NVE Corporation develops and sells spintronics-based devices, utilizing electron spin technology for industrial, medical, data transmission, and energy markets.

# Company Summary: NVE Corporation

## Business Overview
NVE Corporation develops and sells **spintronics-based devices**, a form of nanotechnology that operates by manipulating **electron spin** rather than electron charge to acquire, store, and transmit information.

## Core Technologies & Products
- **Spintronic technology** based on **giant magnetoresistance (GMR)** and **tunneling magnetoresistance (TMR)** structures.
- **Electronics** that enable **magnetic sensors**, **couplers**, **memory devices (MRAM)**, and **power conversion products**.
- These products serve a variety of markets including **industrial automation**, **medical devices**, **data transmission**, and **energy conversion**.

## Product Types & Markets
- **Sensors**: Detect magnetic fields for position, speed, and medical device applications with advantages in size, sensitivity, and reliability.
  - Standard sensors targeting **factory automation** in the **Industrial Internet of Things (IIoT)**.
  - Custom sensors for **medical devices** (e.g., replacing electromechanical switches).
- **Couplers**: Transmit data and electrically isolate systems, used in factory automation and power conversion.
- **Power products**: Voltage regulators, DC-DC converters, energy transmission devices.
- **MRAM (Magnetoresistive RAM)**: Stores data using electron spin, with applications in **tamper prevention**, **industrial** and **military storage**.

## Manufacturing & Operations
- Owns **U.S. wafer fabrication facilities** for spintronic structures, unlike competitors outsourcing.
- Produces wafers, tests at wafer-level, and packages in die form or wafer-scale chip-scale packages.
- Largest facility located at **11409 Valley View Road, Eden Prairie, Minnesota** (21,362 sq ft), leased through May 2031.
- ISO 9001:2015 certified.

## Customers & Revenue
- Relies on **distributors in over 75 countries**.
- Major customers include **Abbott Laboratories** and other large device manufacturers.
- As of March 31, 2025:
  - **Number of shareholders**: 49 record holders and several thousand beneficial owners.
  - **Revenue for FY2025**: ~$25.87 million, a 13% decrease from FY2024.
  - **Net income for FY2025**: ~$15.06 million, a 12% decrease from FY2024.
  - **Employees**: 42 total employees (41 full-time).
  - **Market value of stock**: Approximately **$265 million** based on stock price at September 30, 2024.
  - **Shares outstanding**: 4,837,166 as of March 31, 2025.

## Financial Highlights
- Gross profit margin increased to **84%** for FY2025.
- Operating expenses rose, especially R&D, due to new product development.
- Paid **dividends** of approximately **$19.34 million** in FY2025.
- Plan to increase fixed asset investments in FY2026 to expand production capacity.

## Strategic Focus
- Broaden sensor and coupler product lines.
- Develop next-generation high-sensitivity sensors and MRAM for specialized applications.
- Maintain in-house U.S. production capabilities for spintronic wafers and testing.

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*Note:* Data provided is strictly based on the given 10-K filings, including company operations, financials, products, customer base, and personnel details.

NVE Corporation specializes in developing and selling advanced spintronic devices, including magnetic sensors, couplers, and magnetoresistive RAM, aimed at various sectors such as industrial automation and military applications.

# NVE Corporation Overview

## Business Focus
NVE Corporation specializes in developing and selling devices that leverage **spintronics**, a form of nanotechnology that relies on the electron spin rather than electron charge to acquire, store, and transmit information. Among its high-performance products, the company focuses primarily on:

- **Magnetic Sensors**: Used for detecting magnetic field strength or gradients to determine position or speed in applications such as robotics and medical devices.
- **Couplers**: Employed in factory automation for high-speed data transmission between electronic subsystems, thus facilitating the Industrial Internet of Things (IIoT).
- **Magnetoresistive Random Access Memory (MRAM)**: A type of memory that utilizes spintronics, which has applications in various sectors, including military and industrial systems.

## Key Metrics
- **Employees**: As of March 31, 2024, NVE employed **54** people.
- **Revenue**: For fiscal year 2024, NVE reported total revenue of **$29.8 million**, a **22%** decrease from **$38.3 million** in fiscal year 2023.
  - **Product Sales**: Contributed **$29.2 million** (98% of total revenue) in 2024, down from **$37.2 million** in 2023.
  - **Contract Research and Development**: Generated **$586,116** in 2024, a significant drop from **$1.06 million** in 2023.
- **Net Income**: In fiscal year 2024, NVE reported a net income of **$17.1 million**, which is a **25%** decrease compared to **$22.7 million** in fiscal year 2023.

## Customer Base
NVE maintains relationships with several large customers, including key players like **Abbott Laboratories** and **Sonova AG**. The company relies heavily on a small number of significant customers for a substantial percentage of its revenue, which makes it sensitive to the loss of any major client.

## Product Development and Innovation
NVE is committed to enhancing its product offerings, emphasizing innovation in areas such as:
- Development of **next-generation sensors** for various applications, including medical devices.
- Creation of **integrated products** combining couplers with isolated DC-to-DC converters.
- Expansion of MRAM technology tailored for security applications.

## Market and Capital Strategy
- NVE believes in broadening its sensor and coupler product lines, intending to attract a larger share of the growing automation and IoT markets.
- The company has a robust financial strategy, maintaining most of its investments in **high-quality marketable securities** and managing operational expenses efficiently.

## Summary
NVE Corporation is a pioneering company in the field of spintronics, focusing on the development of advanced magnetic sensors, couplers, and MRAM technology. With a dedicated workforce, a diverse client base, and an emphasis on innovation, NVE seeks to enhance its market position amidst the evolving landscape of the electronics industry. The recent financial metrics indicate challenges but also highlight opportunities for recovery and growth in subsequent fiscal periods.

NVE CORP /NEW/

10-K / May 7, 2025

10-K / May 1, 2024

10-K / May 7, 2025

Company Summary: NVE Corporation

Business Overview

Core Technologies & Products

Product Types & Markets

Manufacturing & Operations

Customers & Revenue

Financial Highlights

Strategic Focus