NVE Corporation Reports $26.3 Million Revenue for Fiscal 2026, Net Income Increases to $15.2 Million

NVE Corporation reported a total revenue of $26.3 million for fiscal 2026, reflecting a 1.8% increase from $25.9 million in fiscal 2025. This growth was driven by a 2.4% rise in product sales, which reached $25.2 million, primarily attributed to price increases and higher purchases from existing customers. However, this was partially offset by an 11% decline in contract research and development revenue, which fell to $1.1 million due to the completion of certain contracts. The company's gross profit margin decreased to 79% from 84% in the previous year, influenced by a less profitable product mix and increased distributor sales, which typically yield lower margins.

Total expenses for NVE Corporation decreased by 15% to $4.8 million in fiscal 2026, down from $5.6 million in fiscal 2025. This reduction was largely due to a 13% decrease in research and development expenses, which fell to $3.2 million, and an 18% decline in selling, general, and administrative expenses, which totaled $1.7 million. The decrease in research and development costs was linked to the completion of wafer-level chip scale packaging activities and a reallocation of resources towards manufacturing. The company also reported a net income of $15.2 million, a slight increase of 1% from $15.1 million in the prior year, attributed to higher revenue, lower expenses, and a reduced tax burden.

In terms of liquidity, NVE's cash and cash equivalents decreased significantly to $1.7 million as of March 31, 2026, from $8.0 million a year earlier. This decline was primarily due to $19.3 million used in financing activities, including cash dividends paid to shareholders, and $3.6 million in net cash used for investing activities. However, net cash provided by operating activities increased to $16.7 million from $14.3 million, indicating a strong operational performance. The company’s total assets were reported at $60.4 million, down from $64.3 million in the previous fiscal year.

NVE Corporation continues to focus on strategic developments, including the completion of its expansion, which is expected to lead to a significant decrease in manufacturing equipment purchases in fiscal 2027. The company declared a quarterly cash dividend of $1.00 per share, amounting to approximately $4.8 million, to be paid on May 29, 2026. This dividend will be funded through cash generated from operating activities and proceeds from marketable securities. Looking ahead, NVE anticipates a reduction in advanced manufacturing investment tax credits, which may impact future financial performance. The company remains committed to maintaining effective internal controls and has reported no significant changes in its financial reporting processes.