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Everspin Appoints Sean Dougherty Vice President of Sales
Everspin Appoints Sean Dougherty Vice President of Sales

Yahoo

time04-08-2025

  • Business
  • Yahoo

Everspin Appoints Sean Dougherty Vice President of Sales

Veteran semiconductor executive to lead global sales and product marketing CHANDLER, Ariz., August 04, 2025--(BUSINESS WIRE)--Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading developer and manufacturer of magnetoresistive random access memory (MRAM), announced today the appointment of Sean Dougherty as Vice President of Sales, effective immediately. Dougherty brings over two decades of experience in the semiconductor industry, spanning engineering, customer enablement, and global sales leadership roles. Most recently, he served as Chief Revenue Officer of Intel's Altera division, where he led global revenue-generating functions including sales, field applications engineering, and business management. Before that, he led Altera's Worldwide Technical Customer Enablement organization, overseeing technical sales and support teams globally. In his role at Everspin, Dougherty will lead the company's sales strategy and growth, provide leadership to its sales and marketing team to secure new business while ensuring customer satisfaction. Earlier in his career, Dougherty held engineering leadership roles in the communications sector, managing teams focused on ASIC, FPGA, and system design for high-volume commercial deployments. He has a Bachelor of Science in Computer Engineering from the Wentworth Institute of Technology in Boston. David Schrenk, who has been the VP of Sales and Business Development for the last three years, will now focus his efforts exclusively on Business Development. Schrenk successfully navigated Everspin to a path of revenue growth while developing strategic partnerships, which has turned into a personal objective and passion for him. "We have reached a point in our journey where both sales execution and strategic partnerships require distinct and dedicated leadership," said Sanjeev Aggarwal, President and CEO of Everspin. "This structural change reflects our ambition to accelerate both direct revenue monetization and strategic expansion, allowing us to better serve our customers and unlock new opportunities. Sean brings a combination of engineering depth and customer-first sales leadership, and his track record of building high-performing teams and scaling revenue aligns perfectly with our next phase of growth across new and existing markets." "Everspin's MRAM solutions are solving data persistence and power challenges across industries," said Dougherty. "I'm excited to help expand that reach through deeper technical engagement, strong global partnerships and continued delivery of differentiated memory solutions." 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 NASDAQ: MRAM. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements regarding future results that involve risks and uncertainties that could cause actual results or events to differ materially from the expectations disclosed in the forward-looking statements. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the risks set forth under the caption "Risk Factors" in Everspin's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 27, 2025, and its Quarterly Reports on Form 10-Q filed with the SEC during 2025, as well as in its subsequent filings with the SEC. Any forward-looking statements made by Everspin in this press release speak only as of the date on which they are made, and subsequent events may cause these expectations to change. Everspin disclaims any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events, or otherwise, except as required by law. View source version on Contacts Media Contact: Stephanie QuinnKiterocket480-316-8370squinn@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Everspin Appoints Sean Dougherty Vice President of Sales
Everspin Appoints Sean Dougherty Vice President of Sales

Business Wire

time04-08-2025

  • Business
  • Business Wire

Everspin Appoints Sean Dougherty Vice President of Sales

CHANDLER, Ariz.--(BUSINESS WIRE)--Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading developer and manufacturer of magnetoresistive random access memory (MRAM), announced today the appointment of Sean Dougherty as Vice President of Sales, effective immediately. Dougherty brings over two decades of experience in the semiconductor industry, spanning engineering, customer enablement, and global sales leadership roles. Most recently, he served as Chief Revenue Officer of Intel's Altera division, where he led global revenue-generating functions including sales, field applications engineering, and business management. Before that, he led Altera's Worldwide Technical Customer Enablement organization, overseeing technical sales and support teams globally. In his role at Everspin, Dougherty will lead the company's sales strategy and growth, provide leadership to its sales and marketing team to secure new business while ensuring customer satisfaction. Earlier in his career, Dougherty held engineering leadership roles in the communications sector, managing teams focused on ASIC, FPGA, and system design for high-volume commercial deployments. He has a Bachelor of Science in Computer Engineering from the Wentworth Institute of Technology in Boston. David Schrenk, who has been the VP of Sales and Business Development for the last three years, will now focus his efforts exclusively on Business Development. Schrenk successfully navigated Everspin to a path of revenue growth while developing strategic partnerships, which has turned into a personal objective and passion for him. "We have reached a point in our journey where both sales execution and strategic partnerships require distinct and dedicated leadership,' said Sanjeev Aggarwal, President and CEO of Everspin. 'This structural change reflects our ambition to accelerate both direct revenue monetization and strategic expansion, allowing us to better serve our customers and unlock new opportunities. Sean brings a combination of engineering depth and customer-first sales leadership, and his track record of building high-performing teams and scaling revenue aligns perfectly with our next phase of growth across new and existing markets." "Everspin's MRAM solutions are solving data persistence and power challenges across industries," said Dougherty. "I'm excited to help expand that reach through deeper technical engagement, strong global partnerships and continued delivery of differentiated memory solutions." 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 NASDAQ: MRAM. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements regarding future results that involve risks and uncertainties that could cause actual results or events to differ materially from the expectations disclosed in the forward-looking statements. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the risks set forth under the caption "Risk Factors" in Everspin's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 27, 2025, and its Quarterly Reports on Form 10-Q filed with the SEC during 2025, as well as in its subsequent filings with the SEC. Any forward-looking statements made by Everspin in this press release speak only as of the date on which they are made, and subsequent events may cause these expectations to change. Everspin disclaims any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events, or otherwise, except as required by law.

After SKT data hack, no. of malicious apps trying to hack devices spikes
After SKT data hack, no. of malicious apps trying to hack devices spikes

Korea Herald

time26-05-2025

  • 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.

Everspin Technologies Inc (MRAM) Q1 2025 Earnings Call Highlights: Surpassing Revenue ...
Everspin Technologies Inc (MRAM) Q1 2025 Earnings Call Highlights: Surpassing Revenue ...

Yahoo

time01-05-2025

  • 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.

Everspin Technologies Inc (MRAM) Q1 2025 Earnings Call Highlights: Surpassing Revenue ...
Everspin Technologies Inc (MRAM) Q1 2025 Earnings Call Highlights: Surpassing Revenue ...

Yahoo

time01-05-2025

  • 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

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