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NEWS

Everspin Reports Unaudited First Quarter 2022 Financial Results

CHANDLER, Ariz.--(BUSINESS WIRE)--May 11, 2022-- Everspin Technologies, Inc. (NASDAQ: MRAM), the market leader in MRAM, today announced preliminary unaudited financial results for the first quarter ended March 31, 2022.

First Quarter 2022 Highlights

  • Q1’22 revenue increased $4.0 million, or 39%, to $14.3 million from $10.3 million for Q1’21.

  • The Company reported net income of $1.9 million for Q1’22, compared to a net loss of $0.5 million for Q1’21.

  • Adjusted EBITDA for Q1’22 improved to $3.1 million, compared to $0.8 million for Q1’21.

  • Basic EPS for Q1’22 was $0.10 compared to a net loss per share of $0.02 for Q1’21.

For more information go to https://investor.everspin.com/news-releases/news-release-details/everspin-reports-unaudited-first-quarter-2022-financial-results