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Sep 30, 2025
Everspin Q3 2025 Earnings Report
Everspin reported its financial results for the third quarter ended September 30, 2025, showing an increase in total revenue and gross profit, but a significant decrease in net income compared to the previous year.
Key Takeaways
Everspin Technologies, Inc. announced unaudited financial results for the third quarter of 2025, with total revenue reaching $14.1 million, an increase from $12.1 million in Q3 2024. Product sales were a key driver, growing to $12.7 million. Despite revenue growth, GAAP net income significantly decreased to $54,000, or $0.00 per diluted share, compared to $2.3 million, or $0.10 per diluted share, in the prior year's quarter. The company maintained a strong balance sheet with cash and cash equivalents increasing to $45.3 million.
Total revenue for Q3 2025 increased by 16% to $14.1 million, up from $12.1 million in Q3 2024.
GAAP net income saw a substantial decline of 98% to $54,000, or $0.00 per diluted share, compared to $2.3 million, or $0.10 per diluted share, in Q3 2024.
MRAM product sales grew to $12.7 million, an increase from $10.4 million in the same period last year, driven by strength in Low Earth Orbital Satellite, Casino Gaming, and Energy Management applications.
Cash and cash equivalents rose by $3.2 million to $45.3 million as of September 30, 2025, indicating a strong liquidity position.
Revenue by Segment
Forward Guidance
For the fourth quarter of 2025, Everspin anticipates total revenue to be between $14.0 million and $15.0 million. GAAP net income per diluted share is expected to range from $0.02 to $0.07, while non-GAAP net income per diluted share is projected to be between $0.08 and $0.13.
Positive Outlook
- Expected total revenue for Q4 2025 is between $14.0 million and $15.0 million, indicating continued growth.
- Anticipated GAAP net income per diluted share for Q4 2025 is positive, ranging from $0.02 to $0.07.
- Non-GAAP net income per diluted share is expected to be higher, between $0.08 and $0.13, for Q4 2025.
- The company's strong balance sheet provides flexibility for future growth investments.
- Management is focused on consistent execution and prudent expense management.
Challenges Ahead
- Reconciliation of non-GAAP guidance to GAAP is not available without unreasonable effort due to uncertainties.
- Stock-based compensation charges are difficult to predict and subject to constant change, impacting GAAP results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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