Everspin Technologies Inc ( (MRAM) ) has released its Q3 earnings. Here is a breakdown of the information Everspin Technologies Inc presented to its investors.
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Everspin Technologies, Inc., headquartered in Chandler, Arizona, is the leading provider of magnetoresistive random access memory (MRAM) solutions, catering to industrial IoT, data centers, and other mission-critical applications requiring robust, non-volatile memory.
In its unaudited third-quarter 2025 financial report, Everspin Technologies reported a revenue increase driven by strong demand in sectors such as Low Earth Orbital Satellite, Casino Gaming, and Energy Management. The company continues to expand its market presence through internal development and strategic partnerships.
Key financial highlights include a total revenue of $14.1 million, up from $12.1 million in the same quarter of 2024, with MRAM product sales contributing $12.7 million. Despite a gross margin improvement to 51.3%, the GAAP net income saw a significant decline to $54,000 from $2.3 million in the previous year. Non-GAAP net income also decreased to $1.5 million from $3.8 million.
The company maintains a strong balance sheet with cash and cash equivalents rising to $45.3 million. Everspin’s management remains optimistic about future growth, projecting fourth-quarter revenues between $14.0 million and $15.0 million, with GAAP net income per diluted share expected to range from $0.02 to $0.07.
Looking ahead, Everspin aims to leverage its financial flexibility to invest in growth opportunities while maintaining prudent expense management. The company remains vigilant about external conditions that could impact its outlook, including supply chain constraints and market volatility.