Everspin Tech (NASDAQ:MRAM) Announces Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Everspin reported Q1 non‑GAAP EPS of $0.11, beating estimates by $0.02, with revenue of about $14.9M (up 14% YoY), MRAM product sales up 28%, a GAAP gross margin of 52.7% and roughly $40.5M in cash while debt‑free.
• The company announced a new 2.5‑year $40 million subcontract with a U.S. prime (linked to Microchip) and a 10‑year manufacturing agreement to add an onshore MRAM line in Oregon, with first shipments expected in 2H 2027 to bolster supply‑chain resilience.
• Near‑term risks remain as Q2 guidance implies a potential GAAP loss (‑$0.12 to ‑$0.07) and only breakeven to $0.03 non‑GAAP, with litigation costs and higher working capital reducing operating cash flow, while the new UNISYST product targets samples in Q4 2026 but material revenue is likely later due to long customer qualification timelines.

Everspin Tech (NASDAQ:MRAM - Get Free Report) posted its quarterly earnings data on Wednesday. The business services provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02, Zacks reports. The business had revenue of $14.87 million during the quarter, compared to analysts' expectations of $14.60 million. Everspin Tech had a negative net margin of 1.06% and a negative return on equity of 0.90%. Everspin Tech updated its Q2 2026 guidance to 0.000-0.030 EPS.

Here are the key takeaways from Everspin Tech's conference call:

• $40 million agreement: Everspin announced a new 2.5‑year, $40M subcontract with a U.S. prime to provide Toggle MRAM process, engineering and foundry services (linked to Microchip) — management says it will meaningfully help results but has not disclosed timing or milestone revenue cadence yet.
• Q1 financials were strong: Revenue was $14.9M (up 14% YoY), MRAM product sales were $14.1M (up 28% YoY), non‑GAAP EPS was $0.11, GAAP gross margin rose to 52.7%, and the company ended the quarter debt‑free with $40.5M in cash.
• Q2 outlook and costs carry risks: guidance calls for $15.5M–$16.5M revenue but a GAAP loss (‑$0.12 to ‑$0.07) and only breakeven to $0.03 non‑GAAP, while litigation expenses (about $1.6M in Q1) and higher working capital reduced operating cash flow to $0.5M this quarter.
• UNISYST product roadmap: The new UNISYST MRAM family targets the ~ $3B high‑density standalone NOR flash market with samples expected in Q4 2026 and management targeting a 5%–10% early share, but customer qualification timelines (~18–24 months) mean material revenue is likely later.
• Onshore manufacturing expansion: A 10‑year strategic manufacturing agreement with Microchip will add a domestic MRAM line in Oregon (first shipments expected 2H 2027), intended to create a second source and strengthen supply‑chain resilience for defense and commercial customers.

Everspin Tech Price Performance

MRAM traded up $0.45 during trading on Wednesday, hitting $13.19. 878,018 shares of the stock traded hands, compared to its average volume of 685,854. The business has a 50 day moving average price of $10.41 and a 200 day moving average price of $10.36. The company has a market cap of $307.20 million, a price-to-earnings ratio of -439.67 and a beta of 0.94. Everspin Tech has a twelve month low of $5.15 and a twelve month high of $17.24.

Analyst Upgrades and Downgrades

MRAM has been the subject of several analyst reports. Needham & Company LLC dropped their target price on shares of Everspin Tech from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Everspin Tech in a research report on Friday, March 27th. Finally, Wall Street Zen downgraded shares of Everspin Tech from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $14.00.

Insider Buying and Selling at Everspin Tech

In other Everspin Tech news, CEO Sanjeev Aggarwal sold 19,440 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $9.20, for a total transaction of $178,848.00. Following the sale, the chief executive officer owned 847,881 shares of the company's stock, valued at approximately $7,800,505.20. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Everspin Tech

A number of institutional investors and hedge funds have recently bought and sold shares of MRAM. Renaissance Technologies LLC boosted its stake in shares of Everspin Tech by 4.6% during the fourth quarter. Renaissance Technologies LLC now owns 261,367 shares of the business services provider's stock valued at $2,425,000 after purchasing an additional 11,600 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Everspin Tech by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 221,189 shares of the business services provider's stock valued at $2,054,000 after buying an additional 8,618 shares during the period. Jane Street Group LLC raised its holdings in Everspin Tech by 265.0% in the 4th quarter. Jane Street Group LLC now owns 183,966 shares of the business services provider's stock valued at $1,707,000 after buying an additional 133,560 shares during the last quarter. Two Sigma Investments LP raised its holdings in Everspin Tech by 63.9% in the 3rd quarter. Two Sigma Investments LP now owns 170,933 shares of the business services provider's stock valued at $1,591,000 after buying an additional 66,623 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Everspin Tech by 426.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 137,687 shares of the business services provider's stock valued at $1,282,000 after buying an additional 111,542 shares during the last quarter. Institutional investors and hedge funds own 44.68% of the company's stock.

Everspin Tech Company Profile

Everspin Technologies, Inc NASDAQ: MRAM is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin's non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company's product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM's fast write speeds and low power consumption.

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