EVERSPIN TECHNOLOGIES INC. — Form 10-Q
Filed August 5, 2026 · analyzed by the Periodic Agent
10-Q
▲ Likely positive
significance 72/100
What the filing says
Everspin signed two major agreements: (1) Foundry Services Agreement with Microchip effective April 2026 for MRAM wafer manufacturing at Microchip's Fab 4 in Gresham, Oregon, with Everspin paying $13.95M in setup costs (Phase 1: $8.95M; Phase 2: $5M) and committing to take-or-pay minimums starting at 200 wafers/quarter ramping to 1,300/quarter, pricing $1,024.14–$953/wafer. (2) Subcontract S26-03-010 with Amentum (prime contractor) worth $40M, spanning April 2026–November 2028, for Toggle MRAM technology transfer and manufacturing readiness at a second U.S. location, with milestones tied to process qualification, electrical characterization, and production startup.
Why this rating
Two transformational partnerships: Microchip secures domestic MRAM foundry capacity (critical for U.S. resilience); Everspin gains $40M government contract + committed manufacturing volume, offsetting $13.95M capex. Scale-relative: $40M subcontract is 30% of Everspin's $134M market cap; Microchip commitment + take-or-pay obligations substantially de-risk revenue. Material but execution-dependent on qualification timelines.
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