UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-12196 NVE CORPORATION (Exact name of registrant as specified in its charter) Minnesota 41-1424202 (State or other jurisdict ...

Core Viewpoint - NVE Corporation reported a decline in total revenue and net income for the second quarter and the first half of fiscal 2025, primarily due to decreased product sales, although there was a significant increase in contract research and development revenue [1][2]. Financial Performance - Total revenue for Q2 fiscal 2025 decreased by 5% to $6.76 million from $7.13 million in the same quarter of the previous year, driven by a 14% decrease in product sales, partially offset by a 3,950% increase in contract research and development revenue [1]. - For the first six months of fiscal 2025, total revenue decreased by 15% to $13.5 million from $16.0 million in the prior year, with a 20% decrease in product sales and a 457% increase in contract research and development revenue [2]. - Net income for Q2 fiscal 2025 decreased by 15% to $4.03 million, or $0.83 per diluted share, compared to $4.72 million, or $0.98 per share, in the prior-year quarter [1][6]. - Net income for the first half of fiscal 2025 decreased by 11% to $8.12 million, or $1.68 per diluted share, from $9.13 million, or $1.89 per share, in the first half of fiscal 2024 [2][7]. Dividend Announcement - The company declared a quarterly cash dividend of $1.00 per share of common stock, payable on November 29, 2024, to shareholders of record as of November 4, 2024 [2]. Business Overview - NVE Corporation is a leader in the commercialization of spintronics, a nanotechnology that utilizes electron spin for data acquisition, storage, and transmission [3]. - The company manufactures high-performance spintronic products, including sensors and couplers used for data transmission [3]. Revenue Breakdown - For Q2 fiscal 2025, product sales were $6.10 million, down from $7.12 million in the prior year, while contract research and development revenue rose to $654,257 from $16,154 [4]. - For the first six months of fiscal 2025, product sales were $12.72 million, down from $15.82 million, while contract research and development revenue increased to $821,642 from $147,476 [7]. Expense and Profit Analysis - Total expenses for Q2 fiscal 2025 were $1.42 million, compared to $914,067 in the prior year, with research and development expenses increasing to $847,603 from $683,208 [4]. - Gross profit for Q2 fiscal 2025 was $5.81 million, compared to $5.53 million in the prior year [4]. - For the first half of fiscal 2025, total expenses were $2.83 million, up from $2.30 million in the previous year [7]. Balance Sheet Highlights - As of September 30, 2024, total assets were $65.88 million, a decrease from $66.78 million as of March 31, 2024 [8][9]. - Total liabilities were $1.02 million, down from $1.21 million in the previous year [9]. - Shareholders' equity was $64.86 million, compared to $65.57 million in the prior year [9].

EDEN PRAIRIE, Minn., Oct. 16, 2024 (GLOBE NEWSWIRE) -- NVE Corporation (Nasdaq: NVEC) announced that it plans to release its financial results for the quarter ended September 30, 2024 on Wednesday, October 23, 2024 after the close of the Nasdaq Regular Market. The company will hold its quarterly conference call later that day at 4:00 p.m. Central Time. The quarterly call will be webcast live in a listen-only mode through the Investor Events page of NVE's Website (www.nve.com). An archive of the call will al ...

NVE Corporation's (NVEC) first-quarter fiscal 2025 results reflect a strategic approach to navigating a challenging industry environment. Despite facing declines in product sales and total revenues, the company demonstrated strong cost management and continued investment in research and development. This balanced strategy underscores NVE's commitment to innovation and shareholder value, as reflected in its consistent dividend payments and financial resilience. Q1 Results NVE Corp reported first-quarter fisc ...

NVE Corporation (NASDAQ:NVEC) Q1 2025 Earnings Conference Call July 17, 2024 5:00 PM ET Company Participants Daniel Baker - President and Chief Executive Officer Daniel Nelson - Controller and Principal Financial Officer Conference Call Participants Jeffrey Bernstein - Silverberg Bernstein Capital Management Daniel Baker Good afternoon and welcome to the NVE Corporation Conference Call for the Quarter Ended June 30th, 2024. I'm Dan Baker, NVE's President and CEO. I'm joined by Controller and Principal Finan ...

Revenue Performance - Total revenue for the quarter ended June 30, 2024, decreased by 23% compared to the same quarter in 2023, primarily due to a 24% decrease in product sales [52]. - Contract research and development revenue increased by 28% due to new contracts, partially offsetting the decline in product sales [52]. Profitability - Gross margin percentage improved to 86% in the first quarter of fiscal 2025, up from 77% in the prior-year quarter, attributed to a more profitable product mix [53]. - The effective tax rate decreased to 16% for the first quarter of fiscal 2025, down from 24% in the prior-year quarter, due to changes in federal tax credits and deductions [55]. Expenses - Research and development expenses rose by 26% due to increased new product development activities [54]. Cash Flow and Liquidity - Net cash provided by operating activities increased by 16% to $5,852,392 for the first quarter of fiscal 2025 compared to $5,025,302 for the same quarter in fiscal 2024 [58]. - Cash and cash equivalents decreased by $4,278,058 to $6,005,492 as of June 30, 2024, primarily due to cash used in financing and investing activities [57]. Investments - Fixed asset purchases included a $916,634 down payment on production equipment expected to be delivered in fiscal 2026, with plans to significantly increase fixed asset purchases in fiscal 2025 and 2026 [60]. Dividends - A cash dividend of $1.00 per share was declared, totaling $4,833,676 based on shares outstanding as of June 30, 2024, to be paid on August 30, 2024 [61]. Interest Income - Interest income increased by 13% due to higher yields on securities purchased after June 30, 2023 [55].

EDEN PRAIRIE, Minn., July 17, 2024 (GLOBE NEWSWIRE) -- NVE Corporation (Nasdaq: NVEC) announced today financial results for the quarter ended June 30, 2024. The company also announced a quarterly cash dividend to shareholders of $1.00 per share of common stock, payable August 30, 2024, to shareholders of record as of July 29, 2024. 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 infor ...

The quarterly call will be webcast live in a listen-only mode through the Investor Events page of NVE's Website (www.nve.com). An archive of the call will also be available on NVE's Website. Statements we use that relate to future plans, events, financial results or performance are forwardlooking statements that are subject to certain risks and uncertainties including, among others, the risk factors listed from time to time in our filings with the SEC, including our Annual Report on Form 10-K and other repo ...

Zacks Investment Research has recently initiated the coverage of NVE Corporation (NVEC) with a "Neutral" recommendation. The initiation comes as NVE Corp faces a challenging yet promising landscape, marked by significant developments in its financial performance, strategic investments and market positioning. NVE Corp stands out with its impressive dividend yield. The company recently declared a quarterly cash dividend of $1 per share, reflecting a strong commitment to returning value to shareholders. The co ...

NVE Corporation (NASDAQ:NVEC) Q4 2024 Earnings Conference Call May 1, 2024 5:00 PM ET Company Participants Daniel Baker - President and Chief Executive Officer Daniel Nelson - Accounting Manager and Principal Financial Officer Conference Call Participants Jeffrey Bernstein - Silverberg Bernstein Capital Management Operator Good day and thank you for standing by. Welcome to the NVE Corporation Conference Call on Fourth Quarter Results. At this time, all participants are in a listen-only mode. After the speak ...