Everspin Technologies (MRAM)
Market Price (8/24/2026): $16.73 | Market Cap: $399.6 MilSector: Information Technology | Industry: Semiconductors
Everspin Technologies (MRAM)
Market Price (8/24/2026): $16.73Market Cap: $399.6 MilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -10% Megatrend and thematic driversMegatrends include Artificial Intelligence, and Automation & Robotics. Themes include Edge AI, AI Chips, Show more. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -9.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -16% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 97x Stock price has recently run up significantly12M Rtn12 month market price return is 166% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -12% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 83% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.0% High stock price volatilityVol 12M is 115% Key risksMRAM key risks include [1] slow market adoption of its premium-priced MRAM technology due to intense competition and [2] challenges in scaling to high-volume manufacturing, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -10% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, and Automation & Robotics. Themes include Edge AI, AI Chips, Show more. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -9.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -16% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 97x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 166% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -12% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 83% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.0% |
| High stock price volatilityVol 12M is 115% |
| Key risksMRAM key risks include [1] slow market adoption of its premium-priced MRAM technology due to intense competition and [2] challenges in scaling to high-volume manufacturing, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Everspin Technologies (MRAM) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Widened GAAP Net Loss due to Patent Litigation Costs.
Everspin Technologies reported a GAAP net loss of $(3.6) million, or $(0.15) per diluted share, for fiscal Q2 2026 (ended June 30, 2026), significantly higher than the net loss of $(0.7) million in the corresponding period of fiscal 2025. This widened loss was primarily driven by approximately $4.0 million in patent-litigation costs, which more than doubled the company's general and administrative expenses. Despite achieving record revenue of $18.7 million and beating non-GAAP EPS estimates, the substantial legal expenses negatively impacted overall profitability.
2. Significant Insider Selling Activity.
In late May 2026, Director FINCH LAWRENCE G sold 268,130 shares of Everspin Technologies stock at $26.40 per share, totaling approximately $7,078,884. This substantial insider transaction, exceeding the $5 million threshold, likely signaled a lack of confidence to the market and contributed to downward pressure on the stock price.
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Everspin Technologies (MRAM) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Widened GAAP Net Loss due to Patent Litigation Costs.
Everspin Technologies reported a GAAP net loss of $(3.6) million, or $(0.15) per diluted share, for fiscal Q2 2026 (ended June 30, 2026), significantly higher than the net loss of $(0.7) million in the corresponding period of fiscal 2025. This widened loss was primarily driven by approximately $4.0 million in patent-litigation costs, which more than doubled the company's general and administrative expenses. Despite achieving record revenue of $18.7 million and beating non-GAAP EPS estimates, the substantial legal expenses negatively impacted overall profitability.
2. Significant Insider Selling Activity.
In late May 2026, Director FINCH LAWRENCE G sold 268,130 shares of Everspin Technologies stock at $26.40 per share, totaling approximately $7,078,884. This substantial insider transaction, exceeding the $5 million threshold, likely signaled a lack of confidence to the market and contributed to downward pressure on the stock price.
3. Profit-Taking Following an All-Time High.
The stock reached an all-time high of $51.50 on May 12, 2026. After such a significant run-up, it is common for investors to engage in profit-taking, leading to a natural correction in the share price. The stock's historical volatility, with a 52-week high of $51.50 and a low of $5.86, also suggests that sharp movements are often followed by adjustments as market participants lock in gains.
4. Extended Timeline for New Product Revenue Generation.
While Everspin announced plans to expand its MRAM product portfolio, including a new UNISYST family targeting the NOR flash market, the projected timeline for meaningful revenue from these new offerings is extended. The first UNISYST product is expected to tape out by the end of fiscal 2026, with production anticipated to begin in mid-2027 and more significant revenue generation not expected until fiscal 2028 and 2029. This long lead time for new product contributions might temper immediate investor enthusiasm and growth expectations.
