Everspin Reports Fourth Quarter and Fiscal Year 2019 Financial Results
Everspin announced financial results for the fourth quarter ended December 31, 2019.
Fourth Quarter and Recent Highlights
- Fourth quarter total revenue of $9.7 million was up 5% sequentially and at the high-end of guidance
- Ended year with cash and equivalents of $14.5 million
- Implemented restructuring to accelerate path to profitability
- Achieved second data center OEM qualification of 1Gb STT-MRAM
- Announced development of STT-MRAM for Industrial and IoT applications
- Signed joint development agreement extension with GLOBALFOUNDRIES for development of 12nm MRAM