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Side-by-side financial comparison of enCore Energy Corp. (EU) 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 $12.4M, roughly 1.2× enCore Energy Corp.). EVERSPIN TECHNOLOGIES INC. runs the higher net margin — -2.0% vs -173.9%, a 171.9% gap on every dollar of revenue.
Devon Energy Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware with operational headquarters in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its operations are in the Delaware Basin, Eagle Ford Group, and the Rocky Mountains.
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.
EU vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $12.4M | $14.9M |
| Net Profit | $-21.5M | $-296.0K |
| Gross Margin | 37.9% | 52.7% |
| Operating Margin | -135.9% | 29.0% |
| Net Margin | -173.9% | -2.0% |
| Revenue YoY | — | 13.2% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.11 | $-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 | $12.4M | $14.8M | ||
| Q3 25 | $8.9M | $14.1M | ||
| Q2 25 | $3.7M | $13.2M | ||
| Q1 25 | $18.2M | $13.1M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | — | $12.1M | ||
| Q2 24 | — | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $-21.5M | $1.2M | ||
| Q3 25 | $-4.8M | $54.0K | ||
| Q2 25 | $-6.3M | $-670.0K | ||
| Q1 25 | $-24.2M | $-1.2M | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | — | $2.3M | ||
| Q2 24 | — | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 37.9% | 50.8% | ||
| Q3 25 | 43.8% | 51.3% | ||
| Q2 25 | 30.8% | 51.3% | ||
| Q1 25 | -0.1% | 51.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | — | 49.2% | ||
| Q2 24 | — | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | -135.9% | -7.2% | ||
| Q3 25 | -158.2% | -11.0% | ||
| Q2 25 | -526.1% | -14.9% | ||
| Q1 25 | -85.7% | -14.7% | ||
| Q4 24 | — | -11.8% | ||
| Q3 24 | — | -17.5% | ||
| Q2 24 | — | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | -173.9% | 8.1% | ||
| Q3 25 | -53.7% | 0.4% | ||
| Q2 25 | -172.7% | -5.1% | ||
| Q1 25 | -132.9% | -8.9% | ||
| Q4 24 | — | 9.2% | ||
| Q3 24 | — | 18.8% | ||
| Q2 24 | — | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $-0.11 | $0.05 | ||
| Q3 25 | $-0.03 | $0.00 | ||
| Q2 25 | $-0.03 | $-0.03 | ||
| Q1 25 | $-0.13 | $-0.05 | ||
| Q4 24 | — | $0.07 | ||
| Q3 24 | — | $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 | $52.4M | $40.5M |
| Total DebtLower is stronger | $110.0M | — |
| Stockholders' EquityBook value | $229.2M | $70.2M |
| Total Assets | $430.4M | $83.2M |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $52.4M | $44.5M | ||
| Q3 25 | $91.9M | $45.3M | ||
| Q2 25 | $26.9M | $45.0M | ||
| Q1 25 | $29.7M | $42.2M | ||
| Q4 24 | — | $42.1M | ||
| Q3 24 | — | $39.6M | ||
| Q2 24 | — | $36.8M |
| Q1 26 | — | — | ||
| Q4 25 | $110.0M | — | ||
| Q3 25 | $109.3M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $229.2M | $68.9M | ||
| Q3 25 | $248.6M | $65.8M | ||
| Q2 25 | $264.7M | $64.1M | ||
| Q1 25 | $267.9M | $63.0M | ||
| Q4 24 | — | $62.6M | ||
| Q3 24 | — | $59.3M | ||
| Q2 24 | — | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $430.4M | $84.6M | ||
| Q3 25 | $441.9M | $80.3M | ||
| Q2 25 | $359.4M | $78.9M | ||
| Q1 25 | $362.6M | $80.2M | ||
| Q4 24 | — | $77.8M | ||
| Q3 24 | — | $72.6M | ||
| Q2 24 | — | $64.6M |
| Q1 26 | — | — | ||
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.44× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $12.9M | $570.0K |
| Free Cash FlowOCF − Capex | $7.2M | — |
| FCF MarginFCF / Revenue | 57.8% | — |
| Capex IntensityCapex / Revenue | 46.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-45.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $12.9M | $2.6M | ||
| Q3 25 | $-20.3M | $881.0K | ||
| Q2 25 | $-9.9M | $5.0M | ||
| Q1 25 | $-7.7M | $1.4M | ||
| Q4 24 | — | $3.8M | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | — | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | $7.2M | $-975.0K | ||
| Q3 25 | $-26.3M | $543.0K | ||
| Q2 25 | $-14.1M | $3.0M | ||
| Q1 25 | $-11.7M | $527.0K | ||
| Q4 24 | — | $2.1M | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | — | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | 57.8% | -6.6% | ||
| Q3 25 | -296.6% | 3.9% | ||
| Q2 25 | -385.2% | 22.9% | ||
| Q1 25 | -64.1% | 4.0% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | — | 22.9% | ||
| Q2 24 | — | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 46.7% | 24.3% | ||
| Q3 25 | 68.0% | 2.4% | ||
| Q2 25 | 115.1% | 15.1% | ||
| Q1 25 | 21.7% | 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
EU
Segment breakdown not available.
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
