MRAM Q3 2026 Total revenue $20.6 million ($20,648 thousand), Beat Guidance by +$0.6M

Revenue versus guidance: Q3 2026 total revenue of $20.6 million beat the $20.0 million prior guidance midpoint by $0.6 million (3.2%) and exceeded the $20.5 million top end of the guided range.

EPS versus guidance: non-GAAP diluted EPS of $0.12 was $0.005 below the $0.125 midpoint but inside the $0.10-$0.15 guided range, while GAAP diluted EPS of $(0.29) was $0.215 worse than the $(0.075) midpoint.

Year-over-year growth: revenue rose 47% to $20.648 million from $14.060 million, with MRAM product sales of $16.9 million versus $12.7 million and licensing, royalty, engineering services and other revenue of $3.7 million versus $1.4 million.

Margins and expenses: GAAP gross margin was 51.4% versus 51.3%, GAAP operating expenses rose to $18.5 million from $8.8 million, and GAAP operating loss widened to $(7.9) million from $(1.5) million; non-GAAP operating income was $2.3 million at an 11.2% operating margin.

Litigation and regulatory effects: GAAP results included $6.0 million of litigation expenses and a $2.7 million regulatory provision in the current quarter.

Fourth-quarter 2026 guidance: revenue of $21.5 million-$22.5 million (midpoint $22.0 million, +/- $0.5 million), GAAP net loss per share of $(0.13)-$(0.08) (midpoint $(0.105)), and non-GAAP net income per diluted share of $0.13-$0.18 (midpoint $0.155).

Cash and cash flow: cash and cash equivalents totaled $43.0 million at September 30, 2026, and nine-month operating cash flow was $1.6 million versus $7.3 million a year earlier, alongside $7.1 million of property and equipment purchases.