MRAM

Search documents
Everspin (NasdaqGM:MRAM) 2025 Conference Transcript
2025-09-16 19:02
Everspin Technologies Q3 Investor Summit Summary Company Overview - Everspin Technologies is a leading provider of embedded technology and products for mission-critical applications, focusing on end-to-end supply from design to manufacturing [2][3] - The company has been in production for over 15 years, having shipped over 115 million units to more than 2,000 customers globally [3] Core Business and Technology - Everspin specializes in MRAM (Magnetoresistive Random Access Memory), which is radiation immune and used in various applications including data centers, industrial automation, IoT, automotive, and aerospace [3][4] - The company holds over 650 patents and has a strong financial position with zero debt and positive free cash flow [4][5] Market Opportunity - The total addressable market (TAM) for Everspin's products is projected to exceed $4.3 billion by 2029, with significant growth in sectors such as automotive, industrial automation, and aerospace [5][10] - Everspin aims to capture a revenue of $100 million by 2029, up from approximately $55 to $60 million currently [11][25] Product Categories 1. **Persist**: Designed for applications requiring fast read/write speeds and extreme temperature resilience, used in industrial automation and casino gaming [6][7] 2. **Genesis**: Aimed at replacing NOR flash memory, with production expected to start in 2026, targeting a $3.5 billion market [8][10] 3. **AgILYST**: Focused on AI applications with SRAM-like performance, expected to enter production in a few years [9][10] Key Applications - Automotive: Used in battery management systems and real-time monitoring for vehicles [12][13] - Aerospace: Designed into NASA missions and various flight control systems [15][18] - Industrial Automation: Enhances reliability and efficiency in manufacturing processes [14][20] Financial Performance - Everspin reported revenue of $26 million in the first half of 2025, with expectations to maintain a strong revenue range of $50+ million [25][26] - The company has consistently achieved gross margins in the upper 40% to 50% range [26] Business Model - Approximately 85% to 90% of Everspin's revenue comes from product sales, distributed evenly across Asia, Europe, and North America [30] - The company focuses on sectors such as industrial, gaming, medical, avionics, and data centers [31] Milestones and Future Outlook - Everspin has developed a range of memory technologies since its inception, with significant milestones including the introduction of data logging memory in 2006 and data center memory in 2017/2018 [32][34] - The company aims to revolutionize the memory market with its MRAM technology, addressing various memory needs across different applications [34] Conclusion - Everspin Technologies is positioned for growth in the MRAM market, with a strong product pipeline and a focus on mission-critical applications across multiple industries [38]
突破DRAM和SRAM瓶颈
半导体行业观察· 2025-08-29 00:44
Core Viewpoint - The article argues for a paradigm shift from traditional memory hierarchies to specialized memory architectures that leverage application-specific access patterns, proposing two new memory categories: Long-term RAM (LtRAM) and Short-term RAM (StRAM) [2][4][45]. Group 1: Current Memory Landscape - SRAM and DRAM have reached fundamental physical limitations, halting their scalable development, which has made memory a major bottleneck in performance, power consumption, and cost for modern computing systems [4][10]. - DRAM accounts for over 50% of server hardware costs, highlighting the economic impact of memory limitations [4][10]. - The rise of memory-intensive workloads, particularly in artificial intelligence, exacerbates the challenges posed by the stagnation of SRAM and DRAM [4][10]. Group 2: Proposed Memory Categories - LtRAM is designed for persistent, read-intensive data with long lifecycles, while StRAM is optimized for transient data that is frequently accessed and has short lifecycles [12][26]. - These categories allow for tailored performance optimizations based on specific workload requirements, addressing the mismatch between current memory technologies and application needs [12][26]. Group 3: Emerging Memory Technologies - New memory technologies such as RRAM, MRAM, and FeRAM offer different trade-offs in density, durability, and energy consumption, making them suitable for various applications but not direct replacements for SRAM or DRAM [16][21]. - RRAM can achieve density up to 10 times that of advanced HBM4 configurations, indicating significant scalability advantages [20][21]. Group 4: Workload Analysis and Memory Access Patterns - Analyzing memory access patterns is crucial for identifying opportunities for specialization, as seen in workloads like large language model inference, which is read-intensive and requires high bandwidth [28][30]. - Server applications and machine learning workloads exhibit diverse memory access patterns that can benefit from specialized memory technologies [29][31]. Group 5: System Design Challenges - The introduction of LtRAM and StRAM presents new research challenges, including how to expose memory characteristics to software without increasing complexity [35][37]. - Data placement strategies must adapt to heterogeneous memory systems, requiring fine-grained analysis of data lifecycles and access patterns [38][39]. Group 6: Power Consumption and Efficiency - Memory specialization can lead to significant power savings by aligning storage unit characteristics with workload demands, thus reducing static power and data movement costs [41][43]. - The increasing power density in data centers necessitates innovative cooling solutions and power management strategies to support high-performance computing [43][44].
