Founded in 2007 and based in Fremont, California, Enovix Corporation specializes in the innovation, development, and production of lithium-ion battery technology.
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Est. EPS $-0.57 · Revenue $38.49M · 8 analysts
Est. EPS $-0.59 · Revenue $75.32M · 7 analysts
Est. EPS $0.03 · Revenue $68.34M · 3 analysts
Est. EPS $-0.17 · Revenue $222.76M · 4 analysts
EPS $-0.12 · Revenue $5.10M
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $31.8M | +37.9% | +18.7% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $-156.7M | +29.5% | -12.6% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | -86.8% | -879.3% | +114.0% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | -554.8% | +47.2% | +16.9% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | -492.6% | +48.9% | +5.2% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $-113.5M | +38.6% | +13.5% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | -356.7% | +55.5% | +27.1% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 199.2% | +155.3% | +14.0% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 8.34x | +51.8% | -11.6% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $880.3M | +67.0% | -4.1% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -0.75 vs -0.59 | -26.3% | -0.20 vs 0.03 | -851.9% |
| Revenue Surprise | $31.8M vs $30.8M | +3.4% | $9.0M vs $68.3M | -86.8% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 28, 2026 | Benton Ryan A | officer: Interim CEO | Common Stock | A | 19,060 | — |
| Aug 28, 2026 | Benton Ryan A | officer: Interim CEO | Common Stock | D | 10,093 | $3.36 |
| Aug 28, 2026 | Truong Kristina | officer: Chief Accounting Officer | Common Stock | A | 12,512 | — |
| Aug 28, 2026 | Truong Kristina | officer: Chief Accounting Officer | Common Stock | D | 6,626 | $3.36 |
| Aug 28, 2026 | Chakravarthy Arthi | officer: Chief Legal Officer | Common Stock | A | 18,546 | — |
Operator: Thank you for standing by, and welcome to the Enovix Corporation Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, today's program will be recorded. And now I'd like to introduce your host for today's program, Monica Gould, Investor Relations for Enovix. Please go ahead. Monica Gould: Thank you, operator. I would like to welcome everyone to Enovix Corporation's Second Quarter 2026 Financial Results Conference Call. Joining me today are President and Chief Executive Officer, Dr. Raj Talluri; and Chief Financial Officer, Ryan Benton. Raj and Ryan will be speaking to the slide presentation displayed on today's webcast. which will also be posted along with our press release on our Investor Relations website at ir.enovix.com. They will provide prepared remarks, and we will then open the call for questions. Before we begin, please note that today's call contains forward-looking statements that are subject to risks and uncertainties. These statements are based on current expectations and may differ materially from actual future results due to a number of factors. For a discussion of these risks, please refer to the disclosures in today's press release and our filings with the Securities and Exchange Commission. You can also find these materials on our IR website. All statements made on this call are as of today, August 12, 2026, and we undertake no obligation to update them, except as required by law. During the call, we may also reference non-GAAP financial measures. Reconciliations to the most directly comparable GAAP measures are included in the materials posted on our IR website. And with that, I will turn the call over to Raj. Raj Talluri: Good afternoon, everyone, and thank you for joining us. The second quarter showed momentum across all 3 of our primary target markets. In smartphones, we reached an important qualification milestone. Our lead customer confirmed that our cells passed more than 1,000 cycles on the 0.2C discharge cycle test. We have one final cycle life test, and it's already well underway. We expect to finish remaining testing by the end of 2026 and with the customer acceptance and smartphone field testing to follow. In smart eyewear, the production ramp of our lead customer has begun. We shipped approximately 2,100 batteries to a Tier 1 customer, recorded our first smart eyewear product revenue from this customer and expect to deliver roughly 9x that volume in the third quarter. In drones, defense and industrial, we grew the pipeline by 41% from the first quarter. Drones led the way, we advanced product development and the drone pipeline alone exceeds over $100 million [ in Enovix ] now. Revenue for the quarter came in at the high end of our guidance, and we expect continued sequential growth in the third quarter. What is increasingly clear is that Enovix has multiple paths for growth that reinforce one another. Our 100% silicon anode AI platform is progressing towards smartphone …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Raj Talluri | President, Chief Executive Officer & Director | USD 996,491 | — | 1963 | Active |
Michael Vyvoda | Chief Operating Officer | USD 740,782 | — | 1973 | Active |
Ryan A. Benton | Chief Financial Officer | USD 520,018 | Male | 1971 | Active |
Arthi Chakravarthy | Chief Legal Officer, General Counsel, Secretary & Head of Corporate Development | USD 511,963 | Female | 1979 | Active |
James Wilcox | Vice President of Business Development & Head of Enovix Mobility | — | — | — | Active |
Kristina Truong | Senior Vice President & Chief Accounting Officer | — | Female | — | Active |
Steven R. Bakos | Senior Vice President of Worldwide Sales | — | Male | 1967 | Active |
Hongwei Yan | Chief Technology Officer | — | — | — | Active |
Robert Lahey | Head of Investor Relations | — | Male | — | Active |
Iryna Romaniv | Chief Human Resources Officer | — | Female | — | Active |
Edward Casey | Vice President of Operations | — | Male | 1955 | Active |
Robert Spotnitz | Founder | — | — | — | Active |
BlackRock Inc. bought a new stake in shares of Enovix Corporation (NASDAQ: ENVX) during the undefined quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,483,412 shares of the company's stock, valued at approximately $100,054,000. BlackRock Inc. owned approximately 7.56% of Enovix at the end
Enovix stock plunged 18% on CEO Raj Talluri's sudden resignation, hitting an all-time low and reflecting deep investor skepticism. Short-term trading upside may exist as the market digests the real reasons for Talluri's exit, but long-term trust in ENVX remains damaged. Executive chairman T.J. Rodgers has tried to make the bull case for his company under new leadership but wound up highlighting several key concerns.
Expansion Leverages Existing Company-Owned South Korea Facility, With Added Capacity Expected in Mid-2027 Expansion Leverages Existing Company-Owned South Korea Facility, With Added Capacity Expected in Mid-2027
Enovix Corporation (ENVX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Enovix Corporation (ENVX) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