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Stock Movement Drivers
Fundamental Drivers
The -6.4% change in MRAM stock from 4/30/2026 to 8/23/2026 was primarily driven by a -11.9% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.28 | 17.11 | -6.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 57 | 62 | 9.7% |
| P/S Multiple | 7.4 | 6.5 | -11.9% |
| Shares Outstanding (Mil) | 23 | 24 | -3.1% |
| Cumulative Contribution | -6.4% |
Market Drivers
4/30/2026 to 8/23/2026| Return | Correlation | |
|---|---|---|
| MRAM | -6.4% | |
| Market (SPY) | 6.5% | 46.3% |
| Sector (XLK) | 14.9% | 59.4% |
Fundamental Drivers
The 31.7% change in MRAM stock from 1/31/2026 to 8/23/2026 was primarily driven by a 19.2% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.99 | 17.11 | 31.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 54 | 62 | 16.5% |
| P/S Multiple | 5.5 | 6.5 | 19.2% |
| Shares Outstanding (Mil) | 23 | 24 | -5.1% |
| Cumulative Contribution | 31.7% |
Market Drivers
1/31/2026 to 8/23/2026| Return | Correlation | |
|---|---|---|
| MRAM | 31.7% | |
| Market (SPY) | 11.0% | 49.1% |
| Sector (XLK) | 27.6% | 57.9% |
Fundamental Drivers
The 182.3% change in MRAM stock from 7/31/2025 to 8/23/2026 was primarily driven by a 138.9% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.06 | 17.11 | 182.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 49 | 62 | 27.2% |
| P/S Multiple | 2.7 | 6.5 | 138.9% |
| Shares Outstanding (Mil) | 22 | 24 | -7.1% |
| Cumulative Contribution | 182.3% |
Market Drivers
7/31/2025 to 8/23/2026| Return | Correlation | |
|---|---|---|
| MRAM | 182.3% | |
| Market (SPY) | 22.2% | 46.5% |
| Sector (XLK) | 40.1% | 55.0% |
Fundamental Drivers
The 78.0% change in MRAM stock from 7/31/2023 to 8/23/2026 was primarily driven by a 101.3% change in the company's P/S Multiple.| (LTM values as of) | 7312023 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.61 | 17.11 | 78.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 60 | 62 | 3.3% |
| P/S Multiple | 3.2 | 6.5 | 101.3% |
| Shares Outstanding (Mil) | 20 | 24 | -14.4% |
| Cumulative Contribution | 78.0% |
Market Drivers
7/31/2023 to 8/23/2026| Return | Correlation | |
|---|---|---|
| MRAM | 78.0% | |
| Market (SPY) | 73.2% | 35.9% |
| Sector (XLK) | 109.4% | 45.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MRAM Return | 146% | -51% | 63% | -29% | 45% | 83% | 269% |
| Peers Return | 39% | -17% | 58% | -18% | 81% | 109% | 464% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| MRAM Win Rate | 58% | 33% | 50% | 42% | 58% | 50% | |
| Peers Win Rate | 60% | 42% | 65% | 48% | 53% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MRAM Max Drawdown | -32% | -62% | -20% | -45% | -37% | -71% | |
| Peers Max Drawdown | -24% | -44% | -28% | -45% | -39% | -37% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NVEC, MU, INTC, LSCC, RMBS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/21/2026 (YTD)
How Low Can It Go
| Event | MRAM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.2% | -18.8% |
| % Gain to Breakeven | 39.3% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -21.1% | -7.8% |
| % Gain to Breakeven | 26.7% | 8.5% |
| Time to Breakeven | 59 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -12.0% | -9.5% |
| % Gain to Breakeven | 13.6% | 10.5% |
| Time to Breakeven | 699 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.3% | -6.7% |
| % Gain to Breakeven | 15.3% | 7.1% |
| Time to Breakeven | 50 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -61.8% | -24.5% |
| % Gain to Breakeven | 161.5% | 32.4% |
| Time to Breakeven | 1290 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.0% | -33.7% |
| % Gain to Breakeven | 92.2% | 50.9% |
| Time to Breakeven | 46 days | 140 days |
In The Past
Everspin Technologies's stock fell -28.2% during the 2025 US Tariff Shock. Such a loss loss requires a 39.3% gain to breakeven.
