MRAM - Earnings call transcript Q2 2021 | Everspin Technologies, Inc.

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Operator

Good afternoon and welcome to the conference call to discuss Everspin Technologies' Second Quarter 2021 Financial Results. At this time, all participants are in a listen-only mode. At the conclusion of today's conference call, instructions will be given for the question-and-answer session.

As a reminder, this conference call is being recorded today, Thursday, August 12, 2021.

Before we begin the call, I want to remind you that this conference call contains forward-looking statements regarding future events, including but not limited to our expectations for Everspin's future business, financial performance and goals, customer and industry adoption of MRAM technology, successfully bringing to market and manufacturing products in Everspin's design pipeline, and executing on its business plan. from based involve judgments, may risks results differ are market trends, cause statements the to and in conditions and materially forward-looking on current estimates, and actual forward-looking These statements. contained those uncertainties that investing which SEC factors other you report Everspin. second from SEC in XX-Q with filings our Form associated August on in including the our made We would SEC review we XX, filings, risk encourage filed to with may quarter discuss on XXXX, time-to-time and All date forward-looking as this of of statements are made call. these do And except law, by as required not we intent to update information. results auditors. reflect of based the financial Everspin to preliminary as on and hereof estimates, by are subject The are discussed today date further available external the its information review our and

from and are other that arising the results as of our for differ estimates financial completion the and period actual a developments adjustments, financial finalized. of may closing financial results time our materially these between now procedures, result Our this

release like Interim available Chairman ahead. go turn This Relations Executive days I'd Billerbeck. in for additional press terms. the Included during www.everspin.com. section at Everspin's measures release in EBITDA, net non-GAAP and company's loss for conference discussions of this the GAAP Darin call to and reconciliations and the of provide also financial to to the company's certain and call include will at Darin, will be and which are now, in And press of Additionally, Investor details. GAAP replay call information conference made definitions over adjusted audio statements least five CEO, Everspin's please website

Darin Billerbeck

for your thanks spending of release, first lowering on positive results in being over the was for time is XXXX income company simple as in guidance to is Being higher. at and lower GAAP positive will and the drive history. proof in a QX the gross press that if yields, the for for everyone you, milestone topline on improving QX point growing profitability, Revenue end net at joining came OpEx margin were income XX% XXXX. our key laser-focused our call levels, GAAP and mentioned is up net albeit company. higher It we QX today. Thank us revenue operator

STT due back recovers. XX% gain to For QX XXXX, slightly increasing market to continues traction down to constraints. bounced was revenue and supply the flat Toggle as

recovery and In what A weren't current we our again. continuing QX factory would suggests wins once supply be even for discussing to fact, backlog years. seems areas, Toggle higher testament couple that automation along the been shift industrial we've revenue of in constraint the new solid economic with to past be a if design the to

XXXX strength encouraged that QX customers four grow. as in with continue We QX expected and see versus continues continue on exit in revenue to for STT in grow win match total XXXX track to XXXX. regions starting to we over to for to QX. continue QX see and back did are trend industrial to backlog the and was all of in with they as track on Design wins QX QX. expectations QX in design We're line

you wins. record As was recall, for XXXX may a design

being those our focus the real turning with to continue on only the supply. opportunities into now revenue We efforts limiter industry

and continue our lowering On improvement the focus yield we everywhere. QX operations front, on cost to

capacity year to are situation about year flatten The gains our biggest continues of to We the expect as of our being at the price to worldwide. this see out gross the risk plan offset be in hikes. by supplier most the pricing through capacity the getting to end margins committed begin tight

million QX design, in in revenue we're licensing able of quarter, collected about and won some to quarter, last cash and discussed a revenue. expect quarters. couple the we Aggarwal $X.X of to and the recognize next this who rest $X you recognize we now the RAD-Hard revenue finally, the based through for our million $X did we As will quarterly I take milestones call the quarter Anuj of portion QX development Anuj? the on million remaining turn QX XXXX will financials CEO CFO, to guidance. include the interim of -- over

