MRAM - Everspin Technologies beats Q1 top and bottom line estimates; initiates Q2 outlook

2023-05-03 16:04:01 ET

• Everspin Technologies press release ( NASDAQ: MRAM ): Q1 GAAP EPS of $0.04 beats by $0.05 .
• Revenue of $14.8M (+3.5% Y/Y) beats by $0.35M .
• Gross margin for the first quarter of 2023 was 56.8%, compared to 51.4% in the fourth quarter of 2022 and 58.0% in the first quarter of 2022.
• Outlook: For the second quarter 2023, Everspin expects total revenue in a range of $14.5 million to $15.5 million vs. consensus of $14.80M. Everspin expects GAAP net income per basic share to be between breakeven and $0.05, primarily influenced by expenses related to next generation 28nm STT-MRAM product development and price increases from its suppliers.

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