| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 7.99 | 7.0% | 85.0% |
| Total Income | 7.99 | 7.0% | 85.0% |
| Expenditure | 54.96 | 7.3% | 2.6% |
| PBT | -54.19 | 20.1% | 165.1% |
| Net Profit | -53.71 | 20.6% | 138.3% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.26 | 18.2% | 100.0% |
Enovix Announces Q3 2025 Financial Results; Revenue Grows 85% YoY
04 May 2026 · 4 May, 8:01 am
Summary
Enovix Corporation announced its third quarter 2025 financial results, with revenue growing 85% year-over-year to $8.0 million. The increase was primarily driven by ongoing strength in Korea, including defense program shipments and increased activity with strategic partners. GAAP gross margin improved to 18%, supported by increased sales, product mix, and manufacturing efficiencies. The company expects continued operating progress in the fourth quarter, including sequential revenue growth, and ongoing cost discipline as it executes customer ramps and prepares for commercial production of its AI-1 platform.
Key Highlights
- 1
Enovix's third quarter revenue increased by $3.7 million, representing an 85% year-over-year growth to $8.0 million.
- 2
GAAP gross margin improved to 18% in Q3 2025, a 33 percentage point increase compared to the (15%) in Q3 2024.
- 3
The company's cash, cash equivalents, and marketable securities totaled $648 million as of September 28, 2025, compared to $201 million a year ago.
- 4
The net loss per share, basic, was ($0.26) in Q3 2025 compared to ($0.12) in Q3 2024.
- 5
The company delivered over 1,000 battery packs to a lead smart eyewear customer and samples to 9 other unique OEMs and ODMs.
- 6
The global defense pipeline now exceeds $80 million with recent wins citing the need for diversified supply chains.
Management Comments
Raj Talluri
This quarter was marked by meaningful progress with our lead smartphone customer, as we continued advancing toward commercial launch of our AI-1 cell. Our AI-1 battery has been independently validated as having the highest energy density reported for a smartphone battery, our marquee customer programs are moving towards commercial launch, and our manufacturing capabilities at Fab2 are steadily progressing. We have further strengthened the balance sheet, secured substantial capital to execute our roadmap, and assembled a team with a proven record of execution. I’m incredibly proud of what our teams around the world have accomplished and confident in the road ahead.
Informational and educational content only. Not investment advice.