Everspin preliminary Q1 revenue rises 13%, co announces $40 mln deal

EverSpin Technologies

29/04/2026 21:11

Overview

U.S. MRAM memory maker's preliminary Q1 revenue rose 13% yr/yr to $14.9 mln

Preliminary non-GAAP net income climbed to $2.6 mln from $0.4 mln a year ago

Company announced new $40 mln contract with U.S. defense contractor

Outlook

Everspin expects Q2 2026 revenue between $15.5 mln and $16.5 mln

Company sees Q2 2026 GAAP net loss per share between $(0.12) and $(0.07)

Everspin anticipates Q2 2026 non-GAAP net income per diluted share of $0.00 to $0.03

Result Drivers

PRODUCT SALES GROWTH - Co said Q1 results were driven by higher MRAM product sales for industrial automation, transportation, and data center applications

DEMAND RECOVERY - Co noted a recovery in customer demand, particularly in Japan, as inventory levels were worked down

LICENSING REVENUE DECLINE - Co reported lower licensing, royalty, and other revenue yr/yr, partially offsetting overall revenue growth

Company press release: ID:nBw5krQKsa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$14.90 mln
$14.60 mln (2 Analysts)
Q1 Net Income
-$300,000
Q1 Gross Margin
52.70%
Q1 Operating Expenses
$10.60 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the semiconductors peer group is "buy"

Wall Street's median 12-month price target for Everspin Technologies Inc is $12.50, about 1.9% below its April 28 closing price of $12.74

The stock recently traded at 49 times the next 12-month earnings vs. a P/E of 31 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)