March 2017

Everspin announced its financial results for Q4 2016. Revenues for the quarter reached $7.1 million (up from $6.8 million in Q4 2015) and the net loss reached $5.3 million (down from $6.3 million in Q4 2015).

For the whole of 2016, revenues were $27.1 million - up slightly from 2015 ($26.5 million). The net loss in 2016 was $16.7 million. Everspin says that most of the revenue in Q4 came from first-generation Toggle MRAM products. The company reports that design activity for both Toggle and STT-MRAM products continues to gain traction.

Everspin announced several new applications and customers for its MRAM solutions. First up is the new nvNITRO storage accelerator product family. These new cards (aimed for demanding applications such as financial transactions) are available in either 1Gb or 2Gb, and are based on Everspin's 256Mb DDR STT-MRAM chips. Later this year Everspin will release new models based on its 1Gb DDR4 chips which will enable capacities up to 16Gb.

Everspin says that the nvNITRO operate at a very fast 1,500,000 IOPS with 6-ms end-to-end latency. Everspin is testing the first cards at customers now, and initial production will begin in Q2 2017.