EVERSPIN TECHNOLOGIES INC. MRAM
We are a pioneer in the successful commercialization of Magnetoresistive Random Access Memory (MRAM) technology. Our portfolio of MRAM technologies, including Toggle MRAM, Tunnel Magneto Resistance (TMR) Sensors, and Spin-transfer Torque MRAM (STT-MRAM), is delivering superior performance, persistence and reliability in non-volatile memories that transform how mission-critical data is protected against power loss. With over 20 years of MRAM technology and manufacturing leadership, our memory solutions deliver significant value to our customers in key markets such as industrial, medical, automotive/transportation, aerospace and defense, and data center. We are the leading supplier of discrete MRAM components and a successful licensor of our broad portfolio of related technology and intellectual property.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $55.2M | $50.4M | $63.8M | $60.0M | $55.1M | $42.0M | $37.5M | $49.4M | $35.9M | $27.1M |
| Cost of revenue | $27.0M | $24.3M | $26.5M | $26.0M | $22.1M | $23.9M | $19.2M | $24.1M | $14.5M | $12.4M |
| Gross profit | $28.2M | $26.1M | $37.2M | $33.9M | $33.1M | $18.1M | $18.3M | $25.3M | $21.5M | $14.7M |
| R&D | $14.1M | $13.7M | $11.8M | $11.1M | $12.6M | $10.9M | $14.2M | $23.6M | $25.4M | $19.2M |
| SG&A | $14.6M | $14.1M | $14.3M | $11.7M | $10.9M | $10.8M | $12.4M | $12.6M | $11.5M | $7.3M |
| Total operating expenses | $34.8M | $33.2M | $31.4M | $27.7M | $28.0M | $25.7M | $32.7M | $42.7M | $41.7M | $30.2M |
| Operating income | -$6.5M | -$7.1M | $5.9M | $6.2M | $5.0M | -$7.6M | -$14.4M | -$17.3M | -$20.2M | -$15.5M |
| Interest expense | — | — | $63.0K | $274.0K | $547.0K | $665.0K | $747.0K | $890.0K | $764.0K | $2.3M |
| Pre-tax income | -$457.0K | $741.0K | $9.0M | $6.1M | $4.3M | -$8.3M | -$14.7M | -$17.8M | -$21.1M | -$16.7M |
| Income tax | $129.0K | $40.0K | $16.0K | $14.0K | $4.0K | $260.0K | $0 | $0 | $0 | $0 |
| Net income | -$586.0K | $781.0K | $9.1M | $6.1M | $4.3M | -$8.5M | -$14.7M | -$17.8M | -$21.1M | -$16.7M |
| EPS, basic | -0.03 | 0.04 | 0.44 | 0.30 | 0.22 | -0.45 | — | — | — | — |
| EPS, diluted | -0.03 | 0.04 | 0.42 | 0.29 | 0.22 | -0.45 | -0.85 | -1.08 | -1.69 | -3.53 |
| Shares, diluted (wtd. avg.) | $22.6M | $22.2M | $21.4M | $20.8M | $20.0M | $18.8M | $17.3M | $16.4M | $12.6M | $5.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $44.5M | $42.1M | $36.9M | $26.8M | $21.4M | $14.6M | $14.5M | $23.4M | $12.9M | $29.7M |
| Receivables | $8.1M | $11.7M | $11.6M | $10.7M | $8.2M | $7.6M | $5.8M | $7.5M | $4.0M | $3.2M |
| Inventory | $10.7M | $9.1M | $8.4M | $6.7M | $6.4M | $5.7M | $7.9M | $9.1M | $9.8M | $5.1M |
| Total current assets | $65.2M | $64.2M | $57.9M | $44.7M | $36.8M | $28.2M | $28.7M | $40.7M | $27.4M | $39.5M |
| Property, plant and equipment | $14.1M | $3.2M | $3.7M | $3.9M | $973.0K | $1.9M | $3.5M | $4.3M | $3.9M | $1.9M |
| Other intangibles | $1.7M | $3.4M | — | — | — | — | — | — | — | — |
| Total assets | $84.6M | $77.8M | $67.3M | $55.3M | $39.4M | $32.5M | $35.4M | $45.0M | $31.4M | $41.5M |
| Accounts payable | $5.2M | $2.3M | $2.9M | $2.8M | $1.8M | $2.2M | $2.9M | $2.6M | $2.9M | $1.5M |
| Short-term debt | $1.8M | $1.8M | — | $2.6M | $3.4M | $4.2M | $670.0K | $6.0M | $4.0M | $3.9M |
| Total current liabilities | $13.5M | $9.9M | $8.8M | $10.9M | $10.3M | $10.2M | $7.9M | $13.6M | $12.4M | $10.4M |
| Long-term debt | $15.0K | $1.8M | — | — | $1.5M | $3.7M | $7.1M | $6.5M | $8.2M | $4.2M |
| Total liabilities | $15.7M | $15.2M | $13.4M | $16.7M | $12.1M | $15.1M | $16.9M | $20.1M | $20.6M | $14.6M |
| Retained earnings | -$137.5M | -$136.9M | -$137.7M | -$146.7M | -$152.8M | -$157.2M | -$148.7M | -$134.0M | -$117.5M | -$96.4M |
| Total equity | $68.9M | $62.6M | $53.9M | $38.7M | $27.2M | $17.4M | $18.5M | $24.9M | $10.9M | $26.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $10.0M | $7.1M | $13.1M | $9.5M | $9.4M | -$2.9M | -$8.1M | -$14.7M | -$18.9M | -$18.5M |
| Stock-based compensation | $5.8M | $6.7M | $5.0M | $4.4M | $3.2M | $4.0M | $3.6M | $2.7M | $2.0M | $1.1M |
| Capital expenditure | $6.8M | $3.0M | $1.4M | $2.8M | $1.0M | $320.0K | $861.0K | $1.9M | $3.1M | $1.0M |
| Investing cash flow | -$8.7M | -$3.1M | -$1.4M | -$2.6M | -$1.0M | -$320.0K | -$861.0K | -$1.9M | -$3.1M | -$1.0M |
| Financing cash flow | $1.1M | $1.1M | -$1.6M | -$1.5M | -$1.5M | $3.4M | $85.0K | $27.0M | $5.2M | $47.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-024076.
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