November 11, 2021
Everspin announced preliminary unaudited financial results for the third fiscal quarter of 2021.
Third Quarter 2021 Highlights
- 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.