驰拓科技MRAM将重磅亮相2025深圳国际电子展
半导体行业观察· 2025-08-13 01:38
Core Viewpoint - MRAM technology is emerging as a new generation of storage solutions, with Zhejiang Chituo Technology leading the development and manufacturing of MRAM chips in China, showcasing its latest products at the 2025 Shenzhen International Electronics Exhibition [1][9]. Group 1: MRAM Technology Advantages - MRAM utilizes magnetic materials to represent binary data, offering advantages such as high speed, low power consumption, high endurance, radiation resistance, and reliability [1]. - Chituo's MRAM products maintain data integrity for over ten years at 125°C, operate in a temperature range of -40 to +125°C, support over one trillion write cycles, and achieve a yield rate of 95% for large capacity arrays with sub-ppm failure rates [1]. Group 2: Embedded and Standalone MRAM - The embedded eMRAM can replace eFlash in MCU/SoC applications, with industry consensus indicating that 28/22nm will be the last cost-effective nodes for eFlash, while eMRAM can extend to 28nm and beyond [2]. - Chituo's eMRAM combines DRAM-like read/write speeds, non-volatility of flash memory, and SRAM-compatible interface characteristics, making it suitable for high-performance applications in industrial control, automotive electronics, identity authentication, and smart wearables [2]. Group 3: Product Series and Applications - Chituo's standalone MRAM is categorized into multiple series based on capacity, interface, and packaging, and has been adopted by leading users in various industries such as industrial control, power, and metering [5]. - The company is also at the forefront of research on the next generation of MRAM, specifically Spin-Orbit Torque MRAM (SOT-MRAM), and has proposed a groundbreaking device structure suitable for large-scale manufacturing [7]. Group 4: Company Overview - Zhejiang Chituo Technology is the first company in China to achieve mass production of MRAM, with a 12-inch MRAM pilot production line and a comprehensive platform for the research and industrialization of new storage chips [8].
