Everspin Technologies (MRAM) RedChip Future Tech Investor Conference summary

Company overview and technology

• Leading provider of MRAM, a magnetic tunnel junction-based memory, serving mission-critical applications in data center, industrial, IoT, automotive, and radiation-hardened sectors.

• MRAM is radiation immune, fast, persistent, and does not require a battery to retain data.

• Over 200 million units shipped to 2,000+ customers globally, with a strong patent portfolio of 700+ patents.

• Operates an 8-inch MRAM manufacturing line in the U.S. and leverages GLOBALFOUNDRIES and soon TSMC for 12-inch production.

• Only domestic MRAM provider for U.S. mission-critical applications, supporting government and commercial programs.

Product portfolio and roadmap

• Product lines include PERSYST (in production), UNISYST (sampling end of year, production early next year), and AgILYST (under development for AI/data center, 2-3 years out).

• Recent launches include xSPI family (EMxxLX) for higher density and faster performance.

• Upcoming UNISYST product at TSMC will replace NOR flash, offering much higher speed and endurance.

• Roadmap targets densities from 256 Mb to multi-gigabit, with plans to address AI and data center markets.

• Revenue goal to double from $50M to $100M by 2029, driven by new products and licensing.

Market opportunity and financials

• Total addressable market (TAM) expected to grow from $1B to $4.3B by 2029, mainly by entering the NOR flash replacement market.

• Strong financial position with zero debt and positive free cash flow for the past 4-5 years.

• Licensing revenue targeted at 10%-15% of total, with major focus on product revenue.

• Licensing partners include Alps, Bosch, Seagate, Toshiba, and GLOBALFOUNDRIES.