NVE Corporation

05/06/2026 | Press release | Distributed by Public on 05/06/2026 14:12

Quarter and Fiscal Year Ended March 31, 2026

NVE Corporation Reports Fourth Quarter and Fiscal Year Results and Announces Quarterly Dividend


EDEN PRAIRIE, Minn.-May 6, 2026-NVE Corporation (Nasdaq: NVEC) announced today financial results for the quarter and fiscal year ended March 31, 2026.

Total revenue for the fourth quarter of fiscal 2026 increased 5% to $7.65 million from $7.27 million for the prior-year quarter. The increase was due to a 6% increase in product sales, partially offset by a 19% decrease in contract research and development revenue. Net income for the fourth quarter of fiscal 2026 increased 27% to $4.93 million, or $1.02 per diluted share, compared to $3.89 million, or $0.80 per share, for the prior-year quarter.

For fiscal 2026, total revenue increased 1.8% to $26.3 million, compared to $25.9 million in the prior year. The increase was due to a 2.4% increase in product sales, partially offset by an 11% decrease in contract research and development revenue. Net income for fiscal 2026 increased 1% to $15.2 million, or $3.14 per diluted share, from $15.1 million, or $3.11 per share, for fiscal 2025.

The company also announced a quarterly cash dividend to shareholders of $1.00 per share of common stock, payable May 29, 2026 to shareholders of record as of May 18, 2026.

"We're pleased to report strong revenue and earnings growth for the second consecutive quarter," 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, 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 MARCH 31, 2026 AND 2025
Quarter Ended March 31,
2026 2025
Revenue

Product sales

$ 7,395,903 $ 6,951,322

Contract research and development

258,903 318,393
Total revenue, net 7,654,806 7,269,715
Cost of sales 1,705,758 1,515,410
Gross profit 5,949,048 5,754,305
Expenses

Research and development

771,197 1,039,711

Selling, general, and administrative

443,095 465,818
Total expenses 1,214,292 1,505,529
Income from operations 4,734,756 4,248,776
Interest income 447,433 476,650
Other income - 313
Income before taxes 5,182,189 4,725,739
Provision for income taxes 254,292 833,365
Net income $ 4,927,897 $ 3,892,374
Net income per share - basic $ 1.02 $ 0.80
Net income per share - diluted $ 1.02 $ 0.80
Weighted average shares outstanding

Basic

4,837,166 4,837,166

Diluted

4,839,328 4,839,194
Year Ended March 31,
2026 2025
Revenue
Product sales $ 25,221,918 $ 24,632,102
Contract research and development 1,109,300 1,242,592
Total revenue, net 26,331,218 25,874,694
Cost of sales 5,599,454 4,235,780
Gross profit 20,731,764 21,638,914
Expenses

Research and development

3,160,483 3,635,519

Selling, general, and administrative

1,650,790 2,009,246
Total expenses 4,811,273 5,644,765
Income from operations 15,920,491 15,994,149
Interest income 1,891,925 1,909,218
Other income 3,905 135,370
Income before taxes 17,816,321 18,038,737
Provision for income taxes 2,617,126 2,974,221
Net income $ 15,199,195 $ 15,064,516
Net income per share - basic $ 3.14 $ 3.12
Net income per share - diluted $ 3.14 $ 3.11
Weighted average shares outstanding
Basic 4,837,166 4,835,069
Diluted 4,839,169 4,839,154

NVE CORPORATION
BALANCE SHEETS
MARCH 31 AND 31, 2025
March 31, 2026 March 31, 2025
ASSETS

Current assets

Cash and cash equivalents

$ 1,714,040 $ 8,036,564

Marketable securities, short-term

(amortized cost of $18,118,460 as of March 31, 2026, and $13,730,266 as of March 31, 2025)

18,125,060 13,691,593

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

3,408,941 3,589,268

Inventories, net

7,082,821 7,449,083

Prepaid expenses and other assets

1,860,415 433,414
Total current assets 32,191,277 33,199,922
Fixed assets

Machinery and equipment

13,843,799 11,758,205

Leasehold improvements

2,059,853 1,956,309
15,903,652 13,714,514

Less accumulated depreciation and amortization

12,187,643 11,727,615
Net fixed assets 3,716,009 1,986,899
Deferred tax assets - 1,867,069
Marketable securities, long-term

(amortized cost of $23,726,027 as of March 31, 2026, and $26,353,692 as of March 31, 2025)

23,678,452 26,304,623
Right-of-use asset - operating lease 793,794 917,349
Total assets $ 60,379,532 $ 64,275,862
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities

Accounts payable

$ 278,599 $ 214,691

Accrued payroll and other

697,611 871,169

Operating lease

165,116 83,010
Deferred tax liabilities 248,284
Total current liabilities 1,141,326 1,168,870
Operating lease 740,423 838,221
Total liabilities 2,130,033 2,007,091
Shareholders' equity

Common stock

48,372 48,372

Additional paid-in capital

19,914,769 19,821,106

Accumulated other comprehensive loss

(32,010 ) (68,544 )

Retained earnings

38,318,368 42,467,837
Total shareholders' equity 58,249,499 62,268,771
Total liabilities and shareholders' equity $ 60,379,532 $ 64,275,862
NVE Corporation published this content on May 06, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 06, 2026 at 20:13 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]