Everspin is a specialty semiconductor company that makes and sells Magnetoresistive Random Access Memory (MRAM) — a type of non-volatile memory that retains data when power is lost without a battery backup. Customers use MRAM in applications where data must survive a power interruption and where reliability, fast read/write speed, and long endurance are critical, including RAID controllers in data centers, industrial PLCs, automotive powertrains, and aerospace systems. Everspin sells discrete MRAM chips — physical components that OEMs and ODMs design into their products — through direct sales and distributors, reaching over 1,400 end customers globally. Product sales account for roughly 85-90% of total revenue. Everspin also earns revenue from IP licensing (including royalties from GLOBALFOUNDRIES), government-funded development contracts for radiation-hardened MRAM, and foundry services. Everspin's two main product families are Toggle MRAM, a mature line used as a drop-in replacement for legacy non-volatile memory, and STT-MRAM, a more advanced technology targeting higher-density applications including data center storage and industrial IoT. Everspin operates a hybrid manufacturing model: Toggle MRAM is produced at its own fab in Chandler, Arizona, while STT-MRAM is manufactured at GLOBALFOUNDRIES' facilities. Everspin's growth strategy focuses on expanding MRAM into NOR Flash replacement, FPGA configuration memory, LEO satellites, automotive, and edge AI applications.