MCU,巨变
半导体行业观察· 2025-07-13 03:25
Core Viewpoint - The article discusses the significant shift in the automotive MCU market with the introduction of new embedded storage technologies like PCM and MRAM, moving away from traditional embedded Flash technology. This transition is seen as a strategic move that will have a profound impact on the MCU ecosystem [1][3]. New Storage Pathways - Major MCU manufacturers such as ST, NXP, and Renesas are launching new automotive MCU products featuring advanced embedded storage technologies, indicating a shift from traditional 40nm processes to more advanced nodes like 22nm and 16nm [2]. - The evolution of MCUs is characterized by increased integration of AI acceleration, security units, and wireless modules, positioning them as central components in automotive applications [2]. Embedded Storage Technology Revolution - The rise of embedded non-volatile memory (eNVM) technologies is crucial for addressing the challenges posed by the complexity of software-defined vehicles (SDVs) and the increasing demands for storage space and read/write performance [3]. - Traditional Flash memory is becoming inadequate in terms of density, speed, power consumption, and durability, making new storage solutions essential for MCU advancement [3]. ST's Adoption of PCM - ST has introduced the Stellar series of automotive MCUs featuring phase change memory (PCM), which offers significant advantages over traditional storage technologies [5][6]. - The Stellar xMemory technology is designed to simplify the development process for automotive manufacturers by reducing the need for multiple memory options and associated costs [7][9]. NXP and Renesas Embrace MRAM - NXP has launched the S32K5 series, the first automotive MCU based on 16nm FinFET technology with integrated MRAM, enhancing the performance and flexibility of ECU programming [10]. - Renesas has also released a new MCU with MRAM, emphasizing high durability, data retention, and low power consumption, further showcasing the advantages of MRAM technology [11]. TSMC's Dual Focus on MRAM and RRAM - TSMC is advancing both MRAM and RRAM technologies, aiming to replace traditional eFlash in more advanced process nodes due to the limitations faced by eFlash technology [15]. - TSMC has achieved mass production of RRAM at various nodes and is actively developing MRAM for automotive applications, indicating a strong commitment to new storage technologies [15][16]. Integration of Storage and Computing - The article highlights a trend towards "storage-computing integration," where new storage technologies like PCM and MRAM are not just replacements but catalysts for MCU architecture transformation [19]. - The merging of storage and computing functions is becoming increasingly important in the context of AI, edge computing, and the growing complexity of computational tasks [21]. Conclusion - The MCU landscape is evolving from a focus on basic control systems to a more integrated approach where storage plays a critical role in computing architecture, driven by advancements in embedded storage technologies [23]. - This transformation presents both challenges and opportunities for domestic MCU manufacturers, who must adapt to the rapidly changing technological landscape [23].
Everspin (MRAM) Earnings Call Presentation
2025-06-27 13:00
Company Overview & Technology - Everspin is a leading provider of MRAM technology and products for mission-critical applications[6] - The company has shipped over 150 million MRAM units[7] - MRAM combines the performance of memory with the persistence of storage[19] - MRAM is suitable for harsh environments due to its radiation and temperature resistance[37] Market Opportunity & Products - The total addressable market (TAM) for MRAM is projected to exceed $4.3 billion by 2029[10] - In 2024, PERSYST products serve a market of $1.1 billion[21] - UNISYST products address NOR Flash and Embedded Compute markets[22] - Everspin offers a range of MRAM products including Toggle-MRAM, STT-xSPI, and STT-DDRx[15] Financial Performance - In FY24, Everspin's revenue was $56.5 million[59] - Everspin's gross margin in FY24 was 51.8%[59] - Everspin's free cash flow in FY24 was $4.0 million[59]
后eFlash时代:MCU产业格局重塑
半导体芯闻· 2025-05-14 10:10
Core Viewpoint - The semiconductor industry is shifting from a singular focus on process miniaturization to diversified innovation, with advanced packaging technologies and specialty processes driving performance optimization and differentiation in the market [1][2]. Group 1: Market Trends and Growth - The global specialty process market has surpassed $50 billion, with a compound annual growth rate (CAGR) of 15%, significantly outpacing the average growth rate of the semiconductor industry [1]. - Companies like TSMC, UMC, and SMIC are accelerating their investments in specialty processes, with TSMC establishing itself as a global benchmark through its extensive technology portfolio [2][4]. Group 2: TSMC's Specialty Process Landscape - TSMC offers a comprehensive range of specialty processes, including automotive, ultra-low power (ULP)/IoT, RF, embedded non-volatile memory (eNVM), high-voltage display, and CMOS image sensors (CIS) [4]. - TSMC's automotive-grade processes are designed for high reliability and long lifecycle, supporting advanced driver-assistance systems (ADAS) and smart cockpit applications [4]. - The N4e process is optimized for ultra-low power IoT AI devices, balancing performance and cost effectively [4]. Group 3: Innovations in Non-Volatile Memory (NVM) - TSMC is addressing the limitations of traditional eFlash technology by advancing embedded NVM technologies such as RRAM and MRAM, which are expected to replace eFlash in automotive and IoT applications [6][7]. - RRAM technology is being commercialized, with TSMC's 22nm RRAM already certified for automotive applications, and 12nm RRAM expected to follow suit [6][7]. - MRAM technology is also being developed for automotive applications, with NXP and TSMC collaborating on 16nm embedded MRAM for high-end automotive MCUs [20][21]. Group 4: Competitive Landscape and Future Directions - Major MCU manufacturers are exploring various new storage technologies, including eRRAM, eMRAM, ePCM, and eFeRAM, to enhance performance and reduce power consumption [16][31]. - The market for embedded NVM is projected to grow significantly, with wafer production expected to increase from approximately 3 KWPM in 2023 to about 110 KWPM by 2029, indicating a CAGR of around 80% [29]. - TSMC plans to integrate advanced processes with specialty technologies to support the evolution of chip architecture from "functional integration" to "system reconstruction" [8][34].
