NVE Corporation Reports First Quarter Results and Announces Quarterly Dividend

Key Terms

spintronics technical

Spintronics is a branch of electronics that uses the magnetic property of electrons, called spin, in addition to their electrical charge to store and process information. For investors, it matters because devices that exploit spin can be faster, use less power, and hold data without continuous electricity—like switching from a lightbulb that needs power to stay on to one that remembers its state—creating opportunities in memory, sensors and low-power computing markets.

nanotechnology technical

Nanotechnology is the design and control of materials and devices at the scale of atoms and molecules — about one-billionth of a meter — allowing scientists to create properties and functions not possible at larger sizes. For investors, it matters because these tiny changes can lead to big improvements in drugs, electronics, materials and manufacturing efficiency, opening new markets and competitive advantages while also bringing technical, cost and regulatory risks.

marketable securities financial

Marketable securities are financial assets — such as publicly traded stocks, bonds, and short-term government bills — that a company can quickly sell for cash at a known price. Investors watch them because they show how much ready cash a company can access without selling core operations, like keeping money in a highly liquid savings account versus being tied up in a house, and they affect short-term risk, financial flexibility, and balance-sheet strength.

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Revenue increases 81% and net income increases 79%

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)-- NVE Corporation (Nasdaq: NVEC) announced today financial results for the quarter ended June 30, 2026.

Total revenue for the first quarter of fiscal 2027 increased 81% to $11.0 million from $6.10 million for the prior-year quarter. The increase was due to an 82% increase in product sales and a 53% increase in contract research and development revenue. Net income for the first quarter of fiscal 2027 increased 79% to $6.39 million, or $1.32 per diluted share, compared to $3.58 million, or $0.74 per share, for the prior-year quarter.

The company also announced a quarterly cash dividend to shareholders of $1.00 per share of common stock, payable August 31, 2026 to shareholders of record as of August 3, 2026.

“We’re pleased to report exceptional growth in revenue and earnings driven by new product sales and a strong semiconductor market,” said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D.

NVE is a leader in the practical commercialization of spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information. The company manufactures high-performance spintronic products including sensors and couplers that are used to acquire and transmit data.

Statements used in this press release that relate to future plans, events, financial results, or performance are forward-looking statements that are subject to certain risks and uncertainties including, among others, such factors as our reliance on several large customers for a significant percentage of revenue, uncertainties related to the economic environments in the industries we serve, uncertainties related to future sales and revenues, risks and uncertainties related to tariffs, customs, duties, and other trade barriers, as well as the risk factors listed from time to time in our filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2026.

NVE CORPORATION STATEMENTS OF INCOME QUARTERS ENDED JUNE 30, 2026 AND 2025 (Unaudited)
	Quarter Ended June 30,
	2026				2025
Revenue
Product sales	$	10,734,735			$	5,908,570
Contract research and development		299,322				196,074
Total revenue, net		11,034,057				6,104,644
Cost of sales		2,066,045				1,182,523
Gross profit		8,968,012				4,922,121
Expenses
Research and development		946,582				720,231
Selling, general, and administrative		755,594				418,640
Total expenses		1,702,176				1,138,871
Income from operations		7,265,836				3,783,250
Interest income		449,920				498,208
Other income		-				811
Income before taxes		7,715,756				4,282,269
Provision for income taxes		1,321,565				706,451
Net income	$	6,394,191			$	3,575,818
Net income per share – basic	$	1.32			$	0.74
Net income per share – diluted	$	1.32			$	0.74
Weighted average shares outstanding
Basic		4,837,166				4,837,166
Diluted		4,845,744				4,838,877

NVE CORPORATION BALANCE SHEETS JUNE 30 AND MARCH 31, 2026
		(Unaudited) June 30, 2026				March 31, 2026
ASSETS
Current assets
Cash and cash equivalents		$	2,896,148			$	1,714,040
Marketable securities, short-term			18,875,009				18,125,060
Accounts receivable, net of allowance for credit losses of $15,000			6,545,713				3,408,941
Inventories, net			6,673,227				7,082,821
Prepaid expenses and other assets			685,921				1,860,415
Total current assets			35,676,018				32,191,277
Fixed assets
Machinery and equipment			13,900,632				13,843,799
Leasehold improvements			2,059,853				2,059,853
			15,960,485				15,903,652
Less accumulated depreciation and amortization			12,419,993				12,187,643
Net fixed assets			3,540,492				3,716,009
Marketable securities, long-term			22,137,350				23,678,452
Right-of-use asset – operating lease			763,080				793,794
Total assets		$	62,116,940			$	60,379,532
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable		$	265,953			$	278,599
Accrued payroll and other			1,037,155				697,611
Operating lease			201,008				165,116
Total current liabilities			1,504,116				1,141,326
Deferred tax liabilities			128,217				248,284
Long-term operating lease liability			704,817				740,423
Total liabilities			2,337,150				2,130,033
Shareholders’ equity
Common stock			48,372				48,372
Additional paid-in capital			19,928,818				19,914,769
Accumulated other comprehensive income (loss)			(72,793	)			(32,010	)
Retained earnings			39,875,393				38,318,368
Total shareholders’ equity			59,779,790				58,249,499
Total liabilities and shareholders’ equity		$	62,116,940			$	60,379,532

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260722458896/en/

investor@nve.com

Source: NVE Corporation