FREMONT, Calif., April 17, 2025 (GLOBE NEWSWIRE) -- Enovix Corporation (NASDAQ:ENVX), a global high-performance battery company, announced the appointment of Ryan Benton as Chief Financial Officer (CFO). Mr. Benton brings over three decades of financial leadership experience. He previously held key roles at ASM International and served as CFO for multiple public companies including Silvaco and Exar Corporation. Enovix CEO Dr. Raj Talluri added, "Ryan's experience and transparent communication style make him ...

Since my last coverage on the stock, Enovix Corporation ( ENVX ) has seen its shares crater by 24%. This drop was exacerbated by the latest tariffs imposed by the Trump administration, following which, theAs a former managing editor at a financial media publication focused on mid and small caps, I am using my experience to present investment opportunities in undervalued companies. My experience, combined with my academic background in financial markets and institutions, allows me to bring thorough research ...

Acquisition will support company’s efforts to meet growing demand in the defense industryFREMONT, Calif., April 03, 2025 (GLOBE NEWSWIRE) -- Enovix Corporation (Nasdaq: ENVX), a global high-performance battery company, today announced the acquisition of battery cell manufacturing assets from SolarEdge, located in South Korea. The acquisition will expand the company’s manufacturing footprint and help position Enovix to meet growing demand in the defense industry. The transaction is expected to close in April ...

FREMONT, Calif., March 31, 2025 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") (Nasdaq: ENVX), a global high-performance battery company, today announced the completion of its second milestone, triggering a payment for sample battery cells shipped under a development agreement executed in October 2024 with a leading smartphone OEM. The samples were customized to specific requirements of the OEM, including cycle life, fast charge and energy density levels which Enovix believes are superior to any product ...

Core Viewpoint - The bullish rating on Enovix (NASDAQ: ENVX) is reiterated, driven by advancements in mass production capacity expected in Q4'24, indicating that commercialization is becoming more attainable [1]. Group 1: Company Insights - Enovix is making significant progress in its mass production capabilities, which is crucial for its commercialization efforts [1]. - The company is positioned within the technology, innovation, and sustainability sectors, focusing on emerging technologies and sustainable investing [1]. Group 2: Analyst Background - The analyst employs a "First Principles" approach to investment analysis, breaking down complex problems to identify overlooked opportunities [1]. - The analyst has a strong background in investment, private equity, and venture capital, with a proven track record of delivering strong returns [1].

UNITED STATES OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________to __________ Enovix Corporation Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 SECURITIES AND EXCHANGE COMMISSION For the fiscal year ended December 29, 2024 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securitie ...

Company Overview - Enovix is a Silicon Valley-based battery design and manufacturing firm specializing in 100% silicon anode lithium-ion batteries for consumer electronics [1] - The primary fabrication line, Fab2, located in Malaysia, exited testing in January 2025 and is now prepared for large-scale order fulfillment [1] Leadership and Background - The founder of Building Benjamins, Benjamin Halliburton, has a distinguished investment background, having founded Tradition Capital Management in 2000 and received accolades such as "PSN Manager of the Decade" for All-Cap in the 2000s and for Dividend Value in the 2010s [1] - Halliburton began his investment career at Merrill Lynch in 1986 and has continuously been involved in investing, earning an MBA with a focus on finance from Duke's Fuqua School of Business in 1990 [1] - He also holds the Chartered Financial Analyst designation and was recognized as the top-performing portfolio manager at Brundage, Story and Rose during the 1990s bull market [1]

Providing alpha-generating investment ideas. I am an independent investor managing my family's portfolio, primarily via a Self Managed Super Fund. You can expect my articles to deliver a clearly structured, evidence-based thesis. But first and foremost, I encourage readers to judge me on my performance.I have a generalist approach as I explore, analyze and invest in any sector so long there is perceived alpha potential vs the S&P500. The typical holding period ranges between a few quarters to multiple years ...

