Everspin beats Q1 expectations with $14.87M revenue and Microchip deal
Everspin Technologies has released its first-quarter results for 2026, showing stronger-than-expected revenue and profits. The company, which specialises in MRAM (Magnetoresistive Random Access Memory), also announced a major 10-year manufacturing deal with Microchip Technology. Meanwhile, its stock price reached a new high in early May, though executives have been selling shares in recent months. The company reported first-quarter revenue of $14.87 million, beating Wall Street’s estimate of $14.60 million. Earnings per share came in at $0.11, while the net margin stood at 0.50% and return on equity at 4.78%. Despite the positive figures, analysts project a weaker second quarter, with earnings per share forecasted between $0.000 and $0.030.
Everspin’s stock price climbed to a peak of $23.10 on May 8 before settling at $22.59 by the close. Trading volume that day reached around 437,000 shares. The company now holds a market capitalisation of $593 million, though its price-to-earnings ratio remains unusually high at 2,532. In early May, top executives sold roughly $796,000 worth of shares. Over the past three months, insiders have offloaded about 60,448 shares, totalling nearly $990,000. Despite this, Everspin has secured a long-term production partnership with Microchip Technology, ensuring full control over its intellectual property and manufacturing. Under the 10-year agreement, MRAM production will take place at a new Oregon facility. Initial shipments from this site are expected in the second half of 2027.
Everspin’s latest financial results and manufacturing deal signal steady growth in its MRAM business. The company’s stock performance remains strong, though insider sales have drawn attention. With production set to begin in Oregon by late 2027, the partnership with Microchip Technology could further shape its long-term position in the market.
