Everspin

Everspin Technologies reported its preliminary unaudited financial results for Q2 2026, with record revenues of $18.7 million (up 42% from $13.2 million last year), $15.3 million in MRAM product sales (up from $11.1 million last year). GAAP net loss was $3.6 million, while non-GAAP net income was $2.9 million. 

At the end of the quarter, Everspin had $43.9 million in cash and equivalents, and the company expects next quarter revenues in a range of $19.5 million to $20.5 million.

Everspin Technologies announced that it has signed a memorandum of understanding (MOU) with MaxLinear, Inc., a provider of high-performance connectivity and storage acceleration solutions, to evaluate next-generation memory architectures designed to improve efficiency and performance in AI servers.

Everspin says that as AI models and inference workloads continue to grow, increased demands are driving interest in new approaches that combine persistent memory, acceleration and compression to improve performance, power efficiency and infrastructure utilization.

Everspin Technologies announced that its 64Mb PERSYST STT-MRAM was chosen by Astro Digital, for an upcoming Raven bus geosynchronous Earth orbit (GEO) satellite mission.

Astro Digital will use Everspin’s EM064LXAQDG13IS1T 64Mb STT-MRAM as the primary fail-safe memory for the system boot process on its Raven bus. The company explains that in satellite systems, boot memory stores the essential code needed to initialize spacecraft electronics and support system recovery. For this application, persistent MRAM provides non-volatile memory that can retain critical boot information without power and provide fast access during startup or recovery.

The semiconductor memory market is once facing drastic shortages, mainly due to a surge in AI demand, that is pulling capacity toward HBM, DRAM and NAND solutions. Device makers see lead times increase and prices increased sharply. To understand what is really happening in the market and where MRAM fits into the picture, we spoke with Sean Dougherty of Everspin Technologies.

Sean Dougherty is vice president of sales at Everspin Technologies, where he leads global revenue-generating activities across product sales, foundry services and strategic partnerships. He oversees Everspin’s worldwide sales and application engineering teams, helping customers design next-generation MRAM devices into demanding commercial, industrial, aerospace and other high-reliability applications.

Q: We’re seeing a lot of focus on memory shortages again, especially tied to AI demand. From your perspective, what’s actually happening in the market right now?

What we’re seeing today is different from the last supply crisis. During that period, many were suddenly line-down on many semiconductor products at the same time.

GlobalFoundries reported its Q1 2026 financial results, with $1.63 billion in revenues, and a net profit of $227 million. The company reported its design wins increased 50% over Q1 2025 - including automotive MRAM (and microLED) wins.

GF says that it is seeing strong momentum for auto-grade embedded MRAM capability on FDX, describing "industry-leading 100 MHz class access times" and endurance and reliability. The company reported that lead customers have taped out with the MRAM feature and cited growing engagement with tier-one suppliers including Bosch as it moves toward production.

Everspin Technologies has entered into a $40 million 30-months defense subcontract agreement with Amentum Services Inc. to support the U.S. government’s Microelectronics Research, Development, Test, and Evaluation (RDT&E) program. 

Everspin updates that the contract aims to establish proven processes and manufacturing capabilities for new Toggle MRAM. Under the agreement, Everspin will manage the program and develop on-shore Toggle MRAM production capability.

Everspin Technologies reported its financial results for Q1 2026, with revenues of $14.9 million (up from $13.1 in Q1 2025), and a non-GAAP net income of $2.6 million. 

Everspin says that its excellent first quarter results (at the high-end of their guidance) were driven by strength in Industrial Automation, Transportation, and Data Center applications. The company says it is starting to see a recovery in customer demand especially in Japan as inventory levels have been worked down. 

Everspin Technologies announced that it has signed a strategic manufacturing agreement with Microchip Technology to expand its MRAM production capacity and strengthen long-term supply.

Everspin entered into a 10-year agreement (that can be extended in 2-year increments) to onshore US manufacturing capacity for MRAM and Tunnel Magnetoresistive (TMR) sensor products.

GlobalFoundries announced the availability of Auto Grade 1 ready embedded MRAM (eMRAM) technology on the company’s ultra-low power FDX platform. GF says that this is a key enhancement to its portfolio of non-volatile memory technologies and AutoPro platform of automotive-ready solutions.

The new FDX+AutoPro150 eMRAM technology delivers essential advantages over competitive industry grade memories, including proven endurance up to 500k cycles, sub-10 nanosecond read speed, and superior scalability for larger memory density. The technology is designed to address known magnetic field effects and qualified for reliable operation in harsh environments up to 150°C, enabling high-performance, system-on-chip (SoC) solutions that meet the demands of critical automotive applications.

Everspin Technologies launched a new family of unified code and data memory devices, branded as UNISYST MRAM. The new technology and platform targets high-density, non-volatile architecture for edge AI, industrial and mission-critical designs

Everspin's president and CEO, Sanjeev Aggarwal, says that sSystem designers are running into the physical and performance limits of NOR flash, especially as process nodes move below 40 nanometers and workloads become more demanding. With UNISYST, Everspin is extending its MRAM roadmap to higher densities while giving customers a practical way to start with PERSYST today and migrate to a code-and-data MRAM architecture as soon as it is available.