Everspin Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 09, 2022 at 04:14 pm EST
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Everspin Technologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 15.24 million compared to USD 14.8 million a year ago. Net income was USD 1.91 million compared to USD 0.88 million a year ago. Basic earnings per share from continuing operations was USD 0.09 compared to USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.09 compared to USD 0.04 a year ago.
For the nine months, revenue was USD 44.3 million compared to USD 36.92 million a year ago. Net income was USD 5.51 million compared to USD 0.676 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.27 compared to USD 0.03 a year ago.
Everspin Technologies, Inc. is engaged in providing magneto resistive random-access memory (MRAM) solutions. The Company's MRAM solutions offer non-volatile memory with the speed and endurance of random-access memory (RAM) and enable the protection of mission-critical data, particularly in the event of a power interruption or failure. Its portfolio of MRAM technologies includes Toggle MRAM and Spin-transfer Torque MRAM (STT-MRAM). Toggle MRAM products include industry standard interfaces, including Parallel, Serial Peripheral Interface (SPI) and Quad SPI (QSPI) interfaces. Its STT-MRAM technology delivers products in dynamic random-access memory (DRAM), SRAM and NOR Flash applications. It offers its products with DDR3 and DDR4 derivative interfaces, facilitating the replacement of battery-backed DRAM with STT-MRAM. Its 3D Tunnel Magneto Resistance (TMR) sensors provide high magnetic sensitivity in a single component that performs 3D magnetic field measurements in a monolithic solution.