Filing Flows › Everspin Technologies (MRAM) › Q1 2026
Everspin Technologies (MRAM) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
Everspin Technologies (MRAM) reported revenue of $14.9M for the first quarter 2026 (Q1 2026), +13% from a year earlier and +0.5% from the quarter before. Operating margin was -18.3%, net loss $296K (2.0% of revenue).
Everspin Technologies, Q1 2026: revenue $14.9M (+13% year over year), operating margin -18.3%, net loss $296K, operating cash flow $570K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.9M | +0.5% | +13% |
| Operating profit | −$2.7M | — | — |
| Net earnings | −$296K | -125% | — |
| Operating cash flow | $570K | -78% | -60% |
What changed
Revenue was $14.9M in Q1 2026, up 13% year over year and roughly flat from the previous quarter. Product sales was the largest line at 95% of revenue. Product sales added $3.1M year over year (up 28%), 177% of the total change. Engineering services and other revenue declined 57%.
Gross margin was 52.7%, up 1.3 points from Q1 2025. Operating costs exceeded revenue by $2.7M, an operating margin of -18.3%. Operating expenses grew 22% against revenue growth of 13%. The fastest-growing cost line was General & admin (+32%). The quarter ended with a net loss of $296K, after a profit of $1.2M the previous quarter. Non-operating items added $2.4M, -827% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $570K (down 60% year over year). Non-cash charges added back $699K of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items used $1.1M. Capital expenditures of $4.4M exceeded it, leaving free cash flow of −$3.8M.
Questions
What was Everspin Technologies' revenue in the first quarter 2026?
Everspin Technologies (MRAM) reported revenue of $14.9M for the first quarter 2026 (Q1 2026), +13% from a year earlier and +0.5% from the quarter before.
Was Everspin Technologies profitable in the first quarter 2026?
Operating loss was $2.7M (-18.3% of revenue) and net loss $296K.