Published on 1 May 2024 on GuruFocus.com via Yahoo Finance
Everspin Technologies Inc (MRAM) Q1 Earnings: Revenue Surpasses Estimates, Net Income Falls Short
Q1 2024 Revenue: Reported at $14.4 million, slightly surpassing the estimated $14.05 million.Q1 2024 Net Income: Recorded a net loss of $202,000, significantly falling below the estimated net income of $1.8 million.Q1 2024 Earnings Per Share (EPS): Reported a loss of $0.01 per share, failing to meet the estimated earnings of $0.08 per share.Adjusted EBITDA: Amounted to $1.91 million, a decrease from $2.32 million in the same period last year.Operating Expenses: Total operating expenses increased to $8.76 million from $7.73 million in the prior year.Stock-based Compensation: Rose to $1.71 million, up from $1.16 million in Q1 2023, reflecting increased investment in human capital.Future Outlook: Expects Q2 2024 revenue between $10.0 million and $11.0 million and anticipates a GAAP net loss per share between $(0.14) and $(0.09).
Warning! GuruFocus has detected 3 Warning Sign with MRAM.