Everspin Technologies Inc (MRAM)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Whoever buys today bets that product revenue keeps growing double-digit, that the patent war ends mildly, and that the operating result turns before the award crutch falls away in early 2027 — and pays six to nine times revenue for it, at roughly 11 percent daily swing. Whoever waits checks four things in every quarterly report (10-Q): Is product revenue still growing double-digit? Is the operating result approaching zero? How are the Avalanche lawsuit and the ITC proceeding developing? And what remains once the award milestones run out? The decision is yours.
symbol.quality_note
Everspin of Chandler, Arizona, is the only listed company that lives entirely off MRAM magnetic memory — the ticker is literally MRAM. Revenue grew 9.5 percent to $55.2 million in 2025, yet the company lost $6.5 million at the operating level; the bottom line only landed near zero thanks to interest income and an aerospace-and-defense award worth up to $14.6 million. On Reddit the stock is a whisper with 5 mentions in 24 hours (ApeWisdom, as of July 18, 2026) — but our in-house stock scanner listed it in ten momentum rankings at once (data as of July 8, 2026). We read the annual reports (10-K), the quarterly report (10-Q), a fresh 8-K and the insider filings. Not investment advice — just a tape measure held against the gap between the price story and the operating result.
Read the analysis
Stock Watch
This analysis is as of July 18, 2026. Stock Watch will tell you what's changed at MRAM since then.
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Appears in These Scanners
This stock currently matches 10 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 14.50 $ — 23% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
Sells AIEverspins MRAM-Chips sind Speicherbausteine — KI ist im 10-K nur eines von mehreren Absatzmarkt-Etiketten. Ausschlaggebend ist die Lizenz-/Auftragsentwicklungs-Sparte: Die 10-Q-Berichte 2025 dokumentieren eine bezahlte „new agreement for the development of an AI technology application“ als Treiber der Licensing-/Engineering-Umsätze; laut 10-Q zum 31.03.2026 ist diese Vereinbarung ausgelaufen und der Umsatzrückgang wird ausdrücklich damit begründet. KI-Entwicklungsdienste waren damit im geprüften Berichtsfenster eine dokumentierte — inzwischen beendete — Umsatzquelle; Vorrang-Regel: verkauft.
View the full file — quotes, sources, reviewed filings
„The increase was primarily due to the progression of our contractual agreements with customers for the development of RAD-Hard products, a new agreement for the development of an AI technology application, partially offset by the conclusion of a contractual arrangement with a customer for the development of reliability models for strategic radiation hardened toggle MRAM."
Der Anstieg beruhte vor allem auf dem Fortschritt unserer Entwicklungsverträge mit Kunden für RAD-Hard-Produkte sowie einer neuen Vereinbarung zur Entwicklung einer KI-Technologie-Anwendung, teilweise ausgeglichen durch das Auslaufen einer vertraglichen Vereinbarung mit einem Kunden zur Entwicklung von Zuverlässigkeitsmodellen für strategisches strahlungsgehärtetes Toggle-MRAM.
„The decrease was primarily due to the conclusion of an agreement for the development of an AI technology application."
Der Rückgang beruhte vor allem auf dem Auslaufen einer Vereinbarung zur Entwicklung einer KI-Technologie-Anwendung.
„They are ideal for use in electronic systems where data persistence and integrity, low power, low latency, and security are paramount, such as industrial IoT, artificial intelligence (AI), network/enterprise infrastructure, process automation and control, aeronautics/avionics, and medical and gaming applications."
Sie eignen sich ideal für elektronische Systeme, in denen Datenbeständigkeit und -integrität, geringer Stromverbrauch, niedrige Latenz und Sicherheit entscheidend sind — etwa industrielles IoT, Künstliche Intelligenz (KI), Netzwerk-/Unternehmens-Infrastruktur, Prozessautomatisierung und -steuerung, Luftfahrt/Avionik sowie Medizin- und Gaming-Anwendungen.
