Everspin Secures $40 Million Defense Contract
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy MRAM?
Source: stocktwits
- Significant Contract Value: Everspin Technologies has secured a contract worth over $40 million with U.S. Defense Industrial Base customers for a duration of two and a half years, indicating strong demand and market confidence in the defense sector.
- Technological Edge: The Toggle MRAM technology utilizes magnetic states for data storage, providing non-volatile memory that operates even without power, thereby enhancing data protection and reliability to meet modern military requirements.
- Positive Market Reaction: Everspin's shares rallied more than 11% in Monday's premarket trading, reflecting investor optimism regarding the company's long-term potential, particularly amidst active discussions among retail investors.
- Surging Market Sentiment: On Stocktwits, message volumes for MRAM stock surged by 46.7% over the past 24 hours, indicating extreme bullish sentiment among retail investors, which further amplified market interest.
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Analyst Views on MRAM
Wall Street analysts forecast MRAM stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 21.510
Low
8.00
Averages
High
8.00
Current: 21.510
Low
8.00
Averages
High
8.00
About MRAM
Everspin Technologies, Inc. is a developer and manufacturer of magnetoresistive random access memory (MRAM) solutions. Its portfolio of MRAM technologies includes Toggle MRAM, Tunnel Magneto Resistance (TMR) Sensors, and Spin-transfer Torque MRAM (STT-MRAM). Toggle MRAM products are designed to address applications in the industrial, medical, automotive/transportation, and data center markets. It offers these products with industry standard interfaces, including Parallel, Serial Peripheral Interface (SPI) and Quad SPI (QSPI) interfaces. STT-MRAM technology can be tuned to deliver products in Dynamic Random Access Memory (DRAM), Static Random Access Memory (SRAM) and NOR Flash applications. TMR sensors provide high magnetic sensitivity in a single component that performs 3D magnetic field measurements in a monolithic solution. It sells its products directly and through its distribution channels, to original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Everspin Secures $40 Million Defense Contract
- Significant Contract Value: Everspin Technologies has secured a contract worth over $40 million with U.S. Defense Industrial Base customers for a duration of two and a half years, indicating strong demand and market confidence in the defense sector.
- Technological Edge: The Toggle MRAM technology utilizes magnetic states for data storage, providing non-volatile memory that operates even without power, thereby enhancing data protection and reliability to meet modern military requirements.
- Positive Market Reaction: Everspin's shares rallied more than 11% in Monday's premarket trading, reflecting investor optimism regarding the company's long-term potential, particularly amidst active discussions among retail investors.
- Surging Market Sentiment: On Stocktwits, message volumes for MRAM stock surged by 46.7% over the past 24 hours, indicating extreme bullish sentiment among retail investors, which further amplified market interest.
See More
Everspin Reports Q1 Revenue Above Estimates Amid Loss
- Earnings Highlights: Everspin's Q1 revenue reached $14.87 million, slightly exceeding the $14.60 million estimate, although the reported loss of $0.01 per share fell short of the expected profit of $0.09, indicating challenges in profitability.
- Strong Balance Sheet: Executives emphasized that Everspin's balance sheet is “strong,” enabling the company to provide engineering and foundry services for U.S. Defense Industrial Base clients, particularly under the recently announced Foundry Services Agreement with Microchip.
- Strategic New Contract: The firm secured a $40 million agreement with a U.S. prime contractor to provide Toggle MRAM process technology and engineering services, enhancing its position in the defense market and driving future growth.
- Retail Trader Sentiment Shift: On Stocktwits, retail sentiment for MRAM shifted from “bullish” to “extremely bullish,” with users expressing expectations for the stock to surpass $20 and reach a $1 billion market cap, reflecting optimism about the company's future performance.
See More
Everspin Technologies Reports Q1 2026 Earnings with New $40M Defense Contract
- New Contract Signed: Everspin has entered into a 2.5-year $40 million agreement with a U.S. prime contractor, which is expected to significantly enhance the company's market position in the defense sector and lay the groundwork for future revenue growth.
- Q1 Performance: The company reported a Q1 non-GAAP net income of $2.6 million, or $0.11 per diluted share, demonstrating strong demand in industrial automation and data center applications, despite pressures from litigation costs.
- Future Outlook: Everspin anticipates Q2 total revenue to range between $15.5 million and $16.5 million, with non-GAAP results expected to be between breakeven and $0.03 per share, reflecting a cautious stance regarding the new contract.
- Gross Margin Improvement: The GAAP gross margin increased from 51.4% to 52.7% in Q1, primarily due to higher capacity utilization and ongoing cost control measures, indicating the company's effectiveness in manufacturing execution.
See More
Everspin Technologies Set to Announce Q1 Earnings
- Earnings Announcement Date: Everspin Technologies is scheduled to release its Q1 2023 earnings on April 29 after market close, with consensus EPS estimates at $0.09, reflecting a significant 350% year-over-year increase, and revenue estimates at $14.6 million, up 11.5% year-over-year.
- Performance Expectations: Over the past two years, Everspin has exceeded EPS estimates 25% of the time while achieving a 100% success rate in beating revenue estimates, indicating strong revenue stability and market confidence in the company.
- Estimate Revisions: In the last three months, EPS estimates have seen one upward revision and no downward adjustments, while revenue estimates experienced one upward and one downward revision, suggesting a cautious market outlook on the company's future performance.
- Market Analysis Insights: Recent analyses suggest that Everspin Technologies appears overpriced, advising investors to wait for further price retracement before pursuing this stock to mitigate investment risks and enhance potential returns.
