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Everspin Technologies Second Quarter 2023 Earnings: Beats Expectations
Everspin Technologies (NASDAQ:MRAM) Second Quarter 2023 Results
Key Financial Results
- Revenue: US$15.7m (up 7.1% from 2Q 2022).
- Net income: US$3.89m (up 133% from 2Q 2022).
- Profit margin: 25% (up from 11% in 2Q 2022). The increase in margin was primarily driven by lower expenses.
- EPS: US$0.19 (up from US$0.083 in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Everspin Technologies Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in the US.
Performance of the American Semiconductor industry.
The company's shares are up 9.6% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 3 warning signs for Everspin Technologies you should be aware of, and 1 of them makes us a bit uncomfortable.
Valuation is complex, but we're here to simplify it.
Discover if Everspin Technologies might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NasdaqGM:MRAM
Everspin Technologies
Manufactures and sells magnetoresistive random access memory (MRAM) technologies in the United States, Japan, Hong Kong, Germany, Singapore, Canada, and internationally.
Flawless balance sheet and good value.
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