Press Archive for 2020

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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Everspin Technologies, Inc. (NASDAQ: MRAM), the market leader in MRAM, today announced financial results for the second quarter ended June 30, 2020. 

Second Quarter and Recent Highlights 

• Total revenue increased 37% year-over-year and 17% sequentially to $11.8 million  
• Operating expenses declined 18% over the prior year period
• GAAP loss improved to $1.3 million, or ($0.07) per share, and non-GAAP loss to $0.4 million, or ($0.02), compared to $3.7 million, or ($0.21) per share, and $2.9 million, or ($0.17) per share, respectively, in the second quarter of 2019
• Achieved positive adjusted EBITDA of $0.2 million, compared to a negative ($2.2) million in the year-ago quarter
• Appointed Daniel Berenbaum CFO bringing strong semiconductor finance and Wall Street experience to the executive team 
• Ended quarter with cash and equivalents of $12.9 million

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Everspin will release its second quarter 2020 financial results after market close on Thursday, August 6, 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.

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Everspin announced that Daniel Berenbaum is joining the company as Chief Financial Officer (CFO). Berenbaum will be relocating to Arizona from Singapore and will start at Everspin on July 15^th.

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Everspin announced Kevin Conley, President and CEO, and Matt Tenorio, interim CFO, are scheduled to participate in the Craig-Hallum 17th Annual Institutional Investor Conference, which will be held as a virtual event on May 27, 2020. 

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Everspin announced financial results for the first quarter ended March 31, 2020. 

First Quarter and Recent Highlights 

• Total revenue increased sequentially and year-over-year to $10.1 million, exceeding the high-end of guidance
• Gross margin expanded to 52.9% from 47.7% in the prior year quarter
• GAAP loss improved to ($0.10) per share and non-GAAP loss to ($0.05), compared to ($0.25) and ($0.21), respectively, in year-ago quarter 
• Ended quarter with cash and equivalents of $14.0 million 

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Everspin announced Kevin Conley, President and CEO, and Matt Tenorio, interim CFO, are scheduled to participate in the Oppenheimer 5^th Annual Emerging Growth Conference, which is being held as a virtual event on May 12, 2020.

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Everspin will release its first quarter 2020 financial results after market close on Thursday, May 7, 2020. Kevin Conley, President and CEO, and Matt Tenorio, interim CFO, will host a conference call at 5:00 p.m. Eastern Time to discuss the Company’s financial results.

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