Everspin Reports Unaudited Fourth Quarter and Full Year 2024 Financial Results

About this update from Everspin Technologies, Inc.

CHANDLER, Ariz., February 26, 2025--(BUSINESS WIRE)--Everspin Technologies, Inc. (NASDAQ: MRAM), the world’s leading developer and manufacturer of magnetoresistive random access memory (MRAM) persistent memory solutions, today announced preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2024. "We are pleased to report fourth quarter results with revenue above our expectations and earnings per share at the high end of our guidance range," said Sanjeev Aggarwal, President and Chief Executive Officer. "We had a total of 178 design wins in 2024 and we are excited about the opportunities ahead of us to expand our reach in the NOR flash, SRAM and storage markets." Fourth Quarter 2024 Results Full Year 2024 Results "Our solid results this quarter were driven by strength in our product revenue and RAD-Hard projects," said Bill Cooper, Everspin’s Chief Financial Officer. "Our balance sheet remains strong and we remain committed to maintaining financial discipline while scaling our business and converting additional design wins to revenue." Business Outlook For the first quarter 2025, Everspin expects total revenue in a range of $12 million to $13 million and GAAP net loss per basic share to be between $(0.10) and $(0.05). Non-GAAP net (loss) income per basic share is anticipated to be between $(0.05) and $0.00. A reconciliation of non-GAAP guidance measures to corresponding GAAP guidance measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. Stock-based compensation-related charges are impacted by the timing of employee stock transactions, the future fair market value of Everspin’s common stock, and Everspin’s future hiring and retention needs, all of which are difficult to predict and subject to constant change. These factors could be material to Everspin’s results computed in accordance with GAAP. This outlook is dependent on Everspin's current expectations, which may be impacted by, among other things, evolving external conditions, such as public health-related events or outbreaks, local safety guidelines, worsening impacts due to supply chain constraints or interruptions, including recent market volatility, semiconductor downturn and th...

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