Everspin Tech (NASDAQ:MRAM) Posts Quarterly Earnings Results

Everspin Tech (NASDAQ:MRAM) posted its quarterly earnings data on Wednesday. The business services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14, FiscalAI reports. The firm had revenue of $18.74 million during the quarter, compared to analyst estimates of $17.30 million. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. 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 Stock Down 3.0%

NASDAQ MRAM traded down $0.49 during midday trading on Thursday, hitting $15.65. The company had a trading volume of 1,826,429 shares, compared to its average volume of 1,974,938. The firm has a fifty day simple moving average of $20.82 and a two-hundred day simple moving average of $17.11. Everspin Tech has a fifty-two week low of $5.86 and a fifty-two week 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.

Wall Street Analysts Forecast Growth

MRAM has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price target on shares of Everspin Tech from $18.50 to $19.00 and gave the company 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 investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.00.

Insiders Place Their Bets

In other news, CEO Sanjeev Aggarwal sold 30,885 shares of the 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. This represents a 3.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Darin G. Billerbeck sold 30,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $37.16, for a total transaction of $1,114,800.00. Following the transaction, the director directly owned 124,073 shares of the company’s stock, valued at $4,610,552.68. The trade was a 19.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 148,843 shares of company stock valued at $4,775,218 in the last ninety days. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everspin Tech

Several institutional investors have recently bought and sold shares of MRAM. Hudson Bay Capital Management LP acquired a new stake in Everspin Tech in the 4th quarter valued at about $267,000. WINTON GROUP Ltd acquired a new stake in Everspin Tech in the fourth quarter worth about $156,000. Brevan Howard Capital Management LP acquired a new position in Everspin Tech during the 2nd quarter valued at about $227,000. Bank of America Corp DE grew its position in shares of Everspin Tech by 28.6% during the 2nd quarter. Bank of America Corp DE now owns 27,150 shares of the business services provider’s stock worth $171,000 after buying an additional 6,041 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Everspin Tech during the second quarter worth approximately $159,000. Institutional investors 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.