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Everspin Technologies
(NASDAQ:MRAM)
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Rating:53Neutral
Price Target:
$13.00
▼(-13.85% Downside)
Action:Reiterated
Date:07/30/26
The score is held up primarily by a strong, low-leverage balance sheet and generally constructive earnings-call operational updates, but is weighed down by a pronounced technical downtrend and a very high P/E with no dividend support. Ongoing profitability/FCF instability, litigation expense, and capex needs further limit the near-term profile.
Positive Factors
Conservative Balance Sheet
Very low leverage and a sizable equity base provide durable financial flexibility, lowering solvency risk and enabling the company to fund R&D, foundry ramp and defense subcontract execution without urgent external financing, supporting multi-quarter operational plans.
Negative Factors
Volatile Profitability
Earnings have swung between healthy profits and losses across recent years, implying profitability is not yet consistent. This volatility limits reliable internal cash generation and weakens return on equity, complicating capital allocation for growth initiatives over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage and a sizable equity base provide durable financial flexibility, lowering solvency risk and enabling the company to fund R&D, foundry ramp and defense subcontract execution without urgent external financing, supporting multi-quarter operational plans.
Read all positive factors
Everspin Technologies (MRAM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$339.05M
Dividend YieldN/A
Average Volume (3M)1.63M
Price to Earnings (P/E)1210.8
Beta (1Y)1.90
Revenue Growth15.94%
EPS GrowthN/A
CountryUS
Employees85
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.01
Shares Outstanding23,447,577
10 Day Avg. Volume1,152,820
30 Day Avg. Volume1,631,673
Financial Highlights & Ratios
PEG Ratio2.07
Price to Book (P/B)3.04
Price to Sales (P/S)3.79
P/FCF Ratio67.08
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$38.00Price Target Upside151.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.01
Revenue Forecast (FY)$69.57M
Everspin Technologies Business Overview & Revenue Model
Company Description
Everspin Technologies, Inc. is a global provider specializing in the development and distribution of advanced magnetoresistive random access memory (MRAM) products. The company's market reach extends across various international regions, including...
How the Company Makes Money
Everspin primarily makes money by selling MRAM-based semiconductor memory products to customers that incorporate these devices into their systems and equipment. Its core revenue stream is product revenue from the shipment of MRAM components (inclu...
Everspin Technologies Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call highlights solid product-driven revenue growth (total revenue +14% YoY; MRAM product sales +28% YoY), strong gross margins (>50%), important strategic partnerships (Microchip foundry agreement) and a new $40M subcontract that adds defense revenue potential. However, near-term headwinds include meaningful litigation costs, reduced operating cash flow, a decline in licensing revenue, elevated CapEx for capacity expansion, and uncertainty around the timing and recognition of the new subcontract revenue. UNISYST provides meaningful long-term TAM expansion (~$3B) but will take time to contribute materially. On balance the call presents more material operational and strategic positives supported by improving product sales and margins, while calling out manageable but nontrivial near-term financial and timing risks.Positive Updates
Revenue Growth at High End of Guidance
Total revenue $14.9M, toward the high end of guidance and up 14% year-over-year.
Negative Updates
Decline in Licensing and Other Revenue
Licensing, royalty, patent and other revenue decreased to $0.8M from $2.1M in Q1'25, a drop of ~62%, due to fewer active projects.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth at High End of Guidance
Total revenue $14.9M, toward the high end of guidance and up 14% year-over-year.
