Everspin Technologies Inc (MRAM) Q2 2024 Earnings Call Highlights: Navigating Challenges with ...

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Revenue: $10.6 million for Q2 2024, compared to $15.7 million in Q2 2023. Net Loss: $0.12 per basic share, within guidance range of $0.09 to $0.14 loss. MRAM Product Sales: $9.9 million in Q2 2024, ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEverspin Technologies Inc (MRAM) Q2 2024 Earnings Call Highlights: Navigating Challenges with ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-10 03:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/everspin-technologies-inc-mram-q2-193753999.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: $10.6 million for Q2 2024, compared to $15.7 million in Q2 2023.\nNet Loss: $0.12 per basic share, within guidance range of $0.09 to $0.14 loss.\nMRAM Product Sales: $9.9 million in Q2 2024, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/everspin-technologies-inc-mram-q2-193753999.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MRAM","symbol_name":"Everspin Technologies Inc","start_time":0,"source_url":"https://finance.yahoo.com/news/everspin-technologies-inc-mram-q2-193753999.html","article_id":"2474120915","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/WbQa01SE1IrJ2pwIh8ftMw--~B/aD01MDA7dz01MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/0460c7242e6d86eda41aa62a3ce08d25"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474120915","pubTimestamp":1728502673,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Revenue: $10.6 million for Q2 2024, compared to $15.7 million in Q2 2023.Net Loss: $0.12 per basic share, within guidance range of $0.09 to $0.14 loss.MRAM Product Sales: $9.9 million in Q2 2024, down from $13.4 million in Q2 2023.Licensing, Royalty, and Other Revenue: $0.7 million in Q2 2024, down from $2.3 million in Q2 2023.Gross Margin: 49% for Q2 2024, down from 58.4% in Q2 2023.Operating Expenses: $8 million in Q2 2024, compared to $7.6 million in Q2 2023.Adjusted EBITDA: Negative $0.2 million, compared to $5.4 million in Q2 2023.Cash and Cash Equivalents: $36.8 million at the end of Q2 2024, up from $34.8 million in the prior quarter.Cash Flow from Operations: $1.7 million for Q2 2024.Q3 2024 Revenue Guidance: Expected to be in the range of $11.5 million to $12.5 million.Q3 2024 Net Loss Guidance: Expected to be between $0.05 and $0.1 per basic share.GuruFocus has detected 5 Warning Sign with MRAM.Everspin Technologies Inc  delivered revenue and net loss within their guidance ra","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MRAM":"Everspin Technologies Inc"},"translate_title":"Everspin Technologies Inc(MRAM)2024年第二季度收益看涨期权亮点：应对挑战……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MRAM":1},"content_text":"Revenue: $10.6 million for Q2 2024, compared to $15.7 million in Q2 2023.\nNet Loss: $0.12 per basic share, within guidance range of $0.09 to $0.14 loss.\nMRAM Product Sales: $9.9 million in Q2 2024, down from $13.4 million in Q2 2023.\nLicensing, Royalty, and Other Revenue: $0.7 million in Q2 2024, down from $2.3 million in Q2 2023.\nGross Margin: 49% for Q2 2024, down from 58.4% in Q2 2023.\nOperating Expenses: $8 million in Q2 2024, compared to $7.6 million in Q2 2023.\nAdjusted EBITDA: Negative $0.2 million, compared to $5.4 million in Q2 2023.\nCash and Cash Equivalents: $36.8 million at the end of Q2 2024, up from $34.8 million in the prior quarter.\nCash Flow from Operations: $1.7 million for Q2 2024.\nQ3 2024 Revenue Guidance: Expected to be in the range of $11.5 million to $12.5 million.\nQ3 2024 Net Loss Guidance: Expected to be between $0.05 and $0.1 per basic share.\n\n\nWarning! GuruFocus has detected 5 Warning Sign with MRAM.\n\nRelease Date: July 31, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nEverspin Technologies Inc (NASDAQ:MRAM) delivered revenue and net loss within their guidance range, with revenue of $10.6 million.\nThe company ended the quarter with a strong balance sheet, including cash of $36.8 million.\nEverspin experienced strong traction with their 4 meg to 128 megabit MRAM PERSYST family globally, especially in Europe and the Asia Pacific regions.\nIBM chose Everspin's persist one gigabit STT-MRAM solution for its flash core module, marking the fourth generation of IBM's FCM featuring Everspin's technology.\nEverspin entered into a strategic agreement with a leading provider of sensor devices to provide foundry services for the latest generation TMR sensor device.\n\n Negative Points \n\nEverspin experienced a decline in product sales, with MRAM product sales decreasing to $9.9 million from $13.4 million in Q2 2023.\nLicensing, royalty, patent, and other revenue decreased to $0.7 million from $2.3 million in Q2 2023.\nThe company's GAAP gross margin decreased to 49% from 58.4% in Q2 2023, due to a decline in product sales and licensing revenue.\nEverspin reported a net loss of $2.5 million or $0.12 per basic share, compared to net income of $3.9 million or $0.18 per diluted share in Q2 2023.\nThe company continues to face challenges with inventory consumption at customers and unfavorable currency exchange rates in the Asia Pacific markets.\n\n Q & A Highlights \nQ: Can you provide more details on the increasing design win momentum in Europe and APAC? Are there specific applications for these designs? A: Sanjeev Aggarwal, President and CEO: The design wins are primarily targeted towards programmable logic controllers in industrial automation, particularly in Japan and Europe. We are also seeing traction with FPGA companies and in aerospace and defense sectors. These design wins involve NOR flash replacement and programmable logic controllers, utilizing our low-density STT-MRAM product with interfaces compatible with NOR flash and SRAM.\nQ: What is the current status of inventory digestion among your customers, and when do you expect to return to normal shipping levels? A: Sanjeev Aggarwal, President and CEO: We are seeing signals of inventory consumption, with customers placing orders with short lead times. This suggests they are consuming inventory and ordering last minute to conserve cash. We expect a return to normal lead times and inventory levels by the end of the year.\nQ: Can you explain the factors affecting the gross margin, which was down to 49% this quarter? A: Matt Tenorio, Interim CFO: The decrease in gross margin is due to a mix shift towards lower-margin products and the absorption of fixed costs over lower volumes. We expect improvement as the year progresses.\nQ: Regarding the third-quarter guidance, is the expected revenue growth coming from product sales or licensing and royalties? A: Matt Tenorio, Interim CFO: We expect product revenue to increase sequentially, with growth anticipated in our high-density STT-MRAM products in the second half of the year.\nQ: How should we think about the revenue potential of the PERSIST product line over the next few quarters? A: Sanjeev Aggarwal, President and CEO: Our goal is to achieve revenue levels from PERSIST products that are 50% of our current Toggle MRAM revenues within the next couple of years. We expect to start converting design wins into revenue towards the end of 2024 or early 2025, with meaningful revenue in 2025.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474120915"}