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| Event | MRAM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.2% | -18.8% |
| % Gain to Breakeven | 39.3% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -21.1% | -7.8% |
| % Gain to Breakeven | 26.7% | 8.5% |
| Time to Breakeven | 59 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -61.8% | -24.5% |
| % Gain to Breakeven | 161.5% | 32.4% |
| Time to Breakeven | 1290 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.0% | -33.7% |
| % Gain to Breakeven | 92.2% | 50.9% |
| Time to Breakeven | 46 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.5% | -19.2% |
| % Gain to Breakeven | 36.1% | 23.8% |
| Time to Breakeven | 62 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -21.1% | -3.7% |
| % Gain to Breakeven | 26.7% | 3.9% |
| Time to Breakeven | 66 days | 6 days |
In The Past
Everspin Technologies's stock fell -28.2% during the 2025 US Tariff Shock. Such a loss loss requires a 39.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Everspin Technologies (MRAM)
Everspin Technologies (MRAM) is a semiconductor company specializing in the design, manufacture, and sale of magnetoresistive random access memory (MRAM) products. MRAM is a unique non-volatile memory technology prized for its ability to retain data even when power is removed, while also offering high speed and low power consumption. This makes it a crucial component for applications demanding both high performance and data persistence.
The company's product portfolio includes various types of MRAM, such as Toggle MRAM for robust, established applications, and spin-transfer torque MRAM (STT-MRAM), which represents a more advanced, high-performance generation of the technology. Additionally, Everspin offers tunnel magneto resistance (TMR) sensor products and provides specialized foundry services for customers looking to integrate embedded MRAM into their own semiconductor designs.
Everspin Technologies targets a broad array of demanding and performance-critical markets globally. Its MRAM products are essential for applications in data centers, industrial automation, medical equipment, automotive and transportation systems, and the aerospace sector. The company primarily serves original equipment manufacturers (OEMs) and original design manufacturers (ODMs) through a combination of direct sales and a network of representatives and distributors.
AI Analysis | Feedback
Here are 1-3 brief analogies for Everspin Technologies (MRAM):
- They're like a specialized Micron or Samsung, but exclusively manufacturing MRAM, a unique and robust memory technology.
- Imagine a semiconductor company like Intel or Qualcomm, but instead of CPUs or mobile chips, they create a cutting-edge, non-volatile memory called MRAM.
- They are a niche component supplier, much like Texas Instruments or Analog Devices, but their specialty is advanced MRAM chips for high-reliability applications.
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- Toggle MRAM: A type of magnetoresistive random access memory product.
- Spin-Transfer Torque MRAM (STT-MRAM): An advanced form of magnetoresistive random access memory.
- Tunnel Magneto Resistance Sensor Products: Products that utilize the tunnel magnetoresistance effect for sensing applications.
- Foundry Services for Embedded MRAM: Services that involve manufacturing embedded MRAM components for other companies.
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Everspin Technologies (MRAM) primarily sells its products to other companies, specifically Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs).
These customers integrate Everspin's magnetoresistive random access memory (MRAM) products, spin-transfer torque MRAM, and tunnel magneto resistance sensors into their own systems and products. The company serves customers across several key markets, including:
- Data Center
- Industrial
- Medical
- Automotive/Transportation
- Aerospace
While Everspin Technologies' financial filings (e.g., 10-K) indicate a high customer concentration, with a few major customers accounting for a significant portion of its revenue, the company does not publicly disclose the specific names of these major customers. This is common practice for component suppliers due to competitive and proprietary reasons.
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Sanjeev Aggarwal President and Chief Executive Officer
Dr. Sanjeev Aggarwal has been instrumental in shaping Everspin Technologies since its inception in 2008, holding various leadership positions including Chief Technology Officer, Vice President of Technology R&D, and Vice President of Operations. With over 25 years of expertise in the non-volatile memory and semiconductor industry, he joined Everspin from Freescale Semiconductor, where he was part of the team that spun out to form Everspin Technologies. Prior to Freescale, Dr. Aggarwal played a lead role in the development and commercialization of ferroelectric memories at Texas Instruments, for which he received a Technical Excellence Award. He holds a doctorate in Materials Science and Engineering from Cornell University.
William Cooper Chief Financial Officer
William "Bill" Cooper was appointed Chief Financial Officer of Everspin Technologies effective January 6, 2025. He brings over 20 years of semiconductor finance leadership experience. Prior to Everspin, Mr. Cooper held various executive finance positions at Advanced Micro Devices (AMD) from 2004 to 2024, including Director of Financial Planning and Analysis. At AMD, he was also involved in operations finance, supporting the spin-off of AMD's manufacturing facilities to GlobalFoundries. He served as Chief Financial Officer for the Data Division of Volex plc from 2015 to 2016. Earlier in his career, he spent a decade in finance management roles within the medical device industry and over five years in public accounting with PricewaterhouseCoopers LLP. Mr. Cooper is a Certified Public Accountant and holds a Bachelor of Business Administration in Accounting from the University of Texas at Austin.
Amit Shah Vice President of Operations
Amit Shah leads the Operations team at Everspin, overseeing year-over-year growth in shipments, product cost, quality, and customer commitments. He has over 25 years of leadership experience in supply chain, New Product Introduction (NPI), product and test engineering, operations, assembly, and package engineering. Mr. Shah joined Everspin in 2014 to manage MRAM product and test engineering activities.
Yong Kim Vice President, Engineering
Yong Kim is responsible for product development at Everspin, including design engineering. He is a 27-year veteran of the semiconductor industry, having joined Everspin in 2019 from Cypress Semiconductor, where he was Vice President of Design for NOR and 3D NAND products. Mr. Kim also held positions at Spansion and AMD before Spansion's acquisition by Cypress. He earned a Master of Science in Electrical Engineering from Santa Clara University and a Bachelor of Science in Electrical Engineering from Oregon State University.
David Schrenk Vice President, Business Development
David Schrenk focuses on acquiring new MRAM applications and users, developing manufacturing strategies, essential services, and strategic partnerships. He has been with Everspin since 2018, previously serving as Vice President of Sales and Business Development and Senior Director of Business Development and Business Marketing. His background includes over 18 years in sales and marketing roles at Intel Corporation, where he most recently managed the team responsible for mobile segment product pricing.
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The key risks to Everspin Technologies' business include challenges in scaling manufacturing and achieving consistent profitability, as well as an ongoing patent infringement lawsuit.
- Challenges in High-Volume Manufacturing and Operational Efficiency: Everspin Technologies faces the significant challenge of transitioning from a niche technology leader to a high-volume manufacturer. The company must consistently improve product yields, especially for its newer spin-transfer torque MRAM (STT-MRAM) products, to maintain its gross margin. This includes execution risk related to new product ramps.
- Pressure on Profitability and Operating Leverage: Despite maintaining strong gross margins, Everspin's operational overhead consumes most of its profit, resulting in a net profit margin significantly below the semiconductor industry average. The company reported a slim GAAP net income in Q3 2025 and a GAAP net loss for the full year 2025, with non-GAAP net income also declining compared to 2024. Additionally, licensing and royalty revenue, which traditionally carried high margins, has become less predictable and declined in 2025, contributing to overall margin pressure.
- Patent Infringement Lawsuit: In January 2026, Avalanche Technology filed a patent infringement lawsuit against Everspin Technologies in the United States District Court for the District of Delaware. The lawsuit specifically targets Everspin's Spin-transfer Torque MRAM product line. This legal action presents a significant risk, potentially leading to substantial costs, diversion of resources, and possible impacts on product sales or market access.
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Everspin Technologies (symbol: MRAM) operates in several addressable markets for its magnetoresistive random access memory (MRAM) products and tunnel magnetoresistance (TMR) sensor products.
The overall global MRAM market, which includes both Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM), was valued at approximately USD 3.19 billion to USD 4.22 billion in 2024. This market is projected for substantial growth, with estimates ranging from USD 21.14 billion by 2030 to USD 91.29 billion by 2034. North America is a significant region within the global MRAM market, contributing 36.9% to 48% of the global revenue in 2024. Specifically, the U.S. MRAM market was valued at USD 1.42 billion in 2024 and is predicted to reach around USD 28.98 billion by 2034.
For Everspin's key product categories:
- Spin-Transfer Torque MRAM (STT-MRAM): This segment is a dominant force within the global MRAM market. It held between 64% and 69.7% of the global MRAM market share in 2024. The STT-MRAM market was valued at USD 1.4 billion globally in 2025. STT-MRAM is recognized for its superior performance, including faster read/write speeds, lower power consumption, and higher density compared to traditional memory technologies.
- Toggle MRAM: While Everspin offers Toggle MRAM, specific standalone market sizing for this product type is not readily available in the provided data. Toggle MRAM is encompassed within the broader MRAM market.
- Tunnel Magneto Resistance (TMR) Sensor Products: The global TMR sensors market was valued at approximately USD 227.63 million to USD 535.00 million in 2024. This market is anticipated to expand, with projections estimating a value between USD 505.97 million by 2032 and USD 1.055.11 billion by 2032. North America held the largest market share for TMR sensors, accounting for 38% in 2024.
