Everspin Technologies has entered into a ten‑year manufacturing agreement with Microchip Technology that will expand its on‑shore MRAM production capacity. The deal will allow Everspin to augment its existing 200‑mm fab operations in Chandler, Arizona, and to use Microchip’s 200‑mm fabrication facility in Oregon to meet growing demand for its toggle and spin‑transfer torque (STT)‑MRAM products.
The agreement marks a strategic pivot for Everspin, moving it from a niche licensing model toward a volume‑manufacturing business. By securing additional on‑shore capacity, the company can better control production timelines, reduce dependence on external foundries, and strengthen supply‑chain resilience—an increasingly important factor for aerospace, defense, and industrial customers that require ITAR‑compliant manufacturing.
Everspin will continue to manufacture in its Chandler facility while leveraging Microchip’s Oregon fab to scale output. The first products from the collaboration are expected to ship in the second half of 2027, giving the company a clear ramp‑up schedule that aligns with projected demand for STT‑MRAM as a NOR flash replacement.
Everspin’s recent financial performance underscores the timing of the expansion. In Q4 2025 the company reported revenue of $14.8 million and a non‑GAAP EPS of $0.11, exceeding analyst expectations and reflecting strong demand in its core segments. The new capacity is positioned to support continued revenue growth toward the company’s long‑term goal of $100 million in annual revenue.
Management highlighted the strategic importance of the partnership. President and CEO Sanjeev Aggarwal said, "Everspin is expanding its manufacturing footprint to support the next phase of MRAM adoption, as customers look for both long‑term supply stability and higher‑density, more capable solutions. Our partnership with Microchip adds the production scale to support demand while continuing to advance our MRAM roadmap." Senior Vice President of Microchip’s Fab Operations, Michael Finley, added, "Microchip is pleased to collaborate with Everspin and provide foundry services from its large and expandable manufacturing capacity in our Oregon Fab."
The expanded capacity positions Everspin to capture the anticipated growth in the NOR flash replacement market, where STT‑MRAM offers scalability and performance advantages. With on‑shore manufacturing, the company can better serve critical sectors such as aerospace, defense, and industrial applications, reinforcing its competitive position and supporting its long‑term growth strategy.
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