Latest news with #Everspin
Korea Herald
26-05-2025
- Korea Herald
After SKT data hack, no. of malicious apps trying to hack devices spikes
Increasing number of hacking apps pretend to be Korea Consumer Agency, suspected to be 'organized distribution' South Korea is seeing an increasing number of malicious mobile applications disguised as state or private consumer rights agencies, in the aftermath of a massive hacking attacks against SK Telecom. Local cyber security company Everspin said Monday that its Fake Finder service that detects malicious apps has found a substantial increase in programs distributed under pretense of helping consumers, who were affected by the recent data breach made public on April 22. Detections of fake apps falsely named the government-affiliated Korea Consumer Agency had been fluctuating to peak at just under 400 times in April, but the number spiked as high as 671 times between May 11 and May 18. The fake apps used in voice phishing in which victims are told their devices have been hacked via phone and text message, and are encouraged to install the malicious applications as a remedy. The attacks involve fake apps, including one carrying the name of SK Shielders, a cybersecurity company that is part of the SK Group and controlled by the SK Telecom. According to Everspin, four different malicious fake apps have been used to illegally obtain personal information, one of which was designed to intercept calls made to financial authorities and police. "Apps similarly named to (actual companies and government agencies) have been consistently detected in the past, but the recent numbers clearly indicate an organized distribution riding on a certain social issue," the security company said. IIn one of the largest consumer data breach cases in Korean history, SK Telecom's systems have been breached by yet-unidentified group of hackers since June of 2022. It is thought that 9.82 gigabytes of sensitive SIM-related data related to well over 20 million users have been stolen by the hackers.
Yahoo
01-05-2025
- Business
- Yahoo
Everspin Technologies Inc (MRAM) Q1 2025 Earnings Call Highlights: Surpassing Revenue ...
Revenue: $13.1 million, above guidance range of $12 million to $13 million. Non-GAAP EPS: $0.02 per diluted share. MRAM Product Sales: $11.0 million. Licensing, Royalty, Patent, and Other Revenue: $2.1 million, down from $3.6 million in Q1 2024. GAAP Gross Margin: 51.4%, down from 56.5% in Q1 2024. GAAP Operating Expenses: $8.7 million. Non-GAAP Net Income: $0.4 million. Cash and Cash Equivalents: $42.2 million. Cash Flow from Operations: $1.4 million. Q2 2025 Revenue Guidance: $12.5 million to $13.5 million. Q2 2025 GAAP Net Loss Guidance: Between $0.05 loss and breakeven per basic share. Q2 2025 Non-GAAP Net Income Guidance: Between breakeven and $0.05 per basic share. Warning! GuruFocus has detected 4 Warning Signs with MRAM. Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Everspin Technologies Inc (NASDAQ:MRAM) reported first-quarter revenue of $13.1 million, exceeding their guidance range. The company achieved a non-GAAP EPS of $0.02, surpassing expectations. Everspin continues to see strong product revenue, particularly from the PERSYST 1-gigabit STT-MRAM used in data center applications. The company is involved in significant projects with major automotive and aerospace clients, including Lucid Motors and Blue Origin. Everspin's balance sheet remains strong and debt-free, with cash and cash equivalents of $42.2 million. Licensing, royalty, patent, and other revenue decreased to $2.1 million from $3.6 million in Q1 2024. Gross margin decreased to 51.4% from 56.5% in Q1 2024 due to a lower mix of high-margin licensing revenue. The company anticipates a non-GAAP net loss per basic share between $0.05 and breakeven for Q2 2025. Everspin's revenue is expected to be more heavily weighted towards the second half of 2025, indicating potential short-term challenges. There is uncertainty regarding potential tariff impacts, particularly concerning products manufactured in the US and shipped to China. Q: Can you explain the potential impact of tariffs on your second-quarter guidance, especially concerning China? A: William Cooper, Chief Financial Officer, explained that while some wafers are sourced from GlobalFoundries in Germany and others from the US and Taiwan, direct sales to China are minimal. Therefore, the impact of tariffs is expected to be low. Most products are assembled in Taiwan, and the importer would be