- Foundry Services for Embedded MRAM: Although a specific market size for "foundry services" is not explicitly provided, the embedded MRAM segment constituted 62.00% of the overall MRAM market share in 2025, indicating a substantial addressable market for these services globally.
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Everspin Technologies (NASDAQ: MRAM) anticipates several key drivers to fuel its revenue growth over the next two to three years:
- Ramp-up of High-Density STT-MRAM Applications: A significant driver is the continued ramp-up of high-density Spin-Transfer Torque MRAM (STT-MRAM) products, particularly the 1-gigabit PERSYST STT-MRAM in applications such as the IBM FlashCore Module 4 (FCM4) for data centers. This strategic win and its ongoing production are expected to contribute significantly to product revenue.
- Conversion of Design Wins into Production: Everspin has demonstrated a strong momentum in securing design wins, with 238 wins reported in 2025, an increase from 178 in the prior year. These design wins span various markets including industrial, energy management, data centers, automotive/transportation, gaming, and aerospace, and are projected to transition into production and contribute to revenue in 2026 and 2027.
- Expansion of High-Reliability PERSYST MRAM Products: The company is expanding its PERSYST high-reliability MRAM product portfolio, including the ramp of its 64Mb xSPI STT-MRAM to full production with shipments to low Earth orbit (LEO) satellite customers. Furthermore, Everspin is qualifying larger 128Mb and 256Mb high-reliability parts and plans a monolithic 256Mb tape-out on TSMC 16nm, aiming to launch a new Unified Memory family which will cater to high-value programs.
- Growth in Strategic Partnerships and New Market Penetration: Everspin is actively engaging in strategic partnerships and qualifications to expand MRAM applications. Examples include collaborations with Microchip for its PIC64 HPSC, and engagements with Lattice and the Fraunhofer Chiplet Center for advancements in industrial automation and automotive use cases. These partnerships are crucial for broadening the MRAM ecosystem and securing new opportunities in diverse end markets.
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Share Issuance
- Everspin Technologies' shares outstanding increased from 19.51 million in 2021 to 22.66 million in 2025, reflecting ongoing share issuances.
- The number of shares outstanding increased by approximately 3.57% in 2022, 3.18% in 2023, 4.41% in 2024, and 4.15% in 2025.
Inbound Investments
- Everspin Technologies received a strategic $14.55 million project from the Department of Defense (DoD) in August 2024 to provide stable MRAM manufacturing for aerospace and defense applications.
- In August 2024, the company secured a contract with Frontgrade Technologies for up to $9.25 million, with an initial phase valued at approximately $1.25 million, to provide MRAM technology for Strategic Radiation Hardened eMRAM macro development.
- A strategic award of up to $10.5 million over four years was granted to Everspin in March 2025 by a consortium led by Purdue University, with the current phase valued at approximately $4 million, to utilize Everspin MRAM for an in-memory compute project.
Capital Expenditures
- Capital expenditures were approximately $1.03 million in 2021, $1.404 million in 2023, and $3.06 million in 2024.
- The company reported $3.6 million in capital expenditures in Q4 2025, and total capital expenditures were about $4.99 million over the twelve months leading up to November 2025.
- Expected capital expenditures for 2026 are approximately $2.6 million, primarily focused on investing in MRAM technology, manufacturing capabilities, and developing products in advanced technology nodes (22nm and 16nm FinFet) with access to 300mm wafers.
