| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 14.87 | 13.2% |
| Total Income | 14.87 | 13.2% |
| Expenditure | 17.59 | 16.7% |
| PBT | -0.29 | 74.6% |
| Net Profit | -0.30 | 74.4% |
| OPM | -18.26% | 3.56pp |
| NPM | -1.99% | 6.89pp |
| EPS | -0.01 | 80.0% |
Everspin Reports Q1 2026 Revenue $14.9 million, Up 13% Y-o-Y
03 May 2026 · 3 May, 5:33 pm
Summary
Everspin Technologies reported first quarter 2026 revenue of $14.9 million, an increase from $13.1 million in the first quarter of 2025. MRAM product sales increased to $14.1 million from $11.0 million year-over-year. The company's gross margin improved to 52.7% from 51.4%. For the second quarter of 2026, Everspin expects total revenue to be in the range of $15.5 million to $16.5 million.
Key Highlights
- 1
Everspin reported total revenue of $14.9 million in the first quarter of 2026, compared to $13.1 million in the first quarter of 2025.
- 2
MRAM product sales reached $14.1 million, up from $11.0 million in the first quarter of 2025.
- 3
The company's gross margin was 52.7% in Q1 2026, compared to 51.4% in the first quarter of 2025.
- 4
Everspin's GAAP net loss was $0.3 million, or $(0.01) per diluted share, compared to a net loss of $1.2 million, or $(0.05) per diluted share, in the first quarter of 2025.
- 5
Non-GAAP net income was $2.6 million, or $0.11 per diluted share, compared to non-GAAP net income of $0.4 million, or $0.02 per diluted share, in the first quarter of 2025.
- 6
Cash and cash equivalents totaled $40.5 million as of March 31, 2026.
- 7
Everspin anticipates total revenue between $15.5 million and $16.5 million for the second quarter of 2026.
Management Comments
Sanjeev Aggarwal
Our first quarter results were driven by strength in Industrial Automation, Transportation, and Data Center applications. Additionally, we have started to see a recovery in customer demand especially in Japan as inventory levels have been worked down. We are also very excited to announce a new $40 million contract with a US prime contractor to provide State of the Art (SOTA) MRAM process technology capabilities and engineering services for United States Defense Industrial Base customers.
Bill Cooper
We are pleased with our first quarter results, which came in at the high end of our expectations, driven by increasing product revenue. Our balance sheet remains strong, providing us with the necessary capital to execute our recently signed Foundry Services Agreement with Microchip, as well as continuing to invest in product development to deliver on our roadmap and enabling the Company to address opportunities that will drive future growth. We continue to prioritize strong operational execution and prudent expense management.
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