Everspin reports its financial results for Q323, launches a new MRAM for distributed Edge AI project

(MRAMinfo.com - Nov. 7th) Everspin Technologies reported its financial results for Q3 2023, with revenues of $16.5 million (up 8% from Q3 2022) and a net income of $2.4 million. The company generated $3.6 million and its current cash balance is $34.9 million. Everspin is cautiously optimistic about the next quarter, expecting revenue to be in the range of $15.4 to $16.4 million. It says demand for its toggle products remain strong and it sees increased demand for its xSPI family of STT-MRAM products.

https://www.mram-info.com/everspin-reports-its-financial-results-q3-2023-launches-new-mram-distributed-edge-ai-project#:~:text=edge%20ai%20project-,Everspin%20reports%20its%20financial%20results%20for%20Q3%202023%2C%20launches%20a,net%20income%20of%20%242.4%20million.