responsible for tariffs. Q: Are you seeing signs of a cyclical recovery in the industrial segment of your business? A: William Cooper, Chief Financial Officer, confirmed that there are signs of improvement in backlog and traction on STT-MRAM products, indicating a potential cyclical recovery in the industrial segment. Q: Can you provide insights into the gross margin dynamics and expectations for the rest of the year? A: William Cooper, Chief Financial Officer, noted that the gross margin was consistent between Q4 and Q1 at around 51%. He expects this consistency to continue throughout the year, maintaining a 50-plus gross margin. Q: What factors are contributing to the expected second-half weighting of revenue in 2025? A: Sanjeev Aggarwal, President and CEO, mentioned that the backlog is building up, and there is a conversion of design wins into early production for STT products. This, along with the bottoming out of inventory correction, supports the expectation of higher revenue in the second half of 2025. Q: How should we view operating expenses for the rest of the year? A: William Cooper, Chief Financial Officer, indicated that operating expenses are expected to remain in the same range throughout the year, with some product development work contributing to the expenses. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
01-05-2025
- Business
- Yahoo
Everspin Technologies Inc (MRAM) Q1 2025 Earnings Call Highlights: Surpassing Revenue ...
Revenue: $13.1 million, above guidance range of $12 million to $13 million. Non-GAAP EPS: $0.02 per diluted share. MRAM Product Sales: $11.0 million. Licensing, Royalty, Patent, and Other Revenue: $2.1 million, down from $3.6 million in Q1 2024. GAAP Gross Margin: 51.4%, down from 56.5% in Q1 2024. GAAP Operating Expenses: $8.7 million. Non-GAAP Net Income: $0.4 million. Cash and Cash Equivalents: $42.2 million. Cash Flow from Operations: $1.4 million. Q2 2025 Revenue Guidance: $12.5 million to $13.5 million. Q2 2025 GAAP Net Loss Guidance: Between $0.05 loss and breakeven per basic share. Q2 2025 Non-GAAP Net Income Guidance: Between breakeven and $0.05 per basic share. Warning! GuruFocus has detected 4 Warning Signs with MRAM. Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Everspin Technologies Inc (NASDAQ:MRAM) reported first-quarter revenue of $13.1 million, exceeding their guidance range. The company achieved a non-GAAP EPS of $0.02, surpassing expectations. Everspin continues to see strong product revenue, particularly from the PERSYST 1-gigabit STT-MRAM used in data center applications. The company is involved in significant projects with major automotive and aerospace clients, including Lucid Motors and Blue Origin. Everspin's balance sheet remains strong and debt-free, with cash and cash equivalents of $42.2 million. Licensing, royalty, patent, and other revenue decreased to $2.1 million from $3.6 million in Q1 2024. Gross margin decreased to 51.4% from 56.5% in Q1 2024 due to a lower mix of high-margin licensing revenue. The company anticipates a non-GAAP net loss per basic share between $0.05 and breakeven for Q2 2025. Everspin's revenue is expected to be more heavily weighted towards the second half of 2025, indicating potential short-term challenges. There is uncertainty regarding potential tariff impacts, particularly concerning products manufactured in the US and shipped to China. Q: Can you explain the potential impact of tariffs on your second-quarter guidance, especially concerning China? A: William Cooper, Chief Financial Officer, explained that while some wafers are sourced from GlobalFoundries in Germany and others from the US and Taiwan, direct sales to China are minimal. Therefore, the impact of tariffs is expected to be low. Most products are assembled in Taiwan, and the importer would be responsible for tariffs. Q: Are you seeing signs of a cyclical recovery in the industrial segment of your business? A: William Cooper, Chief Financial Officer, confirmed that there are signs of improvement in backlog and traction on STT-MRAM products, indicating a potential cyclical recovery in the industrial segment. Q: Can you provide insights into the gross margin dynamics and expectations for the rest of the year? A: William Cooper, Chief Financial Officer, noted that the gross margin was consistent between Q4 and Q1 at around 51%. He expects this consistency to continue throughout the year, maintaining a 50-plus gross margin. Q: What factors are contributing to the expected second-half weighting of revenue in 2025? A: Sanjeev Aggarwal, President and CEO, mentioned that the backlog is building up, and there is a conversion of design wins into early production for STT products. This, along with the bottoming out of inventory correction, supports the expectation of higher revenue in the second half of 2025. Q: How should we view operating expenses for the rest of the year? A: William Cooper, Chief Financial Officer, indicated that operating expenses are expected to remain in the same range throughout the year, with some product development work contributing to the expenses. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
