Earnings release
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http://A V1CIQSHMP201:8080/CIQDotNet/Filings/DownloadSECResource.axd?versionId=-1353037568&res=Picture+1 NVE Corporation Reports Third Quarter Results and Announces Quarterly Dividend EDEN PRAIRIE, Minn.—January 21, 2026—NVE Corporation (Nasdaq: NVEC) announced financial results today 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. ### Contact: investor@nve.com
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NVE CORPORATION STATEMENTS OF INCOME QUARTERS AND NINE MONTHS 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 Months 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
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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 Fixed assets, net 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 Long-term operating lease liability 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 income (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