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Jun 30, 2024
Everspin Q2 2024 Earnings Report
Revenue was in line with guidance, but the company reported a net loss.
Key Takeaways
Everspin Technologies reported Q2 2024 financial results with revenue of $10.6 million, aligning with expectations. However, the company experienced a GAAP net loss of $2.5 million, or $0.12 per basic share, contrasting with the previous year's net income of $3.9 million, or $0.18 per diluted share.
Total revenue reached $10.6 million, down from $15.7 million in Q2 2023.
MRAM product sales totaled $9.9 million, compared to $13.4 million in the prior year.
Licensing, royalty, patent, and other revenue was $0.7 million, a decrease from $2.3 million in Q2 2023.
GAAP net loss amounted to $2.5 million, or $0.12 per basic share, compared to a net income of $3.9 million, or $0.18 per diluted share, in the second quarter of 2023.
Revenue by Segment
Forward Guidance
For the third quarter 2024, Everspin expects total revenue in a range of $11.5 million to $12.5 million and GAAP net loss per basic share to be between $0.05 and $0.10.
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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