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

Everspin Tech (NASDAQ:MRAM) posted its earnings results on Wednesday. The business services provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14, FiscalAI reports. The business had revenue of $18.74 million for 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 Price Performance

MRAM stock traded down $0.49 during mid-day trading on Thursday, hitting $15.65. 1,826,247 shares of the stock were exchanged, compared to its average volume of 1,974,905. The stock has a market capitalization of $366.99 million, a price-to-earnings ratio of 1,566.57 and a beta of 1.94. The business has a fifty day moving average price of $20.82 and a 200 day moving average price of $17.11. Everspin Tech has a 12 month low of $5.86 and a 12 month high of $51.50.

Insiders Place Their Bets

In other news, Director Glen Hawk sold 48,563 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.95, for a total value of $1,842,965.85. Following the completion of the sale, the director directly owned 39,551 shares in the company, valued at approximately $1,500,960.45. The trade was a 55.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Darin G. Billerbeck sold 30,000 shares of the company’s stock in a transaction 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 completion of the sale, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 148,843 shares of company stock valued at $4,775,218 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Everspin Tech

Several institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in Everspin Tech during the 2nd quarter worth approximately $25,000. Kestra Advisory Services LLC bought a new stake in Everspin Tech in the fourth quarter valued at approximately $41,000. Occudo Quantitative Strategies LP bought a new stake in Everspin Tech in the second quarter valued at approximately $70,000. Algert Global LLC purchased a new stake in shares of Everspin Tech during the third quarter valued at approximately $102,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Everspin Tech during the fourth quarter valued at approximately $155,000. 44.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MRAM. Needham & Company LLC lifted their price target on Everspin Tech from $18.50 to $19.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings lowered shares of Everspin Tech from a “sell (d+)” rating to a “sell (d)” rating in a research report 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. Based on data from MarketBeat, Everspin Tech currently 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.