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Everspin Technologies Inc (MRAM)
NASDAQ:MRAM
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.02Last Year’s EPS
$0.09Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -6.74%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant achievements such as meeting revenue expectations, securing key product wins, maintaining a strong balance sheet, and obtaining strategic contracts. However, these positives were balanced by challenges including a year-over-year revenue decline, reduced gross margins, and geographical market difficulties.Company Guidance
During the Everspin Technologies Q3 2024 earnings call, several key metrics and guidance points were discussed. The company reported a revenue of $12.1 million, aligning with their guidance range, and an earnings per share (EPS) of $0.10, exceeding their expectations. Everspin highlighted significant wins like the selection of their 1 gigabit PERSYST STT-MRAM for IBM's FlashCore Module 4 and their PERSYST Toggle-MRAM for the Lucid Gravity SUV. The company ended the quarter with a cash position of $39.6 million. They noted ongoing projects, including a $9.25 million contract with Frontgrade Technologies and a $14.6 million award from a Department of Defense (DoD) contractor. For Q4 2024, Everspin anticipates total revenue between $12 million to $13 million, maintaining positive GAAP net income, and expects flat product revenue sequentially. The guidance reflects both a cautious outlook on global demand dynamics and optimism about future growth from new contracts and design wins.Revenue and Earnings Performance
Everspin reported third quarter revenue of $12.1 million, in line with guidance, and EPS of $0.10, ahead of the guidance range.
Key Product Wins and Contracts
Selection of 1 gigabit PERSYST STT-MRAM by IBM for the FlashCore Module 4 and PERSYST Toggle-MRAM for the Lucid Gravity SUV. New contracts with Frontgrade and a DoD contractor demonstrate the product portfolio strength.
Strong Balance Sheet
Ended the quarter with cash of $39.6 million, up from $36.8 million in the prior quarter, and maintained a debt-free status.
Strategic Award and Project Wins
Received a $14.6 million award from a DoD contractor for MRAM manufacturing sustainment and a project with Purdue University to advance AI hardware, receiving $21 million over four years.
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MRAM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MRAM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $6.82 | $6.18 | -9.38% |
| Jul 31, 2024 | $6.21 | $6.03 | -2.90% |
| May 01, 2024 | $7.49 | $6.51 | -13.08% |
| Feb 28, 2024 | $9.14 | $8.10 | -11.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Everspin Technologies Inc (MRAM) report earnings?
Everspin Technologies Inc (MRAM) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Everspin Technologies Inc (MRAM) earnings time?
Everspin Technologies Inc (MRAM) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MRAM EPS forecast?
MRAM EPS forecast for the fiscal quarter 2024 (Q4) is $0.02.
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