NVEC NVE Corp.

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NVE Reported Earnings

Wednesday, October 21, 2026 · 4:15 PM ET

NVE (NVEC) reported earnings of $0.65 per share on revenue of $5.84 million for the . . Revenue fell 8.07% compared to the same quarter a year ago.

NVE Corp develops and sells devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store and transmit information.

Earnings Whisper Grade —
Power Rating—
Reported Earnings
$0.65
Earnings Whisper®
—
Consensus Estimate
—
Earnings Surprise
Earnings Growth-4.4 %
Reported Revenue
$5.84M
Revenue Estimate
—
Revenue Surprise
Revenue Growth-8.1 %

NVE Corporation Reports Second Quarter Results and Announces Quarterly Dividend

Wednesday, October 21, 2026 · 4:15 PM ET Business Wire

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--NVE Corporation (Nasdaq: NVEC) announced financial results today for the quarter ended September 30, 2026.

Total revenue for the second quarter of fiscal 2027 decreased 8% to $5.83 million from $6.35 million for the prior-year quarter. The decrease was due to a 9% decrease in product sales, partially offset by a 25% increase in contract research and development revenue. Net income for the second quarter of fiscal 2027 decreased 4% to $3.17 million, or $0.65 per diluted share, compared to $3.31 million, or $0.68 per share, for the prior-year quarter.

For the first six months of fiscal 2027, total revenue increased 36% to $16.9 million from $12.5 million for the first six months of the prior year. The increase was due to a 35% increase in product sales and a 38% increase in contract research and development revenue. Net income increased 39% to $9.57 million, or $1.97 per diluted share, from $6.89 million, or $1.42 per share, for the first half of fiscal 2026.

The company also announced a quarterly cash dividend to shareholders of $1.00 per share of common stock, payable November 30, 2026 to shareholders of record as of November 2, 2026.

“We’re pleased to report a 36% increase in revenue for the six months ended September 30, 2026, compared to the prior-year period, despite an 8% decrease in revenue for the second quarter of fiscal 2027 compared to the prior-year quarter,” said NVE President and Chief Executive Officer Peter G. Eames, PhD.

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 SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2026.

 

NVE CORPORATION
STATEMENTS OF INCOME
QUARTERS AND SIX MONTHS ENDED SEPTEMBER 30, 2026 AND 2025

(Unaudited)

 

Quarter Ended September 30,

2026

 

2025

Revenue

Product sales

$

5,575,282

$

6,138,772

Contract research and development

 

259,420

 

 

208,220

 

Total revenue, net

 

5,834,702

 

6,346,992

Cost of sales

 

1,270,805

 

 

1,378,494

 

Gross profit

 

4,563,897

 

4,968,498

Expenses

 

 

 

 

 

 

 

Research and development

 

727,345

 

873,470

Selling, general, and administrative

 

630,314

 

 

436,919

 

Total expenses

 

1,357,659

 

 

1,310,389

 

Income from operations

 

3,206,238

 

3,658,109

Interest income

 

474,727

 

 

484,330

 

Other income

 

-

 

 

 

3,094

 

Income before taxes

 

3,680,965

 

4,145,533

Provision for income taxes

 

507,806

 

 

834,695

 

Net income

$

3,173,159

 

$

3,310,838

 

Net income per share – basic

$

0.66

 

$

0.68

 

Net income per share – diluted

$

0.65

 

$

0.68

 

Weighted average shares outstanding

 

 

 

 

 

Basic

 

4,842,050

 

 

 

4,837,166

 

Diluted

 

4,850,910

 

 

 

4,839,243

 

 

Six Months Ended Sept. 30,

2026

 

2025

Revenue

Product sales

$

16,310,017

$

12,047,342

Contract research and development

 

558,742

 

 

404,294

 

Total revenue, net

 

16,868,759

 

12,451,636

Cost of sales

 

3,336,850

 

 

2,561,017

 

Gross profit

 

13,531,909

 

9,890,619

Expenses

 

 

 

 

 

 

 

Research and development

 

1,673,927

 

1,593,701

Selling, general, and administrative

 

1,385,908

 

 

855,559

 

Total expenses

 

3,059,835

 

 

2,449,260

 

Income from operations

 

10,472,074

 

7,441,359

Interest income

 

924,647

 

 

982,538

 

Other income

 

-

 

 

 

3,905

 

Income before taxes

 

11,396,721

 

8,427,802

Provision for income taxes

 

1,829,371

 

 

1,541,146

 

Net income

$

9,567,350

 

$

6,886,656

 

Net income per share – basic

$

1.98

 

$

1.42

 

Net income per share – diluted

$

1.97

 

$

1.42

 

Weighted average shares outstanding

 

 

Basic

4,839,621

 

 

4,837,166

Diluted

4,848,187

4,839,049

 

NVE CORPORATION
BALANCE SHEETS
SEPTEMBER 30 AND MARCH 31, 2026

 

 

 

(Unaudited)

September 30,
2026

 

 

March 31,
2026

 

ASSETS

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

3,969,958

 

 

$

1,714,040

 

Marketable securities, short-term

 

 

19,678,659

 

 

 

18,125,060

 

Accounts receivable, net of allowance for credit losses of $15,000

 

 

3,005,928

 

 

 

3,408,941

 

Inventories, net

 

 

6,860,310

 

 

 

7,082,821

 

Prepaid expenses and other assets

 

 

1,541,483

 

 

 

1,860,415

 

Total current assets

 

 

35,056,338

 

 

 

32,191,277

 

Fixed assets

 

 

 

 

 

 

 

 

Machinery and equipment

 

 

13,925,767

 

 

 

13,843,799

 

Leasehold improvements

 

 

2,059,853

 

 

 

2,059,853

 

 

 

 

15,985,620

 

 

 

15,903,652

 

Less accumulated depreciation and amortization

 

 

12,652,165

 

 

 

12,187,643

 

Net fixed assets

 

 

3,333,455

 

 

 

3,716,009

 

Marketable securities, long-term

 

 

20,739,953

 

 

 

23,678,452

 

Right-of-use asset – operating lease

 

 

732,004

 

 

 

793,794

 

Total assets

 

$

59,861,750

 

 

$

60,379,532

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

$

252,399

 

 

$

278,599

 

Accrued payroll and other

 

 

751,695

 

 

 

697,611

 

Operating lease

 

 

202,612

 

 

 

165,116

 

Total current liabilities

 

 

1,206,706

 

 

 

1,141,326

 

Deferred tax liabilities

 

 

9,990

 

 

 

248,284

 

Long-term operating lease liability

 

 

668,708

 

 

 

740,423

 

Total liabilities

 

 

1,885,404

 

 

 

2,130,033

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity

 

 

 

 

 

 

 

 

Common stock

 

 

48,441

 

 

 

48,372

 

Additional paid-in capital

 

 

20,175,512

 

 

 

19,914,769

 

Accumulated other comprehensive loss

 

 

(452,080

)

 

 

(32,010

)

Retained earnings

 

 

38,204,473

 

 

 

38,318,368

 

Total shareholders’ equity

 

 

57,976,346

 

 

 

58,249,499

 

Total liabilities and shareholders’ equity

 

$

59,861,750

 

 

$

60,379,532

 

 

Contact: investor@nve.com

Source: NVE Corporation