Everspin Technologies reported its financial results for Q4 2023, with revenues of $16.7 million and a net income of $2 million. Product sales were a bit slower than last year, but licensing and royalties were higher at $4.3 million (up from $1.1 million in 2022).
For the full year 2023, Everspin achieved record revenues of $63.8 million (up 6% from 2022), and net income of $9.1 million. At the end of the year Everspin had a cash balance of $36.9 million.
Everspin says that it had 217 design wins in 2023, and its MRAM product pipeline remains strong.
Disclosure: the author of this post holds shares at Everspin
Posted: Mar 01,2024 by Ron Mertens