Published on 29 Feb 2024 on GuruFocus.com via Yahoo Finance
Everspin Technologies Inc (MRAM) Achieves Record Annual Revenue and Profitability in 2023
Q4 Revenue: $16.7 million with EPS of $0.09, surpassing expectations.Annual Performance: Record revenue and profitability achieved in 2023.Design Wins: Closed the year with 217 design wins, indicating future growth potential.Financial Position: Strongest cash balance in history, with no debt.Q1 2024 Outlook: Revenue expected to be between $13.5 million to $14.5 million with GAAP net income per diluted share between breakeven and $0.05.Non-GAAP Measure: Adjusted EBITDA for the year 2023 stands at $15.3 million.
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