See More
Everspin (MRAM) Q3 2024 Earnings Transcript
See More
Everspin Technologies Partners with Microchip to Expand MRAM Production
- Strategic Manufacturing Agreement: Everspin Technologies has signed a 10-year strategic manufacturing agreement with Microchip Technology aimed at enhancing production capacity for MRAM and Tunnel Magnetoresistive (TMR) sensor products, thereby ensuring long-term supply chain stability.
- Capacity Expansion: The agreement will establish a copy exact (plus) MRAM line to augment Everspin's existing production capabilities in Chandler, Arizona, which is expected to significantly increase output to meet market demand.
- Flexible Terms: The agreement allows for extensions in 2-year increments after the initial 10-year term, providing Everspin with the flexibility to adjust production plans dynamically based on market changes and demand, thereby enhancing its market adaptability.
- Positive Market Outlook: With the growing demand for MRAM and TMR sensor products, this collaboration not only strengthens Everspin's competitive position in the market but also has the potential to drive future revenue growth and profitability.
See More
Everspin Secures $40 Million Defense Contract
- Significant Contract Value: Everspin Technologies has secured a contract worth over $40 million with U.S. Defense Industrial Base customers for a duration of two and a half years, indicating strong demand and market confidence in the defense sector.
- Technological Edge: The Toggle MRAM technology utilizes magnetic states for data storage, providing non-volatile memory that operates even without power, thereby enhancing data protection and reliability to meet modern military requirements.
- Positive Market Reaction: Everspin's shares rallied more than 11% in Monday's premarket trading, reflecting investor optimism regarding the company's long-term potential, particularly amidst active discussions among retail investors.
- Surging Market Sentiment: On Stocktwits, message volumes for MRAM stock surged by 46.7% over the past 24 hours, indicating extreme bullish sentiment among retail investors, which further amplified market interest.
See More
Everspin Reports Q1 Revenue Above Estimates Amid Loss
- Earnings Highlights: Everspin's Q1 revenue reached $14.87 million, slightly exceeding the $14.60 million estimate, although the reported loss of $0.01 per share fell short of the expected profit of $0.09, indicating challenges in profitability.
- Strong Balance Sheet: Executives emphasized that Everspin's balance sheet is “strong,” enabling the company to provide engineering and foundry services for U.S. Defense Industrial Base clients, particularly under the recently announced Foundry Services Agreement with Microchip.
- Strategic New Contract: The firm secured a $40 million agreement with a U.S. prime contractor to provide Toggle MRAM process technology and engineering services, enhancing its position in the defense market and driving future growth.
- Retail Trader Sentiment Shift: On Stocktwits, retail sentiment for MRAM shifted from “bullish” to “extremely bullish,” with users expressing expectations for the stock to surpass $20 and reach a $1 billion market cap, reflecting optimism about the company's future performance.
See More
Everspin Technologies Reports Q1 2026 Earnings with New $40M Defense Contract
- New Contract Signed: Everspin has entered into a 2.5-year $40 million agreement with a U.S. prime contractor, which is expected to significantly enhance the company's market position in the defense sector and lay the groundwork for future revenue growth.
- Q1 Performance: The company reported a Q1 non-GAAP net income of $2.6 million, or $0.11 per diluted share, demonstrating strong demand in industrial automation and data center applications, despite pressures from litigation costs.
- Future Outlook: Everspin anticipates Q2 total revenue to range between $15.5 million and $16.5 million, with non-GAAP results expected to be between breakeven and $0.03 per share, reflecting a cautious stance regarding the new contract.
- Gross Margin Improvement: The GAAP gross margin increased from 51.4% to 52.7% in Q1, primarily due to higher capacity utilization and ongoing cost control measures, indicating the company's effectiveness in manufacturing execution.
See More
Everspin Technologies Set to Announce Q1 Earnings
- Earnings Announcement Date: Everspin Technologies is scheduled to release its Q1 2023 earnings on April 29 after market close, with consensus EPS estimates at $0.09, reflecting a significant 350% year-over-year increase, and revenue estimates at $14.6 million, up 11.5% year-over-year.
- Performance Expectations: Over the past two years, Everspin has exceeded EPS estimates 25% of the time while achieving a 100% success rate in beating revenue estimates, indicating strong revenue stability and market confidence in the company.
- Estimate Revisions: In the last three months, EPS estimates have seen one upward revision and no downward adjustments, while revenue estimates experienced one upward and one downward revision, suggesting a cautious market outlook on the company's future performance.
- Market Analysis Insights: Recent analyses suggest that Everspin Technologies appears overpriced, advising investors to wait for further price retracement before pursuing this stock to mitigate investment risks and enhance potential returns.
See More
Everspin (MRAM) Q3 2024 Earnings Transcript
See More
Everspin Technologies Partners with Microchip to Expand MRAM Production
- Strategic Manufacturing Agreement: Everspin Technologies has signed a 10-year strategic manufacturing agreement with Microchip Technology aimed at enhancing production capacity for MRAM and Tunnel Magnetoresistive (TMR) sensor products, thereby ensuring long-term supply chain stability.
- Capacity Expansion: The agreement will establish a copy exact (plus) MRAM line to augment Everspin's existing production capabilities in Chandler, Arizona, which is expected to significantly increase output to meet market demand.
- Flexible Terms: The agreement allows for extensions in 2-year increments after the initial 10-year term, providing Everspin with the flexibility to adjust production plans dynamically based on market changes and demand, thereby enhancing its market adaptability.
- Positive Market Outlook: With the growing demand for MRAM and TMR sensor products, this collaboration not only strengthens Everspin's competitive position in the market but also has the potential to drive future revenue growth and profitability.
See More
