Nve revenue jumps 81% as product sales accelerate
The company reported net income of $6.39 million for the first quarter of fiscal 2027.
Nve (NVEC), the biotechnology firm, reported a sharp increase in first-quarter revenue that reversed a year of stagnant and declining growth.
The results marked a significant inflection in the company's trajectory. Total revenue rose 81% year-over-year to $11.0 million. This growth accelerated from the 5% increase reported in the prior quarter and followed a 10% decline in the first quarter of fiscal 2026.
Net income rose 79% year-over-year to $6.39 million. The pace of profit growth accelerated from a 27% increase in the fourth quarter of fiscal 2026 and reversed a 13% decline seen in the same period a year prior.
The growth was driven primarily by product sales, which grew 82% year-over-year. This followed a period of volatility where product sales grew 6% in the prior quarter and declined 11% in the first quarter of fiscal 2026.
Contract research and development revenue also contributed to the result, increasing 53% year-over-year. The gain reversed a 19% decrease reported in the fourth quarter of fiscal 2026.
Profitability improved alongside the volume growth. Gross margin expanded to 81.4%, with the company recording $8.97 million in profit on $11.03 million in revenue. In the first quarter of fiscal 2026, the margin was 80.6%, with $4.92 million in profit on $6.10 million in revenue.
Sequential performance showed a continued upward trend. Revenue increased 43.8% from $7.65 million in the fourth quarter of fiscal 2026 to $11.03 million in the current quarter.