Investment

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. 

Vertical Compute, MRAM for AI technology developer, raised $67 million. This round was led by Quantonation and included many investors, including Flanders Future Techfund (PMV), Wallonie Entreprendre, Sambrinvest, Noshaq, invest.bw, Drysdale Ventures, Kima Ventures, Eurazeo, XAnge, VCT Vector Gestion SA, imec.xpand, imec, VLAIO - Flanders Innovation & Entrepreneurship, and Bpifrance.

Verticle Compute was spun off imec, and develops technology to stack memory directly above compute logic. In 2025, the company said that it develops MRAM in-memory computing chiplet technology. The chiplet, according to the company, can reduce power consumption by 80% and speed up the execution of large language models for AI by 100X. It is believed that the company's MRAM is based on SOT-MRAM technology.

Everspin Technologies announced its financial results for Q4 2025, with a 12% increase in revenues to $14.8 million, and a net income of $2.6 million. Everspin says that its strong Q4 performance reflects the growing demand for its MRAM solutions across various sectors, especially in data centers, energy managements, aerospace and industrial automation.

Everspin ended the quarter with cash and cash equivalents of $44.5 million, down $0.8 million from $45.3 million at the end of Q3 2025.

On January 28, Avalanche Technology filed a lawsuit in the United States District Court for the District of Delaware, against Everspin Technologies saying that Everspin's STT-MRAM technology infringes upon Avalanche's patents.

Avalanche says that there are 4 patents that Everspin infringes upon : U.S. Patents 9,318,179, 9,419,210, 11,678,586, and 10,490,737.  The Lawsuit requests customary remedies for patent infringement and the ITC Complaint requests that the U.S. ITC  Investigation commence an investigation.

Back in 2011, Russia's state-owned VC RusNano invested $125 million into MRAM developer Crocus, aiming to bring MRAM manufacturing into Russia. The project did not succeed, and the proposed fab never saw the light of day and Crocus did not stay in business.

According to a report in Russia, RusNano is now suing its former chief Anatoly Chubais, and other ex-managers, seeking $150 million in damages. It claims these losses were caused by "unreasonable and irresponsible decisions" made by the fund's managers.

Everspin Technologies announced its financial results for Q3 2025, with revenues of $14.1 million (up 16% from $12.1 million in Q3 2024), non-GAAP net income of $1.5 million, and a net income of $54,000 (down from $2.3 million last year). At the end of the quarter, Everspin had $45.3 million in cash and equivalents - up $0.3 million in the quarter. 

Everspin says that the strong sales were driven by high demand from its Low Earth Orbital Satellite, Casino Gaming and Energy Management segments. Its data center business remains strong with continued demand for toggle MRAM products for redundant array of independent disks or RAID from a broad selection of data center customers, including Dell, Supermicro, and others.

Everspin Technologies announced its financial results for Q2 2025. Total revenues were $13.2 million, up from $10.6 million in Q2 2024, while the company's net loss was $0.7 million, down from a $2.5 million loss a year ago.

EVerspin says that its results came at the high end of expectations, driven by strong demand across its entire MRAM product portfolio. The company generated $2.9 million in cash during the quarter, and now was $45 million in cash and equivalents.

Everspin Technologies reported its financial results for Q1 2025, with revenues of $13.1 million, above the company's previous guidance range, and  net loss of  of $1.2 million. At the end of the quarter, Everspin had $42.2 million in cash and equivalents, up slightly from the previous quarter.

The company did not change its guidance in 2025, saying that it expects a ramp up in revenue in the second half of the year.