特色工艺,台积电怎么看?
半导体行业观察· 2025-05-13 01:12
Core Viewpoint - The semiconductor industry is shifting from a singular focus on process miniaturization to diversified innovation, with advanced packaging and specialty processes becoming key drivers for performance optimization and differentiation [1][2]. Group 1: Specialty Processes and Market Growth - The global specialty process market has surpassed $50 billion, with a compound annual growth rate (CAGR) of 15%, significantly outpacing the average growth rate of the semiconductor industry [1]. - Specialty processes focus on customized and diverse process optimizations, achieving a precise balance of performance, power consumption, and cost, particularly in demanding fields like automotive electronics and IoT [1]. Group 2: TSMC's Leadership in Specialty Processes - TSMC is establishing itself as a global benchmark in specialty processes through a combination of technological breadth and ecosystem depth, expanding its capabilities across various domains including automotive and RF technologies [2][4]. - TSMC's advanced logic technologies, such as N7A, N5A, and N3A, are specifically designed for automotive applications, ensuring high reliability and long lifecycle [4]. Group 3: Innovations in Embedded Non-Volatile Memory (eNVM) - TSMC is addressing the limitations of traditional eFlash memory by advancing RRAM and MRAM technologies, which are expected to replace eFlash in automotive and IoT applications [6][8]. - The introduction of RRAM and MRAM technologies allows for significant improvements in performance, reliability, and power efficiency, with TSMC's RRAM already in mass production at 40, 28, and 22 nm nodes [7][8]. Group 4: Competitive Landscape and Future Trends - Major MCU manufacturers are collaborating with foundries to leverage specialty processes, with companies like Infineon and NXP adopting eNVM technologies to enhance their product offerings [9][16]. - The market for embedded NVM is projected to grow rapidly, with wafer production expected to increase from approximately 3 KWPM in 2023 to about 110 KWPM by 2029, indicating a strong shift towards new storage technologies [26]. Group 5: Diverse Storage Technologies - Various new storage technologies, including eRRAM, eMRAM, and ePCM, are being explored by different manufacturers, each offering unique advantages in terms of speed, power consumption, and integration capabilities [30][32]. - The trend indicates a move towards a multi-storage technology ecosystem rather than a single dominant solution, reshaping the MCU landscape in the post-eFlash era [32].
7nm的FD-SOI芯片,要黄了?
