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Side-by-side financial comparison of Angel Oak Mortgage REIT, Inc. (AOMR) 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 $10.9M, roughly 1.4× Angel Oak Mortgage REIT, Inc.). Angel Oak Mortgage REIT, Inc. runs the higher net margin — 103.9% vs -2.0%, a 105.9% gap on every dollar of revenue. On growth, EVERSPIN TECHNOLOGIES INC. posted the faster year-over-year revenue change (13.2% vs 10.4%). Over the past eight quarters, EVERSPIN TECHNOLOGIES INC.'s revenue compounded faster (18.2% CAGR vs 12.7%).
Angel Oak Mortgage REIT, Inc. is a U.S.-based real estate investment trust focused on investing in residential mortgage assets, including non-agency mortgage-backed securities, residential mortgage loans, and credit-linked real estate instruments. It serves U.S. institutional and retail investors, targeting competitive risk-adjusted returns through regular income and long-term capital growth.
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.
AOMR vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $10.9M | $14.9M |
| Net Profit | $11.3M | $-296.0K |
| Gross Margin | — | 52.7% |
| Operating Margin | — | 29.0% |
| Net Margin | 103.9% | -2.0% |
| Revenue YoY | 10.4% | 13.2% |
| Net Profit YoY | 175.2% | — |
| EPS (diluted) | $0.44 | $-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 | $10.9M | $14.8M | ||
| Q3 25 | $10.2M | $14.1M | ||
| Q2 25 | $9.9M | $13.2M | ||
| Q1 25 | $10.1M | $13.1M | ||
| Q4 24 | $9.9M | $13.2M | ||
| Q3 24 | $9.0M | $12.1M | ||
| Q2 24 | $9.5M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $11.3M | $1.2M | ||
| Q3 25 | $11.4M | $54.0K | ||
| Q2 25 | $767.0K | $-670.0K | ||
| Q1 25 | $20.5M | $-1.2M | ||
| Q4 24 | $-15.1M | $1.2M | ||
| Q3 24 | $31.2M | $2.3M | ||
| Q2 24 | $-273.0K | $-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 | 7.7% | -14.9% | ||
| Q1 25 | — | -14.7% | ||
| Q4 24 | -152.6% | -11.8% | ||
| Q3 24 | — | -17.5% | ||
| Q2 24 | -1.4% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | 103.9% | 8.1% | ||
| Q3 25 | 112.1% | 0.4% | ||
| Q2 25 | 7.7% | -5.1% | ||
| Q1 25 | 203.5% | -8.9% | ||
| Q4 24 | -152.6% | 9.2% | ||
| Q3 24 | 345.9% | 18.8% | ||
| Q2 24 | -2.9% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.44 | $0.05 | ||
| Q3 25 | $0.46 | $0.00 | ||
| Q2 25 | $0.03 | $-0.03 | ||
| Q1 25 | $0.87 | $-0.05 | ||
| Q4 24 | $-0.62 | $0.07 | ||
| Q3 24 | $1.29 | $0.10 | ||
| Q2 24 | $-0.01 | $-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 | $41.6M | $40.5M |
| Total DebtLower is stronger | $2.3B | — |
| Stockholders' EquityBook value | $267.5M | $70.2M |
| Total Assets | $2.7B | $83.2M |
| Debt / EquityLower = less leverage | 8.51× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $41.6M | $44.5M | ||
| Q3 25 | $51.6M | $45.3M | ||
| Q2 25 | $40.5M | $45.0M | ||
| Q1 25 | $38.7M | $42.2M | ||
| Q4 24 | $40.8M | $42.1M | ||
| Q3 24 | $42.1M | $39.6M | ||
| Q2 24 | $44.0M | $36.8M |
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $267.5M | $68.9M | ||
| Q3 25 | $264.2M | $65.8M | ||
| Q2 25 | $246.4M | $64.1M | ||
| Q1 25 | $251.5M | $63.0M | ||
| Q4 24 | $239.0M | $62.6M | ||
| Q3 24 | $265.1M | $59.3M | ||
| Q2 24 | $255.8M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $2.7B | $84.6M | ||
| Q3 25 | $2.6B | $80.3M | ||
| Q2 25 | $2.6B | $78.9M | ||
| Q1 25 | $2.7B | $80.2M | ||
| Q4 24 | $2.3B | $77.8M | ||
| Q3 24 | $2.3B | $72.6M | ||
| Q2 24 | $2.1B | $64.6M |
| Q1 26 | — | — | ||
| Q4 25 | 8.51× | — | ||
| Q3 25 | 8.37× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 7.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-407.0M | $570.0K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -35.96× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $-407.0M | $2.6M | ||
| Q3 25 | $-173.4M | $881.0K | ||
| Q2 25 | $20.6M | $5.0M | ||
| Q1 25 | $-201.7M | $1.4M | ||
| Q4 24 | $-221.5M | $3.8M | ||
| Q3 24 | $-212.4M | $2.8M | ||
| Q2 24 | $-24.2M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-975.0K | ||
| Q3 25 | — | $543.0K | ||
| Q2 25 | — | $3.0M | ||
| Q1 25 | — | $527.0K | ||
| Q4 24 | — | $2.1M | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | — | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 22.9% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | — | 22.9% | ||
| Q2 24 | — | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 15.1% | ||
| Q1 25 | — | 6.9% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | -35.96× | 2.19× | ||
| Q3 25 | -15.19× | 16.31× | ||
| Q2 25 | 26.92× | — | ||
| Q1 25 | -9.83× | — | ||
| Q4 24 | — | 3.16× | ||
| Q3 24 | -6.81× | 1.25× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AOMR
| Nonrelated Party | $6.4M | 59% |
| Other | $4.5M | 41% |
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
