Everspin Technologies Earnings Call Transcripts
Fiscal Year 2026
-
Revenue grew 14% year-over-year to $14.9M, driven by strong MRAM product sales and new defense contracts. Gross margin improved to 52.7%, and guidance for Q2 anticipates further revenue growth. Significant investments in capacity and new product launches are underway.
-
Everspin has commercialized both Toggle and STT-MRAM, serving industrial, aerospace, and data center markets with U.S.-based manufacturing and a strong IP portfolio. Growth opportunities include LEO satellites and government partnerships for onshore MRAM production.
Fiscal Year 2025
-
Q4 2025 revenue grew 12% year-over-year to $14.8 million, with strong MRAM product sales and robust design win momentum. High-Reliability MRAM products are gaining traction in aerospace and industrial markets, while memory shortages are driving new opportunities for NOR Flash alternatives.
-
Q3 2025 revenue grew 16% year-over-year to $14.1 million, with strong MRAM product sales and gross margin above 52%. Guidance for Q4 projects continued revenue growth and stable operating expenses, while strategic wins in LEO satellite and automotive markets support future prospects.
-
Everspin is a global leader in MRAM technology, serving mission-critical markets with innovative, high-performance memory products. The company is expanding into the NOR flash replacement market, targeting significant revenue growth and leveraging a strong financial position, diverse customer base, and robust R&D partnerships.
-
MRAM technology is positioned for rapid growth, targeting industrial, automotive, aerospace, and emerging AI markets with a diversified product portfolio and customer base. Recent financial results exceeded expectations, and the company is expanding into higher-density memory to address a $4.3B market by 2029.
-
Q2 2025 revenue reached $13.2M with non-GAAP EPS of $0.03, driven by strong data center and industrial automation demand. Gross margin improved year-over-year, and cash position increased to $45M. Outlook remains positive with growth expected in the second half of 2025.
-
Q1 2025 revenue and non-GAAP EPS exceeded guidance, driven by strong product sales and new design wins in data center, automotive, and aerospace. Gross margin remained above 50%, and cash position improved. Outlook for 2025 is positive, with growth expected in the second half.
Fiscal Year 2024
-
Q4 revenue exceeded expectations at $13.2M, with EPS at $0.05 and strong product and rad-hard project contributions. Full-year revenue declined 21% year-over-year, but design wins and contract awards position the company for a stronger second half of 2025.
-
Q3 2024 revenue was $12.1M, with EPS of $0.10, both meeting or exceeding guidance. New contracts with IBM, Lucid, Frontgrade, and the DOD supported results, while cash rose to $39.6M. Q4 revenue is expected to be flat, with growth anticipated in 2025.
-
Q2 2024 saw revenue and net loss within guidance, with product sales and gross margin down year-over-year due to lower demand and inventory consumption. New design wins, especially in Europe and Asia-Pacific, and a ramp in high-density STT-MRAM are expected to drive growth in the second half of 2024.
-
A leading MRAM supplier highlighted its robust technology, diverse applications, and strong IP portfolio, with plans to launch new high-density products targeting large market opportunities. Profitability has been achieved, and growth is expected to accelerate as new products enter production and foundry partnerships expand.