Ferromagnetic resonance, or FMR, is coupling between an electromagnetic wave and the magnetization of a medium through which it passes.  This coupling induces a significant loss of power of the wave.  The power is absorbed by the precessing magnetization (Larmor precession) of the material and lost as heat. For this coupling to occur, the frequency of the incident wave must be equal to the precession frequency of the magnetization (Larmor frequency) and the polarization of the wave must match the orientation of the magnetization.
This effect can be used for various applications such as spectroscopic techniques or conception of microwave devices.
The FMR spectroscopic technique is used to probe the magnetization of ferromagnetic materials.  It is a standard tool for probing spin waves and spin dynamics. FMR is very broadly similar to electron paramagnetic resonance (EPR), and also somewhat similar to nuclear magnetic resonance (NMR), except that FMR probes the sample magnetization resulting from the magnetic moments of dipolar-coupled but unpaired electrons, while NMR probes the magnetic moment of atomic nuclei that are screened by the atomic or molecular orbitals surrounding such nuclei of non-zero nuclear spin.
The FMR resonance is also the basis of various high-frequency electronic devices, such as resonance isolators or circulators.