| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 9.02 | 18.7% | 12.9% |
| Total Income | 9.02 | 18.7% | 12.9% |
| Expenditure | 52.32 | 1.6% | 4.8% |
| PBT | -43.52 | 13.4% | 19.7% |
| Net Profit | -43.06 | 12.6% | 19.8% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.20 | 11.1% | 23.1% |
Enovix Reports Q3 2026 Preliminary Revenue of $11.0 Million, Up 38% Year/Year
13 Oct 2026 · 13 Oct, 3:46 pm
Summary
Enovix Corporation announced preliminary Q3’26 revenue of $11.0 million, a 38% increase year-over-year and above its guidance. This marks the company's sixth consecutive quarter of year-over-year revenue growth, driven by demand in the drone and defense sectors. The company is expanding its Korean manufacturing capacity and has realigned its leadership team to focus on growth opportunities, with Steve Bakos appointed as Chief Revenue Officer. Enovix anticipates further growth in its drone pipeline and is addressing cost structure and profitability.
Key Highlights
- 1
Enovix Corporation reported preliminary Q3’26 revenue of $11.0 million, exceeding guidance and marking the sixth consecutive quarter of year-over-year revenue growth.
- 2
Revenue for the third fiscal quarter of 2026 increased by 38% compared to the same period in the prior year.
- 3
The company's drone, defense, and industrial pipeline grew to approximately $216 million, an 18% increase.
- 4
The drone pipeline specifically saw significant growth, increasing by 48% to approximately $150 million.
- 5
Enovix is investing $19 million to double the capacity of its Korean plant to meet surging demand from U.S. and allied defense programs.
- 6
Steve Bakos has been promoted to the newly created role of Chief Revenue Officer and General Manager to lead global defense and commercial business.
Management Comments
Ryan Benton
We are focusing on moving our $216 million drone, defense and industrial pipeline forward into design wins, purchase orders and shipments. The added Korean manufacturing capacity will enable timely delivery of those orders, which in the first part of Q4’26 have already exceeded our Q3’26 total revenue. Meanwhile, year-to-date we have shipped approximately 17,000 production samples to one of our 24 current and prospective smart eyewear customers.
Steve Bakos
Our drone and defense customers are telling us they need high-performance batteries at scale from a fully qualified, dependable source now. My job is to monetize that growing pipeline at attractive margins.
T.J. Rodgers
We have now revamped ENVX’s executive staff and aligned it with immediate revenue growth opportunities in the high‑margin defense markets that need our capacity as well as the sampling requirements of the broad and higher-volume consumer markets. We have also put our VP of R&D, Jon Doan, and our substantial 147‑person R&D team under COO Michael Vyvoda, a Berkeley Ph.D. in Chemical Engineering, to focus R&D directly on revenue‑related projects. In addition to our revenue focus, we are now directly addressing our cost structure and profitability. We will report the first accomplishments of our cost reduction plan in our Q3’26 report on November 12.
Informational and educational content only. Not investment advice.