The core business is accelerating with record revenue and strong guidance, but the GAAP loss from litigation and regulatory costs is a persistent overhang. Watch for resolution of the litigation and regulatory matters to unlock GAAP profitability, and monitor Q4 revenue guidance execution for further upside.
Price Chart
Executive Summary
Everspin reported Q3 2026 record revenue of $20.6M (+47% YoY), above the $20.1M consensus, driven by strong product and licensing revenue growth. GAAP net loss was $7.2M due to $6.0M in litigation expenses and a $2.7M regulatory provision, but non-GAAP net income rose to $3.1M ($0.12 per share), matching the Street consensus of $0.12. Q4 2026 revenue guidance of $21.5M-$22.5M implies continued strong growth, though GAAP losses are expected to persist.
Key Financial Metrics
Key Facts
- Q3 2026 total revenue of $20.6M, up 47% YoY from $14.1M and above the $20.1M consensus
- MRAM product sales of $16.9M, up 33% YoY from $12.7M
- Licensing, royalty, engineering services and other revenue of $3.7M, up 170% YoY from $1.4M
- GAAP net loss of $7.2M ($0.29 per share) vs net income of $54K in Q3 2025, impacted by $6.0M litigation costs and $2.7M regulatory provision
- Non-GAAP net income of $3.1M ($0.12 per diluted share), up 109% YoY from $1.5M ($0.06), matching the $0.12 consensus
- Q4 2026 revenue guidance of $21.5M-$22.5M, implying continued strong sequential growth
- Cash and cash equivalents of $43.0M as of September 30, 2026
- Gross margin of 51.4%, roughly flat YoY
Financial Impact
Revenue grew 47% YoY to $20.6M; non-GAAP EPS doubled to $0.12; GAAP loss of $7.2M from one-time items
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| MRAM Product Sales | $16.9M | +33.5% |
| Licensing, Royalty, Engineering Services and Other | $3.7M | +170.3% |
Risk Factors
- Ongoing litigation expenses of $6.0M in Q3 and $4.0M in Q2 2026, with no end date disclosed
- Regulatory provision of $2.7M in Q3, nature and recurrence unclear
- GAAP net loss expected to continue in Q4 2026 ($0.08-$0.13 per share guidance)
- Cash burn: operating cash flow of $1.6M YTD vs $7.3M in prior year period
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-067890 |
| Document: mram-20261028.htm | 0001628280-26-067890 |
| Document: 0001628280-26-067890-index-headers.html | 0001628280-26-067890 |
| Document: 0001628280-26-067890-index.html | 0001628280-26-067890 |
| Document: 0001628280-26-067890.txt | 0001628280-26-067890 |
| 8-K Data (Synthetic) | 0001628280-26-067890 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 2d ago | 8-K | $14.43 | awaiting T+20 | awaiting T+20 | $13.61 (−5.68%) |
Oct 5, 2026 25d ago | Insider Cluster | $17.76 | awaiting T+20 | awaiting T+20 | $13.61 (−23.37%) |
Jul 8, 2026 16w ago | Insider Cluster | $18.14 $15.65 | ▼ −13.73% | ▼ −15.97% | $13.61 (−24.97%) |
Jul 6, 2026 16w ago | Insider Cluster | $17.68 $15.45 | ▼ −12.61% | ▼ −13.95% | $13.61 (−23.02%) |
Jun 11, 2026 20w ago | Institutional Cluster | $24.20 $18.14 | ▼ −25.04% | ▼ −26.93% | $13.61 (−43.76%) |
Jun 2, 2026 21w ago | Insider Cluster | $28.57 $19.14 | ▲ +33.01% | ▲ +32.01% | $13.61 (+52.36%) |
May 21, 2026 23w ago | Insider Cluster | $32.70 $21.10 | ▲ +35.47% | ▲ +33.53% | $13.61 (+58.38%) |
May 21, 2026 23w ago | Insider Cluster | $33.68 $24.04 | ▲ +28.64% | ▲ +27.22% | $13.61 (+59.59%) |
May 21, 2026 23w ago | Insider Cluster | $33.68 $24.04 | ▲ +28.64% | ▲ +27.22% | $13.61 (+59.59%) |
May 21, 2026 23w ago | Insider Cluster | $33.68 $24.04 | ▲ +28.64% | ▲ +27.22% | $13.61 (+59.59%) |
US Market Status
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