NVE Corporation

01/21/2026 | Press release | Distributed by Public on 01/21/2026 15:04

NVE Corporation Reports Third Quarter Results and Announces Quarterly Dividend (Form 8-K)

NVE Corporation Reports Third Quarter Results and Announces Quarterly Dividend

EDEN PRAIRIE, Minn.-January 21, 2026-NVE Corporation (Nasdaq: NVEC) announced financial results today for the quarter ended December 31, 2025.

Total revenue for the third quarter of fiscal 2026 increased 23% to $6.22 million from $5.06 million for the prior-year quarter. The increase was due to a 16% increase in product sales and a 335% increase in contract research and development revenue. Net income for the third quarter of fiscal 2026 increased 11% to $3.38 million, or $0.70 per diluted share, compared to $3.05 million, or $0.63 per share, for the prior-year quarter.

For the first nine months of fiscal 2026, total revenue increased 0.4% to $18.7 million from $18.6 million for the nine months of the prior year. The increase was due to a 0.8% increase in product sales, partially offset by an 8% decrease in contract research and development revenue. Net income decreased 8% to $10.3 million, or $2.12 per diluted share, from $11.2 million, or $2.31 per share, for the first nine months of fiscal 2025.

The company also announced a quarterly cash dividend to shareholders of $1.00 per share of common stock, payable February 27, 2026 to shareholders of record as of February 2, 2026.

"We're pleased to report strong increases in revenue and earnings for the quarter, driven by broad-based growth across our revenue lines," 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, 2025, as updated in our Quarterly Report on Form 10-Q for the quarter ended December 31, 2025.

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Contact: [email protected]

NVE CORPORATION
STATEMENTS OF INCOME
QUARTERS AND NINE MONTHS ENDED DECEMBER 31, 2025 AND 2024

(Unaudited)

Quarter Ended December 31,

2025

2024

Revenue

Product sales

$

5,778,674

$

4,960,488

Contract research and development

446,102

102,557

Total revenue, net

6,224,776

5,063,045

Cost of sales

1,332,679

797,622

Gross profit

4,892,097

4,265,423

Expenses

Research and development

795,585

869,677

Selling, general, and administrative

352,136

434,783

Total expenses

1,147,721

1,304,460

Income from operations

3,744,376

2,960,963

Interest income

461,954

474,180

Other income

-

135,057

Income before taxes

4,206,330

3,570,200

Provision for income taxes

821,688

521,790

Net income

$

3,384,642

$

3,048,410

Net income per share - basic

$

0.70

$

0.63

Net income per share - diluted

$

0.70

$

0.63

Weighted average shares outstanding

Basic

4,837,166

4,835,262

Diluted

4,839,257

4,839,124

Nine Months Ended Dec. 31,

2025

2024

Revenue

Product sales

$

17,826,016

$

17,680,780

Contract research and development

850,396

924,199

Total revenue, net

18,676,412

18,604,979

Cost of sales

3,893,696

2,720,370

Gross profit

14,782,716

15,884,609

Expenses

Research and development

2,389,286

2,595,808

Selling, general, and administrative

1,207,695

1,543,428

Total expenses

3,596,981

4,139,236

Income from operations

11,185,735

11,745,373

Interest income

1,444,492

1,432,568

Other income

3,905

135,057

Income before taxes

12,634,132

13,312,998

Provision for income taxes

2,362,834

2,140,856

Net income

$

10,271,298

$

11,172,142

Net income per share - basic

$

2.12

$

2.31

Net income per share - diluted

$

2.12

$

2.31

Weighted average shares outstanding

Basic

4,837,166

4,834,382

Diluted

4,839,120

4,839,247

NVE CORPORATION
BALANCE SHEETS
DECEMBER 31 AND MARCH 31, 2025

(Unaudited)

December 31,
2025

March 31,
2025

ASSETS

Current assets

Cash and cash equivalents

$

3,408,531

$

8,036,564

Marketable securities, short-term (amortized cost of $17,137,942 as of
December 31, 2025, and $13,730,266 as of March 31, 2025)

17,156,488

13,691,593

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

2,483,045

3,589,268

Inventories, net

7,271,798

7,449,083

Prepaid expenses and other assets

756,715

433,414

Total current assets

31,076,577

33,199,922

Fixed assets

Machinery and equipment

13,834,355

11,758,205

Leasehold improvements

2,059,853

1,956,309

15,894,208

13,714,514

Less accumulated depreciation and amortization

11,996,423

11,727,615

Fixed assets, net

3,897,785

1,986,899

Deferred tax assets

722,602

1,867,069

Marketable securities, long-term (amortized cost of $23,310,800 as of
December 31, 2025, and $26,353,692 as of March 31, 2025)

23,441,471

26,304,623

Right-of-use asset - operating lease

824,631

917,349

Total assets

$

59,963,066

$

64,275,862

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities

Accounts payable

$

226,856

$

214,691

Accrued payroll and other

504,710

871,169

Operating lease

160,413

83,010

Total current liabilities

891,979

1,168,870

Long-term operating lease liability

773,996

838,221

Total liabilities

1,665,975

2,007,091

Shareholders' equity

Common stock

48,372

48,372

Additional paid-in capital

19,904,513

19,821,106

Accumulated other comprehensive income (loss)

116,569

(68,544

)

Retained earnings

38,227,637

42,467,837

Total shareholders' equity

58,297,091

62,268,771

Total liabilities and shareholders' equity

$

59,963,066

$

64,275,862

NVE Corporation published this content on January 21, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on January 21, 2026 at 21:05 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]