Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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) Delaware 26-2640654 (S ...

Financial Data and Key Metrics Changes - Everspin reported quarterly revenue of $15.7 million, a 7% increase year-over-year, exceeding the high end of guidance [11][20] - GAAP net income was $3.9 million, or $0.19 per basic share, compared to $0.8 million in Q1 2023 and $1.7 million in Q2 2022 [24] - Cash flow from operations was $6.3 million for the quarter, contributing to a year-to-date total of $7.5 million [12][26] - GAAP gross margin for Q2 2023 was 58.4%, consistent with Q2 2022 and an increase from 56.8% in Q1 2023 [23] Business Line Data and Key Metrics Changes - MRAM product sales, including Toggle and STT-MRAM revenue, totaled $13.4 million, a slight decrease from $13.8 million in the prior quarter but an increase from $13.2 million in Q2 2022 [21] - Licensing, royalties, patents, and other revenue increased to $2.3 million from $1.1 million in Q1 2023 and $1.5 million in Q2 2022 [21] Market Data and Key Metrics Changes - Shipments to suppliers for data center applications represented 7% of revenue in the quarter, down from 11% in Q1 and 15% in Q2 2022 [22] - The company continues to experience headwinds from the semiconductor downturn, impacting the data center market [14][35] Company Strategy and Development Direction - Everspin is focusing on the xSPI family of STT-MRAM products, with densities ranging from 4 megabit to 128 megabit, and plans to enhance offerings for harsher environmental conditions [12][29] - The company is also working on a high-density STT-MRAM discrete product for NOR Flash replacement, with a 1 gigabit density product scheduled for 2024 tape-out [16] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for Q3 2023, expecting total revenue between $15.4 million and $16.4 million, driven by strong demand for Toggle products and the xSPI family [27] - The backlog remains healthy, with bookings extending into the second half of 2024, despite some cancellations and pushouts being normal [37] Other Important Information - Everspin operates debt-free while increasing profitability and has a cash and cash equivalents balance of $30.8 million at the end of the quarter [25] - The company received a one-time employee retention tax credit refund of $2 million during the quarter, contributing to its positive cash flow [26] Q&A Session Summary Question: Can you elaborate on the supply chain constraints and unfilled demand? - Management acknowledged ongoing constraints on 180-nanometer products and is working closely with TSMC to fulfill demand [36] - The backlog is healthy, with new orders and increased bookings, despite some cancellations [37] Question: What is the visibility to future sales with the largest customer? - The largest customer now represents 7.3% of total revenue, with expectations that their impact will lessen as other product lines grow [40] - Management noted softness from this customer, consistent with trends in the data center market [41]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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) Delaware 26-2640654 ( ...

Everspin Technologies, Inc. (NASDAQ:MRAM) Q1 2023 Earnings Conference Call May 3, 2023 5:00 PM ET Company Participants Sanjeev Aggarwal – President and Chief Executive Officer Anuj Aggarwal – Chief Financial Officer Conference Call Participants Richard Shannon – Craig-Hallum Orin Hirschman – AIGH Operator Good afternoon and welcome to the conference call to discuss Everspin Technologies' First Quarter 2023 Financial Results. At this time, all participants are in a listen-only mode. At the conclusion of toda ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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, 2022 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 2022 Earnings Conference Call March 1, 2023 5:00 PM ET Participants Sanjeev Aggarwal - President and Chief Executive Officer Anuj Aggarwal - Chief Financial Officer Analysts Richard Shannon - Craig-Hallum Rajvindra Gill - Needham & Company John Fichthorn - Dialectic Capital Operator Good afternoon and welcome to the Conference Call to discuss Everspin Technologies Fourth Quarter and Full Year 2022 Results. At this time, all participants are in a listen-only mode. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) (Exact name of Registrant as specified in its Charter) Delaware 26-2640654 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 5670 W. Chandler Boulevard, Suite 130 Chandler, Arizona 85226 (Address of principal executive offices including zip code) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarte ...

Everspin Technologies, Inc. (NASDAQ:MRAM) Q3 2022 Earnings Conference Call November 9, 2022 5:00 PM ET Company Participants Sanjeev Aggarwal - Chief Executive Officer Anuj Aggarwal - Chief Financial Officer Conference Call Participants Nicholas Doyle - Needham Operator Good afternoon, and welcome to the conference call to discuss Everspin Technologies' Third Quarter 2022 Financial Results. At this time, all participants are in a listen-only mode. At the conclusion of today???s conference call, instructions ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 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) Delaware 26-2640654 (S ...

Everspin Technologies, Inc. (NASDAQ:MRAM) Q2 2022 Earnings Conference Call August 11, 2022 5:00 PM ET Company Participants Sanjeev Aggarwal - President & Chief Executive Officer Anuj Aggarwal - Chief Financial Officer Conference Call Participants Richard Shannon - Craig-Hallum Nicolas Doyle - Needham & Company Operator Good afternoon and welcome to the conference call to discuss Everspin Technologies Second Quarter 2022 Financial Results. [Operator Instructions] As a reminder, this conference call is being ...