Anuj Aggarwal

Darin you, and Thank afternoon everyone. good

and RAD-Hard largest revenue in deal revenue royalties, the in strong and RAD-hard in the applications revenue in the from data in of $XX.X million the we quarter in in XX.X% recognized of quarter $X.X last quarter are $X.X STT quarter revenue density first revenue quarter. center the QX suppliers true-up QX XX.X% compared who XX.X% first June Toggle other first with include recognized versus improved margin. for the QX gross in financial guidance, represented in our million was second to quarter the record Revenue is for year time, million both royalty pleased top results. million in due in to We the year high customer, the $XX.X resulting offsetting revenue income million, prior ago $XX revenue quarter reflecting included the of operating product company of Highlights million compared Shipments $XX.X served to to our and sales at increase quarter, $X.X prior in second $X.X revenue MRAM The in and and of for million XXXX. $X.X previous the the $XX.XX that end and XXXX. quarter at QX. million and our versus million the for product came million net time the was reflected licensing, recognition report yearly for results GAAP which in the positive STT-MRAM, STT quarter, of to sales period. the strong end XXXX in and

the second quarter, $X.X and higher GAAP of to improved million XX.X% versus prior QX XX.X% driven GAAP quarter Turning the XXXX operating is margin development. by quarter XXXX the expenses RAD-hard in operating GAAP $X.XX million quarter recognition in second were increase revenue year the of included last the the quarter. $X.X gross versus in and year XX-nanometer was the stock-based margin, $X.X million in specifically same $X.X XXXX. expenses yields. one million million quarter of compensation million quarter quarter prior XXXX of second for product gross ago in $X.XX for compared gross ago. and XX.X% The margin in The was for and

industrial launch grow based our for We minimally, to expect other targeted of applications. R&D and prepare remainder as STT-MRAM we XXXX the of XX-nanometer at product the

the we net to loss a income of weighted $XXX,XXX basic net on time This positive first the in $X.XX XX.X share a first shares outstanding. and $X.XX company GAAP or first share net per $X.XX the compares of in quarter per margin. negative share gross operational million $X.XX of our million of reporting For GAAP of based XXXX tight share are was per history, or $X.XXX Earnings reflecting than million discipline per XXXX. a of $X.XX quarter loss our strong average better range and or guidance in

at decreased for balance $XX.X Cash for $XX.X to $XX.X the was quarter million and the end cash and of negative of the of million the XXXX. from at the prior in equivalents sheet, Turning million operations quarter $X.XX positive to the $X.X the end first million to million QX but cash second remained flow quarter, half the at at compared year.

million, a $XX.X expect year. million second to increase we third in our million this $XX.X at guidance, from of of the over represents the million which $XX.X revenue quarter range $XX.X midpoint to Turning the of the X% quarter

over STT-MRAM and We before driven expenses primarily open Darin brief to expect product related a next-generation now to between back by we commentary GAAP price and for negative XX-nanometer questions. our per I'll from $X.XX it share loss up suppliers. some negative additional it for $X.XX, turn increases

Darin Billerbeck

our -- ship could the semiconductor both QX's a the positive to throughout may testament profitable along in our in potential net and build open what year. to excited income supply Thanks Everspin by Operator, is and hard team towards extra net opportunities now put that effort to with Anuj. grow line continue In GAAP accomplished in we GAAP for network. improve costs, we questions. summary, yields, the QX, to our We're the very work you a future. we control everything constrained a

Operator

Our go from Instructions] Shannon [Operator first comes question Richard the Please of Darin. line you, Craig-Hallum. ahead. Thank from

Richard Shannon

And Hi first I'm the for and a my questions. great sure for celebrate. congratulations guys. income. this time quarter on of gaps is taking you Thanks guys to

couple questions By So, tactical hear Maybe here. little a just a quick okay on way, can for you congrats me? the line, feedback on that. the I'm getting is you?

Darin Billerbeck

you hear can we Yes, perfectly.

Anuj Aggarwal

can you. we Yes, hear

Richard Shannon

All right, Okay. good.

I'm guidance working the to right, for a here -- here. quarter feedback very a give it the way. to I this talk let's headphones go All go I'm little off lot try second, getting me my a going the of bit -- just here well. Let's on

of guessing build the licensing I quarter, the regarding the in and this RAD-Hard for So, other license math into and quarter on the much head to -- going guidance do quick numbers. couldn't revenue my how third is

So, way, happening I'll question to ask sequentially? growth are third maybe we the here going in is, product which see other quarter

Darin Billerbeck

was Yes, and grew. right, again. It's in up about was quarter, grown it then up growth the every to to up QX going answer product be about is actually QX, -- QX XX% it's

Richard Shannon

Up, yes.

