Everspin makes specialized MRAM memory chips that survive extreme conditions, used in data centers, cars, and aerospace gear. Think of it as rugged, non-volatile memory for machines that can't afford data loss.
Revenue is tiny at USD 0.06B annually, with gross margins around 52% but operating losses in recent years. The business sells chips to OEMs and ODMs, though it's not consistently profitable.
Everspin's MRAM technology is niche and hard to replicate, but giants like Samsung and TSMC are investing in similar memory, eroding its edge. The moat is real but under pressure from bigger players with more R&D cash.
Key events, in time order
Company announcement confirms new board member, governance change
Record Q2 revenue with initial defense subcontract revenue; after-hours gainer
Product selection for satellite mission indicates expansion in aerospace applications
Company presentation at industry conference may attract investor attention
Short seller notes 300%+ stock surge amid stagnant revenue, report draws attention
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