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Sep 30, 2021
Everspin Q3 2021 Earnings Report
Everspin reported its best quarter in company history with revenue increase and record net income.
Key Takeaways
Everspin Technologies, Inc. announced preliminary unaudited financial results for the third fiscal quarter of 2021. The company reported record net income of $880k. Q3’21 revenue increased 25% and $2.9 million from $11.9 million in the prior quarter to $14.8 million.
Q3’21 revenue increased 25% and $2.9 million from $11.9 million in the prior quarter to $14.8 million.
Q3’21 revenue increased 46.5% compared to $10.1 million of revenue in Q3’20.
The Company reported record net income of $880k for Q3’21.
Ended Q3’21 with cash and equivalents of $14.6 million; which is an increase from $14.2 million reported in the prior quarter.
Forward Guidance
For the fourth quarter 2021, Everspin expects total revenue in a range of $16.25 million to $17.25 million and expects a GAAP net income per basic share of between $0.02 and $0.08.
Positive Outlook
- Revenue range reflects expected product revenue growth
- Remaining $3.95 million of revenue expected to be recognized for the IP monetization deal
Challenges Ahead
- Expenses related to next generation 28nm STT MRAM product
- Price increases from our suppliers
Historical Earnings Impact
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Avg. Return Before/After Earnings
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