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Everspin reports its financial results for Q3 2016

Wednesday, November 16, 2016 1:25
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(Before It's News)

Everspin announced its financial results for Q3 2016. Revenues reached $7.1 million (slightly up from $7 million in Q3 2016) and net loss was $1.4 million (down from $4.5 million in Q3 2015).

Everspin reports that its first generation toggle-MRAM product revenues grew 9% in the first three quarters of 2016 compared to 2015.

Last month Everspin started trading at the NASDAQ, under the ticker “MRAM”. The company sold 8 million shares at $8 a share, raising $41 million in the successful IPO. Everspin has over 600 end-customers and Since 2008 it had shipped more than 60 million MRAM Chips. Everspin currently produces MRAM and STT-MRAM chips ranging from 128K to 256Mbit, and will soon launch 1 Gbit STT-MRAM chips. Everspin has three product generations: Toggle-MRAM, STT-MRAM and pMTJ STT-MRAM chips.

Everspin started sampling its new pMTJ ST-MRAM chips in August 2016. The p-MTJ ST-MRAM offers improved performance, higher endurance, lower power, and better scalability compared to previous MRAM and ST-MRAM products. Everspin is developing a scaled-down 1Gb version.

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