Revenue Performance - Total revenue decreased by $4.4 million, or 26.6%, from $16.5 million during the three months ended September 30, 2023, to $12.1 million during the same period in 2024[86]. - Total revenue decreased by $9.9 million, or 21.0%, from $47.1 million in the nine months ended September 30, 2023, to $37.2 million in the same period of 2024[98]. Product Sales - Product sales accounted for $10.4 million, a decrease of $3.1 million or 22.9% compared to $13.5 million in the prior year[81]. - The company generated 84% of its revenue from products sold to distributors for the three months ended September 30, 2024[83]. Licensing and Other Revenue - Licensing, royalty, patent, and other revenue decreased by $1.3 million, or 43.6%, from $2.9 million to $1.7 million year-over-year[87]. - Cost of licensing, royalty, patent, and other revenue decreased by $0.5 million, or 39.2%, from $1.4 million in the nine months ended September 30, 2023, to $0.8 million in the same period of 2024[101]. Profitability - Gross profit for the three months ended September 30, 2024, was $5.9 million, representing a gross margin of 49%, down from 60% in the same period of 2023[81]. - Gross margin decreased from 60.2% in Q3 2023 to 49.2% in Q3 2024, attributed to a shift in product mix and decreased licensing revenue[90]. - Net income for the three months ended September 30, 2024, was $2.3 million, compared to $2.4 million in the same period of 2023[81]. - The net loss for the nine months ended September 30, 2024, was $0.4 million, compared to a net income of $7.1 million for the same period in 2023[115][116]. Expenses - Operating expenses increased to $8.1 million, or 67% of total revenue, compared to 48% in the prior year[81]. - Research and development expenses increased to $3.4 million, representing 28% of total revenue, up from 16% in the prior year[81]. - Research and development expenses increased by $0.7 million, or 27.3%, from $2.7 million in Q3 2023 to $3.3 million in Q3 2024, driven by new xSPI product development[91]. - General and administrative expenses decreased by $0.6 million, or 14.5%, from $3.9 million in Q3 2023 to $3.3 million in Q3 2024[92]. - Sales and marketing expenses decreased by $0.1 million, or 1.7%, from $4.0 million in the nine months ended September 30, 2023, to $3.9 million in 2024[104]. Cash Flow and Financial Position - As of September 30, 2024, the company had $39.6 million in cash and cash equivalents, an increase from $36.9 million as of December 31, 2023[113]. - Cash provided by operating activities for the nine months ended September 30, 2024, was $3.3 million, a decrease from $11.1 million in the same period of 2023[114][116]. - Cash used in investing activities during the nine months ended September 30, 2024, was $1.3 million for the purchase of manufacturing equipment, compared to $1.1 million in 2023[117][119]. - Cash provided by financing activities for the nine months ended September 30, 2024, was $0.7 million, while cash used in financing activities in 2023 was $1.9 million[120][121]. - Non-cash charges for the nine months ended September 30, 2024, included stock-based compensation of $5.1 million and depreciation and amortization of $1.2 million[115]. - The company has no outstanding debt as of September 30, 2024, after fully paying off its 2019 Credit Facility in March 2023[113]. Future Outlook - Future capital requirements will depend on growth rate, research and development spending, and new product introductions[113]. - The company experienced an increase in contract obligations of $3.0 million during the nine months ended September 30, 2024[115]. - There have been no changes to critical accounting policies that have materially impacted the financial statements[123].

