Everspin Technologies, Inc. reported fourth quarter revenue of $13.2 million, exceeding expectations, and earnings per share at the high end of their guidance range. The company achieved 178 design wins in 2024, indicating strong future growth opportunities.
Total revenue for Q4 2024 was $13.2 million, compared to $16.7 million in Q4 2023.
GAAP net income for Q4 2024 was $1.2 million, or $0.05 per diluted share.
Adjusted EBITDA for Q4 2024 was $3.2 million, compared to $3.6 million in Q4 2023.
Cash and cash equivalents increased to $42.1 million as of December 31, 2024.
For the first quarter of 2025, Everspin expects total revenue to be between $12 million and $13 million, with GAAP net loss per basic share ranging from $(0.10) to $(0.05). Non-GAAP net (loss) income per basic share is anticipated to be between $(0.05) and $0.00.
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