NVE Corporation (Nasdaq: NVEC) announced today financial results for the quarter ended June 30, 2026.
Total revenue for the first quarter of fiscal 2027 increased 81% to $11.0 million from $6.10 million for the prior-year quarter. The increase was due to an 82% increase in product sales and a 53% increase in contract research and development revenue. Net income for the first quarter of fiscal 2027 increased 79% to $6.39 million, or $1.32 per diluted share, compared to $3.58 million, or $0.74 per share, for the prior-year quarter.
The company also announced a quarterly cash dividend to shareholders of $1.00 per share of common stock, payable August 31, 2026 to shareholders of record as of August 3, 2026.
“We’re pleased to report exceptional growth in revenue and earnings driven by new product sales and a strong semiconductor market,” said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D.
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 ENDED JUNE 30, 2026 AND 2025 (Unaudited) | Quarter Ended June 30, | 2026 2025 | Revenue | Product sales $ 10,734,735 $ 5,908,570 | Contract research and development 299,322 196,074 | Total revenue, net 11,034,057 6,104,644 | Cost of sales 2,066,045 1,182,523 | Gross profit 8,968,012 4,922,121 | Expenses | Research and development 946,582 720,231 | Selling, general, and administrative 755,594 418,640 | Total expenses 1,702,176 1,138,871 | Income from operations 7,265,836 3,783,250 | Interest income 449,920 498,208 | Other income - 811 | Income before taxes 7,715,756 4,282,269 | Provision for income taxes 1,321,565 706,451 | Net income $ 6,394,191 $ 3,575,818 | Net income per share – basic $ 1.32 $ 0.74 | Net income per share – diluted $ 1.32 $ 0.74 | Weighted average shares outstanding | Basic 4,837,166 4,837,166 | Diluted 4,845,744 4,838,877 |
NVE CORPORATION BALANCE SHEETS JUNE 30 AND MARCH 31, 2026 |
(Unaudited) June 30, 2026 March 31, 2026 | ASSETS | Current assets | Cash and cash equivalents $ 2,896,148 $ 1,714,040 | Marketable securities, short-term 18,875,009 18,125,060 | Accounts receivable, net of allowance for credit losses of $15,000 6,545,713 3,408,941 | Inventories, net 6,673,227 7,082,821 | Prepaid expenses and other assets 685,921 1,860,415 | Total current assets 35,676,018 32,191,277 | Fixed assets | Machinery and equipment 13,900,632 13,843,799 | Leasehold improvements 2,059,853 2,059,853 |
15,960,485 15,903,652 | Less accumulated depreciation and amortization 12,419,993 12,187,643 | Net fixed assets 3,540,492 3,716,009 | Marketable securities, long-term 22,137,350 23,678,452 | Right-of-use asset – operating lease 763,080 793,794 | Total assets $ 62,116,940 $ 60,379,532 | LIABILITIES AND SHAREHOLDERS’ EQUITY | Current liabilities | Accounts payable $ 265,953 $ 278,599 | Accrued payroll and other 1,037,155 697,611 | Operating lease 201,008 165,116 | Total current liabilities 1,504,116 1,141,326 | Deferred tax liabilities 128,217 248,284 | Long-term operating lease liability 704,817 740,423 | Total liabilities 2,337,150 2,130,033 | Shareholders’ equity | Common stock 48,372 48,372 | Additional paid-in capital 19,928,818 19,914,769 | Accumulated other comprehensive income (loss) (72,793 ) (32,010 ) | Retained earnings 39,875,393 38,318,368 | Total shareholders’ equity 59,779,790 58,249,499 | Total liabilities and shareholders’ equity $ 62,116,940 $ 60,379,532 |
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