Everspin Technologies, Inc. Earnings Recaps
Q2 2026
Aug 8, 2026
Shares of Everspin Technologies declined 10.2% following Q2 results, driven by cautious outlook concerns and the winding down of a key DoD sustainment contract, which weighed on investor sentiment despite strong product revenue growth.
Key takeaways
- Q2 revenue reached $18.7 million, marking the highest quarter in company history, supported by a $40 million agreement with a U.S. prime contractor.
- Product revenue grew 38% year-over-year and 9% sequentially, fueled by strength in industrial automation, energy management, and aerospace and defense sectors.
- The $14.6 million DoD sustainment contract began winding down, contributing only $0.5 million in other income this quarter, with expected completion in H1 2027.
- Product pipeline advances include the upcoming 256-megabit xSPI tape-out and customer availability of high-reliability 128-megabit and 256-megabit xSPI parts ahead of schedule.
- Ongoing development projects target expansion into data center markets with CXL interface-based MRAM solutions, aiming to improve compute efficiency and expand total addressable market.
Q1 2026
Apr 30, 2026
Everspin shares surged 43.5% after reporting first quarter results at the high end of guidance, a major new $40 million U.S. defense agreement, and progress on the next generation of MRAM products. The magnitude of the market reaction reflects both operational execution and incremental strategic wins well above investor expectations.
Key takeaways
- Q1 revenue reached $14.9 million, at the top end of management’s guidance.
- Non-GAAP EPS came in at $0.11 per diluted share.
- Announced a new $40 million, 2.5-year agreement as a subcontractor to a U.S. defense prime, expanding defense and aerospace visibility.
- Upward momentum in Industrial Automation, Transportation, and Data Center segments, with highlighted customer adoption in railway signaling and hyperscale data centers.
- UNISYST MRAM family targeting the $3 billion NOR Flash market was introduced; engineering samples are planned for Q4 2026, with PERSYST high-reliability parts progressing toward 2H26 volume availability.