Okay.

help. And that us that guidance out you the moving help way parts directionally, about us well, can here, you the as licensing maybe that can think that gross helpful. be so help then any big a move for Okay, margins within that here is would obviously, can about think

Anuj Aggarwal

is sure. This Anuj. Yes,

So, XXs to we you typically stick But margin. don't I modeling say can will mid margin, purposes, to gross about for gross margin. gross I on guide think for low

royalty and But we RAD-Hard to the increasing that some we to of true-up; yields As you seeing risk QX, some supply QX, higher mid so XXs a would way the expect low costs and that deal we're had there fair. higher is driving think in is in chain margins.

Richard Shannon

this a enough. equally more STT and it supply Thanks. Darin is is the constraints, side? quick across on fair or you impacting on question Toggle Okay, Toggle

Darin Billerbeck

QX QX, our It's as to a side, you in bit. where was flat STT Toggle the Toggle probably was more down saw quite in actually, up on

we least So, big end. we constraint. moved necessarily built this to on on -- back inventory front were Toggle end, they we issues the weren't we at through The enough STT didn't that have as able were biggest to products

like of it on and packaging some was So, tests the that. and constraints

for to mention other is to one want be company guidance because somewhat are a the thing Richard, So, trying known we conservative, lot. has been missing I

some model-in, walk been it of surprise. the too things, through increases, little and to upfront that, maybe a price front, kind what but the already are because than have but constraints we're we trying as we're pushed be on see we're increases, that these conservative going rather on costs be So, a I'd we've about to

Richard Shannon

detail. that's Okay, Appreciate that enough. fair

that's where on hear STT progressing I'd engagement ramped guess bit of capacity capacity side? Let's I your long-term. -- here, your the outlook who've and applications, see that's high to near here how bud kind customers just general love recently both little a STT-MRAMs, on questions couple of outlook a with high kind a through

Darin Billerbeck

customer, beginning Yes, you're in we of. as aware that none ramp still customers to of versions well And line. one of we're the big product smaller same have

we out year as biggest that have taped we hopefully, to and in year. albeit is next few, help one one mentioned quite end the a of the is I thing will we design starting that cluster. can as us this the we Phison that thing So, just get Again, customer, controller as that memory and, think the early have, we have don't not big before,

wants versus to So, But FPGA to everybody it's some ASIC that. on going because ramping start can larger not that use take solution. customers an some help we

Richard Shannon

be Okay. environment partner? that kind Phison as a or of you STT I And expect looking size SSD ecosystem other you're controllers, expected broader know your is for is me, still the to here there, excuse primary on how for

Darin Billerbeck

now right is of the lead. Phison, because Well, bright in they're,

through working with We are go we controllers this. as other memory

we So, that. the we difficult is best credibility do at have a people are of be more and to you're our we're some least because customer starting to lot see to can do, when trying build we to It able the that. that one size

the the and interfaces. all press people sure products to these the But -- and make can't we definitions all done. we can our of technical that we they So, things capabilities can't have get obviously,

makes them. for that So, it easier

So, is it for for we're that. been not doing last going process a -- on This year. it's it's least process all been the since got at here. We've a doing I

have which I with a of we So, is us help the next other that product, that's will interfaces a version, because all And us that helps going take lot. lower help think the lot volumes. density to STT that out version on we as thing high that have it does density our and the standardized think

have we with that pretty that have only rosy is the for us, the is future we roadmap. products not So, think to today we the STT on the enterprise also important the

Richard Shannon

but out got and and away. see queue of of Okay. a the others of the I'll I'll in questions, couple in a right if jump lot, here, And Darin. I back line Thanks step there's not,

Darin Billerbeck

Thanks, Richard. Okay.

Operator

Thank Instructions] go Please next Craig-Hallum. Richard of [Operator from you. Our question ahead. comes

Richard Shannon

Well, I right. All got back in right away.

in last this that when available I may these for something? be certain your they'll in a comments there's the some last -- if question production. we before, have should some start you're Darin -- I'm Obviously, those qualified assume time and not when asked you you products idea I've density probably But start of be -- design to markets. of of ramp One good those cycles expect STT, about to lower there, sure to but

part of overall revenue foresee do noticeable when the So, that profile? more a becoming you

Darin Billerbeck

the so before people models sampled that I late such. we'll get at the the which out year, early with models Well, would out people the help this next help reference -- least have will product and think designs year, be we'll

