NVE Corporation Reports Third Quarter Results and Announces Quarterly Dividend
Total revenue for the third quarter of fiscal 2026 increased 23% to
For the first nine months of fiscal 2026, total revenue increased 0.4% to
The company also announced a quarterly cash dividend to shareholders of
“We’re pleased to report strong increases in revenue and earnings for the quarter, driven by broad-based growth across our revenue lines,” said NVE President and Chief Executive Officer
NVE is a leader in the practical commercialization of spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information. The company manufactures high-performance spintronic products including sensors and couplers that are used to acquire and transmit data.
Statements used in this press release that relate to future plans, events, financial results, or performance are forward-looking statements that are subject to certain risks and uncertainties including, among others, such factors as our reliance on several large customers for a significant percentage of revenue, uncertainties related to the economic environments in the industries we serve, uncertainties related to future sales and revenues, risks and uncertainties related to tariffs, customs, duties, and other trade barriers, as well as the risk factors listed from time to time in our filings with the
|
(Unaudited) |
||||||
|
Quarter Ended |
||||||
|
2025 |
|
2024 |
||||
|
Revenue |
||||||
|
Product sales |
$ |
5,778,674 |
$ |
4,960,488 |
||
|
Contract research and development |
|
446,102 |
|
|
102,557 |
|
|
Total revenue, net |
|
6,224,776 |
|
5,063,045 |
||
|
Cost of sales |
|
1,332,679 |
|
|
797,622 |
|
|
Gross profit |
|
4,892,097 |
|
4,265,423 |
||
|
Expenses |
|
|
|
|
|
|
|
Research and development |
|
795,585 |
|
869,677 |
||
|
Selling, general, and administrative |
|
352,136 |
|
|
434,783 |
|
|
Total expenses |
|
1,147,721 |
|
|
1,304,460 |
|
|
Income from operations |
|
3,744,376 |
|
2,960,963 |
||
|
Interest income |
|
461,954 |
|
|
474,180 |
|
|
Other income |
|
- |
|
|
|
135,057 |
|
Income before taxes |
|
4,206,330 |
|
3,570,200 |
||
|
Provision for income taxes |
|
821,688 |
|
|
521,790 |
|
|
Net income |
$ |
3,384,642 |
|
$ |
3,048,410 |
|
|
Net income per share – basic |
$ |
0.70 |
|
$ |
0.63 |
|
|
Net income per share – diluted |
$ |
0.70 |
|
$ |
0.63 |
|
|
Weighted average shares outstanding |
|
|
|
|
||
|
Basic |
|
4,837,166 |
|
|
|
4,835,262 |
|
Diluted |
|
4,839,257 |
|
|
|
4,839,124 |
|
|
Nine Months Ended |
|||||
|
|
2025 |
|
2024 |
|||
|
Revenue |
|
|
|
|
|
|
|
Product sales |
$ |
17,826,016 |
|
|
$ |
17,680,780 |
|
Contract research and development |
|
850,396 |
|
|
|
924,199 |
|
Total revenue, net |
|
18,676,412 |
|
|
|
18,604,979 |
|
Cost of sales |
|
3,893,696 |
|
|
|
2,720,370 |
|
Gross profit |
|
14,782,716 |
|
|
|
15,884,609 |
|
Expenses |
|
|
|
|
|
|
|
Research and development |
|
2,389,286 |
|
|
|
2,595,808 |
|
Selling, general, and administrative |
|
1,207,695 |
|
|
|
1,543,428 |
|
Total expenses |
|
3,596,981 |
|
|
|
4,139,236 |
|
Income from operations |
|
11,185,735 |
|
|
|
11,745,373 |
|
Interest income |
|
1,444,492 |
|
|
|
1,432,568 |
|
Other income |
|
3,905 |
|
|
|
135,057 |
|
Income before taxes |
|
12,634,132 |
|
|
|
13,312,998 |
|
Provision for income taxes |
|
2,362,834 |
|
|
|
2,140,856 |
|
Net income |
$ |
10,271,298 |
|
|
$ |
11,172,142 |
|
Net income per share – basic |
$ |
2.12 |
|
|
$ |
2.31 |
|
Net income per share – diluted |
$ |
2.12 |
|
|
$ |
2.31 |
|
Weighted average shares outstanding |
|
|
|
|
|
|
|
Basic |
|
4,837,166 |
|
|
|
4,834,382 |
|
Diluted |
|
4,839,120 |
|
|
|
4,839,247 |
|
|
||||||||
|
|
|
(Unaudited)
|
|
|
|
|
||
|
ASSETS |
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
3,408,531 |
|
|
$ |
8,036,564 |
|
|
Marketable securities, short-term (amortized cost of |
|
|
17,156,488 |
|
|
|
13,691,593 |
|
|
Accounts receivable, net of allowance for credit losses of |
|
|
2,483,045 |
|
|
|
3,589,268 |
|
|
Inventories, net |
|
|
7,271,798 |
|
|
|
7,449,083 |
|
|
Prepaid expenses and other assets |
|
|
756,715 |
|
|
|
433,414 |
|
|
Total current assets |
|
|
31,076,577 |
|
|
|
33,199,922 |
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Machinery and equipment |
|
|
13,834,355 |
|
|
|
11,758,205 |
|
|
Leasehold improvements |
|
|
2,059,853 |
|
|
|
1,956,309 |
|
|
|
|
|
15,894,208 |
|
|
|
13,714,514 |
|
|
Less accumulated depreciation and amortization |
|
|
11,996,423 |
|
|
|
11,727,615 |
|
|
Fixed assets, net |
|
|
3,897,785 |
|
|
|
1,986,899 |
|
|
Deferred tax assets |
|
|
722,602 |
|
|
|
1,867,069 |
|
|
Marketable securities, long-term (amortized cost of |
|
|
23,441,471 |
|
|
|
26,304,623 |
|
|
Right-of-use asset – operating lease |
|
|
824,631 |
|
|
|
917,349 |
|
|
Total assets |
|
$ |
59,963,066 |
|
|
$ |
64,275,862 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
226,856 |
|
|
$ |
214,691 |
|
|
Accrued payroll and other |
|
|
504,710 |
|
|
|
871,169 |
|
|
Operating lease |
|
|
160,413 |
|
|
|
83,010 |
|
|
Total current liabilities |
|
|
891,979 |
|
|
|
1,168,870 |
|
|
Long-term operating lease liability |
|
|
773,996 |
|
|
|
838,221 |
|
|
Total liabilities |
|
|
1,665,975 |
|
|
|
2,007,091 |
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders’ equity |
|
|
|
|
|
|
|
|
|
Common stock |
|
|
48,372 |
|
|
|
48,372 |
|
|
Additional paid-in capital |
|
|
19,904,513 |
|
|
|
19,821,106 |
|
|
Accumulated other comprehensive income (loss) |
|
|
116,569 |
|
|
(68,544 |
) |
|
|
Retained earnings |
|
|
38,227,637 |
|
|
|
42,467,837 |
|
|
Total shareholders’ equity |
|
|
58,297,091 |
|
|
|
62,268,771 |
|
|
Total liabilities and shareholders’ equity |
|
$ |
59,963,066 |
|
|
$ |
64,275,862 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20260121226719/en/
Source:
