Everspin Technologies Announces Major On-Shore Manufacturing Agreement with Microchip Technology

Chandler, AZ, April 8, 2026 – Everspin Technologies, Inc. (NASDAQ: MRAM), a global leader in Magnetoresistive Random Access Memory (MRAM) solutions, has taken a significant step to expand its manufacturing capacity and supply chain resilience. The company has entered into a comprehensive ten-year Foundry Services Agreement with Microchip Technology, a move designed to solidify Everspin’s position as a premier provider of persistent memory for mission-critical applications.

Key Highlights of the Agreement

• Long-Term Manufacturing Partnership: Under the agreement, Microchip Technology will manufacture 8-inch MRAM, Tunnel Magnetoresistive (TMR) sensor, and Spin-transfer Torque (STT) MRAM wafers for Everspin at Microchip’s Fab 4 facility in Gresham, Oregon.
• Ten-Year Initial Term, Automatic Renewals: The contract begins with a ten-year term and will automatically renew for additional two-year periods unless either party gives at least two years’ notice of intent not to renew.
• Minimum Purchase Commitments: Everspin is committed to minimum wafer purchases, ramping up to a maximum of 1,300 wafers per quarter over time. If the company fails to meet these minimums, it must pay Microchip the shortfall in cash within 45 days after the end of the quarter.
• Intellectual Property & Non-Compete Protections: Both companies will have cross-licenses under foreground intellectual property for their respective fields of use. During the term of the agreement—and for two years after its expiration—Microchip is restricted from manufacturing devices with TMR elements/stacks for Everspin’s competitors or disclosing related manufacturing know-how to them. However, Microchip is permitted to purchase TMR elements/stacks from third parties as long as no Everspin confidential information or IP is used.
• On-Shore, Second Source Manufacturing: This deal ensures Everspin has a reliable, on-shore second source for MRAM and TMR sensor products, enhancing long-term supply chain security and resilience.

Significance for Shareholders and Potential Share Price Impact

• Scalable On-Shore Capacity: The agreement substantially increases Everspin’s wafer capacity, supporting its growth plans and enabling continuity of supply for customers well into the next decade.
• Supply Chain Resilience: With geopolitical risks and global supply chain disruptions remaining a concern for semiconductor companies, Everspin’s commitment to on-shore manufacturing with a trusted U.S.-based partner provides a strategic advantage that could attract new customers and boost investor confidence.
• Potential Revenue Growth: The minimum purchase commitments and ability to scale up production create a foundation for predictable revenue growth, with the potential for upside if demand for MRAM technology accelerates in industrial, data center, automotive, aerospace, and other mission-critical markets.
• R&D and Next-Generation Innovation: The agreement also supports Everspin’s ongoing R&D programs, which are aimed at advancing MRAM capabilities for future use cases and workloads. This could position Everspin to capture emerging opportunities as non-volatile memory solutions become increasingly important in AI, automotive, and industrial applications.
• Price-Sensitive Triggers: The combination of long-term supply security, capacity expansion, and minimum purchase commitments may be viewed favorably by investors, potentially impacting MRAM share prices. The contract’s structure also mitigates downside risk by establishing clear financial arrangements in case of demand fluctuations.

Additional Information

A copy of the full agreement will be filed as an exhibit to Everspin’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2026. The company has also issued a press release, which further details the significance of the partnership and its benefits to Everspin’s customers and investors.

About Everspin Technologies

Everspin Technologies, Inc. is the world’s leading provider of MRAM, supplying robust and high-performance non-volatile memory to a broad customer base in industrial, data center, automotive, aerospace, and other sectors where data persistence is critical. Headquartered in Chandler, Arizona, Everspin is committed to innovation and supply chain excellence.

Forward-Looking Statements Disclaimer

This article contains forward-looking statements, including expectations regarding Everspin’s business plans, supply chain strategy, and potential financial performance. These statements are subject to risks and uncertainties, including but not limited to market demand, global economic conditions, and risks outlined in Everspin’s filings with the Securities and Exchange Commission. Actual results may differ materially. Everspin undertakes no obligation to update forward-looking statements except as required by law.

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