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ENVX

Enovix Corporation

ENVX

Enovix Corporation • NASDAQ
$7.79 ▲ 3.45% (+0.26)
Market Cap $1.49 B
52w High $16.49
52w Low $5.27
Dividend Yield 0%
P/E -9.16
Volume 2.09M
Outstanding Shares 191.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.99M ▲ $48.374M ▲ $-53.713M ▼ -672.253% ▼ $-0.26 ▼ $-33.028M ▲
Q2-2025 $7.468M ▲ $45.675M ▲ $-44.528M ▼ -596.251% ▼ $-0.22 ▼ $-34.593M ▼
Q1-2025 $5.098M ▼ $42.821M ▲ $-23.51M ▲ -461.161% ▼ $-0.12 ▲ $-13.529M ▲
Q4-2024 $9.717M ▲ $35.568M ▼ $-37.465M ▼ -385.561% ▲ $-0.2 ▲ $-27.037M ▼
Q3-2024 $4.317M $48.625M $-22.536M -522.029% $-0.3 $-12.226M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $558.818M ▲ $913.709M ▲ $616.606M ▲ $294.256M ▲
Q2-2025 $203.412M ▼ $469.112M ▼ $262.46M ▲ $203.749M ▼
Q1-2025 $248.155M ▼ $499.045M ▼ $261.261M ▼ $235.143M ▼
Q4-2024 $272.869M ▲ $527.169M ▲ $277.766M ▼ $246.741M ▲
Q3-2024 $200.912M $448.021M $277.779M $167.592M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-44.266M ▼ $-25.859M ▼ $-26.718M ▲ $-1.194M ▲ $-53.645M ▲ $-33.83M ▼
Q1-2025 $-23.531M ▲ $-16.907M ▼ $-64.371M ▼ $-1.491M ▼ $-82.997M ▼ $-23.179M ▲
Q4-2024 $-37.452M ▼ $-15.958M ▲ $-16.358M ▼ $106.532M ▲ $71.744M ▲ $-32.316M ▲
Q3-2024 $-22.638M ▲ $-30.682M ▼ $-4.533M ▼ $-864K ▼ $-34.028M ▼ $-50.215M ▲
Q2-2024 $-115.947M $-26.949M $406K $39.651M $12.901M $-52.158M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Enovix is still in an early, pre-commercial phase, with only minimal revenue so far and no sign yet of meaningful sales ramping through the last few years. Gross profit remains negative, which means the limited product activity is not yet covering direct costs. Operating losses are sizable and fairly consistent year after year, driven by heavy spending on research, engineering, and building out operations. Net losses mirror this pattern, so the company is clearly focused on developing and scaling its technology rather than on short-term profitability at this stage.

Balance Sheet

Balance Sheet The balance sheet shows a company that still has a solid asset and cash base relative to its size, but one that is steadily consuming resources to fund growth. Cash makes up a large share of total assets, which provides some runway to continue investing and operating at a loss. Debt has risen from almost nothing to a more noticeable level but is not yet extreme, while equity remains positive, indicating that the company still has a financial cushion. Over time, if losses continue and capital spending stays high, Enovix will likely need either stronger revenue or additional funding to keep its balance sheet healthy.

Cash Flow

Cash Flow Cash flow is clearly negative, which is typical for a technology manufacturer in the build-out phase. Operating cash flow has been consistently outflowing as the company spends heavily on people, development, and early production efforts without offsetting revenue. Free cash flow is even more negative because Enovix is also investing significantly in equipment and facilities, indicating a push to prepare for larger-scale manufacturing. The key question going forward is whether the current cash balance and any future financing can bridge the gap until commercial volumes and more self-sustaining cash generation are achieved.

Competitive Edge

Competitive Edge Enovix is trying to carve out a differentiated spot in the crowded battery market with higher-energy, safer cells based on a full silicon anode and a unique 3D architecture. Its technology, if scaled reliably, could offer clear advantages in energy density and safety for devices like smartphones, wearables, and rugged military or industrial equipment. The company appears to have built a meaningful patent portfolio and specialized manufacturing know-how, which together form a potential barrier to direct imitation. However, it competes against very large, well-funded global battery makers, so its real competitive strength will depend on proving performance, reliability, cost, and volume production in commercial programs over the next several years.

Innovation and R&D

Innovation and R&D Innovation is the core of Enovix’s story. The company is pursuing a nontraditional battery design with a pure silicon anode, intricate 3D cell structure, and proprietary safety features such as its internal BrakeFlow system. These developments require significant research, process engineering, and testing, which helps explain the substantial ongoing losses. Enovix is targeting a range of future applications—consumer electronics, wearables, industrial and defense uses, laptops, medical devices, and eventually vehicles—suggesting a long technology roadmap. The upside of this approach is potentially step-change performance; the downside is long development cycles and execution risk in turning cutting-edge lab technology into high-yield, mass-produced products.

Summary

Overall, Enovix looks like a classic early-stage, high-innovation hardware company: financially loss-making, cash-consuming, and capital-intensive, but with a potentially distinctive technology platform. The financial statements show a business still far from scale and profitability, relying on its cash reserves and access to capital while it builds manufacturing capability. On the strategic side, its patented silicon-anode and 3D cell architecture, plus safety and manufacturing innovations, offer a plausible path to differentiation in premium battery markets. The main uncertainties revolve around whether it can scale production efficiently, win and retain large customers, and reach positive cash flow before its financial cushion thins. For now, the story is driven much more by technology progress and commercialization milestones than by traditional financial metrics.

NEWS

November 28, 2025 · 6:28 PM UTC

HALPER SADEH LLC ENCOURAGES ENOVIX CORP. SHAREHOLDERS TO CONTACT THE FIRM TO DISCUSS THEIR RIGHTS

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November 20, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Enovix Corporation - ENVX

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November 5, 2025 · 4:05 PM UTC

Enovix Announces Third Quarter 2025 Financial Results

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October 22, 2025 · 5:26 PM UTC

Halper Sadeh LLC Encourages Enovix Corp. Shareholders to Contact the Firm to Discuss Their Rights

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October 21, 2025 · 5:07 PM UTC

Enovix to Release Third Quarter 2025 Financial Results on November 5, 2025

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