vs
Side-by-side financial comparison of ADC Therapeutics SA (ADCT) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
ADC Therapeutics SA is the larger business by last-quarter revenue ($23.1M vs $14.9M, roughly 1.6× EVERSPIN TECHNOLOGIES INC.). On growth, ADC Therapeutics SA posted the faster year-over-year revenue change (36.4% vs 13.2%). Over the past eight quarters, EVERSPIN TECHNOLOGIES INC.'s revenue compounded faster (18.2% CAGR vs 13.7%).
ADC Telecommunications, Inc. was a communications company in Eden Prairie, Minnesota, a southwest suburb of Minneapolis. It was acquired by TE Connectivity in December 2010 and ceased to exist as a separate entity. ADC products were sold by CommScope after it acquired the Broadband Network Solutions business unit from TE Connectivity in August 2015.
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.
ADCT vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $23.1M | $14.9M |
| Net Profit | — | $-296.0K |
| Gross Margin | — | 52.7% |
| Operating Margin | -77.7% | 29.0% |
| Net Margin | — | -2.0% |
| Revenue YoY | 36.4% | 13.2% |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.04 | $-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 | $23.1M | $14.8M | ||
| Q3 25 | $15.8M | $14.1M | ||
| Q2 25 | $18.1M | $13.2M | ||
| Q1 25 | $17.4M | $13.1M | ||
| Q4 24 | $16.9M | $13.2M | ||
| Q3 24 | $18.0M | $12.1M | ||
| Q2 24 | $17.0M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | — | $1.2M | ||
| Q3 25 | $-41.0M | $54.0K | ||
| Q2 25 | $-56.6M | $-670.0K | ||
| Q1 25 | $-38.6M | $-1.2M | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | $-44.0M | $2.3M | ||
| Q2 24 | $-36.5M | $-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 | -77.7% | -7.2% | ||
| Q3 25 | -196.6% | -11.0% | ||
| Q2 25 | -244.1% | -14.9% | ||
| Q1 25 | -163.5% | -14.7% | ||
| Q4 24 | -191.8% | -11.8% | ||
| Q3 24 | -197.4% | -17.5% | ||
| Q2 24 | -170.5% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | — | 8.1% | ||
| Q3 25 | -260.1% | 0.4% | ||
| Q2 25 | -313.2% | -5.1% | ||
| Q1 25 | -221.8% | -8.9% | ||
| Q4 24 | — | 9.2% | ||
| Q3 24 | -244.1% | 18.8% | ||
| Q2 24 | -214.6% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.04 | $0.05 | ||
| Q3 25 | $-0.30 | $0.00 | ||
| Q2 25 | $-0.50 | $-0.03 | ||
| Q1 25 | $-0.36 | $-0.05 | ||
| Q4 24 | $-0.26 | $0.07 | ||
| Q3 24 | $-0.42 | $0.10 | ||
| Q2 24 | $-0.38 | $-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 | $261.3M | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-185.8M | $70.2M |
| Total Assets | $323.1M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $261.3M | $44.5M | ||
| Q3 25 | $234.7M | $45.3M | ||
| Q2 25 | $264.6M | $45.0M | ||
| Q1 25 | $194.7M | $42.2M | ||
| Q4 24 | $250.9M | $42.1M | ||
| Q3 24 | $274.3M | $39.6M | ||
| Q2 24 | $300.1M | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $-185.8M | $68.9M | ||
| Q3 25 | $-238.2M | $65.8M | ||
| Q2 25 | $-199.2M | $64.1M | ||
| Q1 25 | $-238.2M | $63.0M | ||
| Q4 24 | $-202.6M | $62.6M | ||
| Q3 24 | $-171.9M | $59.3M | ||
| Q2 24 | $-131.7M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $323.1M | $84.6M | ||
| Q3 25 | $289.8M | $80.3M | ||
| Q2 25 | $321.6M | $78.9M | ||
| Q1 25 | $272.5M | $80.2M | ||
| Q4 24 | $322.0M | $77.8M | ||
| Q3 24 | $349.1M | $72.6M | ||
| Q2 24 | $371.8M | $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 | $-31.1M | $570.0K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $-31.1M | $2.6M | ||
| Q3 25 | $-29.6M | $881.0K | ||
| Q2 25 | $-24.1M | $5.0M | ||
| Q1 25 | $-56.3M | $1.4M | ||
| Q4 24 | $-21.9M | $3.8M | ||
| Q3 24 | $-25.0M | $2.8M | ||
| Q2 24 | $-32.8M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-975.0K | ||
| Q3 25 | — | $543.0K | ||
| Q2 25 | — | $3.0M | ||
| Q1 25 | $-56.6M | $527.0K | ||
| Q4 24 | $-21.9M | $2.1M | ||
| Q3 24 | $-25.3M | $2.8M | ||
| Q2 24 | $-32.9M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 22.9% | ||
| Q1 25 | -325.2% | 4.0% | ||
| Q4 24 | -129.8% | 15.8% | ||
| Q3 24 | -140.2% | 22.9% | ||
| Q2 24 | -193.0% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 24.3% | ||
| Q3 25 | 0.0% | 2.4% | ||
| Q2 25 | 0.0% | 15.1% | ||
| Q1 25 | 1.5% | 6.9% | ||
| Q4 24 | 0.5% | 13.2% | ||
| Q3 24 | 1.2% | 0.5% | ||
| Q2 24 | 0.2% | 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
ADCT
Segment breakdown not available.
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