Rated on July 18, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 70.1% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 2
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.40 | 0.28 – 0.54 | 70 | 83.3% | 3 |
| 12/31/2027 | 0.47 | 0.35 – 0.58 | 78 | 15.7% | 3 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.01 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.05 | -38.30 | 13 | -20.70 | 9.20 | 2 | 0 |
| 2025: Q1 | -0.05 | – | 13 | -9.00 | -8.40 | 1 | 1 |
| 2025: Q2 | -0.03 | – | 13 | 24.10 | -5.10 | 5 | 3 |
| 2025: Q3 | 0.00 | -97.60 | 14 | 16.30 | 0.40 | 1 | 1 |
| 2025: Q4 | 0.05 | -1.50 | 15 | 11.80 | 8.10 | 3 | -1 |
| 2026: Q1 | -0.01 | – | 15 | 13.20 | -2.00 | 1 | -4 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 27 | -15 | -17 | -1.36 | -19 | 27 | 42 |
| 2017 | 36 | -20 | -21 | -1.69 | -19 | 11 | 31 |
| 2018 | 49 | -17 | -18 | -1.08 | -15 | 25 | 45 |
| 2019 | 38 | -14 | -15 | -0.85 | -8 | 18 | 35 |
| 2020 | 42 | -8 | -9 | -0.45 | -3 | 17 | 33 |
| 2021 | 55 | 5 | 4 | 0.22 | 9 | 27 | 39 |
| 2022 | 60 | 6 | 6 | 0.30 | 9 | 39 | 55 |
| 2023 | 64 | 6 | 9 | 0.42 | 13 | 54 | 67 |
| 2024 | 50 | -7 | 1 | 0.04 | 7 | 63 | 78 |
| 2025 | 55 | -7 | -1 | -0.03 | 10 | 69 | 85 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Leading supplier of discrete MRAM components (10-K 2025) with more than 20 years of manufacturing experience, over 1,405 end customers and a gross margin stable above 51 percent — plus a licensing business, the RAD-Hard program with Frontgrade and an aerospace-and-defense award that documents the supply chain's security-policy relevance.
Loss-making at the operating level since 2024 (−$7.1 million and −$6.5 million; Q1 2026: −$2.7 million); the near-zero bottom line comes from interest income and award milestones ($6.1/$4.4/$2.2 million) — the award arithmetically runs out in early 2027, after which the factory must close the gap on its own.
$40.5 million in cash with no bank debt against only $12.9 million in total liabilities (03/31/2026), an Altman Z around 7.7 and a Piotroski score of 8 out of 9 (data as of July 8, 2026) — the current loss rate is covered for years; the counterweight is $137.8 million of accumulated deficit since 2008.
Customer A accounted for 25 percent of 2025 revenue and 57 percent of receivables, two end customers for 33 percent of revenue; GLOBALFOUNDRIES is the sole STT wafer source including take-or-pay obligations — and since January 2026 the Avalanche patent lawsuit plus ITC proceeding (Section 337) has been running with no accrual booked.
Ten momentum scanner hits, +155 percent in three months, RS rating 97 — but roughly 11 percent daily swing, −28 percent in the month before the data cut-off (July 8, 2026), a P/S between 6 and 9 for single-digit revenue growth, and a board member's complete exit near the high (310,091 shares, ~$8.5 million, May 2026).
Everspin is the label trap in its purest form: the only listed MRAM bet, technologically real, clean on the balance sheet ($40.5 million cash, no bank debt) and holding a 51 percent gross margin in a genuine niche — but loss-making at the operating level since 2024, without revenue growth across the cycle (2025 at the level of 2021), and with a near-breakeven that is paid for by interest and a $14.6 million award expiring in early 2027. Add Customer A at 57 percent of receivables, the Avalanche lawsuit with its ITC proceeding, and a board member who exited completely near the high. Whoever invests buys a technology option at a growth price — carried by momentum, not by results. Not investment advice.
- MRAM landed on the research list via the Reddit hype scanner (5 mentions in 24 hours, ApeWisdom, as of July 18, 2026) — in our in-house stock scanner the stock stood exclusively in momentum and trend rankings on July 8, 2026: attention and price strength are the topic here, not valuation.
- Scanner metrics (P/S, Piotroski, Altman Z, fundamental grade, relative strength) work with trailing twelve-month figures; the award income sits inside the net numbers and polishes them — the operating loss only shows one line above the bottom line.
- Price and valuation figures are dated: ~$21.80 and ~$490 million market value on July 8, 2026, ~$340 million on July 18, 2026; analyses are evergreen, daily prices are not a buy argument. Not to be confused: NVE Corp (Nasdaq: NVEC) uses the same spintronics physics but is a different, highly profitable sensor company.
About the Company
Everspin Technologies, Inc. fertigt und verkauft Technologien für magnetoresistive Random-Access-Memory (MRAM) in den USA, Japan, Hongkong, Deutschland, Singapur, Kanada und international.
| Employees | 85 |
|---|---|
| Headquarters | Chandler, AZ |
| Address | 5670 West Chandler Boulevard, 85226 Chandler, United States |
| Phone | 480 347 1111 |
| Website | everspin.com |
| IPO Date | 7. Oct 2016 |
| ISIN | US30041T1043 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Sanjeev Aggarwal Ph.D. | President, CEO & Director | 1967 |
| William Cooper | Chief Financial Officer | 1966 |
| Sean Dougherty | Vice President of Sales | 1967 |
| Amit Shah | Vice President of Operations | – |
| Kerry Nagel | Vice President of Technology | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.