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Dec 31, 2021
Everspin Q4 2021 Earnings Report
Reported record revenue and profitability, driven by focus on monetizing IP and growing products.
Key Takeaways
Everspin Technologies reported record revenue for Q4 2021, driven by strong Toggle sales, revenue recognition from a U.S. Government RAD-Hard program, and an IP monetization deal. The company's GAAP net income was $3.7 million, or $0.19 per share.
Total revenue for the fourth quarter of 2021 was $18.2 million, an increase of 82% compared to the fourth quarter of 2020.
MRAM product sales were $12.6 million compared to $9.7 million in the fourth quarter of 2020.
Revenue from IP monetization deal was $3.95 million in the fourth quarter of 2021.
GAAP net income for the fourth quarter of 2021 was $3.7 million, or $0.19 per share.
Forward Guidance
For the first quarter 2022, Everspin expects total revenue in a range of $13.4 million to $14.2 million and expects GAAP net income (loss) per basic share to be between ($0.03) and breakeven.
Positive Outlook
- Expected revenue between $13.4 million and $14.2 million.
- Anticipate some unfulfilled customer demand to shift to Q2'22.
- Focus on next generation 28nm STT MRAM product development.
- Continue to manage supply constraints.
- Aim for GAAP net income (loss) per basic share between ($0.03) and breakeven.
Challenges Ahead
- Industry supply constraints are expected to limit supply.
- Expenses related to next generation 28nm STT MRAM product development.
- Potential price increases from suppliers.
- Evolving external conditions, such as the resurgence of COVID-19 and its variants.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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