Everspin announced financial results for the third quarter ended September 30, 2019.
Third Quarter and Recent Highlights
- Total revenue was $9.2 million, up 6% sequentially and above the high-end of guidance
- Achieved record STT-MRAM revenue, which included both 256Mb and 1Gb devices
- Signed IP assignment and cross-licensing agreement with Seagate Technology, demonstrating the strength of its MRAM intellectual property portfolio
- Expanded Toggle product portfolio with additional densities targeting new market applications
- Reduced cash used for operations to $770,000 from $1.8 million in the prior quarter