Everspin Technologies, Inc. (MRAM) Tops Q4 EPS by 2c, Revenues Beat; Q1 EPS Mid-Point Guidance Above Consensus, Q1 Revenue Guidance Below Consensus

Everspin Technologies, Inc. (NASDAQ: MRAM) reported Q4 EPS of ($0.20), $0.02 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $12.3 million versus the consensus estimate of $12 million.

• Fourth quarter total revenue grew 21% year-over-year to $12.3 million
• Full year total revenue grew 38% over 2017 to $49.4 million, with MRAM product revenue increasing 40%
• Shipped world’s first pre-production customer samples of 28nm 1Gb STT-MRAM product
• Increased volume production of 40nm 256Mb STT-MRAM in support of lead flash array customer
• Ended the year with cash and cash equivalents of $23.4 million

“2018 marked a transformational year for Everspin, with measurable progress on our MRAM initiatives resulting in MRAM product revenue growth of 40%,” stated Kevin Conley, Everspin’s President and CEO. “We successfully ramped volume production of our 256Mb STT-MRAM product, developed key manufacturing and licensing partnerships, as well as demonstrated continued improvements on Toggle production.

“Further, we achieved a significant milestone of shipping pre-production samples of our 28nm 1Gb STT-MRAM product to customers with positive initial feedback. We are actively preparing for qualifications and production ramp in the second half of this year.

“Looking forward, we continue to be focused on disciplined execution, operational excellence and technology leadership as we work to expand the pipeline of opportunities for both our Toggle and STT-MRAM products.”

GUIDANCE:

Everspin Technologies, Inc. sees Q1 2019 EPS of ($0.28)-($0.24), versus the consensus of ($0.25). Everspin Technologies, Inc. sees Q1 2019 revenue of $9.5-9.9 million, versus the consensus of $12.43 million.

For earnings history and earnings-related data on Everspin Technologies, Inc. (MRAM) click here.

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