Everspin Technologies posts record Q2 2026 revenue, issues Q3 earnings outlook

Everspin Technologies, the leading developer of MRAM persistent memory, announced unaudited second‑quarter 2026 results. Total revenue reached $18.7 million, up from $13.2 million a year earlier, driven by $15.3 million in MRAM product sales and $3.4 million from licensing and services. Gross margin improved to 53.9%, while GAAP net loss was $3.6 million and non‑GAAP net income $2.9 million. Cash and cash equivalents stood at $43.9 million. CEO Sanjeev Aggarwal said the quarter was “driven by strong product revenue and a new $40 million contract with a U.S. prime contractor,” and CFO Bill Cooper highlighted the balance between strategic investment and expense management.

For the third quarter, Everspin forecast revenue of $19.5 million‑$20.5 million and earnings per share of $0.10‑$0.15, roughly matching consensus estimates. Analysts noted a recent downgrade by Weiss Ratings and a target‑price increase by Needham & Company, with the stock trading around $16.14 and a market cap of $378.5 million.