Peer Outperformance in Semiconductors
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 56.5% | 203.8% | 337.5% | FLEX 733% · TTMI 686% · JBL 431% |
| Semiconductor Materials & Equipment | 27 | 137.0% | 78.5% | 122.3% | AEHR 1607% · AXTI 663% · KLAC 489% |
| Technology Distributors | 9 | 21.8% | 63.2% | 76.0% | CLMB 334% · AVT 153% · SNX 111% |
| Electronic Components | 26 | 54.5% | 63.6% | 57.4% | CLS 3162% · BELFA 1332% · LPTH 590% |
| Communications Equipment | 35 | 29.8% | 85.1% | 41.4% | AAOI 1714% · LITE 899% · ANET 702% |
| Semiconductors ← | 54 | 31.6% | 32.8% | 30.9% | POET 1926% · MU 1277% · NVDA 889% |
| Technology Hardware, Storage & Peripherals | 22 | 31.2% | 83.1% | 23.4% | STX 1046% · SMCI 949% · WDC 916% |
| Internet Services & Infrastructure | 6 | 13.9% | 40.0% | 15.0% | DOCN 108% · VRSN 34% · GDDY 33% |
| Electronic Equipment & Instruments | 27 | -7.9% | 14.3% | -4.5% | PI 209% · SOTK 138% · NSSC 127% |
| IT Consulting & Other Services | 28 | -25.2% | -6.7% | -18.1% | CHRN 627400% · APLD 1745% · INOD 705% |
| Application Software | 123 | -19.6% | -8.7% | -43.1% | VIDA 394900% · INLX 5338% · PLTR 617% |
| Systems Software | 69 | -7.8% | 17.1% | -55.4% | QNC 752% · PAYS 440% · PANW 386% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Everspin Technologies Earnings Notes | 12/16/2025 | |
| Can Everspin Technologies Stock Recover If Markets Fall? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 100.56 |
| Mkt Cap | 13.0 |
| Rev LTM | 704 |
| Op Inc LTM | 163 |
| FCF LTM | 231 |
| FCF 3Y Avg | 83 |
| CFO LTM | 288 |
| CFO 3Y Avg | 242 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 22.5% |
| Rev Chg 3Y Avg | 1.7% |
| Rev Chg Q | 52.1% |
| QoQ Delta Rev Chg LTM | 11.6% |
| Op Inc Chg LTM | 52.4% |
| Op Inc Chg 3Y Avg | -8.8% |
| Op Mgn LTM | 22.2% |
| Op Mgn 3Y Avg | 19.8% |
| QoQ Delta Op Mgn LTM | 2.0% |
| CFO/Rev LTM | 40.7% |
| CFO/Rev 3Y Avg | 38.3% |
| FCF/Rev LTM | 27.0% |
| FCF/Rev 3Y Avg | 17.4% |
Price Behavior
| Market Price | $17.11 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 10/07/2016 | |
| Distance from 52W High | -61.1% | |
| 50 Days | 200 Days | |
| DMA Price | $18.45 | $15.09 |
| DMA Trend | up | down |
| Distance from DMA | -7.3% | 13.4% |
| 3M | 1YR | |
| Volatility | 113.9% | 115.1% |
| Downside Capture | 708.47 | 483.74 |
| Upside Capture | 322.73 | 507.23 |
| Correlation (SPY) | 60.8% | 47.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.97 | 5.16 | 5.54 | 4.77 | 4.04 | 1.71 |
| Up Beta | 11.29 | 6.44 | 3.42 | 3.07 | 3.09 | 1.17 |
| Down Beta | -2.17 | 1.90 | 1.96 | 2.14 | 2.63 | 1.36 |
| Up Capture | 157% | 553% | 1156% | 2242% | 4701% | 2015% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 9 | 18 | 27 | 64 | 130 | 365 |
| Down Capture | 732% | 477% | 465% | 280% | 193% | 112% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 13 | 24 | 35 | 60 | 118 | 366 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRAM | |
|---|---|---|---|---|
| MRAM | 188.8% | 114.6% | 1.42 | - |
| Sector ETF (XLK) | 41.9% | 26.0% | 1.31 | 55.1% |
| Equity (SPY) | 21.1% | 12.9% | 1.22 | 46.9% |
| Gold (GLD) | 37.5% | 28.8% | 1.10 | 19.8% |
| Commodities (DBC) | 43.2% | 20.2% | 1.66 | 3.3% |
| Real Estate (VNQ) | 12.9% | 13.8% | 0.64 | 4.1% |
| Bitcoin (BTCUSD) | -31.6% | 44.1% | -0.73 | 28.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRAM | |
|---|---|---|---|---|
| MRAM | 25.4% | 78.8% | 0.60 | - |
| Sector ETF (XLK) | 19.7% | 25.9% | 0.68 | 45.2% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 38.6% |
