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

Published: 2026-05-06 16:10:05 ET NVEC

Published on 05/06/2026 at 04:10 pm EDT

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

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

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

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