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.
The company shared a guidance for the second quarter of 2026 - the company expects total revenue in a range of $15.5 million to $16.5 million.
At the end of the quarter, the company has $40.5 million in cash and equivalents, down $4 million from the $44.5 million at the end of the prior quarter. The company says that cash flow generated from operations decreased to $0.5 million for the first quarter from $2.6 million in the fourth quarter due to litigation costs.
Disclosure: the author of this post holds shares at Everspin
