Everspin Technologies, Inc. Q3 2026 Earnings Recap

Everspin reported record third-quarter revenue, with product revenue up year over year and sequentially; the stock fell 1.5% after earnings, a roughly flat reaction. The quarter was at the high end of company guidance, while the call also highlighted ongoing product development and manufacturing timelines.

Key Takeaways

• Revenue was $20.6 million, a company record, and non-GAAP EPS was $0.12.
• Product revenue increased 34% year over year and 11% sequentially, driven by Industrial Automation, Data Center, Medical and Energy Management demand.
• Management said the Gresham fab program remains on schedule, with first qualified silicon targeted for Toggle and sensor products in the second half of 2027 and STT products in the first half of 2028.
• Everspin remains on track for a 256-megabit xSPI prototype using TSMC’s 16-nanometer process in the first half of 2027; it also demonstrated CXL-connected MRAM in September.
• The call cited new and advancing space-based design wins and a strategic partnership with Teledyne HiRel to offer Everspin STT-MRAM products to military and aerospace customers.