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Side-by-side financial comparison of Ceribell, Inc. (CBLL) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
Ceribell, Inc. is the larger business by last-quarter revenue ($24.8M vs $14.9M, roughly 1.7× EVERSPIN TECHNOLOGIES INC.). EVERSPIN TECHNOLOGIES INC. runs the higher net margin — -2.0% vs -54.6%, a 52.6% gap on every dollar of revenue.
Ceribell, Inc. develops and commercializes innovative portable neurodiagnostic medical devices, focused on rapid non-invasive electroencephalogram (EEG) solutions for seizure detection. Its core products serve hospital emergency departments, intensive care units, and long-term care facilities, with primary markets across North America and ongoing global expansion efforts.
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.
CBLL vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $24.8M | $14.9M |
| Net Profit | $-13.5M | $-296.0K |
| Gross Margin | 87.3% | 52.7% |
| Operating Margin | -58.9% | 29.0% |
| Net Margin | -54.6% | -2.0% |
| Revenue YoY | — | 13.2% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.35 | $-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 | $24.8M | $14.8M | ||
| Q3 25 | $22.6M | $14.1M | ||
| Q2 25 | $21.2M | $13.2M | ||
| Q1 25 | $20.5M | $13.1M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | $17.2M | $12.1M | ||
| Q2 24 | — | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $-13.5M | $1.2M | ||
| Q3 25 | $-13.5M | $54.0K | ||
| Q2 25 | $-13.6M | $-670.0K | ||
| Q1 25 | $-12.8M | $-1.2M | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | $-10.4M | $2.3M | ||
| Q2 24 | — | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 87.3% | 50.8% | ||
| Q3 25 | 88.3% | 51.3% | ||
| Q2 25 | 88.1% | 51.3% | ||
| Q1 25 | 87.9% | 51.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | 87.3% | 49.2% | ||
| Q2 24 | — | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | -58.9% | -7.2% | ||
| Q3 25 | -64.8% | -11.0% | ||
| Q2 25 | -70.5% | -14.9% | ||
| Q1 25 | -69.3% | -14.7% | ||
| Q4 24 | — | -11.8% | ||
| Q3 24 | -57.8% | -17.5% | ||
| Q2 24 | — | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | -54.6% | 8.1% | ||
| Q3 25 | -59.6% | 0.4% | ||
| Q2 25 | -64.4% | -5.1% | ||
| Q1 25 | -62.4% | -8.9% | ||
| Q4 24 | — | 9.2% | ||
| Q3 24 | -60.6% | 18.8% | ||
| Q2 24 | — | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $-0.35 | $0.05 | ||
| Q3 25 | $-0.37 | $0.00 | ||
| Q2 25 | $-0.38 | $-0.03 | ||
| Q1 25 | $-0.36 | $-0.05 | ||
| Q4 24 | — | $0.07 | ||
| Q3 24 | $-1.85 | $0.10 | ||
| Q2 24 | — | $-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 | $159.3M | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $155.3M | $70.2M |
| Total Assets | $195.8M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $159.3M | $44.5M | ||
| Q3 25 | $168.5M | $45.3M | ||
| Q2 25 | $177.4M | $45.0M | ||
| Q1 25 | $182.7M | $42.2M | ||
| Q4 24 | — | $42.1M | ||
| Q3 24 | $14.1M | $39.6M | ||
| Q2 24 | — | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $155.3M | $68.9M | ||
| Q3 25 | $164.1M | $65.8M | ||
| Q2 25 | $172.2M | $64.1M | ||
| Q1 25 | $180.9M | $63.0M | ||
| Q4 24 | — | $62.6M | ||
| Q3 24 | $-136.0M | $59.3M | ||
| Q2 24 | — | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $195.8M | $84.6M | ||
| Q3 25 | $199.5M | $80.3M | ||
| Q2 25 | $207.7M | $78.9M | ||
| Q1 25 | $213.5M | $80.2M | ||
| Q4 24 | — | $77.8M | ||
| Q3 24 | $47.1M | $72.6M | ||
| Q2 24 | — | $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 | $-10.8M | $570.0K |
| Free Cash FlowOCF − Capex | $-11.0M | — |
| FCF MarginFCF / Revenue | -44.2% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-41.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $-10.8M | $2.6M | ||
| Q3 25 | $-11.1M | $881.0K | ||
| Q2 25 | $-7.5M | $5.0M | ||
| Q1 25 | $-11.4M | $1.4M | ||
| Q4 24 | — | $3.8M | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | — | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-11.0M | $-975.0K | ||
| Q3 25 | $-11.5M | $543.0K | ||
| Q2 25 | $-7.6M | $3.0M | ||
| Q1 25 | $-11.6M | $527.0K | ||
| Q4 24 | — | $2.1M | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | — | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | -44.2% | -6.6% | ||
| Q3 25 | -50.8% | 3.9% | ||
| Q2 25 | -35.9% | 22.9% | ||
| Q1 25 | -56.4% | 4.0% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | — | 22.9% | ||
| Q2 24 | — | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 24.3% | ||
| Q3 25 | 1.6% | 2.4% | ||
| Q2 25 | 0.3% | 15.1% | ||
| Q1 25 | 0.7% | 6.9% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 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
CBLL
| Products | $18.8M | 76% |
| Subscription | $6.0M | 24% |
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
