NVE Corporation reported significant financial growth for the quarter ended June 30, 2026, with total revenue reaching $11.03 million, an increase of 81% compared to $6.10 million in the same quarter of the previous year. This surge was primarily driven by an 82% rise in product sales, which accounted for 97.3% of total revenue, alongside a 53% increase in contract research and development revenue. The company's net income also saw a substantial increase of 79%, rising to $6.39 million from $3.58 million year-over-year, resulting in a net income per share of $1.32, up from $0.74.
The financial performance reflects a notable shift in operational dynamics, with total operating expenses increasing by 50% to $1.70 million, influenced by a 31% rise in research and development expenses and an 81% increase in selling, general, and administrative expenses. The latter was largely attributed to heightened performance-based compensation. Despite the increase in expenses, the company's income from operations grew by 92% to $7.27 million, indicating effective management of operational costs relative to revenue growth.
NVE's operational metrics also showed positive trends, with cash and cash equivalents increasing to $2.90 million as of June 30, 2026, compared to $1.71 million at the end of the previous fiscal year. The company reported a decrease in inventories, which fell to $6.67 million from $7.08 million, reflecting increased sales activity. Additionally, the company maintained a consistent employee headcount of 4,837, indicating stability in its workforce amid growth initiatives.
Looking ahead, NVE Corporation has declared a quarterly cash dividend of $1.00 per share, to be paid on August 31, 2026, signaling confidence in its financial health and commitment to returning value to shareholders. The company plans to fund future dividends through cash generated from operations and proceeds from marketable securities. Management remains optimistic about continued growth, driven by advancements in product development and expanding market opportunities, while also acknowledging potential risks related to reliance on key customers and market conditions.
About NVE CORP /NEW/
NVE Corporation develops and sells spintronics-based devices, including sensors, couplers, and MRAM memory products. Its high-performance magnetic sensors serve industrial, medical, and automation markets, offering smaller, more precise, and reliable solutions. The company designs its own manufacturing processes, distributes globally through partners, and holds extensive intellectual property. Its core value lies in innovative, low-power data acquisition, transmission, and storage technologies.
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