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Mar 31, 2024
Everspin Q1 2024 Earnings Report
Everspin's Q1 2024 financial results were announced with revenue near the high end of guidance, but net income below expectations.
Key Takeaways
Everspin Technologies reported Q1 2024 revenue of $14.4 million, which was near the high end of their guidance range. However, the company experienced a GAAP net loss of $0.2 million, or $(0.01) per diluted share.
Total revenue reached $14.4 million, slightly lower than the $14.8 million reported in Q1 2023.
MRAM product sales were $10.9 million, down from $13.8 million in the same quarter last year.
Licensing, royalty, patent, and other revenue increased to $3.6 million compared to $1.1 million in Q1 2023.
GAAP net loss was $0.2 million, or $(0.01) per diluted share, a decrease compared to net income of $0.8 million, or $0.04 per diluted share, in Q1 2023.
Revenue by Segment
Forward Guidance
For the second quarter of 2024, Everspin anticipates revenue between $10.0 million and $11.0 million, with a GAAP net loss per basic share expected to range from $(0.14) to $(0.09).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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