Technology

● Second-quarter revenue was US$227.4 million, up 14.2% from the first quarter.

● Networking revenue rose 74.9% to US$2.9 billion with a 22.0% operating margin.

● The company plans to grow critical IT capacity from 1.5 to 8 megawatts by end-2026.

● Everspin product sales rose to US$15.3 million from US$11.1 million.

● Non-GAAP operating income was $96.1 million, against a GAAP operating loss of $205.7 million.

● Second-quarter revenue fell 16 per cent to $19.6 million; net loss was $27.8 million.

● Product revenue rose 54% to US$687 million, outpacing subscription annual recurring revenue growth of 20%.