Read all positive updates
Company Guidance
Guidance for Q2 (excluding any impact from the newly announced $40.0M, 2.5‑year subcontract) calls for total revenue of $15.5–$16.5 million, a GAAP net loss per fully diluted share of $0.12 to $0.07, and non‑GAAP net income of $0.00 to $0.03 per fully diluted share (non‑GAAP excludes patent litigation costs and stock‑based compensation). Management said the $40M agreement should be materially positive over the next 2.5 years but offered no revenue phasing yet; other timing/forward items noted include winding down the prior $14.6M DoD contract ( $12.8M recognized to date) by H1 2027, UNISYST engineering samples expected Q4 2026, and first products from the Microchip line shipping in H2 2027. For context, Q1 results were $14.9M revenue (MRAM product sales $14.1M, +28% y/y), non‑GAAP EPS $0.11 on 23.1M weighted average diluted shares, GAAP gross margin 52.7%, cash & equivalents $40.5M, and Q1 litigation expense of roughly $1.6M that is expected to persist at similar levels for a few quarters.Everspin Technologies Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
78
Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 56.94M | 55.20M | 50.40M | 63.77M | 59.98M | 55.15M |
| Gross Profit | 29.33M | 28.24M | 26.13M | 37.24M | 33.95M | 33.07M |
| EBITDA | 3.45M | 2.75M | 2.47M | 10.30M | 7.40M | 6.35M |
| Net Income | 284.00K | -586.00K | 781.00K | 9.05M | 6.13M | 4.34M |
Balance Sheet | ||||||
| Total Assets | 83.19M | 84.61M | 77.79M | 67.30M | 55.33M | 39.38M |
| Cash, Cash Equivalents and Short-Term Investments | 40.49M | 44.45M | 42.10M | 36.95M | 26.80M | 21.41M |
| Total Debt | 3.00M | 3.34M | 4.64M | 5.58M | 9.30M | 5.69M |
| Total Liabilities | 12.95M | 15.69M | 15.20M | 13.38M | 16.67M | 12.14M |
| Stockholders Equity | 70.25M | 68.92M | 62.59M | 53.92M | 38.66M | 27.24M |
Cash Flow | ||||||
| Free Cash Flow | -1.19M | 3.12M | 4.05M | 11.72M | 6.71M | 8.33M |
| Operating Cash Flow | 9.09M | 9.96M | 7.10M | 13.13M | 9.49M | 9.36M |
| Investing Cash Flow | -12.12M | -8.67M | -3.06M | -1.39M | -2.59M | -1.03M |
| Financing Cash Flow | 1.36M | 1.07M | 1.11M | -1.59M | -1.52M | -1.52M |
Everspin Technologies Technical Analysis
Negative
15.09
Price Trends
22.07
Negative
18.96
Negative
14.66
Negative
Market Momentum
-2.25
Negative
36.69
Neutral
51.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRAM, the sentiment is Negative. The current price of 15.09 is below the 20-day moving average (MA) of 16.02, below the 50-day MA of 22.07, and above the 200-day MA of 14.66, indicating a bearish trend. The MACD of -2.25 indicates Negative momentum. The RSI at 36.69 is Neutral, neither overbought nor oversold. The STOCH value of 51.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MRAM.
Everspin Technologies Risk Analysis
Everspin Technologies disclosed 11 risk factors in its most recent earnings report. Everspin Technologies reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Everspin Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $555.40M | 31.26 | 30.53% | 3.40% | 24.07% | 23.86% | |
67 Neutral | $364.45M | -7.79 | -11.02% | ― | -8.30% | -139.29% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
53 Neutral | $339.05M | 1,210.83 | 0.42% | ― | 15.94% | ― | |
49 Neutral | $3.07B | 1,741.50 | -6.21% | ― | 45.81% | ― | |
48 Neutral | $280.62M | -46.73 | -17.19% | ― | 43.23% | -34.14% | |
45 Neutral | $197.07M | -7.94 | -84.79% | ― | -40.50% | 1.62% |
* Technology Sector Average
MRAM
Everspin Technologies
14.53
8.52
141.76%
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Everspin Technologies Corporate Events
Business Operations and StrategyExecutive/Board Changes
Everspin Technologies announces upcoming board leadership transition
Neutral
Jul 17, 2026
On July 14, 2026, Everspin Technologies, Inc. disclosed that Lawrence G. Finch had notified the company of his decision to resign from its board of directors, including his role on the audit committee, effective August 4, 2026. The company emphasi...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Everspin Shareholders Expand Equity Plan, Reaffirm Board Oversight
Positive
May 22, 2026
On May 21, 2026, Everspin Technologies, Inc. shareholders approved an amendment and restatement of the company’s 2016 Equity Incentive Plan, adding authorization for 1.8 million additional shares and expanding the ceiling for incentive stock...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.