Everspin Technologies, Inc. Q1 2026 Earnings Recap

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.