Filing Flows › Everspin Technologies (MRAM) › Q3 2025
Everspin Technologies (MRAM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Everspin Technologies (MRAM) reported revenue of $14.1M for the third quarter 2025 (Q3 2025), +16% from a year earlier and +7% from the quarter before. Operating margin was -11.0%, net earnings $54K (0.4% of revenue).
Everspin Technologies, Q3 2025: revenue $14.1M (+16% year over year), operating margin -11.0%, net earnings $54K, operating cash flow $881K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.1M | +7% | +16% |
| Operating profit | −$1.5M | — | — |
| Net earnings | $54K | — | — |
| Operating cash flow | $881K | -82% | -69% |
| Free cash flow | $543K | -82% | -80% |
What changed
Revenue was $14.1M in Q3 2025, up 16% year over year and up 7% from the previous quarter. Product sales was the largest line at 90% of revenue. Product sales added $2.2M year over year (up 22%), 114% of the total change. Licensing declined 99%.
Gross margin was 51.3%, up 2.0 points from a year earlier. Operating costs exceeded revenue by $1.5M, an operating margin of -11.0%. Operating expenses grew 8% against revenue growth of 16%. The fastest-growing cost line was Sales & marketing (+12%). Net earnings were $54K, down 98% year over year. The effective tax rate was -5.9%. Non-operating items added $1.6M, 3129% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $881K (down 69% year over year), 1631% of net earnings. Non-cash charges added back $866K of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $1.4M. Capital expenditures of $338K left free cash flow of $543K.
Questions
What was Everspin Technologies' revenue in the third quarter 2025?
Everspin Technologies (MRAM) reported revenue of $14.1M for the third quarter 2025 (Q3 2025), +16% from a year earlier and +7% from the quarter before.
Was Everspin Technologies profitable in the third quarter 2025?
Operating loss was $1.5M (-11.0% of revenue) and net earnings $54K.