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Morgan Stanley Smith Barney LLC submitted a Form 144 notice relating to proposed sales of Common stock. The filing lists restricted stock grants dated 01/01/2024 of 4,658, 10,293, and 13,508 shares as context. It also reports that Sanjeev Aggarwal sold 20,398 shares on 04/02/2026 for $179,533.07.
Everspin Technologies reported Q1 2026 revenue of $14.9 million, up 13.2% from Q1 2025, driven mainly by 27.9% growth in product sales. Higher product mix and better yields lifted gross margin to 52.7%.
The company posted a small net loss of $0.3 million (vs. $1.2 million loss a year ago), while adjusted net income reached $2.6 million, helped by $2.1 million of other income from a strategic aerospace and defense manufacturing award. Cash and cash equivalents were $40.5 million with modest positive operating cash flow.
Subsequent to quarter-end, Everspin signed a 10‑year foundry agreement with Microchip, including up to $13.95 million in installation reimbursements and ramping wafer purchase commitments, and a $40.0 million subcontract with Amentum for U.S. government microelectronics R&D. The company is also defending against a patent infringement case filed by Avalanche Technology in federal court and at the U.S. International Trade Commission.
Everspin Technologies entered a material definitive agreement with Amentum Services for an IDIQ Subcontract supporting a U.S. Navy microelectronics RDT&E program focused on Toggle MRAM. The firm fixed price Agreement covers milestone-based work over about 30 months for an aggregate value of $40,000,000.
Everspin’s obligations include managing the program, developing on-shore Toggle MRAM production capability, providing process technology and engineering services, delivering electrical characterization results, and supplying process know-how and IP if it exits the Toggle MRAM business. The contract includes option periods, potential six‑month extensions, and termination-for-convenience protections tied to the prime contract.
Everspin Technologies reported preliminary unaudited first quarter 2026 results with total revenue of $14.9 million, up from $13.1 million a year earlier, driven by MRAM product sales of $14.1 million. GAAP results showed a small net loss of $0.3 million, or $(0.01) per diluted share.
On a non-GAAP basis, net income rose to $2.6 million, or $0.11 per diluted share, compared to $0.4 million, or $0.02 per share, in the prior-year quarter. Cash and cash equivalents were $40.5 million as of March 31, 2026, supporting ongoing investments and a recently signed Foundry Services Agreement with Microchip.
The company highlighted a new $40 million contract with a U.S. prime contractor to provide State of the Art MRAM process technology and engineering services for U.S. defense industrial customers. For the second quarter of 2026, Everspin expects revenue between $15.5 million and $16.5 million and non-GAAP diluted EPS between $0.00 and $0.03.
Everspin Technologies has signed a 10-year foundry services agreement with Microchip Technology to expand on-shore manufacturing of MRAM and TMR sensor wafers at Microchip’s Oregon Fab 4 facility. Everspin will reimburse Microchip about $13.95 million in two phases for tooling relocation, installation, engineering and qualification work.
The deal includes minimum purchase commitments that ramp up to 1,300 wafers per quarter, with cash payments due on any shortfalls. Toggle MRAM and sensor capacity is expected to begin roughly 18 months from the effective date, with STT-MRAM capacity around 30 months, and first products anticipated to ship in the second half of 2027.
Everspin Technologies, Inc. has called a virtual annual meeting for May 21, 2026 to elect seven directors, ratify Ernst & Young LLP as auditor, hold an advisory say‑on‑pay vote, and expand its equity plan.
The company is asking stockholders to approve an amendment to its 2016 Equity Incentive Plan to increase shares authorized for issuance by 1,800,000 shares, on top of the 939,182 shares remaining available as of February 27, 2026. Total overhang from outstanding and available awards is disclosed at 5,215,604 shares, about 23% of shares outstanding. Only holders of the 23,294,478 shares outstanding as of March 24, 2026 may vote, with a virtual-only format requiring a 16-digit control number to participate and vote.
EVERSPIN TECHNOLOGIES INC. President and CEO Sanjeev Aggarwal reported a large equity grant and a small share sale. On March 31, 2026, he acquired 310,825 shares of Common Stock as restricted stock units that vest in sixteen equal quarterly installments over four years, with a vesting commencement date of January 1, 2026. On April 1, 2026, he sold 19,440 shares of Common Stock at $9.20 per share, and the sale was made solely to pay taxes due upon the vesting of RSUs. After these transactions, he directly held 847,881 shares of Common Stock.
EVERSPIN TECHNOLOGIES INC. Chief Financial Officer William Earl Cooper reported routine equity compensation and related tax-selling activity. He received 80,386 restricted stock units on March 31, 2026, vesting in sixteen equal quarterly installments over four years starting January 1, 2026. To cover taxes due upon this RSU vesting, he sold 1,549 shares of common stock at $9.20 per share. After these transactions, he held 172,030 shares of common stock directly.
Dougherty Sean Michael reported acquisition or exercise transactions in this Form 4 filing.
Everspin Technologies Vice President of Sales Sean Michael Dougherty received a grant of 18,006 shares of common stock on March 31, 2026 as a restricted stock unit award. These units vest in sixteen equal quarterly installments over four years, starting April 1, 2026. Following this compensation grant, he directly holds 98,006 shares of common stock.