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Sep 30, 2023
Everspin Q3 2023 Earnings Report
Revenue increased year-over-year, exceeding guidance, and net income also increased year-over-year.
Key Takeaways
Everspin Technologies reported an 8% increase in revenue to $16.5 million, exceeding its guidance. Net income also increased by 27.8% year-over-year to $2.4 million. The company's cash and cash equivalents totaled $34.9 million.
Revenue of $16.5 million increased 8% from Q3'22.
Net income of $2.4 million increased 27.8% from Q3'22.
Adjusted EBITDA of $4.0 million increased 18.7% from Q3'22.
Cash and cash equivalents totaled $34.9 million on September 30, 2023.
Forward Guidance
For the fourth quarter 2023, Everspin expects total revenue in a range of $15.4 million to $16.4 million and GAAP net income per diluted share to be between $0.01 and $0.06.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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