NVE Corporation

01/21/2026 | Press release | Distributed by Public on 01/21/2026 15:08

Quarter Ended December 31, 2025

NVE Corporation Reports Third Quarter Results and Announces Quarterly Dividend


EDEN PRAIRIE, Minn.-January 21, 2026-NVE Corporation (Nasdaq: NVEC) announced today financial results 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.

NVE CORPORATION
STATEMENTS OF INCOME
QUARTERS 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 Month 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
Net fixed assets 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
Operating lease 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 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 Public Technologies (PUBT), unedited and unaltered, on January 21, 2026 at 21:08 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]