DealsApr 29, 2026, 05:22 PM
MRAM Secures $40M Mil-Aero R&D Contract; Q1 Net Loss Narrows to $0.296M
AI Summary
EVERSPIN TECHNOLOGIES INC. secured a $40.0 million strategic agreement with Amentum Services Inc. for Mil-Aero MRAM R&D and entered a 10-year foundry services agreement with Microchip Technology. For Q1 2026, the company significantly narrowed its net loss to $0.296 million from $1.166 million in Q1 2025. Total revenue increased to $14.872 million, up from $13.138 million year-over-year.
Key Highlights
- Secured $40.0M strategic agreement with Amentum Services Inc. for Mil-Aero MRAM R&D.
- Entered 10-year foundry services agreement with Microchip Technology for MRAM wafer manufacturing.
- Q1 2026 net loss narrowed to $(0.296) million from $(1.166) million YoY.
- Q1 2026 total revenue increased 13.2% to $14.872 million from $13.138 million YoY.
- Q1 2026 product sales grew 27.9% to $14.100 million from $11.026 million YoY.
- Q1 2026 gross profit rose to $7.843 million from $6.753 million YoY.
- Cash and cash equivalents at $40.494 million as of March 31, 2026.
- Patent infringement lawsuit filed by Avalanche Technology, Inc. on January 28, 2026.
Price Impact
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