Financial Data and Key Metrics Changes - Everspin reported Q3 2024 revenue of $12.1 million, in line with guidance, and EPS of $0.10, ahead of guidance range [10][28] - Year-over-year revenue decreased from $16.5 million in Q3 2023, with MRAM product sales down to $10.4 million from $13.5 million [28] - GAAP gross margin was 49.2%, down from 60.2% in Q3 2023, attributed to lower product sales and licensing revenue [29] - GAAP net income for Q3 2024 was $2.3 million, compared to $2.4 million in Q3 2023 [32] - Cash and cash equivalents increased to $39.6 million from $36.8 million at the end of the prior quarter [33] Business Line Data and Key Metrics Changes - Product revenue from Toggle and STT-MRAM decreased due to timing of customer demand [28] - Licensing, royalty, patent, and other revenue fell to $1.7 million from $2.9 million in Q3 2023, due to lower royalties and RadHard project revenue [29] - Continued growth in design wins for PERSYST STT-MRAM products, with expectations for revenue ramping in 2025 [15][27] Market Data and Key Metrics Changes - Signs of inventory consumption observed among customers, particularly in Europe, which is expected to drive additional demand [35] - Challenges noted in Japan and Germany affecting revenue profile for Q4 [49] Company Strategy and Development Direction - Everspin is focused on expanding its market opportunities through new contracts and design wins, particularly in the automotive sector [20][24] - The company is engaged in developing energy-efficient AI solutions through collaborations, including a project with Purdue University [22][60] - Strategic agreements with defense contractors to enhance MRAM manufacturing capabilities are in place [30] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the adoption of PERSYST STT-MRAM products, with expectations for additional design wins [15] - The company anticipates flat product revenue for Q4 2024, with a cautious outlook due to mixed signals from the market [35][47] - Management highlighted the importance of ongoing customer discussions that may lead to future design wins [27] Other Important Information - Everspin received a $14.6 million award from a DoD contractor for MRAM manufacturing capabilities, recognized as other income [19][30] - The company is working on multiple RadHard programs that are on track to move to their next phases [17] Q&A Session Summary Question: Details on the onshore MRAM strategic award recognition - Management clarified that the award is recognized as other income due to revenue recognition standards not being met [38] Question: Clarification on gross margin stability - Management explained that lower demand for toggle products is affecting fixed costs absorption, keeping margins flat [39] Question: DoD contract recognition and guidance impact - Management indicated that the DoD contract will be recognized ratably over 2.5 years and is factored into Q4 guidance [41] Question: Dynamics affecting product revenue guidance - Management noted that qualification times for new products and mixed market signals contribute to conservative revenue expectations [45][47] Question: Market challenges in Japan and Europe - Management confirmed ongoing challenges in Japan and economic turmoil in Germany impacting revenue [49] Question: Differences between MRAM product families - Management provided insights into the PERSYST, Unisys, and AgILYST product families, highlighting their specific applications and markets [51][56] Question: Financial contributions from the Purdue program - Management stated that no contract has been signed yet, so financial contributions remain uncertain [60]

Financial Performance - Q3 2024 revenue of $12.1 million, down from $16.5 million in Q3 2023, with MRAM product sales of $10.4 million compared to $13.5 million in the same period last year [3] - GAAP net income of $2.3 million, or $0.10 per diluted share, compared to net income of $2.4 million, or $0.11 per diluted share, in Q3 2023 [4] - Gross margin decreased to 49.2% from 60.2% in Q3 2023 [3] - For Q4 2024, Everspin expects total revenue between $12 million and $13 million, with GAAP net income per diluted share projected to be between $0.00 and $0.05 [5] - Adjusted EBITDA for Q3 2024 was $4.2 million, slightly up from $4.0 million in Q3 2023 [4] - Net loss for the nine months ended September 30, 2024, was $(433) thousand, compared to a net income of $7,084 thousand for the same period in 2023 [17] - Adjusted EBITDA for the nine months ended September 30, 2024, was $5,958 thousand, down from $11,752 thousand in the same period of 2023 [18] - Cash flows from operating activities provided $3,266 thousand for the nine months ended September 30, 2024, compared to $11,086 thousand for the same period in 2023 [17] Assets and Liabilities - Total current assets increased to $64.0 million as of September 30, 2024, compared to $57.9 million at the end of 2023 [13] - Total liabilities remained stable at $13.3 million as of September 30, 