Welcome to our dedicated page for Enovix Corporation news (Ticker: ENVX), a resource for investors and traders seeking the latest updates and insights on Enovix Corporation stock.
Enovix Corporation (ENVX) delivers cutting-edge silicon lithium-ion battery solutions for mobile and IoT markets through its proprietary 3D cell architecture. This dedicated news hub provides investors and industry professionals with essential updates on technological breakthroughs, financial performance, and strategic partnerships.
Access real-time press releases covering product launches, manufacturing milestones, and OEM collaborations with leaders like Intel and Qualcomm. Our curated collection ensures you never miss critical developments or market-moving announcements from this battery technology innovator.
Discover updates across key categories including quarterly earnings, intellectual property advancements, and production capacity expansions. Each entry maintains factual accuracy while highlighting Enovix's unique BreakFlow manufacturing processes and energy density achievements.
Bookmark this page for streamlined tracking of ENVX's progress in redefining energy storage standards. Return regularly to stay informed about this Nasdaq-listed pioneer's role in powering next-generation consumer electronics and industrial applications.
Enovix (ENVX) reported record Q4 2024 revenue of $9.7 million and full-year revenue of $23.1 million, up 202% from 2023. The company achieved its first-ever positive gross margin of 11% ($1.1 million). Q4 GAAP net loss was $37.5 million, with EPS loss of $0.20.
Key developments include shipping early engineering samples to lead smartphone OEM customers, securing a landmark prepaid purchase order for smart eyewear batteries, and completing Site Acceptance Testing for High-Volume Manufacturing at Fab2 in Malaysia. The company ended 2024 with $272.9 million in cash and cash equivalents.
For Q1 2025, Enovix expects revenue between $3.5-5.5 million, with GAAP EPS loss of $0.23-0.29 and adjusted EBITDA loss of $21.0-27.0 million.
Enovix (Nasdaq: ENVX), a global high-performance battery company, has scheduled its fourth quarter and full year 2024 financial results release for February 19, 2025, after market close. The company will host a live video conference call at 2:00 PM PT / 5:00 PM ET on the same day to discuss business updates, key milestones, and financial results.
Participants can register for the call through a dedicated link, which will be accessible via the Investor Relations section of Enovix's website. Investors have the opportunity to submit questions during registration for management to address during the call. A recording of the call will be available on the company's investor website for one year.
Enovix (ENVX) has secured a significant pre-paid purchase order from a leading Silicon Valley-based AI and immersive technology company for custom battery solutions designed for Mixed Reality (MR) wearables. The batteries will power next-generation head-worn devices, including smart glasses and augmented reality products.
Initial shipments are scheduled for mid-2025, with production taking place at the company's Fab2 facility in Penang, Malaysia. The agreement adds substantial contracted backlog to Fab2's production pipeline. Enovix's 3D silicon anode technology was chosen for its high energy density, compact form factor, and performance capabilities essential for MR applications.
The company plans to launch EX-1M this year and EX-2M in 2026, demonstrating its commitment to advancing battery technology for next-generation devices.
Enovix (ENVX) has successfully completed Site Acceptance Testing (SAT) for its High Volume Manufacturing line at Fab2 in Malaysia in late December. This milestone follows the Factory Acceptance Testing (FAT) completed earlier in 2024 and validates the manufacturing equipment's readiness through comprehensive testing.
The completion of SAT is a important step toward enabling Fab2 to begin mass production in 2025, supporting the company's strategy to meet growing global demand for high energy density battery solutions. Batteries produced during testing phases have already been delivered to customers as early samples.
The company is now focusing on transitioning to full-scale production, ensuring smooth customer qualifications, optimizing manufacturing workflows, and minimizing time-to-market for customized battery solutions. The milestone demonstrates Enovix's ability to commercialize its patented manufacturing process at scale while maintaining quality standards.
Enovix (Nasdaq: ENVX) has appointed Kristina Truong as its first Senior Vice President and Chief Accounting Officer. In her new role, Truong will oversee accounting, controllership, financial reporting, and Sarbanes-Oxley controls. She joined Enovix in June 2022 and brings over 25 years of experience in technology, telecommunications, and life sciences companies.
CEO Raj Talluri emphasized that the appointment comes as Enovix operates in five international geographies and prepares for significant growth in 2025. Prior to Enovix, Truong served as Corporate Controller at Spruce Biosciences. She is an active California Certified Public Accountant with a Bachelor of Science in Accounting from Capital University.
Enovix (Nasdaq: ENVX) has achieved a significant milestone by shipping second-generation EX-2M samples from its Malaysian Fab 2 plant to mobile phone customers. The samples show a 10% energy density improvement over EX-1M products, which are scheduled for mass production in 2025. The company has received its first mobile phone customer purchase order for custom samples, following a major joint-development agreement milestone. EX-2M is planned for launch in 2026, while the company is on track to complete Site Acceptance Testing on the High-Volume Manufacturing Line at Fab2 plant in December 2024.
Enovix (ENVX) announced that CFO Farhan Ahmad has departed the company, initiating a search for a new CFO. The company maintains a strong financial position with over $250 million in cash and a reduced cost structure. Executive Chairman T.J. Rodgers emphasized the search will focus on finding a CFO with exceptional investor relations skills and transparent communication style. The company acknowledges feedback from investors regarding communication improvements and commits to maintaining open dialogue with shareholders, particularly concerning operational challenges.
Enovix (Nasdaq: ENVX) has appointed Dr. Hongwei Yan as Chief Technology Officer (CTO), reporting to CEO Dr. Raj Talluri. Dr. Yan brings extensive experience from leading battery companies Samsung SDI and Amperex Technology (ATL), where he achieved a 100% success rate in over 30 battery qualifications for a Tier 1 US mobile customer. His expertise includes 8 patents and 21 peer-reviewed publications in lithium-ion battery technology. In his new role, Dr. Yan will focus on technology development, customer qualification, and scaling up the company's Malaysia high-volume manufacturing plant in 2025.
Enovix (Nasdaq: ENVX), a global high-performance battery company, has announced its participation in two upcoming investor events. The company will take part in an Oppenheimer Fireside Chat with CEO Dr. Raj Talluri on Monday, November 11, 2024, and the J.P. Morgan Equity Opportunities Forum in Miami Beach, Florida on Thursday, November 14, 2024.
Interested portfolio managers and analysts can request meetings through their sales representatives at the sponsoring firms. Recorded webcasts, where available, can be accessed in the Events section under News and Events on the Enovix investor relations website.
Enovix (Nasdaq: ENVX) has successfully completed a secondary equity offering, receiving approximately $96 million net of fees. This capital raise strengthens the company's financial position, with expected year-end 2024 cash levels of approximately $245 million, up from the previous forecast of $150 million. The company cites multiple mass production commitments for 2025 and a growing pipeline for 2026, with plans to use the strengthened balance sheet to fund additional high-volume production lines.
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