vs
Side-by-side financial comparison of Arcellx, Inc. (ACLX) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
EVERSPIN TECHNOLOGIES INC. is the larger business by last-quarter revenue ($14.9M vs $8.1M, roughly 1.8× Arcellx, Inc.). EVERSPIN TECHNOLOGIES INC. runs the higher net margin — -2.0% vs -766.0%, a 764.0% gap on every dollar of revenue. On growth, EVERSPIN TECHNOLOGIES INC. posted the faster year-over-year revenue change (13.2% vs -79.3%). Over the past eight quarters, EVERSPIN TECHNOLOGIES INC.'s revenue compounded faster (18.2% CAGR vs -24.6%).
Arcellx, Inc. is a clinical-stage biotechnology company that develops innovative chimeric antigen receptor T (CAR-T) cell therapies for treating hard-to-treat cancers including hematologic malignancies and solid tumors. Its core pipeline targets unmet oncology medical needs, serving global patient populations and partnering with life sciences stakeholders.
Everspin Technologies, Inc. is a publicly traded semiconductor company headquartered in Chandler, Arizona, United States. It develops and manufactures discrete magnetoresistive RAM or magnetoresistive random-access memory (MRAM) products, including Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM) product families. It also licenses its technology for use in embedded MRAM (eMRAM) applications, magnetic sensor applications as well as performs backend foundry services for eMRAM.
ACLX vs MRAM — Head-to-Head
Income Statement — Q1 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.1M | $14.9M |
| Net Profit | $-62.3M | $-296.0K |
| Gross Margin | — | 52.7% |
| Operating Margin | -847.6% | 29.0% |
| Net Margin | -766.0% | -2.0% |
| Revenue YoY | -79.3% | 13.2% |
| Net Profit YoY | -765.1% | — |
| EPS (diluted) | $-1.13 | $-0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $14.9M | ||
| Q4 25 | — | $14.8M | ||
| Q3 25 | — | $14.1M | ||
| Q2 25 | — | $13.2M | ||
| Q1 25 | $8.1M | $13.1M | ||
| Q4 24 | $15.3M | $13.2M | ||
| Q3 24 | $26.0M | $12.1M | ||
| Q2 24 | $27.4M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | — | $1.2M | ||
| Q3 25 | — | $54.0K | ||
| Q2 25 | — | $-670.0K | ||
| Q1 25 | $-62.3M | $-1.2M | ||
| Q4 24 | $-47.1M | $1.2M | ||
| Q3 24 | $-25.9M | $2.3M | ||
| Q2 24 | $-27.2M | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | — | 50.8% | ||
| Q3 25 | — | 51.3% | ||
| Q2 25 | — | 51.3% | ||
| Q1 25 | — | 51.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | — | 49.2% | ||
| Q2 24 | — | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | — | -7.2% | ||
| Q3 25 | — | -11.0% | ||
| Q2 25 | — | -14.9% | ||
| Q1 25 | -847.6% | -14.7% | ||
| Q4 24 | -348.2% | -11.8% | ||
| Q3 24 | -129.1% | -17.5% | ||
| Q2 24 | -127.8% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | -5.1% | ||
| Q1 25 | -766.0% | -8.9% | ||
| Q4 24 | -308.4% | 9.2% | ||
| Q3 24 | -99.4% | 18.8% | ||
| Q2 24 | -99.3% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | — | $0.05 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.03 | ||
| Q1 25 | $-1.13 | $-0.05 | ||
| Q4 24 | $-0.87 | $0.07 | ||
| Q3 24 | $-0.48 | $0.10 | ||
| Q2 24 | $-0.51 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $543.3M | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $416.9M | $70.2M |
| Total Assets | $648.1M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | — | $44.5M | ||
| Q3 25 | — | $45.3M | ||
| Q2 25 | — | $45.0M | ||
| Q1 25 | $543.3M | $42.2M | ||
| Q4 24 | $587.4M | $42.1M | ||
| Q3 24 | $574.3M | $39.6M | ||
| Q2 24 | $516.7M | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | — | $68.9M | ||
| Q3 25 | — | $65.8M | ||
| Q2 25 | — | $64.1M | ||
| Q1 25 | $416.9M | $63.0M | ||
| Q4 24 | $454.8M | $62.6M | ||
| Q3 24 | $483.0M | $59.3M | ||
| Q2 24 | $487.2M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | — | $84.6M | ||
| Q3 25 | — | $80.3M | ||
| Q2 25 | — | $78.9M | ||
| Q1 25 | $648.1M | $80.2M | ||
| Q4 24 | $711.3M | $77.8M | ||
| Q3 24 | $764.9M | $72.6M | ||
| Q2 24 | $734.3M | $64.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-63.1M | $570.0K |
| Free Cash FlowOCF − Capex | $-63.9M | — |
| FCF MarginFCF / Revenue | -786.4% | — |
| Capex IntensityCapex / Revenue | 9.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-122.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | — | $2.6M | ||
| Q3 25 | — | $881.0K | ||
| Q2 25 | — | $5.0M | ||
| Q1 25 | $-63.1M | $1.4M | ||
| Q4 24 | $-46.0M | $3.8M | ||
| Q3 24 | $30.7M | $2.8M | ||
| Q2 24 | $-36.2M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-975.0K | ||
| Q3 25 | — | $543.0K | ||
| Q2 25 | — | $3.0M | ||
| Q1 25 | $-63.9M | $527.0K | ||
| Q4 24 | $-47.5M | $2.1M | ||
| Q3 24 | $28.4M | $2.8M | ||
| Q2 24 | $-39.5M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 22.9% | ||
| Q1 25 | -786.4% | 4.0% | ||
| Q4 24 | -311.3% | 15.8% | ||
| Q3 24 | 109.2% | 22.9% | ||
| Q2 24 | -144.1% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 15.1% | ||
| Q1 25 | 9.6% | 6.9% | ||
| Q4 24 | 9.8% | 13.2% | ||
| Q3 24 | 8.8% | 0.5% | ||
| Q2 24 | 11.7% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.19× | ||
| Q3 25 | — | 16.31× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.16× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACLX
Segment breakdown not available.
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