2024, compared to $13.4 million at the end of 2023 [14] - Cash and cash equivalents increased to $39.6 million from $36.9 million at the end of 2023 [13] - Cash and cash equivalents at the end of the period were $39,588 thousand, up from $34,934 thousand at the end of the previous period [17] Expenses and Cash Flow - Stock-based compensation expense increased to $5,108 thousand for the nine months ended September 30, 2024, from $3,700 thousand in the same period of 2023 [18] - Depreciation and amortization for the nine months ended September 30, 2024, was $1,197 thousand, compared to $905 thousand for the same period in 2023 [17] - Net cash used in investing activities was $(1,302) thousand for the nine months ended September 30, 2024, compared to $(1,065) thousand for the same period in 2023 [17] - Payments on long-term debt were $0 for the nine months ended September 30, 2024, compared to $(2,790) thousand for the same period in 2023 [17] - Interest paid was $0 for the nine months ended September 30, 2024, compared to $37 thousand for the same period in 2023 [17] - The company reported a net increase in cash and cash equivalents of $2,642 thousand for the nine months ended September 30, 2024, compared to $8,139 thousand for the same period in 2023 [17] Strategic Outlook - New contracts won during the quarter are expected to contribute to revenue from PERSYST xSPI STT-MRAM products starting in 2025 [2] - Everspin's management emphasizes the importance of converting design wins into revenue as part of their growth strategy [5]

Financial Performance - Total revenue decreased by $5.1 million, or 32.5%, from $15.7 million during the three months ended June 30, 2023, to $10.6 million during the same period in 2024[63]. - Product sales accounted for $9.9 million, representing 93% of total revenue for the three months ended June 30, 2024, compared to $13.4 million or 85% in the same period of 2023[61]. - Gross profit for the three months ended June 30, 2024, was $5.2 million, a decrease from $9.2 million in the same period of 2023, resulting in a gross margin of 49% compared to 58%[61]. - Operating expenses increased to $8.0 million for the three months ended June 30, 2024, from $7.6 million in the same period of 2023, representing 76% of total revenue[61]. - Net loss for the three months ended June 30, 2024, was $2.5 million, compared to a net income of $3.9 million in the same period of 2023, reflecting a significant decline in profitability[61]. - Total revenue decreased by $5.5 million, or 18.1%, from $30.6 million in the first half of 2023 to $25.1 million in the first half of 2024[78]. - Product sales decreased by $6.4 million, or 23.7%, from $27.2 million in the first half of 2023 to $20.7 million in the first half of 2024[77]. - Gross margin for the first half of 2024 was 53.4%, down from 57.6% in the first half of 2023, due to decreased product sales[81]. - Cash provided by operating activities was $0.4 million for the six months ended June 30, 2024, compared to $7.5 million in the same period of 2023, reflecting a significant decrease[92][93]. Revenue Sources - The company generated 87% of its revenue from products sold to distributors for the three months ended June 30, 2024[63]. - Licensing, royalty, patent, and other revenue decreased to $749,000, or 7% of total revenue, down from $2.3 million, or 15%, in the same period of 2023[61]. - Licensing, royalty, patent, and other revenue decreased by $1.6 million, or 68.0%, from $2.3 million in Q2 2023 to $0.7 million in Q2 2024[65]. - Licensing, royalty, patent, and other revenue increased by $0.9 million, or 26.7%, from $3.4 million in the first half of 2023 to $4.3 million in the first half of 2024[79]. Expenses and Costs - Total cost of sales for the three months ended June 30, 2024, was $5.4 million, representing 51% of total revenue, compared to 42% in the same period of 2023[61]. - Cost of product sales decreased by $0.9 million, or 14.0%, from $6.1 million in Q2 2023 to $5.2 million in Q2 2024[70]. - Research and development expenses rose to $3.5 million, accounting for 33% of total operating expenses for the three months ended June 30, 2024, compared to 17% in the same period of 2023[61]. - Research and development expenses increased by $0.7 million, or 27.7%, from $2.7 million in Q2 2023 to $3.5 million in Q2 2024, driven by new xSPI product development[70]. - General and administrative expenses increased by $0.6 million, or 8.4%, from $6.7 million in the first half of 2023 to $7.3 million in the first half of 2024[85]. Cash Flow and Financial Position - Cash and cash equivalents as of June 30, 2024, were approximately $36.8 million, slightly down from $36.9 million at the end of 2023, with no outstanding debt[91][107]. - Cash used in investing activities was $1.2 million for the six months ended June 30, 2024, compared to $1.0 million in the same period of 2023[94]. - Cash provided by financing activities was $0.6 million for the six months ended June 30, 2024, while $2.5 million was used in financing activities in the same period of 2023[95]. - The company believes its existing cash and cash equivalents will be sufficient to meet anticipated cash requirements for at least the next 12 months[107]. - The company may need additional funding in the future, which could impact planned activities if not secured[106][108]. - The company has no committed sources of funding and there is no assurance that additional funding will be available on acceptable terms[107]. Market and Competitive Risks - The company faces risks related to competition and the ability to sustain profitability amid market uncertainties[110]. - The semiconductor industry is currently experiencing a worldwide shortage of components, which could lead to increased costs and extended lead times for Everspin's products[125]. - Increased competition in the semiconductor market is expected, which may lead to price pressure and reduced revenue[138]. - The company faces risks related to unpredictable revenue and increased expenses due to the competitive nature of the semiconductor industry and macroeconomic factors[114]. - The company must continuously develop new products to remain competitive, and failure to market these effectively could materially impact its financial condition[129]. Operational Risks - Everspin relies on a single foundry, GLOBALFOUNDRIES, for higher density products, which may not have sufficient capacity to meet customer demand[116]. - The company faces risks related to manufacturing yields, which can significantly impact production costs and operating results[144]. - Transitioning to new wafer fabrication process technologies may result in reduced manufacturing yields and increased expenses[148]. - The loss of customers or reduced orders could significantly adversely affect Everspin's operations and financial results[135]. - Securing design wins is a lengthy and competitive process, and delays in this process could lead to revenue declines for Everspin[131]. Regulatory and Compliance Risks - The company may incur substantial costs related to compliance with environmental regulations, which could restrict business expansion[181]. - The semiconductor memory industry is subject to various governmental regulations that could impose additional compliance costs and risks[181]. - The company must comply with evolving industry standards and technical requirements, which could require significant redesign efforts[153]. - The company may face challenges in verifying the origins of conflict minerals used in its products, which could harm its reputation and customer relationships[185]. Strategic and Growth Risks - The company is seeking to expand international operations, which exposes it to various regulatory, economic, and political risks[159]. - The ability to attract and retain key employees is critical for the company's growth and execution of business strategies[155]. - Significant investments in new technologies and products may not achieve profitability or technological feasibility, potentially harming revenue growth[171]. Financial and Stock Risks - The market price of the company's common stock is expected to be highly volatile, influenced by various factors including product introductions and market conditions[187]. - The company has approximately $96.2 million in federal net operating loss carryforwards, with $55.8 million expiring between 2028 and 2037 if not utilized[186]. - The company has state net operating loss carryforwards of approximately $48.7 million, with $45.9 million expiring between 2028 and 2043 if not utilized[186]. - The company may incur significant additional costs if exclusive forum provisions in its amended certificate of incorporation are challenged in other jurisdictions[196]. - The company’s board has the authority to issue undesignated preferred stock, which could impede acquisition attempts[192]. External Risks - The military conflict in Ukraine has led to sanctions and tariffs that may cause inflationary pressures and supply chain disruptions for the company[198]. - Recent inflation rates in the United States have reached levels not seen in decades, prompting federal actions that affect capital markets[198]. - The company’s operations may be disrupted by natural disasters, industrial accidents, and public health issues, which could impair business continuity[199]. - The company may not have adequate insurance to cover losses from catastrophic events, which could seriously impair its financial condition[199]. - The company relies on a network of suppliers and distributors, and any financial difficulties faced by these partners could adversely affect its business[197].

