Everspin Tech (NASDAQ:MRAM) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Key Points

• Everspin beat quarterly expectations: Revenue rose 42% year over year to $18.74 million, exceeding estimates, while EPS of $0.11 beat consensus by $0.14.
• The company began recognizing revenue from a $40 million U.S. defense subcontract and expects continued defense and satellite demand, while advancing its 256-megabit X-Fi MRAM and CXL-attached MRAM projects.
• Costs remain a concern: Higher packaging expenses, litigation and engineering costs are expected to pressure results, with Q3 2026 guidance calling for EPS of $0.10–$0.15 but a GAAP loss of $0.05–$0.10 per share.

Everspin Tech (NASDAQ:MRAM - Get Free Report) released its earnings results on Wednesday. The business services provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.14, FiscalAI reports. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. The company had revenue of $18.74 million for the quarter, compared to the consensus estimate of $17.30 million. Everspin Tech updated its Q3 2026 guidance to 0.100-0.150 EPS.

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

• Record Q2 performance: Revenue reached $18.7 million, up 42% year over year and above guidance, while non-GAAP EPS was $0.11 versus the guided range of $0.00–$0.03. Product revenue rose 38% year over year, supported by industrial automation, energy management, and aerospace and defense demand.
• The company began recognizing revenue from its new $40 million U.S. defense subcontract and expects similar non-product revenue in Q3, although recognition will not be linear. Management also cited continued defense opportunities and broad-based satellite demand, including a new GEO satellite design win.
• Everspin reiterated progress on its growth pipeline, including the 256-megabit X-Fi MRAM, which is expected to expand its addressable market by approximately $3 billion, and a Microchip manufacturing project targeted to deliver qualified silicon within 18–24 months. CXL-attached MRAM development is also advancing, with a proof-of-concept demonstration planned for September and collaborations with MaxLinear and an unnamed controller company.
• Product gross margins faced pressure from higher packaging and outsourced semiconductor assembly and test costs, including rising gold prices; management continues to expect product margins in the mid-to-high 40% range. Litigation costs of approximately $4 million and Microchip-related engineering costs are also expected to weigh on GAAP results, with Q3 guidance calling for a GAAP loss of $0.05–$0.10 per share.
• The $14.6 million MRAM manufacturing sustainment contract is winding down, with completion expected in the first half of 2027. Everspin expects uninterrupted operations at the NXP Chandler facility through 2028 but is still assessing future plans with the facility’s prospective owner while using Microchip to provide additional manufacturing capacity.

Everspin Tech Price Performance

NASDAQ:MRAM traded down $0.49 during mid-day trading on Thursday, reaching $15.65. The stock had a trading volume of 1,826,247 shares, compared to its average volume of 1,974,905. The stock has a 50-day simple moving average of $20.82 and a two-hundred day simple moving average of $17.11. The stock has a market capitalization of $366.99 million, a PE ratio of 1,566.57 and a beta of 1.94. Everspin Tech has a 12 month low of $5.86 and a 12 month high of $51.50.

Insider Activity

In other Everspin Tech news, Director Geoffrey G. Ribar sold 27,488 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $28.87, for a total value of $793,578.56. Following the sale, the director owned 94,063 shares of the company's stock, valued at approximately $2,715,598.81. This trade represents a 22.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjeev Aggarwal sold 30,885 shares of Everspin Tech stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $22.34, for a total value of $689,970.90. Following the completion of the transaction, the chief executive officer owned 839,561 shares in the company, valued at approximately $18,755,792.74. The trade was a 3.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 148,843 shares of company stock valued at $4,775,218. Corporate insiders own 6.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MRAM. Raymond James Financial Inc. bought a new position in Everspin Tech in the 2nd quarter valued at approximately $25,000. Kestra Advisory Services LLC bought a new position in Everspin Tech in the 4th quarter valued at approximately $41,000. Occudo Quantitative Strategies LP acquired a new stake in Everspin Tech in the second quarter valued at $70,000. Algert Global LLC acquired a new position in Everspin Tech in the third quarter valued at $102,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Everspin Tech in the fourth quarter worth $155,000. Institutional investors own 44.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MRAM shares. Needham & Company LLC upped their target price on Everspin Tech from $18.50 to $19.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings downgraded Everspin Tech from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $19.00.

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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