Quarterly ResultAug 12, 2026, 04:18 PM
Enovix Q2 Revenue $9.0M, up 21%; Smartphone Qual Test Underway
AI Summary
Enovix Corporation reported Q2 2026 revenue of $9.0 million, a 21% increase year-over-year, reaching the high end of its guidance. The company achieved its fifth consecutive quarter of year-over-year revenue growth. While GAAP net loss per share improved to $0.20, GAAP gross margin decreased to 14.4% due to a shift in battery product mix. Operationally, Enovix made significant progress, with its lead smartphone customer passing a key qualification milestone and the smart eyewear ramp generating initial revenue. The drone, defense, and industrial pipeline also expanded substantially, growing 41% to $183 million.
Key Highlights
- Q2 2026 revenue reached $9.0 million, marking a 21% year-over-year increase.
- GAAP net loss per share was $0.20, improving from $0.22 in the prior-year quarter.
- Non-GAAP net loss per share was $0.13, consistent with the prior-year quarter.
- Lead smartphone customer confirmed passing 1,000 cycles test; final qualification test underway.
- Initial smart eyewear revenue recognized; Q3 shipments expected to increase 9x to 19,000 packs.
- Drone, defense, and industrial pipeline grew 41% to $183 million, exceeding $100 million for drones.
- Ended the quarter with $552.1 million in cash, cash equivalents, and marketable securities.
- Q3 2026 revenue guidance set between $9.0 million and $10.0 million.
Price Impact
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