Everspin Technologies Takes Steps Designed To Shorten Path To Profitability
Everspin Technologies, Inc. (MRAM)
Last everspin technologies, inc. earnings: 11/7 04:05 pm
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Source: Business Wire
Restructuring Targets $5 Million of Annual Cost Savings CHANDLER, Ariz.--(BUSINESS WIRE)--Everspin Technologies, Inc. (NASDAQ: MRAM), the market leader in MRAM, announced a restructuring plan designed to reduce annual operating expenditures and achieve quarterly cash flow breakeven this year under the existing revenue outlook. Headcount reductions will be enacted January 31, 2020. As a result, Everspin will take a one-time restructuring charge in the fourth quarter of 2019.The restructuring will result in an approximately 15% reduction of the workforce and is designed to maximize long-term sustainability, operational health and financial controls, while prioritizing the company’s long-term roadmap expansion and associated R&D for MRAM products and technology.In addition, Jeff Winzeler, who has served Everspin as CFO for the past five years, will step down to pursue other interests, and a search for a replacement is underway. In the interim, Matt Tenorio, Everspin Corporate Controll
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News
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- Everspin Announces Date of First Quarter 2024 Financial Results Conference CallBusiness Wire
- While institutions own 36% of Everspin Technologies, Inc. (NASDAQ:MRAM), retail investors are its largest shareholders with 38% ownership [Yahoo! Finance]Yahoo! Finance
- Everspin Technologies Unveils PERSYST, Simplifying Persistent Memory Solutions [Yahoo! Finance]Yahoo! Finance
MRAM
Earnings
- 2/28/24 - Beat
MRAM
Sec Filings
- 4/12/24 - Form ARS
- 4/12/24 - Form DEF
- 4/4/24 - Form 4
- MRAM's page on the SEC website