Everspin Posts 29-Cent Quarterly Loss as Bottom Line Turns Negative
MRAM sits 100% above its 52-week low of $7.35.
Summary
Everspin reported a third-quarter loss of 29 cents a share, a swing to red ink for the quarter, on revenue of $20.6M. That follows a Q2 in which revenue grew 42% to $18.7M but a patent lawsuit drove a $3.6M net loss, so the bottom line has now been pressured for at least two straight quarters. The company had pointed to over $80M in new contracts extending revenue visibility through 2028, which makes the loss the key question rather than demand. The company also issued fourth-quarter revenue and EPS guidance.
At the time of this announcement, MRAM was trading at $14.70 on NASDAQ in the Technology sector, with a market capitalization of approximately $357.8M. The 52-week trading range was $7.35 to $51.50. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.