EVERSPIN TECHNOLOGIES INC.

Everspin Technologies, Inc. has appointed Vikas Choudhary to its Board of Directors, effective August 9, 2026. Mr. Choudhary, 54, brings over 30 years of semiconductor industry experience, currently serving as Senior Vice President and General Manager at MaxLinear. He was granted an initial restricted stock unit award valued at $250,000, vesting over two years, and will receive an annual cash retainer of $55,000 for his board service.

Everspin Technologies reported a significant increase in total revenue for Q2 2026, reaching $18.7 million, a 41.9% rise year-over-year. However, the company's net loss widened to $3.6 million from $0.7 million in the prior year. The company also disclosed a patent infringement lawsuit and recognized $0.5 million in other income from a strategic aerospace and defense award.

Everspin Technologies, Inc. announced preliminary unaudited financial results for the second quarter ended June 30, 2026, reporting record quarterly revenue of $18.7 million, a 42% increase year-over-year. This growth was driven by strong product sales and initial non-product revenue from a new $40 million contract. Despite a widening GAAP net loss to $(3.6) million, non-GAAP net income rose significantly to $2.9 million. The company provided an optimistic outlook for Q3 2026, expecting total revenue between $19.5 million and $20.5 million.

Lawrence G. Finch notified Everspin Technologies, Inc. of his resignation from the company's Board of Directors and as a member of the audit committee. The resignation is effective August 4, 2026. The company stated that Mr. Finch's departure was not a result of any disagreement regarding the company's operations, policies, or practices.

Everspin Technologies, Inc. stockholders approved the Amended and Restated 2016 Equity Incentive Plan at its 2026 Annual Meeting, authorizing an additional 1,800,000 shares for issuance. The plan also includes provisions prohibiting the reduction of exercise prices or cancellation of underwater options without prior stockholder approval. Additionally, stockholders elected seven directors, ratified Ernst & Young LLP as the independent auditor for 2026, and approved the advisory vote on executive compensation.

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.

Everspin Technologies, Inc. (MRAM) has entered into a $40,000,000 subcontract with Amentum Services Inc. for a Microelectronics Research, Development, Test, and Evaluation (RDT&E) program. The 30-month agreement, running until November 2028, aims to establish on-shore Toggle MRAM production capability for U.S. government strategic systems. MRAM will provide process know-how and IP for Toggle MRAM manufacturing.

Everspin Technologies, Inc. entered into a 10-year Foundry Services Agreement with Microchip Technology. This agreement secures Microchip as a manufacturer for Everspin's 8-inch MRAM, TMR sensor, and STT-MRAM wafers at its Oregon facility. Everspin will reimburse Microchip an estimated $13.95 million in two phases for costs associated with tooling relocation, installation, process setup, and qualification, ensuring long-term production capacity for its core products.