Everspin wins $40M government contract to develop Toggle MRAM manufacturing capability

Filed April 29, 2026 · Period ending April 24, 2026 · ~1 min read

Key Changes

• high

  Everspin secured a $40 million subcontract with Amentum Services under a U.S. Navy microelectronics research program to develop domestic Toggle MRAM production capability over 30 months ending November 2028.

  Item 1.01 verify on EDGAR →
• high

  Payments are milestone-based across two phases, providing revenue visibility but dependent on achieving technical deliverables including process qualification and statistical process control.

  Item 1.01 verify on EDGAR →
• medium

  Everspin must transfer Toggle MRAM intellectual property and manufacturing know-how to the government if it exits that business line during the contract period, potentially limiting future strategic flexibility.

  Item 1.01 verify on EDGAR →