Is Everspin Tech (MRAM) One of the Best Performing Semiconductor Stocks So Far in 2026?

Everspin Technologies Inc. (NASDAQ:MRAM) is one of the best performing semiconductor stocks so far in 2026. On April 29, Everspin Technologies reported preliminary unaudited Q1 2026 total revenue of $14.9 million, up from $13.1 million in Q1 2025. Growth was driven by MRAM product sales, which rose to $14.1 million, offsetting a decline in licensing and royalty revenue to $0.8 million. The company narrowed its GAAP net loss to $0.3 million ($0.01 per diluted share), while non-GAAP net income grew significantly to $2.6 million ($0.11 per diluted share).

Financial efficiency improved with gross margin increasing to 52.7%, compared to 51.4% in the prior year period. GAAP operating expenses grew to $10.6 million, while net interest and other income increased to $2.4 million. Everspin maintained a solid cash position, ending the quarter with $40.5 million in cash and cash equivalents to fund its strategic initiatives, including its Foundry Services Agreement with Microchip.

Operational demand was supported by strength in industrial automation, transportation, and data center sectors, alongside a recovery in customer demand in Japan as inventory normalized. Everspin Technologies Inc. (NASDAQ:MRAM) also secured a new $40 million contract with a US prime contractor to deliver state-of-the-art MRAM process technology to the Defense Industrial Base. For Q2 2026, the company projects total revenue between $15.5 and $16.5 million.

Everspin Technologies Inc. (NASDAQ:MRAM) develops and manufactures magnetoresistive random-access memory products for industrial, data center, automotive, aerospace, and other mission-critical applications.

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