Everspin Q2 revenue rises 42%, beats analyst estimates

EverSpin Technologies

05/08/2026 21:08

Overview
US MRAM memory maker's preliminary Q2 revenue rose 42%, beating analyst expectations
Non-GAAP net income for Q2 increased to $2.9 mln, up from $0.7 mln last year
Growth driven by strong product sales and new contract with US prime contractor

Outlook
Everspin expects Q3 2026 revenue between $19.5 mln and $20.5 mln
Company anticipates Q3 2026 GAAP net loss per share between ($0.10) and ($0.05)
Everspin forecasts Q3 2026 non-GAAP net income per diluted share of $0.10 to $0.15

Result Drivers
PRODUCT REVENUE - Co said strong MRAM product sales contributed to record Q2 revenue
NEW CONTRACT - Initial non-product revenue recognized from $40 mln contract with US prime contractor, per CEO Sanjeev Aggarwal
END MARKET GROWTH - Growth led by industrial automation, energy management, and aerospace and defense, according to CEO Sanjeev Aggarwal

Company press release: ID:nBw7Txxxka

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$18.70 mln
$17.30 mln (3 Analysts)
Q2 Net Loss
 
$3.60 mln
 
Q2 Gross Margin
 
53.90%
 
Q2 Operating Expenses
 
$14.50 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 $18.50, about 6.2% above its August 4 closing price of $17.42
The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 43 three months ago

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Aug 4 - Leidos lifts annual forecasts on strong defense demand

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.)