Mark Schutter's questions to Enovix Corp (ENVX) leadership • Q3 2024
Question
Mark Schutter asked if the second smartphone OEM agreement should be viewed as more concrete or if this customer is more eager than the first. He also questioned if there was an opportunity to create a competitive race for qualification between the two customers.
Answer
CEO Raj Talluri responded that every customer relationship is unique and at a different stage, and the company's goal is to become a major supplier to the entire market. CFO Farhan Ahmad added that securing the first customer is the most critical step, as it shifts the dynamic from a 'push' to a 'pull' for subsequent customers, making adoption easier across the industry.