News Stories and Press Releases

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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Everspin will release its first quarter 2021 financial results after market close on Thursday, May 6, 2021. Darin Billerbeck, Executive Chairman and Interim CEO, will host a conference call at 5:30 p.m. Eastern Time to discuss the Company’s financial results.

The conference call will be broadcast live in listen-only mode on the investor relations website at investor.everspin.com.

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Everspin today announced preliminary unaudited financial results for the fourth fiscal quarter and full year ended December 31, 2020. 

Fourth Quarter and Full Year 2020 Highlights 

• 2020 revenue increased 12.1% year-over-year to $42.0 million  
• Q4’20 GAAP net loss per share of ($0.08) was a significant improvement over both the prior quarter and year-ago periods
• Generated $0.6 million cash flow from operations in Q4’20, the second consecutive quarter with positive cash flow from operations
• Ended 2020 with cash and equivalents of $14.6 million
• First royalty revenue from GLOBALFOUNDRIES for embedded MRAM on their 22FDX process in Q4

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Everspin today announced that Sanjeev Aggarwal has been appointed to the newly created role of Chief Technology Officer (CTO). Sanjeev will also continue to serve as Vice President, Technology Research and Development.

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Everspin announced that Kevin Conley has notified the company of his decision to resign as President and CEO and as a member of Everspin’s Board of Directors, effective January 30, 2021. Darin Billerbeck, currently non-executive Chairman of the Board, will become interim CEO, effective January 30, 2021, and has also been appointed as Executive Chairman of the Board, effective December 9, 2020.

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Everspin announced financial results for the third quarter ended September 30, 2020. 

Third Quarter Highlights 

• Total revenue increased 10.3% year-over-year to $10.1 million  
• Operating expenses declined 24% over the prior year period 
• GAAP net loss per share remained flat at ($0.21) compared to the third quarter of 2019
• Generated $0.7 million cash flow from operations
• Ended quarter with cash and equivalents of $13.9 million

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Everspin will release its third quarter 2020 financial results after market close on Thursday, November 5, 2020. Kevin Conley, President and CEO, and Daniel Berenbaum, CFO, will host a conference call at 5:00 p.m. Eastern Time to discuss the Company’s financial results.

The conference call will be broadcast live in listen-only mode on the investor relations website at investor.everspin.com.

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