Quarterly ResultMay 14, 2026, 06:07 AM
Enovix Q1 Revenue +49% to $7.6M; Net Loss $(38.3)M
AI Summary
Enovix reported a significant increase in revenue for the fiscal quarter ended April 5, 2026, reaching $7.6 million, a 49% rise year-over-year. However, the company's net loss widened to $38.3 million, compared to $23.5 million in the prior year. Operating cash outflow also increased substantially. The company continues to incur operating losses and negative cash flows, with an accumulated deficit of $1.02 billion, but expects current cash to cover funding for the next twelve months.
Key Highlights
- Revenue increased 49.1% to $7.6 million for Q1 2026.
- Net loss widened to $38.3 million from $23.5 million year-over-year.
- Gross profit surged to $1.55 million from $0.26 million.
- Net loss per share was $(0.18) for Q1 2026, up from $(0.12).
- Net cash used in operating activities increased to $33.1 million.
- Cash and cash equivalents decreased to $88.8 million.
- Accumulated deficit reached $1.02 billion as of April 5, 2026.
- Warrant liability decreased to $0.181 million from $6.578 million.
Price Impact
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