And early a year next year. so expect it's and as know, as this, to would going I kind probably through of design to start those move take seeing wins you we

we'll would XXXX XXXX, a but little see next I the timeframe. of bit volume to volume most the of So, year, be anticipate

Richard Shannon

on way meaningful run want there's on it your MRAM. do an can how six, that's helpful. rate months I go? is a ask of, think it today? characterize here? that that if basis Darin How ramping How And And to say, was is Okay, nine where looking expectations versus any you ago? you embedded

Darin Billerbeck

Yes, products volume foundries. today, that where to thing are high which It's going would global currently it right? not small because for well, are be, thought it's we huge, is super not potato shipping be the a

that customers, more thing the And pretty to proof more great on we're get that. on a devices is are see volume so the this well-known as are in points to they going The begin couple industry.

us. encouraging three to be two I revenue to that's another years least. So, that at to anticipate amount the huge of don't But a for

Richard Shannon

Okay. wins, think Darin which that on design equal wins year, number or had All pace guess, it'd you said I then you're maybe to right. a That's And was I question on be a great design two helpful. you record. last of of in of values go get a of to hear not there design are on seeing kind -- wins, Just the size thought wins, the a way? wins of number meaningful the value? overall expectation sense here any but up pipeline

Darin Billerbeck

the Yes, little differently. question let me a ask

were the our pretty customers ago, So, what $X we at for I were point, doing looked probably I $X and a a day, at a of was a year say review those a customers, to and to let's of year they million sales the and half five other year million looked time were because over there most big.

customers to What kind like those the XX massive thing we're the so see amount, that and really out growing growth. we needle volume. It's where a of of not would a starting there's think and at, fact total customers multiple revenue is then couple streams, a a customers because it's think diversification customers XXX,XXX and I big thing it's that's big over continuing customer that nice us reason so in they that be lower million we're potentially year to see that's smaller add. place starting versus one it's the dollars and biggest more new homes more to add a encouraging And I lot -- which while all nice moving more to and to different and to still of per really, is to starting all just quite just but thing meaningful, just were is And risk. encouraging lost last with these big that types the there's we're that's have XX% which were up. because big range, see, really a is years. of blow diverse multiple are customers that top And And customers markets. customers of the a few And I the because we're the say having these

that with base. now And thing to back customer lot see so starting more a grow you're diverse

Richard Shannon

for perspective. Darin Last me RAD-Hard one here. great quick on Okay,

I to of and this refresh market? last the my think as license, think able that when on may near eventually ship was recollections can happen? maybe RAD-Hard your or years when quarter, us announced I maybe than update you size here. of you the part what's a couple this And being But of you're future, expectation parts in potential thought it

Darin Billerbeck

Yes, to deal. this is two a three-year

and a running product fab. our was through on developing it technology So, this our

the milestones integration process and So, there's milestone. out really development model there are that

So, there's recognize a the time. lot that way sign that this is through to contracts actually are of have happens license, these written, recognize we what go to it we through activities but need then to revenue

expect at the So, revenue, off ship. we and to we'll products a you that later recognize that date, going royalties you're get actually then that

those to expect you -- timeframe, to see in going where shipments. it's the to is shipping start be products those XXXX we I'm So, XX probably argue

but So, see you'll into royalties revenue big of our see you'll it's gaining on sure, that NRE not as for milestones, stream. some the a today we're that great translate

Richard Shannon

in get Last that few pro just transition we SATCOM, a think terms in fine, should the on guess OpEx, OpEx? more to with if But the in here basis And see Okay. next here quarters I out that's see line go the but model how an including how want of I'll dollar GAAP, you of should about of it question. forma talk I terms? too. over here we

Anuj Aggarwal

Richard. question, great a that's so Yes,

seeing think, prior the see are that. supporting minimal We levels. to we expected XX-nanometer saw next-generation increases related some last quarter, increases from of an that standpoint, quarter those the were we'll kind and uptick OpEx at sustaining I an from R&D product So, in

One some spending those been that offset is, things. in to of SG&A the things of QX able some we've we've done to reduce

that perspective. would see the keep within in say growth model XX% modeling it you'll So, of in less of overall, or and we for we're trying so QX, to terms

Darin Billerbeck

design because -- both a also out run front lot the of itself. product saying modeling a does and that lot technology doesn't investment that have -- reason investment upfront doing And it in we out, is technology like run I'm that the and not of is the the of we're

that stuff it XX you'll of over reduce next a So, lot and XX to itself starts in time. see months, then happen to probably the

Richard Shannon

right. All Okay. That's good perspective.

all that's guys. think Thank I for me, you.

