Earlier this month we reported that Everspin filed for an IPO, and today we learned that the IPO's date is set to October 7. Everspin expects to raise about $45 million and start trading in the NASDAQ with the ticker "MRAM".
Everspin generated $26.5 million in revenues in 2015, up from $24.9 in 2014. Net loss was $18.2 million in 2015, up from $10.2 million million in 2014. Everspin sold products to over 600 end-customers in 2015, with the two largest customers were NXP and Avago Technologies (Broadcom) - each accounting for 13% of Everspin's revenues. NXP is a customer for Everspin's embedded and sensor solutions.
Everspin says that the company shipped more than 60 million MRAM discrete and embedded products - into data centers, cloud storage, energy, industrial, automotive, consumer, and transportation markets. The new chips are the first ones produced at GlobalFoundries 300mm manufacturing MRAM line, following the agreement signed in October 2014.
EverSpin was spun-off from Freescale in 2008 to handle its MRAM business. Since 2008 Everspin shipped more than 60 million MRAM Chips (discrete and embedded) into data centers, cloud storage, energy, industrial, automotive, consumer, and transportation markets. Everspin currently produces MRAM and STT-MRAM chips ranging from 128K to 256Mbit, and will soon launch 1 Gbit STT-MRAM chips. Everspin has three product generations: Toggle-MRAM, STT-MRAM and pMTJ STT-MRAM chips.
Everspin started sampling its new pMTJ ST-MRAM chips in August 2016. The p-MTJ ST-MRAM offers improved performance, higher endurance, lower power, and better scalability compared to previous MRAM and ST-MRAM products. Everspin is developing on a scaled-down 1Gb version.
