EVERSPIN TECHNOLOGIES INC

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

MRAM$12.71-1.6%Stored close · as of Nov 10, 2026

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Contents

Statements of Income and Comprehensive Income

(In thousands, except share and per share amounts)


· · Year Ended December 31,
· 2023 · 2022
Product sales	$53,123	$55,032
Licensing, royalty, patent, and other revenue	10,642	4,953
Total revenue	63,765	59,985
Cost of product sales	24,693	25,112
Cost of licensing, royalty, patent, and other revenue	1,827	928
Total cost of sales	26,520	26,040
Gross profit	37,245	33,945
Operating expenses:1
Research and development	11,776	11,108
General and administrative	14,296	11,741
Sales and marketing	5,288	4,869
Total operating expenses	31,360	27,718
Income from operations	5,885	6,227
Interest expense	(63)	(274)
Other income, net	3,214	190
Net income before income taxes	9,036	6,143
Income tax benefit (expense)	16	(14)
Net income and comprehensive income	$9,052	$6,129
Net income per common share:
Basic	$0.44	$0.30
Diluted	$0.42	$0.29
Weighted average shares of common stock outstanding:
Basic	20,748,302	20,130,336
Diluted	21,367,304	20,775,925

1Operating expenses include stock-based compensation as follows:
Research and development	$1,981	$1,704
General and administrative	2,519	2,190
Sales and marketing	505	514
Total stock-based compensation	$5,005	$4,408

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.