Everspin Tech (NASDAQ:MRAM) Announces Quarterly Earnings Results

Everspin Tech (NASDAQ:MRAM) issued its earnings results on Wednesday. The business services provider reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.14, FiscalAI reports. The company had revenue of $18.74 million during the quarter, compared to the consensus estimate of $17.30 million. Everspin Tech had a return on equity of 4.78% and a net margin of 0.50%. 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

Shares of MRAM stock traded down $0.49 on Thursday, hitting $15.65. The stock had a trading volume of 1,826,429 shares, compared to its average volume of 1,974,938. Everspin Tech has a 12-month low of $5.86 and a 12-month high of $51.50. The stock has a market cap of $366.99 million, a price-to-earnings ratio of 1,566.57 and a beta of 1.94. The business has a 50 day moving average of $20.82 and a 200 day moving average of $17.11.

Insider Transactions at Everspin Tech

In other Everspin Tech news, Director Darin G. Billerbeck sold 30,000 shares of Everspin Tech stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $37.16, for a total transaction of $1,114,800.00. Following the transaction, the director owned 124,073 shares of the company’s stock, valued at $4,610,552.68. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjeev Aggarwal sold 30,885 shares of the company’s 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 of the company’s stock, valued at $18,755,792.74. This trade represents a 3.55% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 148,843 shares of company stock worth $4,775,218. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Everspin Tech

Several large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Everspin Tech in the second quarter valued at approximately $25,000. Kestra Advisory Services LLC bought a new stake in shares of Everspin Tech in the fourth quarter valued at $41,000. Algert Global LLC bought a new position in shares of Everspin Tech during the 3rd quarter worth $102,000. Occudo Quantitative Strategies LP purchased a new stake in Everspin Tech in the 2nd quarter worth about $70,000. Finally, Balyasny Asset Management L.P. bought a new stake in Everspin Tech in the 4th quarter valued at about $155,000. Hedge funds and other institutional investors own 44.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MRAM. Needham & Company LLC boosted their target price on shares of Everspin Tech from $18.50 to $19.00 and gave the stock a “buy” rating in a research 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 research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Everspin Tech currently has a consensus rating of “Hold” and a consensus 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.