Everspin Technologies Second Quarter 2023 Earnings: Beats Expectations

August 04, 2023

Simply Wall St

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).

earnings-and-revenue-growth — NasdaqGM:MRAM Earnings and Revenue Growth August 4th 2023

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.

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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.

mitchell_lawler

Micron (MU) is booming, and it still doesn't look ‘expensive’ based on next year's earnings. So why does our own valuation say it could be worth 40% less?

2613

zoe_vi5fn3d

A low price to earnings ratio at the top of the cycle is a warning rather than a bargain, and a terrifyingly high one at the bottom is often the entry point

darius_xnnrd3d

Memory used to have a dozen participants racing each other into oversupply, and now it has three. High bandwidth memory is qualified into customer designs years ahead, sold under long-term agreements, and is far harder to switch away from than commodity DRAM.

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.

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Reasonable growth potential with adequate balance sheet.

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