vs
Side-by-side financial comparison of Ladder Capital Corp (LADR) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
Ladder Capital Corp is the larger business by last-quarter revenue ($22.3M vs $14.9M, roughly 1.5× EVERSPIN TECHNOLOGIES INC.). Ladder Capital Corp runs the higher net margin — 71.0% vs -2.0%, a 73.0% gap on every dollar of revenue. On growth, EVERSPIN TECHNOLOGIES INC. posted the faster year-over-year revenue change (13.2% vs -18.0%). Over the past eight quarters, EVERSPIN TECHNOLOGIES INC.'s revenue compounded faster (18.2% CAGR vs -22.5%).
Ladder Capital Corp is a leading commercial real estate finance firm operating primarily across the United States. It originates and manages a diversified portfolio of senior secured commercial mortgage loans, mezzanine debt, commercial mortgage-backed securities, and direct real estate assets, serving property owners, operators and developers across major market segments.
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.
LADR vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $22.3M | $14.9M |
| Net Profit | $15.9M | $-296.0K |
| Gross Margin | — | 52.7% |
| Operating Margin | 69.5% | 29.0% |
| Net Margin | 71.0% | -2.0% |
| Revenue YoY | -18.0% | 13.2% |
| Net Profit YoY | -49.4% | — |
| EPS (diluted) | $0.13 | $-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 | $22.3M | $14.8M | ||
| Q3 25 | $27.8M | $14.1M | ||
| Q2 25 | $21.5M | $13.2M | ||
| Q1 25 | $20.3M | $13.1M | ||
| Q4 24 | $27.2M | $13.2M | ||
| Q3 24 | $38.4M | $12.1M | ||
| Q2 24 | $34.3M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $15.9M | $1.2M | ||
| Q3 25 | $19.2M | $54.0K | ||
| Q2 25 | $17.1M | $-670.0K | ||
| Q1 25 | $11.6M | $-1.2M | ||
| Q4 24 | $31.3M | $1.2M | ||
| Q3 24 | $27.6M | $2.3M | ||
| Q2 24 | $32.1M | $-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 | 69.5% | -7.2% | ||
| Q3 25 | 72.4% | -11.0% | ||
| Q2 25 | 96.7% | -14.9% | ||
| Q1 25 | 52.7% | -14.7% | ||
| Q4 24 | — | -11.8% | ||
| Q3 24 | 74.1% | -17.5% | ||
| Q2 24 | 90.4% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | 71.0% | 8.1% | ||
| Q3 25 | 69.0% | 0.4% | ||
| Q2 25 | 79.5% | -5.1% | ||
| Q1 25 | 56.8% | -8.9% | ||
| Q4 24 | 115.1% | 9.2% | ||
| Q3 24 | 71.7% | 18.8% | ||
| Q2 24 | 93.6% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.13 | $0.05 | ||
| Q3 25 | $0.15 | $0.00 | ||
| Q2 25 | $0.14 | $-0.03 | ||
| Q1 25 | $0.09 | $-0.05 | ||
| Q4 24 | $0.25 | $0.07 | ||
| Q3 24 | $0.22 | $0.10 | ||
| Q2 24 | $0.26 | $-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 | $38.0M | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $70.2M |
| Total Assets | $5.2B | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $38.0M | $44.5M | ||
| Q3 25 | $49.4M | $45.3M | ||
| Q2 25 | $134.9M | $45.0M | ||
| Q1 25 | $479.8M | $42.2M | ||
| Q4 24 | $1.3B | $42.1M | ||
| Q3 24 | $1.6B | $39.6M | ||
| Q2 24 | $1.2B | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $1.5B | $68.9M | ||
| Q3 25 | $1.5B | $65.8M | ||
| Q2 25 | $1.5B | $64.1M | ||
| Q1 25 | $1.5B | $63.0M | ||
| Q4 24 | $1.5B | $62.6M | ||
| Q3 24 | $1.5B | $59.3M | ||
| Q2 24 | $1.5B | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $5.2B | $84.6M | ||
| Q3 25 | $4.7B | $80.3M | ||
| Q2 25 | $4.5B | $78.9M | ||
| Q1 25 | $4.5B | $80.2M | ||
| Q4 24 | $4.8B | $77.8M | ||
| Q3 24 | $4.8B | $72.6M | ||
| Q2 24 | $4.8B | $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 | $87.0M | $570.0K |
| Free Cash FlowOCF − Capex | $78.7M | — |
| FCF MarginFCF / Revenue | 352.4% | — |
| Capex IntensityCapex / Revenue | 37.4% | — |
| Cash ConversionOCF / Net Profit | 5.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $118.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $87.0M | $2.6M | ||
| Q3 25 | $26.3M | $881.0K | ||
| Q2 25 | $44.0M | $5.0M | ||
| Q1 25 | $-28.7M | $1.4M | ||
| Q4 24 | $133.9M | $3.8M | ||
| Q3 24 | $169.0M | $2.8M | ||
| Q2 24 | $45.4M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | $78.7M | $-975.0K | ||
| Q3 25 | $25.9M | $543.0K | ||
| Q2 25 | $43.4M | $3.0M | ||
| Q1 25 | $-29.6M | $527.0K | ||
| Q4 24 | $127.4M | $2.1M | ||
| Q3 24 | $166.0M | $2.8M | ||
| Q2 24 | $44.9M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | 352.4% | -6.6% | ||
| Q3 25 | 93.1% | 3.9% | ||
| Q2 25 | 201.6% | 22.9% | ||
| Q1 25 | -145.6% | 4.0% | ||
| Q4 24 | 468.2% | 15.8% | ||
| Q3 24 | 432.1% | 22.9% | ||
| Q2 24 | 131.0% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 37.4% | 24.3% | ||
| Q3 25 | 1.7% | 2.4% | ||
| Q2 25 | 2.9% | 15.1% | ||
| Q1 25 | 4.3% | 6.9% | ||
| Q4 24 | 23.9% | 13.2% | ||
| Q3 24 | 7.8% | 0.5% | ||
| Q2 24 | 1.3% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 5.49× | 2.19× | ||
| Q3 25 | 1.37× | 16.31× | ||
| Q2 25 | 2.57× | — | ||
| Q1 25 | -2.49× | — | ||
| Q4 24 | 4.27× | 3.16× | ||
| Q3 24 | 6.13× | 1.25× | ||
| Q2 24 | 1.41× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LADR
Segment breakdown not available.
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