Financial Performance - Q2 2024 total revenue was $10.6 million, down from $15.7 million in Q2 2023, aligning with guidance[1][2] - MRAM product sales were $9.9 million, compared to $13.4 million in Q2 2023, reflecting a decrease of approximately 26.1%[2] - Gross margin for Q2 2024 was 49.0%, down from 58.4% in Q2 2023[2] - GAAP net loss for Q2 2024 was $2.5 million, or $0.12 per basic share, compared to net income of $3.9 million, or $0.18 per diluted share in Q2 2023[2][3] - Adjusted EBITDA showed a loss of $0.2 million, a significant decline from $5.4 million in Q2 2023[2] - Net loss for six months ended June 30, 2024, was $2,704,000 compared to a net income of $4,646,000 for the same period in 2023[15] - Adjusted EBITDA for six months ended June 30, 2024, was $1,743,000, down from $7,746,000 in the same period of 2023[16] Cash Flow and Assets - The company reported a cash flow from operations of $1.7 million for the quarter, maintaining a debt-free balance sheet[3] - Cash provided by operating activities for six months ended June 30, 2024, was $428,000, a significant decrease from $7,531,000 in the prior year[15] - Cash and cash equivalents at the end of the period were $36,764,000, up from $30,830,000 at the end of June 30, 2023[15] - Total current assets decreased to $55.4 million as of June 30, 2024, from $57.9 million at the end of 2023[10] - Total liabilities decreased to $9.1 million as of June 30, 2024, down from $13.4 million at the end of 2023[11] Future Projections - For Q3 2024, Everspin expects total revenue between $11.5 million and $12.5 million, with GAAP net loss per basic share projected to be between $0.05 and $0.10[3] Operational Changes - Everspin is experiencing increased design activity in the European and Asia Pacific regions, particularly with its PERSYST STT-MRAM product family[1] Inventory and Liabilities - Accounts receivable increased by $1,440,000 for six months ended June 30, 2024, compared to an increase of $1,639,000 in the same period of 2023[15] - Inventory changes resulted in a $404,000 increase for six months ended June 30, 2024, compared to a decrease of $662,000 in the same period of 2023[15] - Accrued liabilities increased by $2,628,000 for six months ended June 30, 2024, compared to an increase of $701,000 in the same period of 2023[15] Stock-Based Compensation - Stock-based compensation increased to $3,576,000 for six months ended June 30, 2024, compared to $2,420,000 for the same period in 2023[15] Debt Management - Payments on long-term debt were $0 for the six months ended June 30, 2024, compared to $2,790,000 in the same period of 2023[15]

Revenue Performance - Total revenue decreased by $0.4 million, or 2.8%, from $14.8 million in Q1 2023 to $14.4 million in Q1 2024, primarily due to a $2.9 million decrease in product sales[73]. - Product sales accounted for $10.9 million, or 75% of total revenue in Q1 2024, down from $13.8 million, or 93% in Q1 2023[69]. - Licensing, royalty, patent, and other revenue increased by $2.5 million, or 234%, from $1.1 million in Q1 2023 to $3.6 million in Q1 2024, driven by RAD-Hard projects[74]. Expenses - Research and development expenses rose by $0.2 million, or 6.8%, from $3.2 million in Q1 2023 to $3.4 million in Q1 2024, primarily related to the new xSPI family of STT-MRAM products[79]. - General and administrative expenses increased by $0.8 million, or 25.3%, from $3.2 million in Q1 2023 to $4.0 million in Q1 2024, mainly due to stock-based compensation and professional services[81]. - Operating expenses increased to $8.76 million in Q1 2024, up from $7.73 million in Q1 2023, representing 61% of total revenue[69]. - Sales and marketing expenses remained consistent at $1.3 million for both Q1 2024 and Q1 2023, representing 9% of revenue[83]. Profitability - The net loss for Q1 2024 was $202,000 compared to a net income of $761,000 in Q1 2023[69]. - Gross margin slightly decreased from 56.8% in Q1 2023 to 56.5% in Q1 2024 due to reduced product sales and increased supplier pricing[77]. Cash Flow and Financial Position - As of March 31, 2024, cash and cash equivalents totaled $34.8 million, down from $36.9 million as of December 31, 2023, with no outstanding debt[86]. - Cash used in operating activities was $1.3 million in Q1 2024, compared to cash provided of $1.2 million in Q1 2023[89][90]. - Cash used in investing activities was $1.2 million in Q1 2024, reflecting purchases of manufacturing equipment, compared to $1.0 million in Q1 2023[91]. - Cash provided by financing activities was $0.4 million in Q1 2024, consisting of proceeds from the exercise of employee stock options, compared to cash used of $2.8 million in Q1 2023[92]. Other Financial Metrics - Total cost of sales decreased by $0.146 million, or 2.3%, from $6.416 million in Q1 2023 to $6.270 million in Q1 2024[75]. - Interest expense decreased by $0.1 million, or 100%, from $0.1 million in Q1 2023 to $0 in Q1 2024 due to the full repayment of the 2019 Credit Facility[84]. - Other income, net increased by $0.3 million, or 210.9%, from $0.4 million in Q1 2023 to $0.7 million in Q1 2024, primarily due to increased interest income[85]. Operational Challenges - The company continues to navigate the impacts of COVID-19, particularly in some Asian countries, while monitoring supply chain constraints[66].

