Enovix Corporation ( (ENVX) ) has released its Q3 earnings. Here is a breakdown of the information Enovix Corporation presented to its investors.
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Enovix Corporation is a high-performance battery company specializing in innovative battery technology for various applications, including smartphones and smart eyewear, with a focus on delivering high energy density solutions. In its third quarter of 2025, Enovix Corporation reported significant progress towards the commercialization of its AI-1 battery technology, particularly with a leading smartphone customer. The company also strengthened its financial position through strategic capital market activities, securing substantial funding to support its growth initiatives.
The company reported a year-over-year revenue increase of 85%, reaching $8.0 million, driven by strong performance in Korea and increased activity with strategic partners. Enovix’s AI-1 smartphone battery has been independently validated for its high energy density, and the company is advancing its manufacturing capabilities at its Fab2 facility in Malaysia. Additionally, Enovix has made strides in the defense sector, with record shipments and a growing global pipeline.
Enovix’s financial performance showed improvements, with a GAAP gross margin of 18% and a non-GAAP gross margin of 21%, reflecting increased sales and manufacturing efficiencies. The company reported a net loss per share of $0.26 on a GAAP basis, with cash, cash equivalents, and marketable securities totaling $648 million by the end of the quarter. Enovix also announced governance and leadership updates, including new appointments to its Board of Directors and regional leadership roles.
Looking ahead, Enovix remains focused on scaling its manufacturing capabilities and advancing its customer programs. The company anticipates continued revenue growth and cost discipline in the fourth quarter, as it prepares for the commercial production of its AI-1 platform. Enovix’s strengthened balance sheet positions it well to support customer qualification and pursue strategic opportunities in the evolving battery technology market.