Everspin Technologies announced its Q4 2019 financial results, with revenues of $9.8 million (up 5% from Q3 2019) and a net loss of $3.1 million, down from a net loss of $3.7 million in Q3 2019.
In 2019, Everspin reports revenues of $37.5 million and a net loss of $14.7 million, down from $17.8 million in 2018.
Everspin Technologies announced that it has amended its STT-MRAM joint development agreement (JDA) with GLOBALFOUNDRIES to set the terms for a future project on an advanced 12 nm FinFET MRAM solution. Everspin agreement included 40 nm, 28 nm and 22 nm processes, and now also include 12 nm.
GF recently announced it has achieved initial production of embedded MRAM (eMRAM) on its 22FDX platform.
GlobalFoundries announced that it has delivered the first production-ready eMRAM on its 22FDX platform for IoT and automotive applications. The company says that its advanced eMRAM provides a "cost-effective solution for low-power, non-volatile code and data storage applications".
GF says that it has entered production and is working with several clients with multiple production tape-outs scheduled in 2020. GF's eMRAM is designed as a replacement for high-volume embedded NOR flash (eFLASH). GF says that its eMRAM has passed five rigorous real-world solder reflow tests, and has demonstrated 100,000-cycle endurance and 10-year data retention across the -40°C to 125°C temperature range. The FDX eMRAM solution supports AEC-Q100 quality grade 2 designs, with development in process to support an AEC-Q100 quality grade 1 solution next year.
Everspin Technologies announced that the company will undergo a restructuring plan designed to reduce annual operating expenditures and achieve quarterly cash flow breakeven this year. At the end of January the company will reduce its headcount - an approximately 15% reduction of the workforce.
Everspin also announced that it reaffirms its Q4 2019 revenue guidance of $9.3 million to $9.7 million.
Everspin Technologies announced that It is has received the qualification notice from a major OEM for its 1Gb STT-MRAM device. The company is now qualified to start making production shipments of its new chip for its first customer.
Everspin further announced that since it started MRAM production, it shipped over 120 Toggle MRAM and STT-MRAM devices.
Everspin Technologies announced its financial results for Q3 2019 - with revenues of $9.2 million (down from $11.5 million in Q3 2018) and a net loss of $3.7 million (down from $5.6 million in Q3 2018). Everspin says that it achieved record STT-MRAM revenues.
At the end of the quarter, Everspin had $14.8 million in cash and equivalents. For the next quarter, it expects revenues to be between $9.3 million and $9.7 million.
Everspin Technologies announced that it has expanded its Toggle MRAM product portfolio, adding 2Mb, 8Mb and 32Mb capacities. Everspin's previous largest capacity Toggle MRAM was 16Mb, so the company now offers double the capacity to enable applications such as configuration storage, setup and data logging in embedded systems and more.
Everspin's new 8Mb and 32Mb memory devices are currently sampling and production will begin in Q1 2020. The 2Mb device will start sampling by the end of 2019, and production will also begin in Q1 2020.
Everspin Technologies announced that it has signed an IP cross-licensing agreement with Seagate Technology. Everspin will license specific Tunneling Magnetoresistance (TMR) patents to Seagate, while Seagate will license MRAM patents to Everspin.
Everspin says its IP portfolio is now stronger which will provide further protection to for its products and services, while Seagate will gain license to TMR IP which can be used in HDD head technology.
In August 2018 IBM announced that it adopted Everspin's 256Mb STT-MRAM chips in its enterprise SSD FlashSystem. Now IBM announced that it's latest FlashCore modules will use Everspins 1Gb STT-MRAM chips.
Using MRAM instead of DRAM memory enabled IBM to remove the relatively large supercapacitors (used to make the DRAM non-volatile) and so the company was able to reduced the size of its drives and switch to a standard 2.5-inch U.2 drive form factor.
Everspin Technologies announced that Cadence Design is now providing DDR4 Design IP (DIP) and Verification IP (VIP) support for Everspinâs 1 Gb STT-MRAM memory. Cadence has supported Everspin's STT-MRAM products since 2012. Everspin customers will now be able to request 1Gb MRAM-enabled IP and VIP for their Custom ASIC solutions.
Everspinâs 1 Gb STT-MRAM product family includes both 8bit and 16-bit DDR4 compatible (ST-DDR4) interface versions of the device and are available in a JEDEC-compliant BGA package.