Enovix Corp

Enovix Corporation announced its Board of Directors declared a warrant dividend distribution to holders of its common stock and convertible senior notes. Stockholders will receive one warrant for every four shares held, and noteholders will receive warrants on a pass-through basis. Each warrant allows the holder to purchase one share of common stock at an exercise price of $3.00, payable in cash or by surrendering the 3.00% Convertible Senior Notes due 2028. The company also announced a $100 million repurchase of its 4.75% Convertible Senior Notes due 2030 for approximately $63.1 million. Preliminary Q3'26 revenue was $11.0 million, a 38% increase year-over-year, driven by drone and defense customers.

Enovix Corp reported its second fiscal quarter results, with revenue increasing to $9.02 million from $7.47 million year-over-year. The company's net loss for the quarter was $(43.08) million, a slight improvement from the prior year's $(44.27) million. However, cash and cash equivalents significantly decreased to $33.74 million from $106.01 million, and the accumulated deficit grew to $1.06 billion. The company expects to incur operating losses for the foreseeable future but anticipates sufficient cash for the next twelve months.

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.

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.

Enovix Corporation announced it will report its second quarter 2026 financial results on Wednesday, August 12, 2026, after market close. The company will host a live audio-only call at 2:00 PM PT / 5:00 PM ET on the same day to discuss business updates, commercialization progress, operational milestones, and financial results. Investors can register online and submit questions for management.

Enovix Corp announced the appointment of Dr. Michael Vyvoda as its new Chief Operating Officer, effective July 29, 2026. Dr. Vyvoda, who previously led product operations for Apple's AirPods, will be responsible for the company's global manufacturing, supply chain, and operations engineering as Enovix scales high-volume production. His compensation includes an annual base salary of $440,000, a target annual cash bonus of 60% of his base salary, and restricted stock units totaling $4.1 million in fair market value.

Enovix Corporation announced the appointment of Dr. Michael Vyvoda as Chief Operating Officer, effective July 29, 2026. Dr. Vyvoda, formerly Director of Product Operations at Apple, will lead global manufacturing, supply chain, and operations engineering as the company scales to high-volume production. This appointment comes as Enovix accelerates commercial execution, following a 49% year-over-year revenue growth to $7.6 million in Q1 2026 and an expanded global pipeline of over $130 million.

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.

Enovix reported Q1 2026 revenue of $7.6 million, a 49% increase year-over-year, exceeding the high end of its guidance. The company commenced commercial production and initial shipments of its silicon-anode smart eyewear battery and made significant progress in smartphone battery qualification by aligning on a silicon-specific framework with a lead customer. Enovix also launched its MX-1 drone battery product line and achieved its sixth consecutive quarter of positive non-GAAP gross profit, though net cash used in operating activities increased.

Enovix Corporation announced the appointment of Steve Bakos as Senior Vice President of Worldwide Sales, a newly created role aimed at supporting commercial scale-up and revenue growth. Bakos, with over 35 years of experience in the semiconductor industry, will report to Chief Business Officer Samira Naraghi. Concurrently, Enovix reached alignment with its lead smartphone customer on a new silicon-specific qualification framework, which is designed to better reflect real-world usage conditions for silicon-based batteries. This updated framework extends testing duration, increases confidence in field performance, and is seen as addressing a primary structural barrier to qualification, supporting broader commercial opportunities.