M
EVERSPIN TECHNOLOGIES INC.
MRAMCIK 0001438423NasdaqNon-AcceleratedSmaller ReportingSemiconductors & Related DevicesX1FY ends Dec 31
Period
FY 2025
Revenue
$55.20M
Net Income
$-586.0K
Total Assets
$84.61M
Equity
$68.92M
Shares Out
23.45M
Op. Cash Flow
$9.96M
Business
Everspin Technologies Inc. commercializes magnetoresistive random access memory (MRAM) technology, offering non-volatile memory solutions that protect mission-critical data. It sells Toggle MRAM and spin-transfer torque (STT-MRAM) products, high-sensitivity 3D TMR sensors, licensing and royalty arrangements, and BEOL foundry services including wafer-level integration and assembly/test. Its business is organized around discrete MRAM products, embedded MRAM through strategic foundry partnerships, IP licensing/patent monetization, and contract foundry services. The company distributes products direct and via distributors and representatives to OEMs, ODMs and end customers across the Americas, Europe and Asia-Pacific in industrial, medical, automotive, aerospace/defense and data center markets.
Summary from filing dated 2025-02-27
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 55 | 50 | 64 | 60 | 55 | |
| Total cost of sales | 27 | 24 | 27 | 26 | 22 | |
| Gross profit | 28 | 26 | 37 | 34 | 33 | |
| Research and development | 14 | 14 | 12 | 11 | 13 | |
| General and administrative | 15 | 14 | 14 | 12 | 11 | |
| Sales and marketing | 6 | 5 | 5 | 5 | 4 | |
| Total operating expenses | 35 | 33 | 31 | 28 | 28 | |
| Loss from operations | −7 | −7 | 6 | 6 | 5 | |
| Interest income | 2 | 2 | — | — | — | |
| Other income, net | 4 | 6 | 3 | 190,000 | −141,000 | |
| Net (loss) income before income taxes | −457,000 | 741,000 | 9 | 6 | 4 | |
| Income tax (expense) benefit | −129,000 | 40,000 | 16,000 | −14,000 | −4,000 | |
| Net (loss) income and comprehensive (loss) income | −586,000 | 781,000 | 9 | 6 | 4 | |
| Basic (in dollars per share) | −0.03 | 0.04 | 0.44 | 0.3 | 0.22 | |
| Diluted (in dollars per share) | −0.03 | 0.04 | 0.42 | 0.29 | 0.22 | |
| Basic (in shares) | 23 | 22 | 21 | 20 | 19 | |
| Diluted (in shares) | 23 | 22 | 21 | 21 | 20 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 44 | 42 | 37 | 27 | 21 | |
| Accounts receivable, net | 8 | 12 | 12 | 11 | 8 | |
| Inventory | 11 | 9 | 8 | 7 | 6 | |
| Prepaid expenses and other current assets | 2 | 1 | 988,000 | 604,000 | 762,000 | |
| Total current assets | 65 | 64 | 58 | 45 | 37 | |
| Property and equipment, net | 14 | 3 | 4 | 4 | 973,000 | |
| Intangible assets, net | 2 | 3 | — | — | — | |
| Right-of-use assets | 3 | 5 | 5 | 7 | 913,000 | |
| Other assets | 342,000 | 2 | 212,000 | 62,000 | 734,000 | |
| Total assets | 85 | 78 | 67 | 55 | 39 | |
| Accounts payable | 5 | 2 | 3 | 3 | 2 | |
| Accrued liabilities | 4 | 2 | 4 | 4 | 4 | |
| Deferred revenue | 0 | 78,000 | 336,000 | 821,000 | 832,000 | |
| Lease liabilities, current portion | 1 | 1 | 1 | 1 | 724,000 | |
| Contract obligations | 1 | 2 | — | — | — | |
| Software liabilities, current portion | 2 | 2 | — | 3 | 3 | |
| Total current liabilities | 13 | 10 | 9 | 11 | 10 | |
| Lease liabilities, net of current portion | 2 | 3 | 4 | 6 | 68,000 | |
| Software liabilities, net of current portion | 15,000 | 2 | — | — | 2 | |
| Long-term income tax liability | 268,000 | 162,000 | 214,000 | 214,000 | 214,000 | |
| Total liabilities | 16 | 15 | 13 | 17 | 12 | |
| Commitments and contingencies (Note 5) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value per share; 5,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and 2024, respectively | 0 | 0 | — | — | — | |
| Common stock, $0.0001 par value per share; 100,000,000 shares authorized; 22,977,797 and 22,059,697 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | |
| Additional paid-in capital | 206 | 199 | 192 | 185 | 180 | |
| Accumulated deficit | −137 | −137 | −138 | −147 | −153 | |
| Total stockholders equity | 69 | 63 | 54 | 39 | 27 | |
| Total liabilities and stockholders equity | 85 | 78 | 67 | 55 | 39 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net (loss) income | −586,000 | 781,000 | 9 | 6 | 4 | |
| Depreciation and amortization | 3 | 2 | 1 | 982,000 | 1 | |
| Gain on sale of property and equipment | −25,000 | 0 | −15,000 | −167,000 | — | |
| Stock-based compensation | 6 | 7 | 5 | — | — | |
| Accounts receivable | 4 | −168,000 | −889,000 | −2 | −586,000 | |
| Inventory | −2 | −719,000 | −2 | −287,000 | −675,000 | |
| Prepaid expenses and other current assets | −605,000 | −284,000 | −384,000 | 158,000 | −492,000 | |
| Other assets | 360,000 | −492,000 | −150,000 | −28,000 | 11,000 | |
| Accounts payable | −501,000 | −374,000 | 499,000 | 563,000 | −571,000 | |
| Accrued liabilities | 806,000 | −2 | 803,000 | −46,000 | 2 | |
| Deferred revenue | −78,000 | −258,000 | −485,000 | −11,000 | 832,000 | |
| Contract obligations | −562,000 | 2 | — | — | — | |
| Lease liabilities, net | 60,000 | 74,000 | 24,000 | 182,000 | −219,000 | |
| Long-term income tax liability | 106,000 | 0 | — | — | — | |
| Net cash provided by operating activities | 10 | 7 | 13 | 9 | 9 | |
| Purchases of property and equipment | −7 | −3 | −1 | −3 | −1 | |
| Purchases of intangible assets | −2 | −11,000 | — | — | — | |
| Net cash used in investing activities | −9 | −3 | −1 | −3 | −1 | |
| Proceeds from exercise of stock options and purchase of shares in employee stock purchase plan | 1 | 1 | 1 | — | — | |
| Payments on finance leases | −67,000 | −66,000 | −12,000 | 11,000 | — | |
| Net cash provided by financing activities | 1 | 1 | −2 | −2 | −2 | |
| Net increase in cash and cash equivalents | 2 | 5 | 10 | 5 | 7 | |
| Cash paid for taxes | 38,000 | 202,000 | — | — | — | |
| Operating cash flows paid for operating leases | 1 | 1 | 1 | 1 | 2 | |
| Financing cash flows paid for finance leases | 67,000 | 66,000 | — | — | — | |
| Internal-use software asset obtained in exchange for software liabilities | 0 | 4 | — | — | — | |
| Right-of-use assets obtained in exchange for finance lease liabilities | 0 | 297,000 | — | 36,000 | — | |
| Purchases of property and equipment in accounts payable and accrued liabilities | 4 | 182,000 | 446,000 | 807,000 | 340,000 |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro