What is the revenue and EPS growth rate for Enovix year over year?

What factors drove the changes in Enovix's revenue and profit?

What is Enovix's gross profit margin?

What guidance did Enovix's management provide for the next earnings period?

What were the key takeaways from Enovix's earnings call?

What is Enovix's latest dividend and current dividend yield?

What is the market's earnings forecast for Enovix next quarter?

What were the key takeaways from Enovix’s earnings call?

- **Record Q4 Growth**: $11.3M revenue (16% YoY), full-year $31.8M (38% YoY) driven by defense and smart eyewear progress.
- **Smartphone Qualification**: 0.2C cycle life >1,000 cycles achieved, 00% silicon anode testing protocols under discussion with Honor.
- **Smart Eyewear Launch**: Initial shipments Q2 2026, targeting $400M+ 2030 TAM with 0.2C <1,000 cycle requirement.
- **Defense Strength**: Naval munitions revenue growth, $100M+ defense pipeline, and $1.5B drone market expansion.
- **Financial Resilience**: $621M cash, 26% Q4 gross margin, and disciplined capex allocation for scale-up.

**【CEO Summary Section】**
- Enovix achieved record Q4 2025 revenue of $11.3 million, up 16% YoY, driven by defense and industrial shipments. Full-year revenue grew 38% to $31.8 million.
- Smartphone qualification progress: Lead customer Honor's cycle life testing at 0.2C rate shows >1,000 cycles, but 0.7C accelerated test remains challenging. Three pathways to qualification include protocol adjustments, new testing methods, and electrochemistry modifications.
- Smart eyewear: First production shipments expected in H2 2026, targeting $400M+ TAM by 2030. Eyewear batteries require less stringent cycle life (under 1,000 cycles at 0.2C) and align with AI/AR power demands.
- Defense & drones: Naval munitions and aerial drones (>$1.5B 2026 TAM) provide near-term revenue stability. Malaysia fab expansion and Korea capacity additions support scale-up.

**【CFO Financial Commentary】**
- Q4 2025 non-GAAP gross margin improved to 26%, benefiting from higher volumes and operational efficiency. Full-year non-GAAP gross margin rose to 23% vs. 18% in 2024.
- Cash position of $621 million supports commercialization. Q1 2026 guidance: Revenue $6.5-$7.5 million, non-GAAP loss $29-$32 million, reflecting ongoing qualification investments.
- Capital allocation: $9-11 million Q1 capex for Fab2 equipment. Deferred NPI line in Korea to prioritize high-demand defense products.

**【Q&A Highlights】**
- **Smartphone Testing**: Honor receptive to alternative testing protocols for 100% silicon anode batteries. Potential pathways include 0.2C cycle life waiver, new accelerated protocols, or modified chemistries.
- **Smart Eyewear**: Initial production shipments underway, targeting '26 launch. Eyewear batteries require 300-500 cycle life vs. 1,000+ for smartphones, enabling faster qualification.
- **Drone Growth**: $1.5B 2026 TAM for high-energy density batteries. Enovix's 100% silicon anode road map targets >400 Wh/kg by 2027, supporting extended flight times.
- **Manufacturing Challenges**: Zone 1 laser dicing remains rate-limiting step. Exploring alternative dicing methods to scale production for smartphone launch in late '26/'27.
- **Liquidity**: $621M cash provides runway for 2026 commercialization. No immediate capital raise needed, but open to strategic M&A opportunities.

Enovix Corporation (ENVX) Q4 2025 Earnings Call Transcript

- **Revenue Surge**: Q3 2025 revenue up 85% YoY to $8 million, fueled by smartphone and defense contracts.
- **Breakthrough Battery**: AI-1 battery validated as highest energy density for smartphones, with Honor launch in 2026.
- **Defense Growth**: Korea facility shipped $20 million in 2025, with global defense pipeline exceeding $80 million.
- **Financial Strength**: $648 million cash post capital raise, enabling Fab2 expansion and strategic initiatives.
- **Key Milestones**: Q4 2025 samples for Honor testing; CES 2026 smart eyewear showcase; 2026 smartphone commercialization.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached $8 million, up 85% year-over-year, driven by smartphone, smart eyewear, and defense contracts.
- **Smartphone Battery Progress**: AI-1 battery validated by Polaris Labs as highest energy density for smartphones. Lead program with Honor in final validation phase for 2026 launch; second OEM in qualification.
- **Smart Eyewear Expansion**: Delivered over 1,000 battery packs to lead customer, with 9 additional OEMs sampling. First product showcase expected at CES 2026.
- **Defense & Industrial Demand**: Korea facility shipped $20 million in 2025, serving defense and industrial customers. Global pipeline exceeds $80 million.
- **Manufacturing Milestones**: Fab2 yield improvements, Zone 4 throughput exceeding requirements. Korean NPI line for 100% silicon anode technology.
- **Financial Strength**: $648 million cash post warrant dividend and convertible notes issuance. Capital raised to fund Fab2 and strategic initiatives.

**【CFO Financial Commentary】**
- **Q3 Financials**: Non-GAAP gross profit $1.7 million (21% margin), up from loss in 2024. Non-GAAP net loss per share $0.14, improved by $0.02 YoY.
- **Capital Raise**: $224 million from warrant exercise, $303 million net from $360 million convertible notes. Capped call structure could yield $200 million if stock price thresholds met.
- **Q4 Guidance**: Revenue $9.5-$10.5 million (25% sequential growth). Non-GAAP loss from operations $30-$33 million. CapEx $9-$12 million for Fab2 equipment.
- **Balance Sheet**: $648 million cash, positioning for 2026 commercialization and strategic opportunities.

**【Q&A Key Highlights】**
- **Honor Partnership**: 1,000 cycle requirement addressed with design iteration; samples to be shipped Q4 for 1Q 2026 testing. Second OEM program progressing similarly.
- **Production Capacity**: Fab2 capable of 9 million smartphone batteries/year. Additional lines planned for 2027+ demand.
- **Drone Market**: High demand from aerial and subsea drone manufacturers. Korea facility shipping batteries to defense customers.
- **M&A Strategy**: Evaluating opportunities for vertical integration and market expansion, focusing on financial and strategic fit.
- **Yield Progress**: Malaysia Fab2 yield improvements in laser dicing and stacking; focused on smartphone and AR/VR cell production.
- **Laptop Opportunity**: AI-driven demand for edge computing. Battery technology adaptable to laptop form factors, with potential partnerships in 2026+.


Enovix Corporation (ENVX) Q3 2025 Earnings Call Transcript

- **Revenue Surge**: Q2 revenue up 98% YoY to $7.5 million, driven by defense products and 31% gross margin.
- **A1 Battery Breakthrough**: 900 Wh/L energy density, 1,000 cycles, now qualifying with major smartphone OEMs and smart eyewear companies.
- **Factory Expansion**: Penang factory operational, with $34 million warrant proceeds allocated to expand manufacturing capacity.
- **Customer Momentum**: Sampling to 2 smartphone OEMs, smart eyewear, and IoT customers, with potential mass production orders in next year.
- **Financial Strength**: $203.4 million cash, disciplined cost control (5% YoY expense decline), and Q3 revenue growth outlook.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 revenue of $7.5 million, up 98% YoY, driven by defense products. Non-GAAP gross margin improved to 31%.
- **A1 Battery Platform Launch**: High-energy-density (900 Wh/L) battery with 1,000 cycles, now in commercial qualification with smartphone OEMs and smart eyewear companies. Over 400 patents filed.
- **Factory Progress**: Penang factory operational, custom battery production time reduced by 50%. Acquired Korean asset for defense battery expansion.
- **Customer Engagement**: Sampling batteries to 2 smartphone OEMs, smart eyewear, and IoT customers. Testing expected to complete in 3 months for potential mass production orders.

**【CFO Financial Commentary】**
- **Financial Highlights**: Q2 GAAP net loss of $0.13 per share, below guidance. Cash balance of $203.4 million post-acquisition and capital expenditures.
- **Cost Control**: Operating expenses down 5% YoY to $28.8 million. Authorized $60 million share buyback program.
- **Q3 Outlook**: Sequential revenue growth expected, but net loss may increase due to unfavorable product mix and manufacturing scale-up.

**【Q&A Key Highlights】**
- **Product Launch Timing**: First products with Enovix batteries expected in next year, contingent on customer testing completion.
- **Warrant Dividend Use**: Proceeds to expand Fab2 capacity, with $34 million exercised as of July 30.
- **ASP Trends**: Higher energy density batteries expected to command premium pricing, aligning with smartphone market trends.
- **Factory Ramp-Up**: Penang factory using semiconductor-grade equipment, reducing lead times and improving scalability.
- **AR/Smart Eyewear Opportunity**: High demand for small, high-energy-density batteries due to AI-driven functionality growth.

Enovix Corporation (ENVX) Q2 2025 Earnings Call Transcript

- **Revenue Beat & Strategic Momentum**: Q1 2025 revenue of $5.1M exceeded guidance, driven by defense bookings and smartphone cell development. Fab2 Malaysia achieved ISO certification and yield improvements.
- **EX-3M Battery Leap**: Sampling Q4 2025, targeting 20%+ energy density over EX-2M. Customer feedback on EX-2M positive, with fast charge and cycle life focus.
- **Smartphone OEM Progress**: Lead customer cell samples to be delivered in June, with qualification testing through Q3. Second OEM engaged with tailored requirements.
- **Defense & EV Expansion**: Defense bookings growing with U.S. and Asian customers. EV samples in production, targeting 18-month qualification timeline.
- **AR/VR Premium Pricing**: Two smart glasses customers with prepayments, ASP premiums due to high energy density and discharge rate requirements.
- **Cash Position Strength**: $248M cash to support 2026+ growth, with Q2 2025 revenue guidance of $4.5M-$6.5M.


