Chandler, AZ, May 9, 2018 — Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading developer and manufacturer of discrete and embedded MRAM, today announced financial results for the first quarter ended March 31, 2018.
First Quarter Highlights
- Record total revenue of $14.9 million, including $5.5 million of licensing, royalty, and other revenue
- Gross margin for the quarter was a record 67%, primarily driven by licensing revenue
- Everspin’s partner, SMART Modular Technologies, completed product qualification and began shipping its nvNITRO accelerator card featuring MRAM technology
- Ended the quarter with cash balance of $33.9 million, compared to $13.0 million last quarter, reflecting the successful secondary offering in February