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Mar 31, 2023
Everspin Q1 2023 Earnings Report
Everspin reported solid first quarter results with profits and operational cash flow, while paying off debt.
Key Takeaways
Everspin Technologies reported a revenue of $14.8 million, a 3% increase compared to Q1 2022. The company achieved a net income of $0.8 million, or $0.04 per basic share, and generated cash flows from operating activities of $1.2 million. Everspin also paid off its term loan and line of credit, ending the quarter with $24.2 million in cash and cash equivalents.
Q1'23 revenue reached $14.8 million, at the top end of guidance.
Net income for Q1'23 was $0.8 million, compared to $0.6 million for Q4'22.
Adjusted EBITDA for Q1'23 was $2.3 million, compared to $2.1 million for Q4'22.
Basic EPS for Q1'23 was $0.04 compared to $0.03 in Q4'22.
Forward Guidance
For the second quarter of 2023, Everspin anticipates revenue between $14.5 million and $15.5 million and expects GAAP net income per basic share to be between breakeven and $0.05, influenced by expenses related to next generation 28nm STT-MRAM product development and supplier price increases.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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