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Jun 30, 2023
Everspin Q2 2023 Earnings Report
Revenue exceeded guidance, net income increased, and cash flow from operations was strong.
Key Takeaways
Everspin Technologies reported a strong second quarter in 2023, exceeding revenue guidance with $15.7 million and achieving a net income of $3.9 million. The company also generated $6.3 million in cash flow from operating activities and ended the quarter with $30.8 million in cash and cash equivalents.
Q2 revenue exceeded the top end of guidance at $15.7 million.
Net income for Q2 was $3.9 million, a significant increase from Q1.
Cash flows from operating activities for Q2 reached $6.3 million.
The company ended Q2 with $30.8 million in cash and cash equivalents.
Forward Guidance
For the third quarter of 2023, Everspin anticipates revenue between $15.4 million and $16.4 million and expects GAAP net income per basic share to be between $0.01 and $0.06.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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