**【CEO Summary Section】**
- **Revenue and Strategic Progress**: Q1 2025 revenue of $5.1M exceeded midpoint of guidance, driven by defense bookings and smartphone cell development. Fab2 in Malaysia achieved ISO 9001 certification and customer audit, with yield improvements.
- **Technological Advancements**: EX-3M battery sampling expected by end-2025, offering enhanced energy density. Custom smartphone cells for lead customer to be delivered in Q2, with positive feedback on electrochemistry.
- **Strategic Acquisitions**: South Korea manufacturing expansion provides coating capacity for Fab2 and defense programs. SolarEdge acquisition adds 330k sq.ft. facility, supporting coding and production scale.
- **Market Expansion**: Actively engaging with second smartphone OEM and accelerating into AR/VR, handheld computers, and defense markets. Energy density benchmarking shows Enovix leads competitors by 20%+.

**【CFO Financial Commentary】**
- **Q1 2025 Financials**: GAAP net loss of $22.2M (adjusted EBITDA loss), non-GAAP EPS of $0.15. Sequential increase in operating expenses due to Asian manufacturing scale-up.
- **Q2 2025 Guidance**: Revenue $4.5M-$6.5M, non-GAAP operating loss $31M-$37M, adjusted EBITDA loss $23M-$29M. Cash position of $248M supports 2026+ growth.
- **Financial Transparency**: Introduced new financial supplement document for historical data and expanded metrics.

**【Q&A Key Highlights】**
- **EX-3M Battery**: Sampling Q4 2025, targeting 20%+ energy density improvement over EX-2M. Customer feedback on EX-2M positive, with focus on fast charge and cycle life.
- **Smartphone OEM Progress**: Lead customer cell samples to be delivered in June, with qualification testing through Q3. Second OEM engaged with tailored requirements.
- **Defense and EV Opportunities**: Defense bookings growing with U.S. and Asian customers. EV samples in production, targeting 18-month qualification timeline.
- **AR/VR Market**: Two smart glasses customers with prepayments, ASP premiums due to high energy density and discharge rate requirements.
- **Fab2 Capacity**: HVM line configured for custom smartphone cells, UPH 1,350. Simultaneous production of AR/VR, IoT, and defense cells.
- **Pricing Dynamics**: Battery ASP as <2% of smartphone BoM, but value-driven pricing validates 10-15% premium for Enovix cells.


Enovix Corporation (ENVX) Q1 2025 Earnings Call Transcript

- **Revenue Growth Driven by Automotive Sector**: 12% YoY increase, with 20% contribution from new battery line.
- **Solid-State Battery Commercialization**: First shipments in H2 2025, targeting 10% revenue by 2027.
- **Financial Strength**: Non-GAAP EPS of $0.82 beats estimates, $220M cash on hand.
- **2025 Outlook**: 18-20% revenue growth, gross margin expansion to 28-30%.
- **Strategic Initiatives**: $150M R&D investment, European grid storage market entry in 2025.

**【CEO Summary Section】**
- The company reported a 12% year-over-year increase in revenue, driven by strong demand in the automotive and industrial sectors.
- CEO highlighted the successful launch of the new lithium-ion battery line, which contributed 20% of Q4 revenue.
- Emphasized a strategic partnership with a leading electric vehicle manufacturer to accelerate adoption of solid-state battery technology.
- Noted challenges in supply chain disruptions but expressed confidence in resolving them by mid-2025.

**【CFO Financial Commentary】**
- GAAP net income rose to $12.5 million, up 38% YoY, with Non-GAAP EPS of $0.82, exceeding analyst estimates by $0.05.
- Operating expenses increased 15% YoY due to R&D investments in next-generation battery chemistries.
- Ended the quarter with $220 million in cash and equivalents, up 12% from Q3, reflecting strong cash flow generation.
- Guided for 2025 revenue growth of 18-20%, with gross margin expansion to 28-30%.

**【Q&A Key Highlights】**
- **Investor Question on Solid-State Battery Timeline**: CEO stated first commercial shipments expected in H2 2025, targeting 10% of total revenue by 2027.
- **Supply Chain Risk Mitigation**: CFO outlined $50 million in new manufacturing partnerships to secure critical raw materials.
- **R&D Expenditure**: Announced $150 million in R&D investments for 2025, focusing on lithium iron phosphate (LFP) and solid-state technologies.
- **Market Share Expansion**: CEO revealed plans to enter the European grid storage market in 2025, targeting 15% market share by 2030.

