EVERSPIN TECHNOLOGIES INC.

We are a pioneer in the commercialization of Magnetoresistive Random Access Memory (MRAM) technology. Our MRAM technologies, including Toggle MRAM, Tunnel Magneto Resistance (TMR) Sensors, and Spin-transfer Torque MRAM (STT-MRAM), provide non-volatile memories that protect mission-critical data against power loss. With over 20 years of MRAM technology and manufacturing leadership, our memory solutions serve customers in industrial, medical, automotive/transportation, aerospace and defense, and data center markets. We are the leading supplier of discrete MRAM components and license our technology and intellectual property. We sell products directly and through distribution channels to original equipment manufacturers (OEMs) and original design manufacturers (ODMs). We manufacture MRAM products using both our own and third-party capabilities. We purchase complementary metal-oxide semiconductor (CMOS) wafers from foundries and perform back end of line (BEOL) processing, including our magnetic-bit technology, at our leased 200mm fabrication facility in Chandler, Arizona. We also manufacture full-flow 300mm CMOS wafers with STT-MRAM magnetic-bit technology integrated in BEOL through our strategic relationship with GLOBALFOUNDRIES Inc. For the years ended December 31, 2025 and 2024, we recorded revenue of $55.2 million and $50.4 million, gross margin of 51.2% and 51.8%, and net loss of $0.6 million and net income of $0.8 million, respectively. Our headquarters is in Chandler, Arizona, our principal design center is in Austin, Texas, and we have sales operations in the Americas, Europe, and Asia-Pacific regions. Our Toggle MRAM products have been in production since 2008 and are currently shipping in 128kb to 32Mb densities.