EVERSPIN TECHNOLOGIES INC. SEC 10-Q Report

Everspin Technologies Inc., a leading provider of Magnetoresistive RAM (MRAM) solutions, has released its Form 10-Q report for the second quarter of 2025. The report highlights significant improvements in both financial and operational metrics, showcasing the company's robust performance and strategic advancements in the semiconductor industry.

Financial Highlights

• Total Revenue: $13.2 million, increased by 24.1% from $10.6 million in the same period last year, driven by higher product sales and licensing, royalty, patent, and other revenue.
• Gross Profit: $6.8 million, representing a gross margin of 51.3%, up from 49.0% in the prior year period, due to a favorable shift in product mix and increased licensing revenue.
• Loss from Operations: $(2.0) million, improved from a loss of $(2.8) million in the prior year period, reflecting better cost management and increased revenue.
• Net Loss: $(0.7) million, compared to a net loss of $(2.5) million in the same period last year, primarily due to increased revenue and other income.
• Net Loss Per Common Share, Diluted: $(0.03), improved from $(0.12) in the prior year period, reflecting the reduced net loss.

Business Highlights

• Revenue Segments: Everspin Technologies generated 66% of its revenue from products sold to distributors in the three months ended June 30, 2025, compared to 87% in the same period in 2024. The company also maintains direct selling relationships with key customer accounts for strategic purposes.
• Geographical Performance: The Asia-Pacific (APAC) region contributed significantly to revenue, with $8.6 million in the three months ended June 30, 2025, up from $6.3 million in the same period in 2024. North America and EMEA regions showed varied performance, with North America slightly decreasing and EMEA increasing in revenue.
• Sales Units: The company did not explicitly report the number of units sold, but there was a noted increase in product sales revenue by $1.2 million, indicating a positive trend in sales volume.
• New Product Launches: Everspin Technologies focused on the development and enhancement of its new Extended Serial Peripheral Interface (xSPI) family of STT-MRAM products, which offer high-performance, multiple I/O, and SPI-compatibility.
• Future Outlook: The company anticipates that its cash and cash equivalents of $45.0 million as of June 30, 2025, will be sufficient to meet its capital requirements for the next 12 months. Future capital requirements will depend on growth rate, research and development activities, and the introduction of new products.

SEC Filing: EVERSPIN TECHNOLOGIES INC. [ MRAM ] - 10-Q - Aug. 06, 2025