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Side-by-side financial comparison of EVERSPIN TECHNOLOGIES INC. (MRAM) and Navitas Semiconductor Corp (NVTS). Click either name above to swap in a different company.
EVERSPIN TECHNOLOGIES INC. is the larger business by last-quarter revenue ($14.9M vs $8.6M, roughly 1.7× Navitas Semiconductor Corp). On growth, EVERSPIN TECHNOLOGIES INC. posted the faster year-over-year revenue change (13.2% vs -38.7%). Over the past eight quarters, EVERSPIN TECHNOLOGIES INC.'s revenue compounded faster (18.2% CAGR vs -35.2%).
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.
Navitas Semiconductor Corp is a leading global semiconductor firm specializing in gallium nitride (GaN) power integrated circuits. Its high-efficiency, compact power solutions serve consumer electronics, electric vehicles, renewable energy, and industrial sectors, with clients spanning North America, Asia, and Europe.
MRAM vs NVTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $14.9M | $8.6M |
| Net Profit | $-296.0K | — |
| Gross Margin | 52.7% | 98.6% |
| Operating Margin | 29.0% | -260.6% |
| Net Margin | -2.0% | — |
| Revenue YoY | 13.2% | -38.7% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-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 | $8.6M | ||
| Q4 25 | $14.8M | $7.3M | ||
| Q3 25 | $14.1M | $10.1M | ||
| Q2 25 | $13.2M | $14.5M | ||
| Q1 25 | $13.1M | $14.0M | ||
| Q4 24 | $13.2M | $18.0M | ||
| Q3 24 | $12.1M | $21.7M | ||
| Q2 24 | $10.6M | $20.5M |
| Q1 26 | $-296.0K | — | ||
| Q4 25 | $1.2M | $-31.8M | ||
| Q3 25 | $54.0K | $-19.2M | ||
| Q2 25 | $-670.0K | $-49.1M | ||
| Q1 25 | $-1.2M | $-16.8M | ||
| Q4 24 | $1.2M | $-39.9M | ||
| Q3 24 | $2.3M | $-18.7M | ||
| Q2 24 | $-2.5M | $-22.3M |
| Q1 26 | 52.7% | 98.6% | ||
| Q4 25 | 50.8% | 38.1% | ||
| Q3 25 | 51.3% | 37.9% | ||
| Q2 25 | 51.3% | 16.1% | ||
| Q1 25 | 51.4% | 37.9% | ||
| Q4 24 | 51.3% | 12.4% | ||
| Q3 24 | 49.2% | 39.7% | ||
| Q2 24 | 49.0% | 39.0% |
| Q1 26 | 29.0% | -260.6% | ||
| Q4 25 | -7.2% | -567.3% | ||
| Q3 25 | -11.0% | -192.0% | ||
| Q2 25 | -14.9% | -149.4% | ||
| Q1 25 | -14.7% | -180.5% | ||
| Q4 24 | -11.8% | -216.9% | ||
| Q3 24 | -17.5% | -133.6% | ||
| Q2 24 | -26.5% | -152.1% |
| Q1 26 | -2.0% | — | ||
| Q4 25 | 8.1% | -436.1% | ||
| Q3 25 | 0.4% | -190.2% | ||
| Q2 25 | -5.1% | -338.7% | ||
| Q1 25 | -8.9% | -120.1% | ||
| Q4 24 | 9.2% | -221.7% | ||
| Q3 24 | 18.8% | -86.4% | ||
| Q2 24 | -23.5% | -109.1% |
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $0.05 | $-0.14 | ||
| Q3 25 | $0.00 | $-0.09 | ||
| Q2 25 | $-0.03 | $-0.25 | ||
| Q1 25 | $-0.05 | $-0.09 | ||
| Q4 24 | $0.07 | $-0.22 | ||
| Q3 24 | $0.10 | $-0.10 | ||
| Q2 24 | $-0.12 | $-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 | $40.5M | $221.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $70.2M | $420.0M |
| Total Assets | $83.2M | $481.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $40.5M | $221.0M | ||
| Q4 25 | $44.5M | $236.9M | ||
| Q3 25 | $45.3M | $150.6M | ||
| Q2 25 | $45.0M | $161.2M | ||
| Q1 25 | $42.2M | $75.1M | ||
| Q4 24 | $42.1M | $86.7M | ||
| Q3 24 | $39.6M | $98.3M | ||
| Q2 24 | $36.8M | $111.7M |
| Q1 26 | $70.2M | $420.0M | ||
| Q4 25 | $68.9M | $443.7M | ||
| Q3 25 | $65.8M | $371.0M | ||
| Q2 25 | $64.1M | $388.9M | ||
| Q1 25 | $63.0M | $341.8M | ||
| Q4 24 | $62.6M | $348.0M | ||
| Q3 24 | $59.3M | $380.8M | ||
| Q2 24 | $55.4M | $388.1M |
| Q1 26 | $83.2M | $481.4M | ||
| Q4 25 | $84.6M | $500.5M | ||
| Q3 25 | $80.3M | $430.2M | ||
| Q2 25 | $78.9M | $449.4M | ||
| Q1 25 | $80.2M | $370.8M | ||
| Q4 24 | $77.8M | $390.0M | ||
| Q3 24 | $72.6M | $419.4M | ||
| Q2 24 | $64.6M | $439.1M |
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 | $570.0K | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $570.0K | — | ||
| Q4 25 | $2.6M | $-8.1M | ||
| Q3 25 | $881.0K | $-10.0M | ||
| Q2 25 | $5.0M | $-11.2M | ||
| Q1 25 | $1.4M | $-13.5M | ||
| Q4 24 | $3.8M | $-10.2M | ||
| Q3 24 | $2.8M | $-13.7M | ||
| Q2 24 | $1.7M | $-15.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-975.0K | $-8.2M | ||
| Q3 25 | $543.0K | $-10.7M | ||
| Q2 25 | $3.0M | $-11.9M | ||
| Q1 25 | $527.0K | $-13.6M | ||
| Q4 24 | $2.1M | $-10.8M | ||
| Q3 24 | $2.8M | $-14.3M | ||
| Q2 24 | $1.7M | $-17.9M |
| Q1 26 | — | — | ||
| Q4 25 | -6.6% | -111.8% | ||
| Q3 25 | 3.9% | -106.1% | ||
| Q2 25 | 22.9% | -82.2% | ||
| Q1 25 | 4.0% | -96.8% | ||
| Q4 24 | 15.8% | -59.8% | ||
| Q3 24 | 22.9% | -65.9% | ||
| Q2 24 | 15.9% | -87.3% |
| Q1 26 | — | — | ||
| Q4 25 | 24.3% | 0.7% | ||
| Q3 25 | 2.4% | 7.0% | ||
| Q2 25 | 15.1% | 4.7% | ||
| Q1 25 | 6.9% | 0.3% | ||
| Q4 24 | 13.2% | 3.1% | ||
| Q3 24 | 0.5% | 2.6% | ||
| Q2 24 | 0.3% | 13.4% |
| 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
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
NVTS
Segment breakdown not available.
