Quarterly ResultAug 12, 2026, 04:07 PM
Enovix Q2 Revenue $9.0M, up 21%; Smartphone Qualification Progress
AI Summary
Enovix Corp reported strong second-quarter 2026 financial results, with revenue of $9.0 million, up 21% year-over-year and at the high end of guidance. The company achieved its fifth consecutive quarter of year-over-year revenue growth and its seventh consecutive quarter of positive gross profit. Operationally, Enovix announced a significant milestone with its lead smartphone customer confirming batteries passed over 1,000 cycles, and the final qualification test is underway. The smart eyewear ramp is progressing with initial revenue and a projected 9x increase in Q3 shipments, while the drone, defense, and industrial pipeline expanded significantly to $183 million.
Key Highlights
- Q2 2026 revenue reached $9.0 million, a 21% increase year-over-year, at the high end of guidance.
- Lead smartphone customer confirmed Enovix batteries passed over 1,000 cycles in discharge tests.
- Final accelerated cycle-life test for smartphone qualification is underway, expected to complete in 2026.
- Smart eyewear ramp is underway, with initial revenue recognized and Q3 shipments expected to increase 9x to 19,000 packs.
- Drone, defense, and industrial pipeline grew 41% to $183 million, with drone opportunities exceeding $100 million.
- Non-GAAP net loss per share was $0.13 for Q2 2026.
- Ended the quarter with approximately $552.1 million in cash, cash equivalents, and marketable securities.
- Q3 2026 revenue outlook is $9.0 million to $10.0 million, up 13% to 25% year-over-year.
Price Impact
More from ENVX