| Gold (GLD) | 20.6% | 18.6% | 0.90 | 12.0% |
| Commodities (DBC) | 10.4% | 19.6% | 0.41 | 5.9% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 16.3% |
| Bitcoin (BTCUSD) | 10.4% | 52.8% | 0.38 | 22.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRAM | |
|---|---|---|---|---|
| MRAM | 8.3% | 79.1% | 0.44 | - |
| Sector ETF (XLK) | 24.1% | 24.9% | 0.88 | 35.1% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 30.9% |
| Gold (GLD) | 12.7% | 16.2% | 0.64 | 5.3% |
| Commodities (DBC) | 8.0% | 18.0% | 0.36 | 10.9% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 15.5% |
| Bitcoin (BTCUSD) | 63.1% | 66.1% | 1.03 | 8.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/14/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -3.0% | 5.7% | |
| 11/5/2025 | -17.2% | -14.6% | -12.9% |
| 8/6/2025 | 1.5% | 6.9% | 9.6% |
| 4/30/2025 | 11.7% | 10.8% | 5.8% |
| 2/26/2025 | -1.4% | -4.0% | -9.8% |
| 10/30/2024 | -9.4% | -8.9% | -10.0% |
| 7/31/2024 | -2.9% | -15.9% | -11.1% |
| 5/1/2024 | -13.1% | -18.8% | -20.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 9 |
| # Negative | 14 | 14 | 13 |
| Median Positive | 7.4% | 6.9% | 10.1% |
| Median Negative | -10.4% | -9.9% | -11.1% |
| Max Positive | 39.7% | 22.5% | 33.5% |
| Max Negative | -25.7% | -38.7% | -38.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -3.0% | 5.7% | |
| 11/5/2025 | -17.2% | -14.6% | -12.9% |
| 8/6/2025 | 1.5% | 6.9% | 9.6% |
| 4/30/2025 | 11.7% | 10.8% | 5.8% |
| 2/26/2025 | -1.4% | -4.0% | -9.8% |
| 10/30/2024 | -9.4% | -8.9% | -10.0% |
| 7/31/2024 | -2.9% | -15.9% | -11.1% |
| 5/1/2024 | -13.1% | -18.8% | -20.4% |
| 2/28/2024 | -11.4% | -10.1% | -13.3% |
| 11/1/2023 | -11.3% | -9.8% | -4.9% |
| 8/2/2023 | 7.5% | 7.5% | 12.8% |
| 5/3/2023 | 7.4% | 5.6% | 29.5% |
| 3/1/2023 | -0.9% | -3.4% | -3.9% |
| 11/9/2022 | -8.2% | -2.3% | 3.6% |
| 8/11/2022 | 39.7% | 22.5% | 7.5% |
| 5/11/2022 | -9.4% | -6.8% | -10.0% |
| 3/2/2022 | -12.9% | -9.3% | -13.8% |
| 11/12/2021 | 13.6% | 13.6% | -1.3% |
| 8/12/2021 | 2.9% | 2.5% | 17.2% |
| 5/6/2021 | 7.4% | 3.1% | 33.5% |
| 2/25/2021 | 0.7% | -10.8% | 10.1% |
| 11/5/2020 | -23.3% | -26.9% | -33.1% |
| 8/6/2020 | -25.7% | -38.7% | -38.8% |
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 9 |
| # Negative | 14 | 14 | 13 |
| Median Positive | 7.4% | 6.9% | 10.1% |
| Median Negative | -10.4% | -9.9% | -11.1% |
| Max Positive | 39.7% | 22.5% | 33.5% |
| Max Negative | -25.7% | -38.7% | -38.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 03/04/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/02/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 03/04/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/02/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/09/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 03/04/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 03/13/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
Recent Forward Guidance
Updated 8/6/2026Latest: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | 19.50 Mil | 20.00 Mil | 20.50 Mil | ||||
| Q3 2026 GAAP Net Loss Per Share | -0.1 | -0.07 | -0.05 | ||||
| Q3 2026 Non-GAAP Net Income Per Diluted Share | 0.1 | 0.12 | 0.15 | ||||
Prior: Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 14.00 Mil | 14.50 Mil | 15.00 Mil | 3.6% | Higher New | Guidance: 14.00 Mil for Q3 2025 | |
| Q4 2025 GAAP Net Income per Diluted Share | 0.02 | 0.04 | 0.07 | Higher New | Guidance: -0.03 for Q3 2025 | ||
