Everspin announced financial results for the first quarter ended March 31, 2020.
First Quarter and Recent Highlights
- Total revenue increased sequentially and year-over-year to $10.1 million, exceeding the high-end of guidance
- Gross margin expanded to 52.9% from 47.7% in the prior year quarter
- GAAP loss improved to ($0.10) per share and non-GAAP loss to ($0.05), compared to ($0.25) and ($0.21), respectively, in year-ago quarter
- Ended quarter with cash and equivalents of $14.0 million