Financial Data and Key Metrics Changes - In Q4 2024, the company reported revenues of $9.6 million, which is near the high end of their guidance range. For the full year 2024, total revenues reached $23.1 million, a significant increase from $7.6 million in 2023, representing a year-over-year growth of approximately 204% [10][19]. - Non-GAAP EBITDA for Q4 was a loss of $11.7 million, which was better than the guidance of a loss between $19 million and $25 million. Non-GAAP EPS also showed a loss of $0.11, exceeding the guidance of a loss between $0.15 and $0.21 [19][21]. - The company ended the quarter with approximately $273 million in cash and cash equivalents, with capital expenditures (CapEx) in Q4 amounting to $16.4 million [20][21]. Business Line Data and Key Metrics Changes - The company completed its top manufacturing and product objectives for the quarter, including the Site Acceptance Testing (SAT) of its High-Volume Manufacturing (HVM) line and shipping the first samples of EX-2M to customers [11][12]. - The ramp-up of Fab2 in Malaysia was highlighted as a pivotal accomplishment, with yields exceeding those achieved in Fab1, indicating readiness for smartphone mass production by Q4 2025 [13][14]. Market Data and Key Metrics Changes - The company is focusing on segments with significant battery constraints, such as smart eyewear and the defense industry, which have emerged as unique growth opportunities. The defense sector has seen increased interest from drone manufacturers and defense suppliers since the US elections in November [15][16]. - The company has secured a purchase order from a marquee smart eyewear customer and is developing custom cells for this segment [12][15]. Company Strategy and Development Direction - The company is prioritizing smartphone markets while also exploring opportunities in smart eyewear and defense, where its technology offers a competitive advantage due to battery constraints [15][16]. - The design phase for EX-3M has officially begun, incorporating feedback from lead OEMs to align with their evolving requirements [18]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential upside from the defense industry and noted that the demand for higher capacity batteries is driven by applications such as AI, which consume significant energy [57][58]. - The company is confident in its manufacturing readiness and customer interest, with multiple customer audits ongoing [14][22]. Other Important Information - The company is in the process of optimizing its manufacturing lines to improve efficiency and throughput as it gains more visibility into customer demand [51][52]. - The company is also focused on expanding its capacity in response to customer qualifications and market demand, with plans to add additional manufacturing lines as needed [26][28]. Q&A Session Summary Question: What are the implications of new policies and tariffs on Enovix's operations? - Management indicated that there has been increased interest from defense and industrial customers in the US, and the company's manufacturing locations in Korea and Malaysia are favorable for shipping to the US, thus not seeing much effect from tariffs [24]. Question: What is the current guidance for adding manufacturing lines and capacity? - The company has completed SAT of its HVM line in Malaysia, which has a capacity of approximately 9.5 million to 10 million batteries per year. They are planning to add up to four lines in total [26][27]. Question: Can you provide insights on the growth profile of a drone customer? - While specific customer details could not be disclosed, management noted significant interest in high-rate batteries for applications requiring fast discharge, indicating a growing market [33][34]. Question: What is the status of the EX-2M and EX-3M models? - The EX-2M has received positive feedback from OEMs, and the design phase for EX-3M has commenced, focusing on increased energy density and customer requirements [41][43]. Question: How quickly can the company ramp up production for new lines? - The company is stockpiling long lead time items to reduce the timeline for adding new lines, with expectations that the second line will be set up significantly faster than the first [97][98]. Question: What is the expected CapEx for 2025? - The company has budgeted between $30 million to $40 million for CapEx in 2025, focusing on long lead time items and additional manufacturing capacity [110]. Question: How does the sales cycle work for cellphones? - The sales cycle involves working closely with customers to meet their requirements, with the expectation that cells can be qualified for multiple models over time, extending into 2026 [120][124].

Group 1 - Enovix Corporation reported a quarterly loss of $0.11 per share, better than the Zacks Consensus Estimate of a loss of $0.17, and improved from a loss of $0.28 per share a year ago, representing an earnings surprise of 35.29% [1] - The company posted revenues of $9.72 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 8.63%, and up from $7.38 million in the same quarter last year [2] - Enovix Corporation has surpassed consensus EPS estimates three times over the last four quarters, indicating a positive trend in earnings performance [2] Group 2 - The stock has added approximately 2.7% since the beginning of the year, while the S&P 500 has gained 4.2%, suggesting underperformance relative to the broader market [3] - The current consensus EPS estimate for the upcoming quarter is -$0.15 on revenues of $5.45 million, and for the current fiscal year, it is -$0.62 on revenues of $36.44 million [7] - The Zacks Industry Rank for Alternative Energy - Other is in the top 36% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]