Everspin reports its financial results for Q1 2024
Everspin Technologies announced its financial results for the first quarter of 2024. Revenues were $14.4 million (down slightly from Q1 2023) and a small loss of $0.2 million (compared to a net income of $0.8 million in Q1 2023).
Everspin reports continued weakness in Asia Pacific, and in the industrial, consumer and automotive markets. However, it is also expecting a ramp up in both design wins and shipments for both toggle MRAM and STT-MRAM in the second half of 2024. In the next quarter, however, it expects revenues to drop significantly to $10 million to $11 million.
Source: https://www.mram-info.com/everspin-reports-its-financial-results-q1-2024
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