半导体行业观察· 2025-03-19 00:54
Core Viewpoint - The article discusses the open call for next-generation 10nm and 7nm design projects based on Fully Depleted Silicon-On-Insulator (FD-SOI) technology, highlighting its potential to enhance the competitiveness of European semiconductor companies [1][3]. Group 1: Technology and Development - The FD-SOI technology is recognized for its ultra-low power capabilities applicable in digital, analog, and RF designs, with a transition planned from 22nm to 10nm and then to 7nm over the next two years [1]. - The FAMES FD-SOI pilot line will feature 110 pieces of equipment across four sites, including 90 pieces dedicated to 300mm wafer production, with a key immersion lithography tool set to operate from December 2023 [3][4]. - The pilot line aims to provide exploratory Process Design Kits (PDKs) for performance evaluation and multi-project wafer testing, focusing on embedded non-volatile memory technologies [5][6]. Group 2: Industry Collaboration and Impact - Participants in the initiative come from 18 countries, emphasizing a balance between industry and academia, which is crucial for fostering innovation [2]. - The project is seen as a strategic structure to support the entire EU semiconductor value chain, promoting collaboration among industry players, SMEs, startups, and research institutions [7][9]. - Major industry players like Nokia and Stellantis are involved, indicating the initiative's significance for the development of European chips and applications [8][9]. Group 3: Future Prospects - Test chips using the 10nm FD-SOI process are expected to be available by 2027, with ongoing development of specific process steps and modules [3][7]. - The focus on advanced memory technologies, such as MRAM, aims to address security applications and ultra-low power AI memory computing [6].
Everspin Technologies(MRAM) - 2024 Q4 - Earnings Call Transcript
2025-02-27 05:16
Financial Data and Key Metrics Changes - For Q4 2024, the company reported revenue of $13.2 million, exceeding guidance of $12 million to $13 million, with EPS at $0.05, at the high end of guidance [10][35] - Full year 2024 total revenue was $50.4 million, down 21% year-over-year due to lower product shipments [35] - GAAP gross margin for Q4 was 51.3%, up from 49.2% in Q3 but down from 58.1% in Q4 2023 [36] - GAAP net income for Q4 was $1.2 million, or $0.05 per diluted share, compared to $2 million, or $0.09 per diluted share in Q4 2023 [39] Business Line Data and Key Metrics Changes - MRAM product sales in Q4 were $11 million, down from $12.4 million in Q4 2023 but up from $10.4 million in Q3 2024 [35] - Licensing, royalty, patent, and other revenue decreased to $2.2 million in Q4 from $4.3 million in Q4 2023 due to project completions [36] Market Data and Key Metrics Changes - The company is seeing traction in various sectors, including aerospace, industrial automation, and automotive transportation across different geographies [18] - The low Earth orbit (LEO) market is expected to grow at a CAGR of 13%, increasing from approximately $10 billion to $23 billion by 2029, which may benefit Everspin's MRAM products [20] Company Strategy and Development Direction - Everspin aims to replace or scale NOR flash devices with STT-MRAM technology, which offers faster writes and higher endurance [25] - The company is focusing on expanding its product portfolio and technology, with a strong pipeline of design wins despite pressures on customer R&D budgets [14][15] - Everspin is also involved in partnerships to advance AI hardware and develop strategic RadHard FPGA technology [11][12] Management's Comments on Operating Environment and Future Outlook - Management expects 2025 to be weighted more heavily towards the second half due to typical seasonality and inventory consumption in Asia [32] - The company anticipates initial revenue recognition from the Purdue University project in Q1 2025, with a total project value of approximately $10.5 million over four years [67] Other Important Information - The company ended Q4 2024 with cash and cash equivalents of $42.1 million, up from $39.6 million in the prior quarter [40] - Everspin will shift its non-GAAP metrics from adjusted EBITDA to non-GAAP EPS starting in 2025 for better clarity [41] Q&A Session Summary Question: Clarification on Q1 guidance and loss per share - The anticipated loss per share is primarily due to lower other income in Q1 compared to Q4, with a significant decrease expected [49][50] Question: Revenue contributions from the Lattice partnership - The partnership with Lattice is expected to accelerate design wins and qualifications, but no direct revenue will be generated from Lattice [59][60] Question: Visibility on market recovery in Europe and Japan - Management believes that inventory levels are at the bottom and expects improvement in the second half of 2025 [62] Question: Details on the Purdue University project - The project is milestone-based, with an estimated $4 million expected in the first year, and revenue will be recognized based on achieved milestones [68] Question: Risks and opportunities in defense markets - Management has limited visibility but expects ongoing projects to continue without issues, while new projects may take time due to policy decisions [72]