The niche MRAM chip manufacturer reported record revenue of $18.7 million last quarter, up 42% year-over-year, but posted a net loss of $3.6 million ($0.15 per share) due to $4 million in legal fees from a patent infringement lawsuit. The company also secured a multi-year $40 million chip contract from a U.S. defense program and formed a strategic partnership with Teledyne. Management aims for $100 million in revenue by fiscal 2029, expecting profitability once legal expenses subside.