Anuj Aggarwal

Thank you.

Darin Billerbeck

Thanks. right. All

Operator

Thank you, Richard.

question from Needham next comes go ahead. Company. Our of the & Gill from line Rajvindra Please

Denis Pyatchanin

Darin. about Hi, what question in Denis just passed those of provide This any you ask cost specific is increases to for and kind being actually the Raji Can seeing actually chain to supply the wanted the you? on I cost details increases. of quick a that tonight. on are guys of how

Darin Billerbeck

is, have hey, you'll nature. what XX%, says, costs. you'll mean, something of have And and an instance could we're getting that for there, assembly X%, be I Yes, test that increases person substrate say, your

in package constrained people more and utilization different switchover. of or you'll cost, XX% Some a it's testers because see a

to we're it's now, those So on increases. starting off to don't and necessarily to in win we all we're pass different design it them forms that see our growth supplier customers, right want phase. because But in which depending And is.

that, to. So are chosen think lot but could of appropriate. we've I that's doing not that. We companies don't A do

yield cost plan doing offset improvement. by margin improvement our is so And and our of and reductions those own

Denis Pyatchanin

you would recent? of are for a or and this more the that been it. quarter longer phase production little going kind say on have these these of there's kind cropped assembly of just Got And test in up

Darin Billerbeck

ever XXXX have, different of itself. everybody's And through suppliers flip, the obviously, be I minimum, mean, than I I challenges capacity going well, doing going fighting, suppliers in today. to year, to standard. then we'll the in wanted. we’re or are are a mitigate seat be probably expect at all mean XXXX, of everybody's network go But a to the that to than and there's discussion it's, no, some it's them the then and more supply then sorts anyone they But to try things because stuff they're changing last late having to

Denis Pyatchanin

you you follow then a newer about to You expect think Or Toggle do it's Toggle of while? Gotcha. and one, STT level -- And of position talking mind for the plan kind at How newer mix would a you just about the my product? more know, you for could play kind high a do going of of of in do forward? be up, the older or will you STT, kind how view you've the that? question, to bit a some you point got even

Darin Billerbeck

I of retention. on we've is reliable, that super failures, field ever I Toggle know kind of workhorse think don't data the had cell for high Toggle.

it's ever starting to we're memories And has that factory growing very that smaller about that, in a realize replace that because automation, we we as so And talked niche specific have are just having they people go, industrial product to for robust applications. a don't lighter like and solid some automotive niche. are

So to grow. Toggle you're continue going seek to

past, the it to And we're we have didn't because can in that think it. profitable for own, run on just I run focus Toggle, a on. heavily that we product it's focusing -- we additional us our for like, on And capacity run. were they people

test not that's developed things. technology. other factory that's relying Toggle's is hand, outside a good And the the which means footprint, assembly minus we're different of and news sub whole STT cons on constrained. broader is different on product our So bigger, a

be to right does products, we the time. also because more going in these we're now, have homes on over Toggle in are in of to based you next really earlier, going markets lot homes to NOR and advanced STT discussed it scalable. a out and is SRAM both homes, those whole have on going But not, coming do be it. is STT ones reductions can't Our they're

with display about me the NOR actually that, talk product. bit little of technology we can Let a some this

Denis Pyatchanin

it. it. Got That Appreciate was helpful. really

Operator

Thank you.

the Greg from of RBC comes of Our Capital. next line question Johnson

Your line open. is

Greg Johnson

taking -- the for thanks the questions. guys, Hey,

color, these question you how would Richard's Since still are get follow you million, the $X much if see more some on far color on getting even were these of use maybe give larger -- up the plus, might $X I many to possibly to be willing term $XXX,XXX of to contracts. design into that type plus? as Just those how And on willing good to foresee million these a as longer wins. little

Darin Billerbeck

Well, I $XXX,XXX They into I get usually product. think is then homes to find for turns think happen you are things, product. year, if per a when different the because what'll multiple it attracted your people

So I always tell people, you'd start to get in $XXX,XXX order. order before you get the $X million

the our about So product, thing our and is and customers, reliability see good other these the or support, they grow. supply, then to once that see start going all the things you're to

the much you $XXX,XXX for lower having $X versus me, to is million customers. So $XXX,XXX customers know, risk

