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Everspin Technologies (MRAM) investor relations material
Everspin Technologies Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue reached $14.1 million, up 16.3% year-over-year, driven by strong MRAM product sales and growth in LEO satellite, casino gaming, and energy management markets.
Net income for Q3 2025 was $54,000 (GAAP), down from $2.3 million in Q3 2024; non-GAAP net income was $1.5 million ($0.06 per share), down from $3.8 million ($0.17 per share).
Gross margin improved to 51.3% from 49.2% year-over-year, attributed to better yields and fabrication utilization.
The company operates in a single segment focused on MRAM technology solutions for industrial, medical, automotive, aerospace, and data center markets.
Strategic collaborations and ongoing projects in automotive, industrial, and edge applications support future growth.
Financial highlights
MRAM product sales were $12.7 million, up 22% year-over-year; licensing, royalty, and other revenue was $1.4 million, down 17% year-over-year.
Q3 2025 gross profit was $7.2 million, up from $6.0 million year-over-year.
Operating loss narrowed to $1.5 million from $2.1 million year-over-year.
Cash and cash equivalents ended at $45.3 million, up $3.2 million since year-end 2024.
Cash flow from operations for the nine months ended September 30, 2025, was $7.3 million, up from $3.3 million in the prior year period.
Outlook and guidance
Q4 2025 revenue expected between $14 million and $15 million.
GAAP net income per diluted share projected at $0.02–$0.07; non-GAAP at $0.08–$0.13.
Nonproduct revenue expected to remain around 10% of total revenue.
OpEx anticipated to remain consistent at approximately $7.5 million in Q4.
Management believes cash and cash equivalents are sufficient to meet anticipated capital requirements for the next 12 months.
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