Everspin Technologies Inc
NASDAQ:MRAM
Everspin Technologies Inc
Everspin Technologies, Inc. engages in the provision of magnetoresistive random access memory (MRAM) solutions. The company is headquartered in Chandler, Arizona and currently employs 75 full-time employees. The company went IPO on 2016-10-07. The Company’s MRAM solutions offer non-volatile memory with the speed and endurance of random access memory (RAM) and enable the protection of critical data, particularly in the event of power interruption or failure. Its products include Toggle MRAM, offers products with industry standard interfaces, including Parallel, Serial Peripheral Interface (SPI) and Quad SPI (QSPI) interfaces; Spin-transfer Torque MRAM (STT-MRAM), offer products with standard DDR3 and DDR4 derivative interfaces; and Tunnel Magneto Resistance (TMR) Sensors, offers die-level devices integrated into consumer electronic applications that utilize a three-dimensional (3D) compass function. The company serves various markets, such as medical, automotive/transportation, aerospace, and data center. The firm sells its products directly and through its distribution channels to original equipment manufacturers (OEMs).
Everspin Technologies, Inc. engages in the provision of magnetoresistive random access memory (MRAM) solutions. The company is headquartered in Chandler, Arizona and currently employs 75 full-time employees. The company went IPO on 2016-10-07. The Company’s MRAM solutions offer non-volatile memory with the speed and endurance of random access memory (RAM) and enable the protection of critical data, particularly in the event of power interruption or failure. Its products include Toggle MRAM, offers products with industry standard interfaces, including Parallel, Serial Peripheral Interface (SPI) and Quad SPI (QSPI) interfaces; Spin-transfer Torque MRAM (STT-MRAM), offer products with standard DDR3 and DDR4 derivative interfaces; and Tunnel Magneto Resistance (TMR) Sensors, offers die-level devices integrated into consumer electronic applications that utilize a three-dimensional (3D) compass function. The company serves various markets, such as medical, automotive/transportation, aerospace, and data center. The firm sells its products directly and through its distribution channels to original equipment manufacturers (OEMs).
Revenue: Everspin reported Q3 revenue of $14.1 million, up 16% year-over-year and in line with its guidance.
Profitability: Non-GAAP EPS was $0.06, towards the high end of guidance; GAAP gross margin improved to 51.3%.
Product Strength: Growth was driven by strong sales in LEO satellite, casino gaming, energy management, and data center applications.
Licensing Revenue: Licensing, royalty, patent and other revenue decreased year-over-year due to project completions; management expects this segment to remain around the 10% range of total revenue.
Cash Position: Ended the quarter with $45.3 million in cash and cash equivalents and remains debt-free.
Q4 Outlook: Guidance for Q4 revenue is $14 million to $15 million, with GAAP EPS expected between $0.02 and $0.07 per share.
