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Enovix
(NASDAQ:ENVX)
Enovix (ENVX) vs. SPDR S&P 500 ETF (SPY)
Enovix Business Overview & Revenue Model
Enovix Earnings Call Summary
Enovix Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 26.60M | 23.07M | 6.20M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 2.61M | -2.04M | -17.04M | -1.97M | -3.38M | -161.00K |
| EBITDA | -87.39M | -172.18M | -189.34M | -68.03M | -25.33M | -16.00M |
| Net Income | -128.04M | -222.24M | -51.62M | -126.04M | -37.38M | -16.19M |
Balance Sheet | ||||||
| Total Assets | 469.11M | 527.17M | 440.59M | 482.56M | 64.96M | 16.61M |
| Cash, Cash Equivalents and Short-Term Investments | 203.41M | 272.87M | 322.85M | 385.29M | 29.14M | 10.23M |
| Total Debt | 192.03M | 192.56M | 8.23M | 9.07M | 0.00 | 5.65M |
| Total Liabilities | 262.46M | 277.77M | 84.16M | 156.45M | 28.75M | 12.91M |
| Stockholders Equity | 203.75M | 246.74M | 356.43M | 326.12M | 36.22M | 3.71M |
Cash Flow | ||||||
| Free Cash Flow | -139.54M | -184.82M | -118.95M | -95.29M | -47.00M | -12.63M |
| Operating Cash Flow | -89.41M | -108.63M | -82.74M | -51.70M | -20.05M | -10.98M |
| Investing Cash Flow | -111.98M | -1.38M | -36.21M | -43.58M | -26.95M | -1.65M |
| Financing Cash Flow | 102.98M | 150.75M | 56.51M | 451.49M | 65.92M | 5.79M |
Enovix Technical Analysis
Enovix Risk Analysis
Enovix Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | 1.39B | -26.99 | -49.59% | ― | 209.20% | 4.24% | |
58 Neutral | 712.45M | -7.57 | -25.23% | ― | 14.82% | -19.27% | |
56 Neutral | 2.97B | -2.04 | 77.98% | ― | 128.49% | -697.81% | |
54 Neutral | 1.29B | -8.77 | -38.32% | ― | 20.84% | 24.84% | |
50 Neutral | $2.05B | ― | -68.46% | ― | 60.04% | 52.49% | |
50 Neutral | 2.84B | -1.13 | -117.21% | ― | -1.70% | 9.93% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
Enovix Corporate Events
Enovix Corporation has announced significant advancements in its AI-1 battery platform, which boasts a high energy density of over 900 Wh/L and is designed for AI-enabled products. The company has shipped sample batteries to leading smartphone and smart eyewear OEMs and has completed the UN38.3 certification for its smartphone batteries. Financially, Enovix reported a second-quarter revenue of $7.5 million, nearly double from the previous year, and raised approximately $232 million from a warrant dividend distribution. These developments position Enovix to capitalize on a multi-billion-dollar market opportunity in the smartphone industry, with their technology enabling on-device AI without compromising battery life.
On August 28, 2025, Enovix Corporation announced that the alternate price condition for its Nasdaq-traded warrants under ENVXW was satisfied, setting August 29, 2025, as the expiration date. Consequently, the warrants will cease trading and must be exercised by 5:00 p.m. New York City time on that date, after which they will become void. As of August 27, 2025, approximately 12.6 million warrants had been exercised, generating around $110.1 million in gross proceeds, with further proceeds expected before expiration. This development is significant for stakeholders as it impacts the company’s financial inflow and the rights of warrant holders.
On August 28, 2025, Enovix Corporation announced that the volume-weighted average price of its common stock exceeded $10.50, meeting the early expiration price condition for its warrants traded under ENVXW. Consequently, Enovix set August 29, 2025, as the alternate expiration date for these warrants, which must be exercised by 5:00 p.m. on that day. Approximately 12.3 million warrants have already been exercised, generating $107.5 million in gross proceeds, which will support the company’s production and commercialization efforts. This milestone reflects strong shareholder confidence and positions Enovix for future growth in the battery technology industry.
On August 12, 2025, Enovix Corporation appointed J. Daniel ‘Dan’ McCranie to its Board of Directors, expanding the board to eight members, six of whom are independent. McCranie, a veteran in the semiconductor and technology sectors, brings extensive experience in board governance and leadership, having served in various roles at companies like onsemi and Freescale Semiconductor. His appointment is expected to strengthen Enovix’s board as the company focuses on expanding commercialization and manufacturing of its advanced battery technology.
On July 28, 2025, Enovix Corporation announced that its common stock price exceeded $10.50 for five consecutive trading days, allowing the company to reserve the right to set an Alternate Expiration Date for its warrants. The earliest expiration date for these warrants is August 19, 2025, contingent on the stock maintaining its price above $10.50. This strategic move could potentially impact warrant holders and reflects Enovix’s proactive approach to managing its financial instruments, positioning itself advantageously in the market.
On July 21, 2025, Enovix Corporation announced the distribution of warrants to purchase its common stock to shareholders and certain convertible noteholders as of the July 17, 2025 record date. This move reflects the company’s confidence in its long-term value and aims to prioritize shareholders, with the warrants set to expire on October 1, 2026, unless an early expiration condition is met. The warrants are expected to commence trading on the Nasdaq Stock Market under the ticker ‘ENVXW’ on July 22, 2025.
On July 15, 2025, Enovix Corporation released a supplemental FAQ document to clarify logistical and eligibility-related topics concerning its previously announced warrant dividend distribution. This update aims to ensure a smooth experience for shareholders, particularly addressing potential limitations for those holding Enovix stock in margin accounts. The distribution will provide one warrant for every seven shares of common stock held as of July 17, 2025, with specific conditions outlined for warrant exercise and expiration. The announcement underscores Enovix’s commitment to transparency and shareholder engagement as it approaches the warrant dividend record date.
On July 7, 2025, Enovix Corporation announced a special dividend in the form of warrants to holders of its common stock as of July 17, 2025. This strategic move aims to provide immediate shareholder value and a cost-efficient financing option, potentially raising up to $253.8 million. The warrants, which will be distributed on or about July 21, 2025, can be exercised for cash and are expected to trade on the Nasdaq Stock Market. This announcement coincides with the launch of Enovix’s AI-1TM battery platform, marking a significant milestone in the company’s operations and positioning within the battery industry.
Enovix Corporation announced its preliminary financial results for the second quarter of 2025, reporting a revenue of $7.5 million, which exceeded its guidance range and represented a 98% increase from the same quarter in 2024. The company achieved its third consecutive quarter of positive gross profit and significantly reduced its operating and net losses compared to the previous year. Enovix’s performance reflects strong customer demand across multiple markets and positions the company for significant scaling as new products and customers are introduced.
On July 2, 2025, Enovix Corporation announced a share repurchase program authorized by its Board of Directors, allowing the company to buy back up to $60 million of its common stock. This initiative aims to provide Enovix with greater flexibility in managing its capital structure and underscores the company’s confidence in its long-term fundamentals and its commitment to delivering shareholder value. The repurchase program, effective from June 30, 2025, does not obligate the company to repurchase a specific number of shares and may be adjusted or discontinued at any time.
On June 12, 2025, Enovix Corporation held its 2025 Annual Meeting of Stockholders, where 67.5% of the voting power was represented. During the meeting, stockholders approved the election of seven directors for a one-year term, the compensation of named executive officers, and the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for fiscal year 2025.