$MRAM

EVERSPIN TECHNOLOGIES INC.

CIK:0001438423|SEC Filings

Condensed Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenue	$ 18,736	$ 13,201	$ 33,608	$ 26,339
Total cost of sales	8,639	6,433	15,668	12,818
Gross profit	10,097	6,768	17,940	13,521
Operating expenses:
Research and development	4,838	3,580	8,443	6,936
General and administrative	7,827	3,642	12,888	7,480
Sales and marketing	1,815	1,507	3,708	2,998
Total operating expenses	14,480	8,729	25,039	17,414
Loss from operations	(4,383)	(1,961)	(7,099)	(3,893)
Interest income	316	423	633	831
Other income, net	478	842	2,584	1,230
Net loss before income taxes	(3,589)	(696)	(3,882)	(1,832)
Income tax benefit (expense)	0	26	(3)	(4)
Net loss and comprehensive loss	$ (3,589)	$ (670)	$ (3,885)	$ (1,836)
Net loss per common share:
Basic (in dollars per share)	$ (0.15)	$ (0.03)	$ (0.17)	$ (0.08)
Diluted (in dollars per share)	$ (0.15)	$ (0.03)	$ (0.17)	$ (0.08)
Weighted average shares of common stock outstanding:
Basic (in shares)	23,882,618	22,504,957	23,512,274	22,347,411
Diluted (in shares)	23,882,618	22,504,957	23,512,274	22,347,411
Product sales
Total revenue	$ 15,313	$ 11,091	$ 29,413	$ 22,117
Total cost of sales	8,296	6,166	15,251	12,195
Licensing, royalty, engineering services and other revenue
Total revenue	3,423	2,110	4,195	4,222
Total cost of sales	$ 343	$ 267	$ 417	$ 623

Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
Condensed Statements of Cash Flows - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (3,885)	$ (1,836)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,407	1,695
Gain on sale of property and equipment	0	(25)
Stock-based compensation	2,674	2,996
Changes in operating assets and liabilities:
Accounts receivable	(2,670)	4,352
Inventory	(2,351)	(2,196)
Prepaid expenses and other current assets	620	157
Other assets	(417)	(50)
Accounts payable	495	809
Accrued liabilities	3,072	(196)
Deferred revenue	2,958	(78)
Contract obligations	(1,201)	699
Lease liabilities, net	24	30
Long-term income tax liability	3	98
Net cash provided by operating activities	729	6,455
Cash flows from investing activities
Purchases of property and equipment	(5,677)	(2,901)
Purchases of intangible assets	(976)	(977)
Net cash used in investing activities	(6,653)	(3,878)
Cash flows from financing activities
Payments on finance leases	(33)	(34)
Proceeds from exercise of stock options and purchase of shares in employee stock purchase plan	5,403	322
Net cash provided by financing activities	5,370	288
Net (decrease) increase in cash and cash equivalents	(554)	2,865
Cash and cash equivalents at beginning of period	44,450	42,097
Cash and cash equivalents at end of period	43,896	44,962
Supplementary cash flow information:
Cash paid for taxes	31	36
Operating cash flows paid for operating leases	715	707
Financing cash flows paid for finance leases	33	34
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease liabilities	175	0
Purchases of property and equipment in accounts payable and accrued liabilities	$ 399	$ 26

Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 43,896	$ 44,450
Accounts receivable, net	10,770	8,101
Inventory	13,085	10,734
Prepaid expenses and other current assets	1,257	1,877
Total current assets	69,008	65,162
Property and equipment, net	14,843	14,140
Intangible assets, net	897	1,714
Right-of-use assets	2,756	3,251
Other assets	1,889	342
Total assets	89,393	84,609
Current liabilities:
Accounts payable	2,394	5,180
Accrued liabilities	6,654	3,651
Deferred revenue	2,958	0
Lease liabilities, current portion	1,405	1,381
Contract obligations	271	1,472
Software liabilities, current portion	889	1,769
Total current liabilities	14,571	13,453
Lease liabilities, net of current portion	1,428	1,956
Software liabilities, net of current portion	16	15
Long-term income tax liability	271	268
Total liabilities	16,286	15,692
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock, $0.0001 par value per share; 5,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Common stock, $0.0001 par value per share; 100,000,000 shares authorized; 24,271,438 and 22,977,797 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	2	2
Additional paid-in capital	214,447	206,370
Accumulated deficit	(141,342)	(137,455)
Total stockholders’ equity	73,107	68,917
Total liabilities and stockholders’ equity	$ 89,393	$ 84,609