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Enovix Corporation (ENVX)
:ENVX
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.18Last Year’s EPS
-0.31Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 19, 2025
|% Change Since: 2.59%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong year for Enovix Corporation, with substantial revenue growth and major advancements in manufacturing and market expansion, particularly in the smartphone, IoT, and defense sectors. However, the company faces challenges with a projected decrease in Q1 2025 revenue and ongoing financial losses, alongside high capital expenditure. Overall, the achievements suggest a positive trajectory, although tempered by financial management challenges.Company Guidance
During the Enovix Corporation Fourth Quarter 2024 Earnings Conference Call, the company provided several key metrics and guidance for the upcoming period. Enovix reported Q4 2024 revenues of $9.6 million, nearing the high end of their guidance range, with total 2024 revenues reaching $23.1 million, a significant increase from $7.6 million in 2023. For the first quarter of 2025, Enovix forecasts revenue between $3.5 million and $5.5 million, with an adjusted EBITDA loss ranging from $21 million to $27 million, and a non-GAAP EPS loss between $0.15 and $0.21. The company ended the quarter with approximately $273 million in cash and cash equivalents. Enovix highlighted the successful completion of Site Acceptance Testing for their High-Volume Manufacturing line in Malaysia and the shipment of early engineering samples to smartphone OEMs. They are on track for commercial smartphone launches in 2025, pending successful customer qualification, and have secured purchase orders for custom battery packs, including from a marquee smart eyewear customer. Additionally, Enovix is advancing in the defense sector, contributing significantly to their 2024 revenues, and anticipates potential upside from continued interest in this area.Significant Revenue Growth
Fourth quarter revenues were $9.6 million, near the high end of guidance. Total 2024 revenues were $23.1 million, up from $7.6 million in 2023.
Advancements in Manufacturing
Completed Site Acceptance Testing of High-Volume Manufacturing line and commenced shipping first samples of EX-2M to customers.
Smartphone and IoT Market Progress
Successfully shipped early engineering samples to a lead smartphone OEM, confirming critical safety tests, and received cell dimensions for future shipments.
Expansion in New Markets
Secured a purchase order for a custom battery from a smart eyewear customer and a sample order from a defense supplier for autonomous AI systems.
Positive Feedback on New Products
Received positive feedback from OEMs on the EX-2M energy density meeting customer targets. Initiated design for EX-3M based on OEM feedback.
Strong Financial Position
Ended the quarter with $273 million in cash and equivalents. Non-GAAP EBITDA loss was better than expected, coming in at $11.7 million.
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ENVX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ENVX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 19, 2025 | $11.19 | $11.48 | +2.59% |
| Oct 29, 2024 | $10.63 | $10.48 | -1.41% |
| Jul 31, 2024 | $14.41 | $11.65 | -19.15% |
| May 01, 2024 | $6.51 | $9.47 | +45.47% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Enovix Corporation (ENVX) report earnings?
Enovix Corporation (ENVX) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is Enovix Corporation (ENVX) earnings time?
Enovix Corporation (ENVX) earnings time is at May 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ENVX EPS forecast?
ENVX EPS forecast for the fiscal quarter 2025 (Q1) is -0.18.
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