Everspin Technologies (MRAM) 28th Annual Needham Growth Conference Virtual summary

Company history and technology milestones

• Spun off from Freescale in 2008 and went public in 2016, focusing on specialty magnetic memory.

• Commercialized both Toggle MRAM and STT-MRAM, with key partnerships like GlobalFoundries (2014) and TSMC.

• Achieved significant density scaling, shipping one-gigabit STT-MRAM to IBM since 2018.

• Developed xSPi parts (4–256 megabit) gaining traction in aerospace, defense, and FPGA markets.

• All products are designed in-house, with U.S.-based manufacturing for Toggle MRAM.

Product portfolio and applications

• Toggle MRAM uses magnetic fields for switching, limited to 32 megabit densities; STT-MRAM uses current, enabling higher densities up to 1 gigabit.

• MRAM is favored for applications requiring fast data logging, instant-on/off, and high reliability, such as industrial automation and casino gaming.

• MRAM's radiation immunity makes it ideal for aerospace, defense, and low Earth orbit satellites.

• U.S. government and military contractors show strong interest due to domestic manufacturing and security needs.

• Data center applications benefit from MRAM's speed and reliability, reducing the need for batteries in memory backup.

Manufacturing and partnerships

• Maintains an eight-inch Chandler, Arizona fab for Toggle MRAM, the only U.S. MRAM supplier.

• STT-MRAM production is outsourced to GlobalFoundries (12-inch), with technology licensing and royalty agreements.

• TSMC partnership leverages their MRAM technology with Everspin's designs.