NASDAQ Framework: Enovix Corporation
1: Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy. View Source2: Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California. View Source3: Enovix Corporation is an advanced silicon battery company. The Company’s disruptive architecture enables a battery with high energy density and capacity without compromising safety. It is engaged in designing, developing, manufacturing, and commercializing lithium-ion (Li-ion) battery cells that significantly increase the amount of energy density and storage capacity relative to conventional battery cells. Its product roadmap consists of future nodes at higher levels of... View Source
Enovix Corporation, headquartered in Fremont, California, is a global high-performance battery company specializing in the design, development, and manufacturing of advanced silicon-anode lithium-ion batteries. Founded in 2007, Enovix serves various industries, including wearables and IoT, smartphones, laptops and tablets, industrial and medical devices, and electric vehicles. The company's innovative 3D cell technology and production processes aim to significantly enhance energy density and storage capacity without compromising safety, positioning Enovix as a key player in the renewable energy sector 456.
4: Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy. View Source5: Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California. View Source6: Enovix Corporation is an advanced silicon battery company. The Company’s disruptive architecture enables a battery with high energy density and capacity without compromising safety. It is engaged in designing, developing, manufacturing, and commercializing lithium-ion (Li-ion) battery cells that significantly increase the amount of energy density and storage capacity relative to conventional battery cells. Its product roadmap consists of future nodes at higher levels of... View Source
UNKNOWN
The provided facts do not specify whether Enovix Corporation is still led by its founders or if the founders are heavily involved in the company.
The provided facts do not specify whether Enovix Corporation is still led by its founders or if the founders are heavily involved in the company.
HIGH RISK
Enovix Corporation is currently experiencing significant financial challenges. The company has yet to post positive earnings in any quarter, with a recent negative EPS of -31 cents for the first quarter of 2024 7. Additionally, Enovix's revenues for the trailing 12 months were only $7.64 million, resulting in a gross profit of -$55.42 million, while operating expenses have ballooned to $174.84 million in 2023 8. These factors, combined with a substantial increase in losses by 314.7% from the previous year 9, indicate a high-risk financial situation.
Enovix Corporation is currently experiencing significant financial challenges. The company has yet to post positive earnings in any quarter, with a recent negative EPS of -31 cents for the first quarter of 2024 7. Additionally, Enovix's revenues for the trailing 12 months were only $7.64 million, resulting in a gross profit of -$55.42 million, while operating expenses have ballooned to $174.84 million in 2023 8. These factors, combined with a substantial increase in losses by 314.7% from the previous year 9, indicate a high-risk financial situation.
7: For starters, the company has yet to post positive earnings in any quarter, most recently showing a negative EPS of -31 cents in the first quarter of 2024. Enovix reports second-quarter earnings on Aug. 7, 2024, when analysts forecast a loss of -19 cents. This is largely based on disappointing revenues, which were $7.64 million for the trailing 12 months, resulting in -$55.42 million in gross profit. The company’s operating expenses have ballooned from $67.56 million in December 2021 to $174.84 million in 2023, when free cash flow registered -$166.43 million. View Source8: For starters, the company has yet to post positive earnings in any quarter, most recently showing a negative EPS of -31 cents in the first quarter of 2024. Enovix reports second-quarter earnings on Aug. 7, 2024, when analysts forecast a loss of -19 cents. This is largely based on disappointing revenues, which were $7.64 million for the trailing 12 months, resulting in -$55.42 million in gross profit. The company’s operating expenses have ballooned from $67.56 million in December 2021 to $174.84 million in 2023, when free cash flow registered -$166.43 million. View Source9: In 2023, Enovix's revenue was $7.64 million, an increase of 23.25% compared to the previous year's $6.20 million. Losses were -$214.07 million, 314.7% more than in 2022. View Source
YES
Enovix Corporation is launching new product offerings. The company has begun customer sampling of its EX-1M batteries 10.
Enovix Corporation is launching new product offerings. The company has begun customer sampling of its EX-1M batteries 10.
10: Enovix to Release Second Quarter 2024 Financial Results on July 31, 2024 GlobeNewswire Jul 17, 2024 11:30am Enovix to Hold Grand Opening of Malaysia Factory on August 8, 2024 GlobeNewswire Jul 3, 2024 11:30am Enovix Signs MOU with Leading Consumer Electronics Battery Pack Manufacturer GlobeNewswire Jun 26, 2024 11:30am Enovix Signs Agreement to Deliver High-Performance Batteries for Mixed Reality Headset GlobeNewswire Jun 25, 2024 11:30am Enovix Begins Customer Sampling of EX-1M Batteries GlobeNewswire May 13, 2024 11:30am Enovix to Participate in Upcoming Investor Conferences GlobeNewswire May 7, 2024 11:54am Enovix shrinks quarterly loss, vows to cut costs as battery maker's stock soars 20% MarketWatch May 2, 2024 12:24am Enovix Announces First Quarter 2024 Financial Results GlobeNewswire May 1, 2024 8:01pm View Source
Enovix Corporation's product roadmap and expansion strategy for 2024 through to 2026 include several key initiatives aimed at scaling production and enhancing product offerings. The company is set to hold a grand opening for its high-volume manufacturing facility, Fab2, in Penang, Malaysia, on August 8, 2024, which will significantly boost its production capabilities 1112. Additionally, Enovix has begun customer sampling of its EX-1M batteries, indicating a push towards new product introductions 13. The company has also signed agreements to deliver high-performance batteries for mixed reality headsets and entered into a Memorandum of Understanding (MOU) with a leading consumer electronics battery pack manufacturer, reflecting its strategic partnerships and market expansion efforts 1415.
