NVEC NVE Corp.

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

Wednesday, May 6, 2026 · 4:05 PM ET Business Wire

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--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 AND YEARS 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, 2026 AND 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

 

 

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

 

Total current liabilities

 

 

1,141,326

 

 

 

1,168,870

 

Deferred tax liabilities

 

 

248,284

 

 

 

-

 

Long-term operating lease liability

 

 

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

 

 

investor@nve.com

Source: NVE Corporation

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