Everspin Technologies reported Q1 2021 financial results with a total revenue of $10.3 million, a GAAP gross margin of 58.2%, and a GAAP net loss of $0.5 million, or ($0.02) per share. The company signed contracts related to a U.S. Government RAD-Hard program and received a $3 million up-front payment.
Total revenue for Q1 2021 was $10.3 million, compared to $10.1 million in Q1 2020.
GAAP gross margin for Q1 2021 was 58.2%, compared to 52.9% in Q1 2020.
GAAP net loss for Q1 2021 was $0.5 million, or ($0.02) per share, compared to a GAAP net loss of $1.7 million, or ($0.10) per share, in Q1 2020.
Adjusted EBITDA for Q1 2021 was $0.8 million, compared to negative ($0.3) million in the prior year period.
For the second quarter of 2021, Everspin expects total revenue in a range between $11 million and $12 million. GAAP net loss per share is expected to range between ($0.11) and ($0.07) per share, which reflects expected stock-based compensation expense of approximately $0.8 million.
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