MRAM (MRAM) financial statements
MRAM reported revenue of $55M in fiscal 2025, up 8.2% a year over 9 years.
Net income was -$586,000 and the operating margin -11.8%, against -57.3% in 2016.
Free cash flow was $3M.
The diluted share count rose 376% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MRAM's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27M | $36M | $49M | $38M | $42M | $55M | $60M | $64M | $50M | $55M |
| Cost of revenue | $12M | $14M | $24M | $19M | $24M | $22M | $26M | $27M | $24M | $27M |
| Gross profit | $15M | $21M | $25M | $18M | $18M | $33M | $34M | $37M | $26M | $28M |
| Research and development | $19M | $25M | $24M | $14M | $11M | $13M | $11M | $12M | $14M | $14M |
| Selling, general and admin | $11M | $16M | $19M | $18M | $15M | $15M | $17M | $20M | $20M | $21M |
| Operating income | -$16M | -$20M | -$17M | -$14M | -$8M | $5M | $6M | $6M | -$7M | -$7M |
| Interest expense | $2M | $764,000 | $890,000 | $747,000 | $665,000 | $547,000 | $274,000 | $63,000 | — | — |
| Pre-tax income | — | — | — | -$15M | -$8M | $4M | $6M | $9M | $741,000 | -$457,000 |
| Income tax | $0 | $0 | $0 | $0 | $260,000 | $4,000 | $14,000 | -$16,000 | -$40,000 | $129,000 |
| Net income | -$17M | -$21M | -$18M | -$15M | -$9M | $4M | $6M | $9M | $781,000 | -$586,000 |
| EPS (diluted) | -$3.53 | -$1.69 | -$1.08 | -$0.85 | -$0.45 | $0.22 | $0.29 | $0.42 | $0.04 | -$0.03 |
| Diluted shares | 5M | 12M | 16M | 17M | 19M | 20M | 21M | 21M | 22M | 23M |
| Gross margin | 54.3% | 59.8% | 51.3% | 48.9% | 43.0% | 60.0% | 56.6% | 58.4% | 51.8% | 51.2% |
| Operating margin | -57.3% | -56.2% | -35.1% | -38.4% | -18.0% | 9.1% | 10.4% | 9.2% | -14.1% | -11.8% |
| Net margin | -61.7% | -58.7% | -35.9% | -39.1% | -20.3% | 7.9% | 10.2% | 14.2% | 1.5% | -1.1% |
Balance sheet
Fiscal years, from MRAM's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $30M | $13M | $23M | $14M | $15M | $21M | $27M | $37M | $42M | $44M |
| Receivables | $3M | $4M | $8M | $6M | $8M | $8M | $11M | $12M | $12M | $8M |
| Inventory | $5M | $10M | $9M | $8M | $6M | $6M | $7M | $8M | $9M | $11M |
| Total current assets | $40M | $27M | $41M | $29M | $28M | $37M | $45M | $58M | $64M | $65M |
| Property, plant and equipment | $2M | $4M | $4M | $3M | $2M | $973,000 | $4M | $4M | $3M | $14M |
| Total assets | $41M | $31M | $45M | $35M | $33M | $39M | $55M | $67M | $78M | $85M |
| Total current liabilities | $10M | $12M | $14M | $8M | $10M | $10M | $11M | $9M | $10M | $13M |
| Long-term debt | $4M | $8M | $7M | $7M | $4M | $2M | — | — | $2M | $15,000 |
| Total liabilities | $15M | $21M | $20M | $17M | $15M | $12M | $17M | $13M | $15M | $16M |
| Shareholders' equity | $27M | $11M | $25M | $18M | $17M | $27M | $39M | $54M | $63M | $69M |
| Net debt | -$22M | -$785,000 | -$11M | -$7M | -$7M | -$17M | -$24M | -$37M | -$39M | -$43M |
Cash flow
Fiscal years, from MRAM's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$19M | -$19M | -$15M | -$8M | -$3M | $9M | $9M | $13M | $7M | $10M |
| Capital spending | $1M | $3M | $2M | $861,000 | $320,000 | $1M | $3M | $1M | $3M | $7M |
| Free cash flow | -$20M | -$22M | -$17M | -$9M | -$3M | $8M | $7M | $12M | $4M | $3M |
| Stock-based compensation | $1M | $2M | $3M | $4M | $4M | $3M | $4M | $5M | $7M | $6M |
| Net borrowing | $175,000 | $4M | $0 | -$5M | — | -$3M | -$2M | -$3M | — | — |
| Free cash flow margin | -72.3% | -61.1% | -33.6% | -23.9% | -7.7% | 15.1% | 11.2% | 18.4% | 8.0% | 5.7% |
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Open MRAM in InvestinglyQuestions
What was MRAM's revenue in 2025?
$55M in fiscal 2025, from its 10-K filing.
How much free cash flow does MRAM generate?
$3M in fiscal 2025 (operating cash flow minus capital spending).
From MRAM's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.