MRAM
Everspin Technologies, Inc.

Everspin Technologies, Inc.MRAM

Technology · Semiconductors
11.74USD
+9.41%
Nov 08, 2026
MRAM overview ready
Supplier of MRAM memory and sensors for industrial and automotive markets
Everspin is a specialized commercial supplier of standalone Toggle MRAM and STT-MRAM products, with related magnetic-sensor and foundry capabilities.
Primary theme is lagging
Memory Semiconductors is lagging (-29.1pp vs SPY over 21 sessions; 0 of 6 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced.
Solid fundamentals
Ev / sales is strong.
Primary risk
Technology adoption risk for MRAM versus competing memory types.
Market Nov 6Filing Jun 30Price action Nov 7Research Jul 17

Conviction Level

PriceAction1.4BusinessPerformance5.0BusinessQuality4.8Valuation5.4ThemeMomentum1.0Mixed — Revenue growth has accelerated across 3 consecutive quarters, rising from +12% to +42% year over year. The company is still loss-making: the diluted loss per share widened to -$0.15 from -$0.03 a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−29.1pp
Theme return
−34.1%
Beating SPY
0 of 6
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$285.9M
Avg Volume (60D)
811.1K
60 sessions
Revenue Growth YoY
+9.5%
FY2025 vs FY2024
Gross Margin
+52.3%
Trailing twelve months
Operating Margin
-15.5%
Trailing twelve months
Free Cash Flow Yield
-1.9%
Distance from 200DMA
-29.8%
P/E
N/M
EV / Sales
3.9x
Market metrics as of Nov 6, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Business Performance

Mixed

Revenue growth has accelerated across 3 consecutive quarters, rising from +12% to +42% year over year. The company is still loss-making: the diluted loss per share widened to -$0.15 from -$0.03 a year earlier.

Latest reported: Q2 FY2026, ended Jun 30
Revenue growthAccelerating
+42%
$18.7M in Q2 FY2026 · YoY
YoY growth, last 4 quarters
  1. +16%
  2. +12%
  3. +13%
  4. +42%
Earnings growthLoss widening
-$0.15
Diluted EPS -$0.15 vs -$0.03 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginContracting
-23.4%
-8.5 pp YoY · gross margin 53.9% (+2.6 pp)
The share count is rising

Business Quality

4.8 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

The available comparisons disagreed; the peers comparison is the more reliable method for this business and the others are published as dissent.
Everspin Technologies, Inc. has a Fair valuation stance because the price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced.

What changed

  • MRAM rose 9.4% in one session
    MRAM closed +9.4% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
Everspin is a specialized commercial supplier of standalone Toggle MRAM and STT-MRAM products, with related magnetic-sensor and foundry capabilities.
Key risk
Technology adoption risk for MRAM versus competing memory types.

Economic classification

Loading the economic classification…

Business & Markets

Technology · Semiconductors
What they do

Everspin Technologies designs, manufactures, and sells magnetoresistive random access memory (MRAM) products and related magnetic sensors globally, serving various industries through direct sales and foundry services.

How it earns

The company generates revenue primarily through transactional sales of MRAM products, sensors, and foundry services to OEMs and contract manufacturers.

Products & services
Toggle MRAM
Spin-transfer torque (STT) MRAM
Tunnel magneto resistance sensors
MRAM foundry services
Customers & end markets
Industrial
Medical
Automotive/transportation
Aerospace
Defense
Data center
Market position

Niche specialized supplier focused on standalone Toggle MRAM and STT-MRAM products with complementary sensor and foundry capabilities.

Demand drivers
Medium cyclicality

Demand is influenced by capital spending cycles in industrial, automotive, and data center markets.