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Dec 31, 2022
Everspin Q4 2022 Earnings Report
Everspin reported its best year in company history with positive growth and profitability in the fourth quarter.
Key Takeaways
Everspin Technologies reported a 3% increase in Q4 revenue to $15.7 million compared to Q3 2022. The increase was driven by strong toggle demand and sales along with revenue from a new licensing arrangement. Cash and equivalents ended the quarter at $26.8 million.
Full year revenue increased $4.9 million, or 9%, to $60.0 million from $55.1 million in the prior year.
Q4’22 revenue increased $0.5 million, or 3%, to $15.7 million from $15.2 million for Q3’22.
Everspin reported record net income for 2022 of $6.1 million, this is an increase of $1.8 million, or 41% from net income for 2021 of $4.3 million.
Ended Q4’22 with cash and equivalents of $26.8 million.
Forward Guidance
For the first quarter 2023, Everspin expects total revenue in a range of $14.1 million to $14.8 million. Everspin expects GAAP net income per basic share to be between breakeven and $0.05.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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