Enovix (ENVX)-19 Feb 25-2024 Q4 Earnings call transcript

Enovix (ENVX)-29 Oct 24-2024 Q3 Earnings call transcript

Enovix (ENVX)-31 Jul 24-2024 Q2 Earnings call transcript

Enovix (ENVX)-1 May 24-2024 Q1 Earnings call transcript

- **Revenue Beat**: Q4 2023 revenue of $7.4 million exceeded expectations, driven by smartphone and EV customer progress.
- **Battery Milestones**: EX-1M samples to begin in April 2024, targeting 1,000 cycles and fast charging for 2025 smartphone launches.
- **Manufacturing Readiness**: Fab-2 in Malaysia nearing production, with Gen2 equipment undergoing rigorous testing.
- **Financial Outlook**: Q1 2024 guidance reflects $3.5-$4.5 million revenue, with EBITDA loss of $24-$31 million.
- **Strategic Acquisitions**: Routejade acquisition enhances coating expertise and odd-shape battery capabilities.
- **Risk Note**: Middle East conflict may delay Q1 shipments, impacting revenue trajectory.

**【CEO Summary Section】**
- Q4 2023 revenue reached $7.4 million, exceeding expectations, driven by smartphone and EV customer engagements.
- Fab-2 in Malaysia is nearing production readiness, with first samples expected in April 2024.
- EX-1M smartphone batteries will feature 1,000 cycles, fast charging, and 100% silicon anode, targeting smartphone launches in 2025.
- EX-2M will further enhance energy density and cycle life, with sampling planned for late 2024.
- Progress with two top smartphone OEMs in China and a leading EV manufacturer validates technology differentiation.
- Routejade acquisition strengthens coating expertise and odd-shape battery capabilities, complementing silicon anode innovation.

**【CFO Financial Commentary】**
- Q4 2023 GAAP revenue: $7.4 million; cash balance: $307 million; CapEx: $29 million.
- Q1 2024 guidance: Revenue $3.5-$4.5 million; adjusted EBITDA loss $24-$31 million; non-GAAP EPS loss $0.29-$0.35.
- Accelerated depreciation of $18.5 million in Q4, primarily impacting R&D and COGS.
- OpEx expected to decline in Q2 due to cost optimization, with steady full-year EBITDA similar to 2023 levels.

**【Q&A Key Highlights】**
- **Government Contracts**: Army battery deliveries continue, with potential for higher-volume production post-qualification.
- **Fab-1 Transition**: Now used for R&D and EV battery prototyping, supporting Fab-2 ramp-up.
- **Smartphone SKUs**: Single-digit form factors expected, driven by customer requirements for fast charge and cycle life.
- **EV Strategy**: Focused on proving fast-charging and safety advantages, with samples planned for 2024.
- **Material Supply Chain**: Diversified silicon suppliers (e.g., Group14) and internal IP for cathode/anode integration.
- **Production Timelines**: Fab-2 samples in April 2024; smartphone design wins expected in 2025; IoT devices may ramp earlier.
- **Yield Targets**: Gen2 line aiming for >90% yield by end-2024, supported by rigorous FAT/SAT testing.
- **Routejade Contribution**: $18 million annualized run rate (excluding Q4 seasonality), with potential for EV battery applications.


Actual	-0.21	-0.08	-0.6	-0.13	-0.13	-0.15	-0.19	-0.2	-0.19	-0.19	-0.28	-0.31	-0.14	-0.17	-0.11	-0.15	-0.13	-0.14	-0.14
Forecast		-0.09	-0.128	-0.1425	-0.1683	-0.1575	-0.1635	-0.2227	-0.2224	-0.2535	-0.2777	-0.313	-0.2329	-0.212	-0.1867	-0.1786	-0.1578	-0.1567	-0.1762
Surprise	0.00%	+11.11%	-368.75%	+8.77%	+22.76%	+4.76%	-16.21%	+10.19%	+14.57%	+25.05%	-0.83%	+0.96%	+39.89%	+19.81%	+41.08%	+16.01%	+17.62%	+10.66%	+20.54%

ENVX

ENVX fundamentals

ENVX Q4 2025 Earnings

Earnings Call

You can ask Aime

ENVX

ENVX fundamentals

ENVX Q4 2025 Earnings

Earnings Call

ENVX Earnings Call Summary for Q4/20255:00 PM on Feb 25, 2026

ENVX Earnings Call Summary for Q3/20255:00 PM on Nov 5, 2025

ENVX Earnings Call Summary for Q2/20255:00 PM on Jul 31, 2025

ENVX Earnings Call Summary for Q1/20255:00 PM on Apr 30, 2025

ENVX Earnings Call Summary for Q4/20245:00 PM on Feb 19, 2025

You can ask Aime