fair in Nuremberg, Germany, from June 21-23. This collaboration showcases Everspin's new EMxxLX STT-MRAM, known for its ten-year data retention and high performance at industrial temperatures. The event will facilitate networking with over 1,000 exhibitors and 30,000 visitors from various sectors, highlighting significant advancements in edge computing and embedded electronics.

Everspin Technologies, Inc. (NASDAQ:MRAM) is set to showcase its latest STT-MRAM, the EMxxLX series, at Embedded World 2022 in Nuremberg, Germany from June 21-23. The EMxxLX series promises a remarkable 400 MB/s read and write bandwidth and supports the Expanded SPI interface. CEO Sanjeev Aggarwal will present on June 21 at 11 am CEST, discussing applications in the IoT and FPGA market. Live demos will highlight improvements in areas such as machine learning and industrial controls. Attendees are encouraged to visit booth 3A-203 for insights and interactive presentations.

Everspin Technologies (NASDAQ: MRAM) announced its preliminary unaudited financial results for Q1 2022, reporting a 39% revenue increase to $14.3 million compared to $10.3 million in Q1 2021. The company achieved net income of $1.9 million, compared to a net loss of $0.5 million in the prior year. Adjusted EBITDA rose to $3.1 million, up from $0.8 million. However, revenue fell 21% from Q4 2021, mainly due to a one-time IP monetization deal. Looking ahead, Everspin expects Q2 2022 revenue between $13.6 million and $14.6 million, facing supply constraints that may impact fulfillment.

Everspin Technologies (NASDAQ: MRAM) has commenced customer sampling of its new EMxxLX MRAM product family, which boasts the highest performance persistent memory at 400 MB/s. Designed for industrial IoT and embedded systems, these products range from 8Mbit to 64Mbit in density. Everspin's proprietary Spin-transfer Torque MRAM technology offers 10-year data retention and virtually unlimited write endurance across a temperature range from -40°C to +85°C. Volume production is anticipated in the second half of 2022.

Everspin Technologies, Inc. (NASDAQ: MRAM) will announce its first quarter 2022 financial results on May 11, 2022, after market close. The conference call, led by CEO Sanjeev Aggarwal and CFO Anuj Aggarwal, is scheduled for 5:00 p.m. Eastern Time on the same day. Interested parties can join via a teleconference or listen live on the investor relations website. A replay will be available until May 18, 2022. Everspin is known for its advanced non-volatile memory solutions for critical applications in industries like Industrial IoT and Data Centers.

Everspin Technologies, Inc. (NASDAQ: MRAM) has appointed Sanjeev Aggarwal as President and CEO, effective March 14, 2022. Previously, Darin Billerbeck served as Interim CEO and will continue as Executive Chairman. Aggarwal, who has been with Everspin since its founding in 2008, has extensive experience in the non-volatile memory sector and will focus on expanding product offerings and improving cash flow. This leadership change aims to bolster the company’s strategy and operational execution.