And it after hey, levels. past, this way million Toggle I a have in $XX fighting like, and $XX big running it turn the we way And was kind up diverse, our now dropped things, And have the at big did so those find of look then new it those STT to because go way. just product. STT one-time let's mean million we'll And think which we a at down. risky to that we're fish. or quarter. a But back It's doesn't won't trying also fish into we're

it. as on three focused about And on So this, we're we on we've for these a lot designs focusing bullish years. been especially more

Greg Johnson

-- on the anything the ASIC business? on of then Good, to good strong numbers And update to on any hear side there. the the continuing be

Darin Billerbeck

their for We've I it in able design taped take last that, call, to the just out. We've said those Phison and really, play. on time you heard ASIC But then in people mean, it's be been saw website, were as which it I know we I is to Yes. really to things. going cool. watching

but some see expect of year. good evidence to So, working we next that

this, a So couple least design we I big as get a would through expect go ones. and hopefully wins few at

Greg Johnson

anything a or those as as any not right. process in All of still Any yet? far on that's on timeframe

Darin Billerbeck

we are clarity But in product a lot ones we have for based on win, But Phisonon on then are now the is the now. Phison shipped more that, it and I'll those comes the easy do so a made, to that Well, they reference little design. expectation thing But we We that. have design that didn't to on opportunity the right a actually have actually original designs. it's once because my one those have custom more gig. out have few

Greg Johnson

Thanks. All Okay. right.

Darin Billerbeck

You got it.

Operator

question our comes the you. And Seiler Thank line of SRT. Michael of from next

is Your open. line

Michael Seiler

Hi. afternoon, had any Good competitor again taking lot you product a I avalanche? recently Thanks on a good STT for if wondered for in question Two on there. my guys. a -- questions yours great team RAM to -- quick and in Congrats, moments quarter, the me. of a of comments that announced and

Darin Billerbeck

Sure.

it, to have knowledge. then opportunity than market. tell, competition. that's person probably a the to more so provide. that good. I look pretty for what can know they're And I'm have density I when in We From be what going not The is person, more if always expect lot we a my that, there's we lower I that product dismiss the shipping And more than we'll than them going both. specifications to one there's competition, don't have news know they've good don't anything you shipped one

Michael Seiler

interim. my Okay. are Thanks titles both for noticed question, Any that. And last official your the just process? I then real still of updates search executive quick. that, on

curious just there's? and Thank on I'm timing process So you.

Darin Billerbeck

-- We're you this. I looking tell

we're -- us someone's that question. did. ask at you laughing, because to looking we're we And going So said both

Yes. great. was that So

right count at happens what we're right, making results no Board's matter -- of and that, team you are at of solve here that leadership got solve talking and that that, about. still two So be the us we're very that, And looking duration. sure the the on both yes, committed to bottom shorter to that rather We'll you've the hit going the that. individuals we'll looking line longer group been is, to can than a in

a happen. going not something do we And to or now. either that yes, But So, big issue titles we us to different. remove for that's know have right

Anuj Aggarwal

your what's Based Yes. I vote? on mean, the is, I question the financial? guess

Darin Billerbeck

the we doing Do change or think okay? everybody you on need we're based to Yes. financial

Anuj Aggarwal

Are okay? we doing

Michael Seiler

Keep you're up glad doing I'm fine. work. I the you're Board both And haul. think good the on long for hear just to

of to just up. kind just wanted clear So that --

So thank you.

Darin Billerbeck

Yes. No problem. definitely Yes, leave soon. we don't not going company, -- going we're we're anytime to not And right. the leave

Michael Seiler

Thanks Awesome. Congrats. Okay. again.

Darin Billerbeck

Thanks, You got Michael. it.

Operator

are questions Please call ahead. turn you. Instructions] back queue. the [Operator There I now over no Anuj. on will to Thank go

Anuj Aggarwal

in Okay. call. conclude may With Thank disconnect the said, now you our we progress today's results quarter. you forward the us, all and that for look and reporting to we call. joining next Operator,

Darin Billerbeck

Thanks, Rachel.

Anuj Aggarwal

you. Thank

Operator

and Darin This call. Anuj. participating. you, you conference concludes for Thank Thank today's

You may now disconnect.

Everspin (MRAM) 13 Aug 212021 Q2 Earnings call transcript