Strong Revenue Growth
Everspin reported third quarter revenue of $14.1 million, up 16% year-over-year, driven by higher product sales.
MRAM Product Sales Increase
MRAM product sales in the third quarter were $12.7 million, up 22% over the third quarter of last year.
Improved Gross Margin
GAAP gross margin improved to 51.3% for the third quarter, up over 200 basis points from 49.2% in the third quarter of 2024.
Strategic Collaborations
Everspin entered into a strategic collaboration with Quintauris to enhance RISC-V-based platforms for automotive, industrial, and edge applications.
Strong Balance Sheet
Everspin ended the quarter with $45.3 million in cash and cash equivalents, up $0.3 million from the previous quarter, and remains debt-free.