NVE CorporationNASDAQ: NVEC

NVE Corporation Reports Second Quarter Results and Announces Quarterly Dividend

· Issued by NVE Corporation via Business Wire

Summary by 6ix AI

NVE Corporation, which makes spintronic products such as sensors and couplers (technology using electron spin rather than electron charge to acquire, store and transmit information), said revenue for the quarter ended September 30, 2026, its fiscal 2027 second quarter, decreased 8% to $5.83 million from $6.35 million. It also declared a quarterly cash dividend of $1.00 per share.

Key details

  • The quarterly revenue decrease was due to a 9% decrease in product sales, partially offset by a 25% increase in contract research and development revenue.
  • Net income for the second quarter of fiscal 2027 decreased 4% to $3.17 million, or $0.65 per diluted share, from $3.31 million, or $0.68 per diluted share, in the prior-year quarter.
  • For the first six months of fiscal 2027, total revenue increased 36% to $16.9 million from $12.5 million, due to a 35% increase in product sales and a 38% increase in contract research and development revenue.
  • Net income for the first six months of fiscal 2027 increased 39% to $9.57 million, or $1.97 per diluted share, from $6.89 million, or $1.42 per diluted share, for the first half of fiscal 2026.
  • The dividend is payable November 30, 2026 to shareholders of record as of November 2, 2026.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/nve-corporation-reports-second-quarter-results-and-announces-quarterly-dividend

Watch NVE explain itNVE (NASDAQ:NVEC) Q2 2027 Earnings Call · Replay · Oct 21, 2026 · From 2:05 · Quarterly Financial Results

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--NVE Corporation (Nasdaq: NVEC) announced financial results today for the quarter ended September 30, 2026.

Total revenue for the second quarter of fiscal 2027 decreased 8% to $5.83 million from $6.35 million for the prior-year quarter. The decrease was due to a 9% decrease in product sales, partially offset by a 25% increase in contract research and development revenue. Net income for the second quarter of fiscal 2027 decreased 4% to $3.17 million, or $0.65 per diluted share, compared to $3.31 million, or $0.68 per share, for the prior-year quarter.

For the first six months of fiscal 2027, total revenue increased 36% to $16.9 million from $12.5 million for the first six months of the prior year. The increase was due to a 35% increase in product sales and a 38% increase in contract research and development revenue. Net income increased 39% to $9.57 million, or $1.97 per diluted share, from $6.89 million, or $1.42 per share, for the first half of fiscal 2026.

The company also announced a quarterly cash dividend to shareholders of $1.00 per share of common stock, payable November 30, 2026 to shareholders of record as of November 2, 2026.

“We’re pleased to report a 36% increase in revenue for the six months ended September 30, 2026, compared to the prior-year period, despite an 8% decrease in revenue for the second quarter of fiscal 2027 compared to the prior-year quarter,” said NVE President and Chief Executive Officer Peter G. Eames, PhD.

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, 2026.

 

NVE CORPORATION
STATEMENTS OF INCOME
QUARTERS AND SIX MONTHS ENDED SEPTEMBER 30, 2026 AND 2025

(Unaudited)

Quarter Ended September 30,

2026

2025

Revenue

Product sales

$

5,575,282

$

6,138,772

Contract research and development

259,420

208,220

Total revenue, net

5,834,702

6,346,992

Cost of sales

1,270,805

1,378,494

Gross profit

4,563,897

4,968,498

Expenses

Research and development

727,345

873,470

Selling, general, and administrative

630,314

436,919

Total expenses

1,357,659

1,310,389

Income from operations

3,206,238

3,658,109

Interest income

474,727

484,330

Other income

-

3,094

Income before taxes

3,680,965

4,145,533

Provision for income taxes

507,806

834,695

Net income

$

3,173,159

$

3,310,838

Net income per share – basic

$

0.66

$

0.68

Net income per share – diluted

$

0.65

$

0.68

Weighted average shares outstanding

Basic

4,842,050

4,837,166

Diluted

4,850,910

4,839,243

Six Months Ended Sept. 30,

2026

2025

Revenue

Product sales

$

16,310,017

$

12,047,342

Contract research and development

558,742

404,294

Total revenue, net

16,868,759

12,451,636

Cost of sales

3,336,850

2,561,017

Gross profit

13,531,909

9,890,619

Expenses

Research and development

1,673,927

1,593,701

Selling, general, and administrative

1,385,908

855,559

Total expenses

3,059,835

2,449,260

Income from operations

10,472,074

7,441,359

Interest income

924,647

982,538

Other income

-

3,905

Income before taxes

11,396,721

8,427,802

Provision for income taxes

1,829,371

1,541,146

Net income

$

9,567,350

$

6,886,656

Net income per share – basic

$

1.98

$

1.42

Net income per share – diluted

$

1.97

$

1.42

Weighted average shares outstanding

Basic

4,839,621

4,837,166

Diluted

4,848,187

4,839,049

NVE CORPORATION
BALANCE SHEETS
SEPTEMBER 30 AND MARCH 31, 2026

(Unaudited)

September 30,
2026

March 31,
2026

ASSETS

Current assets

Cash and cash equivalents

$

3,969,958

$

1,714,040

Marketable securities, short-term

19,678,659

18,125,060

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

3,005,928

3,408,941

Inventories, net

6,860,310

7,082,821

Prepaid expenses and other assets

1,541,483

1,860,415

Total current assets

35,056,338

32,191,277

Fixed assets

Machinery and equipment

13,925,767

13,843,799

Leasehold improvements

2,059,853

2,059,853

15,985,620

15,903,652

Less accumulated depreciation and amortization

12,652,165

12,187,643

Net fixed assets

3,333,455

3,716,009

Marketable securities, long-term

20,739,953

23,678,452

Right-of-use asset – operating lease

732,004

793,794

Total assets

$

59,861,750

$

60,379,532

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities

Accounts payable

$

252,399

$

278,599

Accrued payroll and other

751,695

697,611

Operating lease

202,612

165,116

Total current liabilities

1,206,706

1,141,326

Deferred tax liabilities

9,990

248,284

Long-term operating lease liability

668,708

740,423

Total liabilities

1,885,404

2,130,033

Shareholders’ equity

Common stock

48,441

48,372

Additional paid-in capital

20,175,512

19,914,769

Accumulated other comprehensive loss

(452,080

)

(32,010

)

Retained earnings

38,204,473

38,318,368

Total shareholders’ equity

57,976,346

58,249,499

Total liabilities and shareholders’ equity

$

59,861,750

$

60,379,532

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