$MRAM confused... more people should be bullish... FY2025 revenue was $55.2 million, up 10% from $50 million in 2024, with a small net loss of $0.6 million. Q1 2026 revenue came in around $14.9 million, ahead of estimates. Q2 2026 was the standout: revenue of $18.7 million, up 42% YOY and a company record, with gross margin expanding to 53.9%. Management pointed to industrial automation, energy management, and aerospace/defense demand, plus the first non-product revenue recognized from a new $40 million U.S. government subcontract. GAAP net loss was still $3.6 million for the quarter, but non-GAAP net income was positive at $2.9 million. Q3 2026 guidance calls for $19.5-20.5 million in revenue with non-GAAP EPS of $0.10-0.15. The balance sheet is a genuine strength: $43.9 mil
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