11: Enovix to Release Second Quarter 2024 Financial Results on July 31, 2024 GlobeNewswire Jul 17, 2024 11:30am Enovix to Hold Grand Opening of Malaysia Factory on August 8, 2024 GlobeNewswire Jul 3, 2024 11:30am Enovix Signs MOU with Leading Consumer Electronics Battery Pack Manufacturer GlobeNewswire Jun 26, 2024 11:30am Enovix Signs Agreement to Deliver High-Performance Batteries for Mixed Reality Headset GlobeNewswire Jun 25, 2024 11:30am Enovix Begins Customer Sampling of EX-1M Batteries GlobeNewswire May 13, 2024 11:30am Enovix to Participate in Upcoming Investor Conferences GlobeNewswire May 7, 2024 11:54am Enovix shrinks quarterly loss, vows to cut costs as battery maker's stock soars 20% MarketWatch May 2, 2024 12:24am Enovix Announces First Quarter 2024 Financial Results GlobeNewswire May 1, 2024 8:01pm View Source12: Simply Wall St.Institutional investors may adopt severe steps after Enovix Corporation's (NASDAQ:ENVX) latest 17% drop adds to a year lossesKey Insights Institutions' substantial holdings in Enovix implies that they have significant influence over the...GlobeNewswireEnovix to Release Second Quarter 2024 Financial Results on July 31, 2024FREMONT, Calif., July 17, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, today announced it will release financial results for the second quarter of 2024 on Wednesday, July 31, 2024, after the close of the market. Enovix will hold a live video call at 2:00 PM PT / 5:00 PM ET on July 31, 2024, to discuss the company’s business updates, key milestones, and financial results. To join the call, participants must use the following linGlobeNewswireEnovix to Hold Grand Opening of Malaysia Factory on August 8, 2024FREMONT, Calif., July 03, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, today announced it will hold a grand opening of Fab2, its high-volume production facility in Penang, Malaysia, on August 8, 2024. The grand opening will provide key supporters such as customers, investors, business partners, and local officials the opportunity to tour the facility and hear from Enovix executives. “We are excited to welcome distinguished gues View Source13: Enovix to Release Second Quarter 2024 Financial Results on July 31, 2024 GlobeNewswire Jul 17, 2024 11:30am Enovix to Hold Grand Opening of Malaysia Factory on August 8, 2024 GlobeNewswire Jul 3, 2024 11:30am Enovix Signs MOU with Leading Consumer Electronics Battery Pack Manufacturer GlobeNewswire Jun 26, 2024 11:30am Enovix Signs Agreement to Deliver High-Performance Batteries for Mixed Reality Headset GlobeNewswire Jun 25, 2024 11:30am Enovix Begins Customer Sampling of EX-1M Batteries GlobeNewswire May 13, 2024 11:30am Enovix to Participate in Upcoming Investor Conferences GlobeNewswire May 7, 2024 11:54am Enovix shrinks quarterly loss, vows to cut costs as battery maker's stock soars 20% MarketWatch May 2, 2024 12:24am Enovix Announces First Quarter 2024 Financial Results GlobeNewswire May 1, 2024 8:01pm View Source14: Enovix to Release Second Quarter 2024 Financial Results on July 31, 2024 GlobeNewswire Jul 17, 2024 11:30am Enovix to Hold Grand Opening of Malaysia Factory on August 8, 2024 GlobeNewswire Jul 3, 2024 11:30am Enovix Signs MOU with Leading Consumer Electronics Battery Pack Manufacturer GlobeNewswire Jun 26, 2024 11:30am Enovix Signs Agreement to Deliver High-Performance Batteries for Mixed Reality Headset GlobeNewswire Jun 25, 2024 11:30am Enovix Begins Customer Sampling of EX-1M Batteries GlobeNewswire May 13, 2024 11:30am Enovix to Participate in Upcoming Investor Conferences GlobeNewswire May 7, 2024 11:54am Enovix shrinks quarterly loss, vows to cut costs as battery maker's stock soars 20% MarketWatch May 2, 2024 12:24am Enovix Announces First Quarter 2024 Financial Results GlobeNewswire May 1, 2024 8:01pm View Source15: Simply Wall St.Institutional investors may adopt severe steps after Enovix Corporation's (NASDAQ:ENVX) latest 17% drop adds to a year lossesKey Insights Institutions' substantial holdings in Enovix implies that they have significant influence over the...GlobeNewswireEnovix to Release Second Quarter 2024 Financial Results on July 31, 2024FREMONT, Calif., July 17, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, today announced it will release financial results for the second quarter of 2024 on Wednesday, July 31, 2024, after the close of the market. Enovix will hold a live video call at 2:00 PM PT / 5:00 PM ET on July 31, 2024, to discuss the company’s business updates, key milestones, and financial results. To join the call, participants must use the following linGlobeNewswireEnovix to Hold Grand Opening of Malaysia Factory on August 8, 2024FREMONT, Calif., July 03, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, today announced it will hold a grand opening of Fab2, its high-volume production facility in Penang, Malaysia, on August 8, 2024. The grand opening will provide key supporters such as customers, investors, business partners, and local officials the opportunity to tour the facility and hear from Enovix executives. “We are excited to welcome distinguished gues View Source