Everspin Technologies Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
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.
Why this colour
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.
What the thesis turns on
Assessment: Opportunities & Risks
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.
Niche & technology
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.
Earnings quality
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.
Balance sheet & liquidity
$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.
Concentration & litigation
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.
Momentum & valuation
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).
Worth Noting
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.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at MRAM since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 7.50 $ to 44.00 $ · Last price: 14.80 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
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.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Semiconductors
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Everspin Technologies Inc MRAM | 0.3 | – | 67.1 | 52.3 | – | 9.5 | 88.4 |
| NVIDIA Corporation NVDA | 5,540.3 | 30.4 | 22.4 | 74.7 | 65.6 | 65.5 | 29.1 |
| Broadcom Inc AVGO | 1,652.3 | 55.2 | 33.7 | 75.5 | 49.0 | 23.9 | 1.1 |
| Micron Technology Inc MU | 1,269.8 | 20.7 | 15.8 | 72.6 | 80.4 | 48.9 | 512.0 |
| Advanced Micro Devices Inc AMD | 943.2 | 177.7 | 77.8 | 55.7 | 14.4 | 34.3 | 242.5 |
| Intel Corporation INTC | 546.8 | – | 145.4 | 38.9 | 6.9 | -0.5 | 337.0 |
| Arm Holdings plc ARM | 282.9 | 267.6 | 221.2 | 97.5 | 7.6 | 22.8 | 58.6 |
| Texas Instruments Incorporated TXN | 234.9 | 39.7 | 26.1 | 58.3 | 37.8 | 13.1 | 46.9 |
| Marvell Technology Group Ltd MRVL | 232.5 | 79.7 | 45.0 | 52.2 | 14.5 | 42.1 | 239.9 |
| Median of companies shown | 546.8 | 55.2 | 45.0 | 58.3 | 26.2 | 23.9 | 88.4 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
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.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($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 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| 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 |
| 2026: Q2 | -0.15 | -400.00 | 19 | 41.70 | -19.30 | 0 | -1 |
What Do These Terms Mean?
- 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.
Screening
Appears in These Scanners
This stock currently matches 11 of our scanner strategies — each hit links to the scanner.
Breakout & Setup
Earnings & Surprises
Momentum & Trend
- Gary Antonacci: Dual Momentum (Stock Adaptation)
- High ADR (≥5%)
- Mike Webster: Swing Trading List
- RS Leader (≥90)
- Richard Moglen: Top Performers 3/6 Month
- Stage 2 Leader
- Stan Weinstein: Stage 2
Research
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
Outlook
Analysts & Price Target
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.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.47 | 0.46 – 0.48 | 75 | 113.6% | 3 |
| 12/31/2027 | 0.48 | 0.45 – 0.54 | 86 | 2.8% | 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.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Everspins 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.
10-Q · 2025-08-06 · View SEC filing
„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.
10-Q · 2026-04-29 · View SEC filing
„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.
10-K · 2026-03-04 · View SEC filing
Rated on July 18, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -2.7%
- More than 10% revenue growth is expected for the coming year 12.4%
- Share count grows by less than 3% a year 2.8%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 15.2%
- Gross margin at 40% or higher and without meaningful erosion 51.2%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 41 m net cash
- Operating cash flow covers the profits of the last three years 21 m
- Return on capital at 15% or higher, or up versus two years ago -9.2%
- Insiders hold at least 10% or are net buyers 6.0%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
5/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 8.2%
- Exp. sales growth 3Y > 5% 25.0%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 25.0%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 3
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% -0.9%
- ROCE > 15% -9.1%
- Expected return > 10% 26.1%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 10, 2026 | Choudhary Vikas | Director | Other | 15,693 | 0.00 | – |
| Aug 4, 2026 | Dougherty Sean Michael | Vice President, Sales | Other | 8,610 | 0.00 | – |
| Aug 4, 2026 | Cooper William Earl | Chief Financial Officer | Other | 8,610 | 0.00 | – |
| Aug 4, 2026 | Finch Lawrence G | Director | Other | 1,089 | 0.00 | – |
The 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
- 10/07/2016
- 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.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/11/2026 EVERSPIN TECHNOLOGIES INC. (MRAM): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers SEC ↗
- 08/05/2026 EVERSPIN TECHNOLOGIES INC. (MRAM): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 07/17/2026 EVERSPIN TECHNOLOGIES INC. (MRAM): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers SEC ↗
Data as of: September 17, 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.