Financial Data and Key Metrics Changes - The company reported revenue of $14.4 million for Q1 2024, slightly down from $14.8 million in Q1 2023, but near the high end of the guidance range of $13.5 million to $14.5 million [7][48] - Adjusted EBITDA was $1.9 million compared to $2.3 million in Q1 2023 [8] - GAAP gross margin was 56.5%, relatively flat compared to 56.8% in Q1 2023 [75] - Operating expenses increased to $8.8 million from $7.7 million in Q1 2023, resulting in a net loss of $0.2 million or $0.01 per diluted share, compared to a net income of $0.8 million or $0.04 per diluted share in Q1 2023 [75] Business Line Data and Key Metrics Changes - MRAM product sales, including both Toggle and STT-MRAM revenue, were $10.9 million, down from $13.8 million in Q1 2023 [51] - Licensing, royalty, patent, and other revenue increased to $3.6 million from $1.1 million in Q1 2023 [51] Market Data and Key Metrics Changes - The company noted continued economic weakness in the Asia Pacific region, impacting customer demand and project schedules [6][72] - The STT data center product bookings in 2024 are expected to exceed those of 2023, indicating a positive trend in this segment [15] Company Strategy and Development Direction - The company expects a ramp in Toggle and STT-MRAM design wins in the second half of 2024, with revenue recognition anticipated from these design wins [5][30] - The company is pursuing funding under the CHIPS and Science Act to enhance its manufacturing capabilities for Toggle and STT-MRAM products [73] - The company is focused on growing its Toggle, MRAM, and DRAM products while recognizing revenue from STT-MRAM technology [76] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the second half of 2024, expecting to recognize revenue from design wins despite a slower start to the year due to macroeconomic challenges [6][30] - The company is encouraged by recent traction and leads generated from industry events, indicating potential growth opportunities [50] Other Important Information - The company ended the quarter with cash and cash equivalents of $34.8 million, down from $36.9 million in the previous quarter, attributed to investments in new products and facilities [8] - The company is currently engaged in two radiation hard programs using STT-MRAM technology, with expectations for continued revenue recognition from these projects [49] Q&A Session Summary Question: What gives confidence on the second half ramp? - Management noted that bookings for STT data center products are expected to exceed 2023 levels, contributing to confidence in the second half ramp [15] Question: What drove the miss in Q2 guidance? - The decline in guidance was attributed to lower RAD-Hard revenue not being incorporated into Q2, as no new RAD-Hard projects have been signed yet [35] Question: Can you elaborate on the Toggle MRAM reliability project? - Management confirmed that they expect to continue the project in Q2, pending funding from the US government agency [60] Question: What is the visibility on product gross margins? - Management indicated that product gross margins have been healthy, with expectations for improvement as new products ramp up [90] Question: Are lead times back to pre-pandemic levels? - Lead times have returned to pre-pandemic levels, approximately 26 to 27 weeks [108]

Financial Performance - Q1 2024 revenue was $14.4 million, close to the high end of guidance, compared to $14.8 million in Q1 2023[6] - MRAM product sales totaled $10.9 million, down from $13.8 million in the same quarter last year[6] - Licensing, royalty, patent, and other revenue increased to $3.6 million from $1.1 million in Q1 2023[6] - Gross margin for Q1 2024 was 56.5%, slightly down from 56.8% in Q1 2023[6] - GAAP net loss was $0.2 million, or $(0.01) per diluted share, compared to net income of $0.8 million, or $0.04 per diluted share, in Q1 2023[6] - The company reported an Adjusted EBITDA of $1.9 million, down from $2.3 million in Q1 2023[6] Future Outlook - For Q2 2024, Everspin expects total revenue between $10.0 million and $11.0 million, with a GAAP net loss per share between $(0.14) and $(0.09)[4] - Everspin has secured design wins with IBM for its PERSYST STT-MRAM solution, expected to ramp in the second half of 2024[2] Assets and Liabilities - Total current assets decreased to $56.4 million as of March 31, 2024, from $57.9 million at the end of 2023[16] - Total liabilities decreased to $10.4 million as of March 31, 2024, from $13.4 million at the end of 2023[16]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Washington, D.C. 20549 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-37900 Everspin Technologies, Inc. (Exact name of Registrant as specified in its Charter) (State or other jurisdicti ...

Everspin Technologies, Inc. (NASDAQ:MRAM) Q4 2023 Earnings Conference Call February 28, 2024 5:00 PM ET Company Participants Sanjeev Aggarwal - President & Chief Executive Officer Anuj Aggarwal - Chief Financial Officer Conference Call Participants Neil Young - Needham & Company Operator Good afternoon, and welcome to the conference call to discuss Everspin Technologies Fourth Quarter and Full Year 2023 Financial Results. At this time, all participants are in a listen-only mode. At the conclusion of today’s ...