Everspin | The MRAM Company

Everspin announced preliminary unaudited financial results for the third fiscal quarter of 2021.

Q3’21 revenue increased 25% and $2.9 million from $11.9 million in the prior quarter to $14.8 million. This is an increase of 46.5% compared to $10.1 million of revenue in Q3’20.
The Company reported record net income of $880k for Q3’21, resulting in year-to-date net income for FY2021 of $676k. This is compared to a net loss reported of $3.9 million for Q3’20, with a prior year-to-date net loss of $6.9 million for the nine months ended September 30, 2020.
Ended Q3’21 with cash and equivalents of $14.6 million; which is an increase from $14.2 million reported in the prior quarter.

Everspin Technologies, Inc. announced financial results for the second fiscal quarter of 2021.

Second Quarter 2021 Highlights

Q2’21 revenue increased 15% from the prior quarter to $11.85 million; this was an increase of $1.57 million compared to Q1’21 revenue. Q2’21 revenue was relatively flat to Q2’20 Revenue of $11.83 million.
The Company reported net income of $256k for Q2’21, compared to a net loss of $460k for Q1’21 and a net loss of $1.3 million for Q2’20.
Ended Q2’21 with cash and equivalents of $14.2 million.