10-03-2025
- Automotive
- Yahoo
Everspin Expands High-Reliability MRAM Portfolio with New Automotive-Grade Offerings
New PERSYST EM064LX and EM128LX HR STT-MRAM Expanding Use in Aerospace, Automotive, and Industrial Applications Unveiled at Embedded World 2025 CHANDLER, Ariz., March 10, 2025--(BUSINESS WIRE)--Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading developer and manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions, today announced its latest high-reliability MRAM expansion. The newest additions to the PERSYST EMxxLX family, the EM064LX HR and EM128LX HR, will operate at temperatures from -40°C to +125°C, meeting the AEC-Q100 Grade 1 standard for automotive applications. This expanded temperature range addresses the growing demand for persistent, high-speed memory in aerospace, defense, and extreme industrial environments. "As embedded systems continue to push the boundaries of reliability and endurance, memory technology must keep pace with extreme operating environments," said Sanjeev Aggarwal, President and CEO at Everspin Technologies. "Our latest high-reliability PERSYST MRAM provides designers with a robust, fast, and scalable alternative to Static RAM or NOR flash, ensuring mission success in automotive, aerospace, and industrial applications." The rapid expansion of Low Earth orbit (LEO) satellite deployments is driving demand for high-reliability memory solutions capable of withstanding extreme operating conditions, including tolerance to radiation. With LEO satellites playing an increasing role in infrastructure and connectivity, memory solutions that offer high-speed performance, extended endurance, and resilience to extreme temperatures are essential for ensuring mission success. "Everspin's MRAM has proven to be an optimal solution for demanding space exploration and LEO satellite missions," said Billy Wahng, Chief Technology Officer of Astro Digital. "The addition of the HR high-rel version will give us the option to broaden the operating range of our systems." Everspin's PERSYST MRAM has been widely adopted for almost two decades in critical storage applications, recognized for its high endurance and reliability. As the fastest MRAM available in its temperature range, the latest PERSYST expansion delivers the performance and durability required for next-generation embedded systems: Capacities of 64Mb and 128Mb – Optimized for mission-critical systems. Quad SPI Interface – Industry-standard compatibility for easy integration. Faster Write Speeds vs. NOR Flash – Reducing system overhead in real-time applications. Simpler architecture – No erase required enhancing system utilization. Engineering samples of the EM064LX and EM128LX HR will be available in June 2025, with full production scheduled for late 2025. Everspin marks a decade of participation at Embedded World, underscoring its commitment to embedded system developers and industry-leading persistent memory solutions. This year attendees can explore real-world MRAM applications through interactive demonstrations at Everspin's booth 4-360: PERSYST EMxxLX Showcase – Featuring the new high-reliability product expansion. OpenMV Camera Application – Utilizing MRAM for embedded vision systems. Evaluation Board Demo – Developed with Arrow, Lattice, and MAS Elettronica. Customer Use Cases – Highlighting MRAM's integration in mission-critical applications. Visit Booth 4-360 at Embedded World 2025 to learn more about Everspin's PERSYST MRAM solutions or visit About Everspin Technologies Everspin Technologies, Inc., is the world's leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry's most robust, highest-performance, non-volatile memory for Industrial IoT, Data Centers, and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit View source version on Contacts Agency Contact:KiterocketStephanie QuinnT: 480-316-8370E: squinn@
