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Everspin Reports First Quarter 2018 Financial Results

2018-05-14 09:48:45

Chandler, AZ, May 9, 2018 — Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading developer and manufacturer of discrete and embedded MRAM, today announced financial results for the first quarter ended March 31, 2018. 

First Quarter Highlights 

  • Record total revenue of $14.9 million, including $5.5 million of licensing, royalty, and other revenue
  • Gross margin for the quarter was a record 67%, primarily driven by licensing revenue
  • Everspin’s partner, SMART Modular Technologies, completed product qualification and began shipping its nvNITRO accelerator card featuring MRAM technology
  • Ended the quarter with cash balance of $33.9 million, compared to $13.0 million last quarter, reflecting the successful secondary offering in February 
Keywords:  everspin

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