| Q4 2025 Non-GAAP Net Income per Diluted Share | 0.08 | 0.1 | 0.13 | 133.3% | Higher New | Guidance: 0.04 for Q3 2025 | |
Insider Activity
Updated 8/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Dougherty, Sean Michael | Vice President, Sales | Direct | Sell | 7062026 | 22.34 | 358 | 7,998 | 2,215,525 | Form |
| 2 | Aggarwal, Sanjeev | President and CEO | Direct | Sell | 7062026 | 22.34 | 30,885 | 689,971 | 18,755,793 | Form |
| 3 | Cooper, William Earl | Chief Financial Officer | Direct | Sell | 7062026 | 22.34 | 1,549 | 34,605 | 3,339,406 | Form |
| 4 | Finch, Lawrence G | Direct | Sell | 6022026 | 26.40 | 268,130 | 7,078,884 | 4,551,390 | Form | |
| 5 | Finch, Lawrence G | See Footnote | Sell | 6022026 | 34.29 | 41,961 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Dougherty, Sean Michael | Vice President, Sales | Direct | Sell | 7062026 | 22.34 | 358 | 7,998 | 2,215,525 | Form |
| 2 | Aggarwal, Sanjeev | President and CEO | Direct | Sell | 7062026 | 22.34 | 30,885 | 689,971 | 18,755,793 | Form |
| 3 | Cooper, William Earl | Chief Financial Officer | Direct | Sell | 7062026 | 22.34 | 1,549 | 34,605 | 3,339,406 | Form |
| 4 | Finch, Lawrence G | Direct | Sell | 6022026 | 26.40 | 268,130 | 7,078,884 | 4,551,390 | Form | |
| 5 | Finch, Lawrence G | See Footnote | Sell | 6022026 | 34.29 | 41,961 | Form | |||
| 6 | Ribar, Geoffrey G | Direct | Sell | 5212026 | 28.87 | 27,488 | 793,579 | 2,715,599 | Form | |
| 7 | Cooper, William Earl | Chief Financial Officer | Direct | Sell | 5212026 | 29.13 | 10,000 | 291,300 | 4,399,504 | Form |
| 8 | Aggarwal, Sanjeev | President and CEO | Direct | Sell | 5192026 | 32.62 | 102,192 | 3,333,171 | 26,726,885 | Form |
| 9 | Aggarwal, Sanjeev | President and CEO | Direct | Sell | 5192026 | 40.00 | 8,784 | 351,360 | 32,776,880 | Form |
| 10 | Hawk, Glen | Direct | Sell | 5152026 | 37.95 | 48,563 | 1,843,109 | 1,501,077 | Form | |
| 11 | Billerbeck, Darin G | Direct | Sell | 5132026 | 37.16 | 30,000 | 1,114,800 | 4,610,553 | Form | |
| 12 | Cooper, William Earl | Chief Financial Officer | Direct | Sell | 5072026 | 21.75 | 11,000 | 239,250 | 3,502,402 | Form |
| 13 | Aggarwal, Sanjeev | President and CEO | Direct | Sell | 5052026 | 19.58 | 28,459 | 557,227 | 16,044,283 | Form |
| 14 | Aggarwal, Sanjeev | President and CEO | Direct | Sell | 4022026 | 9.20 | 19,440 | 178,848 | 7,800,505 | Form |
| 15 | Cooper, William Earl | Chief Financial Officer | Direct | Sell | 4022026 | 9.20 | 1,549 | 14,251 | 1,582,676 | Form |
| 16 | Aggarwal, Sanjeev | President and CEO | Direct | Sell | 1062026 | 10.22 | 25,345 | 259,026 | 5,614,991 | Form |
| 17 | Long, Tara | Direct | Sell | 11262025 | 7.70 | 7,500 | 57,750 | 620,728 | Form | |
| 18 | Billerbeck, Darin G | Direct | Sell | 11122025 | 9.42 | 12,000 | 113,040 | 1,168,768 | Form | |
| 19 | Aggarwal, Sanjeev | President and CEO | Direct | Sell | 10032025 | 10.15 | 17,147 | 174,042 | 5,833,784 | Form |
| 20 | Aggarwal, Sanjeev | PRESIDENT AND CEO | Direct | Sell | 8112025 | 6.02 | 1,768 | 10,643 | 3,563,262 | Form |
| 21 | Aggarwal, Sanjeev | PRESIDENT AND CEO | Direct | Sell | 8082025 | 6.10 | 1,357 | 8,278 | 3,621,399 | Form |
Investor Activity (13F)
Updated Aug 24, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Semiconductors Resources |
| EE Times |
| Semiconductor Engineering |
| Semiconductor Digest |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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