Everspin Reports First Quarter 2021 Financial Results – Consumer Electronics Net consumerelectronicsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from consumerelectronicsnet.com Daily Mail and Mail on Sunday newspapers.
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Second Consecutive Quarter with Positive Cash Flow From Operations
CHANDLER, Ariz.–(BUSINESS WIRE)–Everspin Technologies, Inc. (NASDAQ: MRAM), the market leader in MRAM, today announced preliminary unaudited financial results for the fourth fiscal quarter and full year ended December 31, 2020.
Fourth Quarter and Full Year 2020 Highlights
2020 revenue increased 12.1% year-over-year to $42.0 million
Q4’20 GAAP net loss per share of ($0.08) was a significant improvement over both the prior quarter and year-ago periods
Generated $0.6 million cash flow from operations in Q4’20, the second consecutive quarter with positive cash flow from operations
Ended 2020 with cash and equivalents of $14.6 million
First royalty revenue from GLOBALFOUNDRIES for embedded MRAM on their 22FDX process in Q4