News Stories and Press Releases

Everspin Technologies, Inc. has announced that Rimac Technology has selected its 256 Kilobit MRAM for use in the innovative all-electric Nevera hypercar, an elite sports vehicle produced by sister company Bugatti-Rimac. “The robustness of the Everspin MRAM has given Rimac the confidence needed to adopt it in the highest performance all-electric hypercar in the world. “, said Marin Vidas, Embedded Hardware Development Manager of Rimac Technology. “We are pleased to see Everspin become a trusted supplier as we launch the Nevera model.”

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Everspin is working to build a Trusted manufacturing line in the state of Indiana which would add capacity for Everspin’s Commercial MRAM and increase its capability to act as a foundry for the manufacture of Toggle and STT-MRAM.  Everspin plans to work with the local research community to enhance domestic research for MRAM technology development, creating a Technology Development Center at the proposed Indiana-based location.

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San Jose, Calif. (November 1, 2022) - Everspin Technologies, Inc. is pleased to announce that they have become a member of Global Semiconductor Alliance (GSA), the voice of the global semiconductor industry.

“We are excited to become a member of GSA and look forward to collaborating with industry leaders to support our mutual missions of growth and innovation.” said Sanjeev Aggarwal, President and CEO, Everspin Technologies Inc., “Innovation has been the driver of our successful commercialization of MRAM technology, and we believe that by working with GSA we will foster even broader adoption.”

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Everspin Technologies, Inc. has signed a contract to provide MRAM technology, design, and back end of line manufacturing services with QuickLogic Corporation.  The initial award is potentially valued at $2.8M, with subsequent options bringing the total to approximately $8.7M.  This is part of an award to develop and demonstrate Strategic Radiation Hardened (SRH), high reliability Field Programmable Gate Array (FPGA) technology to support identified and future Department of Defense (DoD) strategic and space system requirements. This project is sponsored by DoD’s Trusted and Assured Microelectronics (T&AM) Program.

Everspin MRAM IP and technology have been utilized for over 10 years in strategic radiation hardened and space applications.  Everspin will extend its traditional market of discrete MRAM designs by collaborating with QuickLogic and integrating MRAM directly into the FPGA product. “Spin-transfer Torque MRAM technology is an ideal candidate for radiation hard FPGA devices due to its persistence and inherent radiation immunity, said Sanjeev Aggarwal, President & CEO of Everspin. “We are excited to work with the other partners on this program to develop reconfigurable, FPGA technology for use in harsh environments.”

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Everspin says that the new EMxxLX family offers the world's highest performance persistent memory with full read and write bandwidth of 400 Megabytes per second through the new JEDEC expanded Serial Peripheral Interface (xSPI) standard interface.

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Everspin announced the appointment of Sanjeev Aggarwal as Everspin’s President and Chief Executive Officer (CEO), effective March 14, 2022.  Effective on such date, Darin Billerbeck, Everspin’s Executive Chairman of the Board and Interim CEO will resign as Interim CEO and will continue to serve as Executive Chairman of the Board.  Mr. Aggarwal is also being elected as a member of Everspin’s board of directors, effective March 14, 2022.

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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. 

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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. 

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Everspin has announced that Lucid Motors has designed-in its 256 Kilobit MRAM into the master powertrain system of its innovative Lucid Air all-electric luxury sedan.

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Everspin today announced financial results for the first fiscal quarter of 2021.

First Quarter 2021 Highlights 

• Q1’21 revenue increased 1.7% year-over-year to $10.3 million  
• Q1’21 GAAP net loss per share of ($0.02) was a significant improvement over both the prior quarter and year-ago periods
• Generated $1.6 million cash flow from operations in Q1’21, the third consecutive quarter with positive cash flow from operations
• Ended Q1’21 with cash and equivalents of $15.5 million

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