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Side-by-side financial comparison of Invivyd, Inc. (IVVD) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
Invivyd, Inc. is the larger business by last-quarter revenue ($17.2M vs $14.9M, roughly 1.2× EVERSPIN TECHNOLOGIES INC.). EVERSPIN TECHNOLOGIES INC. runs the higher net margin — -2.0% vs -64.3%, a 62.3% gap on every dollar of revenue. On growth, Invivyd, Inc. posted the faster year-over-year revenue change (24.5% vs 13.2%).
Invivyd, Inc. is a clinical-stage biopharmaceutical company focused on developing broadly neutralizing antibody therapies to prevent and treat serious viral infectious diseases. Its core research and development pipeline targets high-burden respiratory pathogens including respiratory syncytial virus, catering to unmet medical needs of global patient groups.
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.
IVVD vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $17.2M | $14.9M |
| Net Profit | $-11.1M | $-296.0K |
| Gross Margin | — | 52.7% |
| Operating Margin | -73.0% | 29.0% |
| Net Margin | -64.3% | -2.0% |
| Revenue YoY | 24.5% | 13.2% |
| Net Profit YoY | 40.0% | — |
| EPS (diluted) | $0.02 | $-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 | $17.2M | $14.8M | ||
| Q3 25 | $13.1M | $14.1M | ||
| Q2 25 | $11.8M | $13.2M | ||
| Q1 25 | $11.3M | $13.1M | ||
| Q4 24 | $13.8M | $13.2M | ||
| Q3 24 | $9.3M | $12.1M | ||
| Q2 24 | $2.3M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $-11.1M | $1.2M | ||
| Q3 25 | $-10.5M | $54.0K | ||
| Q2 25 | $-14.7M | $-670.0K | ||
| Q1 25 | $-16.3M | $-1.2M | ||
| Q4 24 | $-18.4M | $1.2M | ||
| Q3 24 | $-60.7M | $2.3M | ||
| Q2 24 | $-47.2M | $-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 | -73.0% | -7.2% | ||
| Q3 25 | -84.0% | -11.0% | ||
| Q2 25 | -127.8% | -14.9% | ||
| Q1 25 | -149.7% | -14.7% | ||
| Q4 24 | -139.1% | -11.8% | ||
| Q3 24 | -670.0% | -17.5% | ||
| Q2 24 | -2175.2% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | -64.3% | 8.1% | ||
| Q3 25 | -79.7% | 0.4% | ||
| Q2 25 | -124.4% | -5.1% | ||
| Q1 25 | -144.1% | -8.9% | ||
| Q4 24 | -133.5% | 9.2% | ||
| Q3 24 | -653.1% | 18.8% | ||
| Q2 24 | -2086.9% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.02 | $0.05 | ||
| Q3 25 | $-0.06 | $0.00 | ||
| Q2 25 | $-0.12 | $-0.03 | ||
| Q1 25 | $-0.14 | $-0.05 | ||
| Q4 24 | $-0.14 | $0.07 | ||
| Q3 24 | $-0.51 | $0.10 | ||
| Q2 24 | $-0.40 | $-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 | $226.7M | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $241.5M | $70.2M |
| Total Assets | $276.9M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $226.7M | $44.5M | ||
| Q3 25 | $85.0M | $45.3M | ||
| Q2 25 | $34.9M | $45.0M | ||
| Q1 25 | $48.1M | $42.2M | ||
| Q4 24 | $69.3M | $42.1M | ||
| Q3 24 | $106.9M | $39.6M | ||
| Q2 24 | $147.9M | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $241.5M | $68.9M | ||
| Q3 25 | $93.1M | $65.8M | ||
| Q2 25 | $42.8M | $64.1M | ||
| Q1 25 | $54.1M | $63.0M | ||
| Q4 24 | $67.5M | $62.6M | ||
| Q3 24 | $83.2M | $59.3M | ||
| Q2 24 | $140.6M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $276.9M | $84.6M | ||
| Q3 25 | $139.2M | $80.3M | ||
| Q2 25 | $89.1M | $78.9M | ||
| Q1 25 | $103.7M | $80.2M | ||
| Q4 24 | $129.5M | $77.8M | ||
| Q3 24 | $161.9M | $72.6M | ||
| Q2 24 | $177.3M | $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 | $-15.5M | $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 | $-15.5M | $2.6M | ||
| Q3 25 | $-8.3M | $881.0K | ||
| Q2 25 | $-13.3M | $5.0M | ||
| Q1 25 | $-21.1M | $1.4M | ||
| Q4 24 | $-37.6M | $3.8M | ||
| Q3 24 | $-41.1M | $2.8M | ||
| Q2 24 | $-41.6M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-975.0K | ||
| Q3 25 | — | $543.0K | ||
| Q2 25 | $-13.3M | $3.0M | ||
| Q1 25 | $-21.3M | $527.0K | ||
| Q4 24 | $-37.6M | $2.1M | ||
| Q3 24 | $-41.1M | $2.8M | ||
| Q2 24 | — | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | -112.9% | 22.9% | ||
| Q1 25 | -188.2% | 4.0% | ||
| Q4 24 | -272.2% | 15.8% | ||
| Q3 24 | -441.6% | 22.9% | ||
| Q2 24 | — | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 24.3% | ||
| Q3 25 | 0.0% | 2.4% | ||
| Q2 25 | 0.1% | 15.1% | ||
| Q1 25 | 1.3% | 6.9% | ||
| Q4 24 | 0.0% | 13.2% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.0% | 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
IVVD
Segment breakdown not available.
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
