Highlights

  • Everspin Technologies, a maker of magnetoresistive random-access memory (MRAM), reported preliminary, unaudited second-quarter 2026 results on 5 August 2026..
  • Revenue was US$18.7 million, up 42% from US$13.2 million in the second quarter of 2025..
  • The company recorded a GAAP net loss of US$3.6 million, or US$0.15 per diluted share, and non-GAAP net income.
  • Chief executive Sanjeev Aggarwal said the company continues to see strong growth across its existing business..

Everspin Technologies (NASDAQ:MRAM) is at a consequential point in its latest reported developments. Everspin Technologies, a maker of magnetoresistive random-access memory (MRAM), reported preliminary, unaudited second-quarter 2026 results on 5 August 2026. Revenue was US$18.7 million, up 42% from US$13.2 million in the second quarter of 2025.

The Latest Developments

The company recorded a GAAP net loss of US$3.6 million, or US$0.15 per diluted share, and non-GAAP net income of US$2.9 million, or US$0.11 per diluted share. It held US$43.9 million of cash and cash equivalents at 30 June 2026. Chief executive Sanjeev Aggarwal said the company continues to see strong growth across its existing business.

Where the growth came from

MRAM product sales, covering Toggle and spin-transfer-torque (STT) products, were US$15.3 million, up from US$11.1 million. Licensing, royalty, engineering services and other revenue was US$3.4 million, up from US$2.1 million. Growth was led by industrial automation, energy management and aerospace and defence.

The company also recorded initial non-product revenue under a recently signed US$40 million contract with a US prime contractor. The sources reviewed did not give the contract's duration or recognition schedule, so the pace at which that value reaches reported revenue remains uncertain.

Using the reported figures, product sales grew about 38% and made up roughly 82% of revenue, while the licensing and services line grew about 62% from a smaller base. The calculations are this article's own. They suggest the company's core product business is still the main engine, with the new contract adding a second, contract-dependent source of income whose timing is not yet disclosed.

GAAP and non-GAAP profit

The gap between a GAAP loss and non-GAAP profit is the central profitability question. On the reported numbers, the difference between the two net results was US$6.5 million for the quarter, equal to roughly 35% of revenue. Non-GAAP figures exclude items such as share-based compensation, and the retrieved release did not detail the reconciliation.

Guidance for the third quarter is for revenue of US$19.5 million to US$20.5 million, GAAP earnings per share of negative US$0.10 to negative US$0.05, and non-GAAP earnings per share of US$0.10 to US$0.15. These are management forecasts rather than results. At the midpoint, guided revenue of US$20.0 million would be about 7% above the second quarter, with GAAP losses expected to continue.

Cash of US$43.9 million equals roughly twelve times the quarterly GAAP loss of US$3.6 million, which would imply about three years of cover at that rate, although that arithmetic ignores working capital, capital spending and any financing. The release as retrieved did not give cash flow from operations, so this article does not assess cash burn directly.

Share price and benchmark framing

Everspin closed at US$13.66 on Wednesday 14 October 2026, down from US$15.08 on 13 October, US$15.28 on 12 October and US$16.45 on 9 October. That is a fall of about 17% across three sessions. The sources reviewed did not identify a company announcement explaining the decline, and no cause is attributed. The completed 15 October session was not retrieved.

The comparison uses the Nasdaq Composite only as a benchmark for a Nasdaq-listed company. It does not claim that Everspin is a constituent of that index or any other, and no such membership was verified.

Things to watch

Supported watch points include delivery against the third-quarter revenue range, whether the US$40 million contract contributes more non-product revenue in later periods, and whether the non-GAAP profit seen in the second quarter is sustained. Investors may also monitor product sales relative to the licensing and services line, which grew from a smaller base. Management commentary would help. The date of the next report was not confirmed in the sources reviewed, so investors should check the company website.