Everspin Technologies (MRAM) AI Stock Analysis

• Market Cap: $143.90M
• Dividend Yield: N/A
• Average Volume (3M): 64.16K
• Price to Earnings (P/E): 84.2
• Beta (1Y): 0.94
• Revenue Growth: -11.27%
• EPS Growth: -9.20%
• Country: US
• Employees: 86
• Sector: Technology
• Sector Strength: 84
• Industry: Semiconductors
• EPS (TTM): -0.03
• Shares Outstanding: 22,625,107
• 10 Day Avg. Volume: 71,095
• 30 Day Avg. Volume: 64,158
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.74
• Enterprise Value/Revenue: 2.05
• Enterprise Value/Gross Profit: 4.03
• Enterprise Value/Ebitda: 84.26
• 1Y Price Target: $8.50
• Price Target Upside: 32.81% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 65 Neutral
• Price Target: $6.50 ▲(1.56% Upside)

Everspin Technologies' overall stock score is driven by strong financial stability and positive earnings call highlights, including revenue growth and cash flow strength. However, high valuation metrics and mixed technical indicators present challenges. The company's profitability issues and high P/E ratio suggest caution, despite a solid balance sheet and positive market sentiment.

Positive Factors

Market Opportunities

Satellites are viewed as a natural fit for MRAM technology, which can drive greater opportunities.

Product Development

Newer xSPI products were identified as a source of strength, indicating management's focus on additional density offerings is effective.

Product Growth

Everspin saw stronger Product growth driven by Data Center and Industrial Automation.

Revenue Guidance

MRAM's revenue guidance came in above Street expectations.

Negative Factors

Financial Performance

A lower Product Gross Margin is evident, leading to a reduction in GM estimates.

Profitability

The company is working with multiple Licensing partners in various stages of development, generating high-margin revenues.

Everspin Technologies Business Overview & Revenue Model

Company Description

Everspin Technologies is a leading provider of Magnetoresistive Random Access Memory (MRAM) solutions, specializing in advanced non-volatile memory technology. The company primarily operates in the semiconductor sector, focusing on developing and manufacturing MRAM products that offer significant speed and endurance advantages over traditional memory technologies. Everspin's core offerings include standalone MRAM chips and embedded MRAM for various applications, including automotive, industrial, and data center markets, addressing the growing demand for high-performance, reliable memory solutions.

How the Company Makes Money

Everspin generates revenue primarily through the sale of its MRAM products, which include both standalone chips and embedded memory solutions. The company has established key partnerships with major players in the semiconductor industry, enabling it to integrate its technology into a variety of applications across automotive, industrial automation, and computing sectors. Significant revenue streams come from direct sales to original equipment manufacturers (OEMs) and distributors, as well as licensing agreements for its proprietary MRAM technology. The company also benefits from government contracts and grants aimed at promoting advanced semiconductor technologies, further contributing to its earnings.

Everspin Technologies Financial Statement Overview

Summary

Everspin Technologies shows a mixed financial performance with strong operational cash flows and a well-capitalized balance sheet. However, challenges in declining revenues and profitability issues are evident, with a negative net profit margin and revenue contraction.

Income Statement

Everspin Technologies showed a challenging financial period with a declining revenue trend over the TTM (Trailing-Twelve-Months). The Gross Profit Margin is healthy at 50.3%, but the company is struggling with profitability as indicated by a negative Net Profit Margin of -0.25% and negative EBIT Margin of -17.15%. EBITDA Margin remains slightly positive at 0.70%, highlighting some operational efficiency. Revenue growth has been negative, indicating contraction and pressure on expansion.

Balance Sheet

The company has a solid equity position with an Equity Ratio of 78.57%, indicating a strong capitalization structure. The Debt-to-Equity Ratio is low at 0.07, showing a low reliance on debt financing which reduces financial risk. However, Return on Equity is negative, reflecting the impact of negative net income on shareholder returns.

Cash Flow

The cash flow situation is moderately positive with an Operating Cash Flow to Net Income Ratio of 79.94, indicating robust cash operations relative to net income. Free Cash Flow to Net Income Ratio stands at 57.43, underscoring positive cash generation capability. However, Free Cash Flow Growth has been inconsistent, showing a decrease in the latest TTM compared to the previous year.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	51.67M	50.40M	63.77M	59.98M	55.15M	42.03M
Gross Profit	26.27M	26.13M	37.24M	33.95M	33.07M	18.09M
EBITDA	1.26M	2.47M	7.09M	7.40M	6.35M	-5.61M
Net Income	1.66M	781.00K	9.05M	6.13M	4.34M	-8.51M
Balance Sheet
Total Assets	78.92M	77.79M	67.30M	55.33M	39.44M	32.53M
Cash, Cash Equivalents and Short-Term Investments	44.96M	42.10M	36.95M	26.80M	21.41M	14.60M
Total Debt	4.00M	4.64M	5.58M	9.30M	5.75M	10.40M
Total Liabilities	14.85M	15.20M	13.38M	16.67M	12.21M	15.12M
Stockholders Equity	64.08M	62.59M	53.92M	38.66M	27.24M	17.41M
Cash Flow
Free Cash Flow	8.40M	4.05M	11.72M	6.71M	8.33M	-3.24M
Operating Cash Flow	13.13M	7.10M	13.13M	9.49M	9.36M	-2.92M
Investing Cash Flow	-5.70M	-3.06M	-1.39M	-2.59M	-1.03M	-320.00K
Financing Cash Flow	771.00K	1.11M	-1.59M	-1.52M	-1.52M	3.35M

Everspin Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.40
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRAM, the sentiment is Positive. The current price of 6.4 is above the 20-day moving average (MA) of 6.20, below the 50-day MA of 6.40, and above the 200-day MA of 5.96, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 52.95 is Neutral, neither overbought nor oversold. The STOCH value of 64.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MRAM.

Everspin Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVEC	74 Outperform	$309.53M	21.29	23.09%	6.13%	-9.22%	-13.57%
MRAM	65 Neutral	$143.90M	84.21	2.76%	―	-11.27%	-9.20%
Sector *	61 Neutral	$35.51B	8.11	-10.49%	1.89%	8.55%	-8.72%
NVTS	52 Neutral	$1.23B	―	-32.05%	―	-25.65%	-130.95%
GSIT	51 Neutral	$85.24M	―	-36.97%	―	6.14%	1.71%
MX	47 Neutral	$109.93M	―	-7.81%	―	4.09%	9.30%
ATOM	39 Underperform	$103.26M	―	-100.22%	―	-92.34%	8.99%

Everspin Technologies Corporate Events

Everspin Technologies Holds Annual Stockholders Meeting

On May 22, 2025, Everspin Technologies held its Annual Meeting of Stockholders, where key decisions were made regarding the election of directors, the ratification of Ernst & Young LLP as the independent auditor for 2025, and the approval of executive compensation. All seven directors proposed were elected, Ernst & Young’s appointment was ratified, and the executive compensation was approved, reflecting strong shareholder support for the company’s leadership and financial oversight.