Everspin Technologies Reports Q1 2025 Financial Results

Everspin Technologies Inc ( (MRAM) ) has released its Q1 earnings. Here is a breakdown of the information Everspin Technologies Inc presented to its investors.

Everspin Technologies Inc., headquartered in Chandler, Arizona, is a leading provider of magnetoresistive random access memory (MRAM) solutions, catering to mission-critical applications in industries such as aerospace, defense, and industrial IoT. The company recently announced its preliminary unaudited financial results for the first quarter of 2025, highlighting its strategic advancements and financial performance.

In the first quarter of 2025, Everspin reported total revenue of $13.1 million, a decrease from $14.4 million in the same period of 2024. Despite the decline in total revenue, MRAM product sales slightly increased to $11.0 million from $10.9 million in the previous year. The company’s gross margin also experienced a decrease, falling to 51.4% from 56.5% in the first quarter of 2024. Everspin’s GAAP net loss widened to $1.2 million, or $(0.05) per diluted share, compared to a net loss of $0.2 million, or $(0.01) per diluted share, in the first quarter of 2024.

Everspin’s strategic initiatives include the introduction of two new products in its Orion xSPI family, designed to meet the growing demand for high-speed, persistent memory solutions in extreme environments. The company also secured a significant contract with Astro Digital, underscoring the strength of its solutions in mission-critical applications. Additionally, Everspin’s cash and cash equivalents increased to $42.2 million as of March 31, 2025, reflecting its prudent financial management.

Looking ahead, Everspin expects total revenue for the second quarter of 2025 to range between $12.5 million and $13.5 million, with GAAP net income per basic share projected to be between $(0.05) and $0.00. The company remains focused on monitoring external conditions, including potential tariff impacts, to navigate the evolving market landscape effectively.