Enovix (ENVX) Company Report

Enovix reported Q3 2025 revenue of $8 million, marking an 85% year-over-year increase, and achieved a non-GAAP gross profit of $1.7 million, representing a 21% margin.
The company significantly strengthened its balance sheet, closing Q3 2025 with $648 million in cash and marketable securities after generating $224 million from warrant exercises and $303 million in net liquidity from a $360 million convertible notes offering.
The AI1 smartphone battery was validated as the highest energy density in the industry, with the lead smartphone program with Honor entering final validation for a planned 2026 launch, and a second smartphone OEM also in qualification for a 2026 commercial launch.
For Q4 2025, Enovix anticipates revenue between $9.5 million and $10.5 million and a non-GAAP net loss per share between $0.16 and $0.20.

Nov 5, 2025, 10:00 PM

Transcript

Enovix Announces Q3 2025 Results and Q4 2025 Guidance

ENVX

Earnings

Guidance Update

Debt Issuance

Enovix reported Q3 2025 revenue of $8.0 million, an 85% year-over-year increase, with a non-GAAP gross profit of $1.7 million (21.0% margin) and an adjusted EBITDA loss of $21.4 million.
The company's cash equivalents & marketable securities grew to $648 million as of September 28, 2025, driven by $232.1 million in gross proceeds from warrant exercises and the issuance of $360 million in 4.75% Convertible Senior Notes due 2030.
For Q4 2025, Enovix expects revenue between $9.5 million and $10.5 million and a non-GAAP net loss per share between ($0.16) and ($0.20).
The Al-1 smartphone battery's performance was independently validated as having the highest energy density reported for a smartphone battery, and the lead smartphone qualification with Honor is entering its final validation phase.

Nov 5, 2025, 10:00 PM

Presentation

Enovix Announces Third Quarter 2025 Financial Results and Business Updates

ENVX

Earnings

Guidance Update

New Projects/Investments

Enovix reported Q3 2025 revenue of $8.0 million, an 85% year-over-year increase from $4.3 million in Q3 2024, with a GAAP gross margin of 18%.
The company ended Q3 2025 with a strengthened balance sheet, holding $648 million in cash, cash equivalents, and marketable securities, compared to $201 million a year ago, following secured financing through a warrant dividend and new convertible notes.
Enovix made meaningful progress towards the commercial launch of its AI-1™ battery technology with a lead smartphone customer, with the AI-1 battery independently validated as having the highest energy density reported for a smartphone battery.
For Q4 2025, Enovix anticipates revenue between $9.5 million and $10.5 million and a non-GAAP net loss per share between ($0.16) and ($0.20).

Nov 5, 2025, 9:10 PM

8-K

Enovix Announces Third Quarter 2025 Financial Results

ENVX

Earnings

Guidance Update

New Projects/Investments

Enovix reported Q3 2025 revenue of $8.0 million, an 85% year-over-year increase, with a GAAP gross margin of 18% and a GAAP net loss per share of ($0.26).
The company strengthened its balance sheet with $648 million in unaudited cash, cash equivalents, and marketable securities as of September 28, 2025, following secured financing through a warrant dividend and new convertible notes. For Q4 2025, Enovix expects revenue between $9.5 million and $10.5 million.
Enovix's AI-1™ smartphone battery performance was independently validated as having the highest energy density for a smartphone battery, with the lead smartphone customer advancing towards commercial launch. The company also delivered over 1,000 battery packs to a lead smart eyewear customer and samples to 9 other OEMs/ODMs.

Nov 5, 2025, 9:05 PM

Press Release

Enovix Recognized on Fast Company’s Next Big Things in Tech List

ENVX

Product Launch

New Projects/Investments

Enovix Corporation has been included in Fast Company’s Next Big Things in Tech list, which highlights emerging technologies with the potential to profoundly impact industries.
The company's AI-1™ batteries have been validated by an independent testing firm and a leading smartphone OEM to deliver the highest energy density of any commercially available smartphone battery.
Enovix's product architecture enables 100% active silicon-anode solutions designed for next-generation smartphones and AI devices.
Enovix is preparing to scale production in 2026 through manufacturing facilities in Malaysia and South Korea.

Oct 15, 2025, 8:04 PM

Press Release

Enovix Prices $360 Million Convertible Senior Notes Due 2030 Offering

ENVX

Debt Issuance

New Projects/Investments

Convertible Preferred Issuance

Enovix Corporation announced and priced an offering of 4.75% Convertible Senior Notes due 2030.
The aggregate principal amount of the notes issued totaled $360 million, which includes the full exercise of the initial purchasers' option to purchase an additional $60 million in notes.
The notes will mature on September 15, 2030, and bear an interest rate of 4.75% per year, payable semiannually.
Enovix estimates the net proceeds from the offering to be approximately $348.6 million, assuming the initial purchasers' option to purchase additional notes was exercised in full.
The company intends to use a portion of the net proceeds for capped call transactions and the remainder for general corporate purposes, which may include funding potential acquisitions.

Sep 15, 2025, 8:30 PM

8-K

Enovix Prices $300 Million Convertible Senior Notes Offering

ENVX

Debt Issuance

Convertible Preferred Issuance

M&A

Enovix Corporation priced $300.0 million aggregate principal amount of 4.75% Convertible Senior Notes due September 15, 2030, in a private placement.
The estimated net proceeds from the offering are approximately $290.4 million.
Enovix expects to use approximately $37.7 million of the net proceeds for capped call transactions, with the remaining funds intended for general corporate purposes, which may include funding a portion of the purchase price for potential acquisitions.
The initial conversion price for the Notes is approximately $11.21 per share, representing a conversion premium of approximately 22.5% to the last reported sale price of Enovix common stock on September 10, 2025.
Enovix entered into capped call transactions with cap prices ranging from $16.47 to $20.13, which collectively represent an average premium of 100.0% over the September 10, 2025 closing price.

Sep 11, 2025, 11:00 AM

Press Release

Enovix Corp Warrants to Expire and Cease Trading

ENVX

Delisting/Listing Issues

Enovix Corporation announced that the alternate price condition for its warrants (ENVXW) was satisfied on August 28, 2025, confirming August 29, 2025, as the alternate expiration date.
The warrants will stop trading on Nasdaq at 4:00 p.m. New York City time on August 29, 2025, and must be exercised prior to 5:00 p.m. New York City time on the same day.
Each warrant can be exercised for $8.75 per share. As of August 27, 2025, approximately 12.6 million warrants have been exercised, generating about $110.1 million in gross proceeds.
Warrants not exercised by the August 29, 2025, deadline will become void, and holders will lose all rights.

Aug 28, 2025, 9:20 PM

8-K

Enovix AI-1™ Battery Confirmed as Highest Energy Density Smartphone Battery

ENVX

Product Launch

New Projects/Investments

Polaris Battery Labs confirmed the Enovix AI-1™ smartphone battery as the highest energy density cell ever reported for a smartphone, with an average volumetric energy density of ~919 Wh/L.
The AI-1™ platform, first unveiled in Q2 2025, also demonstrated fast charging at 3C rates, reaching 50% charge in 12.3 minutes and 100% charge in 39.5 minutes.
This independent validation confirms AI-1™ as a commercial-ready product, with shipments completed to a third leading smartphone OEM, positioning Enovix to capture share in the multi-billion-dollar smartphone battery market.

Aug 27, 2025, 12:30 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Enovix.

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