NVE is a small semiconductor company that makes spintronic sensors and couplers (isolators). Spintronics is a nanotechnology that uses electron spin — rather than electron charge — to sense and transmit information. Sensors are NVE's core product: they detect the strength or direction of magnetic fields and are used for position, rotation, and speed sensing in applications like factory automation, utility meters, surgical robots, and implantable medical devices such as Abbott's pacemakers. Couplers transmit data between electrically isolated subsystems and are used in power conversion and industrial automation; NVE claims best-in-class transient immunity and isolation up to 7 kilovolts, making them suited for high-voltage applications in data centers, EV charging, and industrial power conversion. NVE also sells niche MRAM products for defense anti-tamper and cryptographic key storage, earns a small amount of revenue from government-funded contract R&D, and holds an MRAM patent portfolio it aims to monetize via licensing rather than scaled production. NVE sells through direct channels to large customers like Abbott and through distributors across more than 75 countries. Direct sales carry higher margins; distributor sales offer broader reach but compress margins. NVE targets performance-sensitive markets where size, reliability, and precision matter, explicitly avoiding commodity sensor markets. The company runs high gross and operating margins and returns significant cash to shareholders through dividends, while investing in expanded wafer fabrication and in-house chip-scale packaging capacity to support future growth.