Everspin Technologies (MRAM) H.C. Wainwright 28th Annual Global Investment Conference summary

Company overview and market position

• Leading developer and manufacturer of MRAM solutions with over 200 million units shipped and 2,000+ customers worldwide.

• Holds 700 patents and operates globally with headquarters in Arizona and design centers in Texas.

• Only domestic provider of MRAM for critical aerospace and defense applications.

• Strong partnerships with GlobalFoundries, TSMC, and Microchip, and expanding with a new facility in Oregon.

• Management team with extensive industry experience and a proven track record.

Financial performance and targets

• Cash flow positive from operations for the last three years, with $44 million in cash and no debt as of June 30.

• Gross margins have remained above 50% for several years.

• 2025 revenues reached $55 million, with a target to achieve $100 million by 2029.

• Q2 2026 saw record revenue of $18.7 million, with Q3 guidance of $19.5–$20.5 million.

• Signed a $40 million subcontract with a U.S. government prime contractor, to be recognized over 2.5 years.

Product innovation and roadmap

• MRAM offers high endurance, non-volatility, and radiation hardness, making it ideal for aerospace, defense, and data centers.

• Current product families include Toggle MRAM, STT-MRAM, and xSPI, with new UNISYST NOR-like products taping out end of 2026.

• Entering the NOR flash market with a product launch planned for early 2027, targeting a $3.5–$4.5 billion TAM.

• Roadmap includes LPDDR5/6 ultra-fast products for data centers and AI inferencing at the edge.

• Demonstrating MRAM compatibility with CXL protocol at an industry event in September.