Exhibit 99.1 Enovix Announces Third Quarter 2024 Financial Results FREMONT, Calif., October 29, 2024 -- Enovix Corporation ("Enovix") (Nasdaq: ENVX), a global high-performance battery company, announced today financial results for third quarter 2024, which included the summary below from its President and CEO, Dr. Raj Talluri. Fellow Shareholders, In the third quarter of 2024, we made significant progress on our journey to scale. The unveiling of Fab2 was a major boost in confidence with multiple customers ...

FREMONT, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") (Nasdaq: ENVX), a global high-performance battery company, announced today that it executed a development agreement with one of the leading global smartphone OEMs with top 5 market share in China. Under the terms of the agreement and subject to applicable milestones, the companies will develop a 100% active silicon anode battery customized for specific smartphone models targeted for launch in Q4 2025. The company now has agreem ...

Shares of Enovix Corporation (ENVX) have gained 16.6% over the past four weeks to close the last trading session at $10.88, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $22.25 indicates a potential upside of 104.5%. The mean estimate comprises 12 short-term price targets with a standard deviation of $6.30. While the lowest estimate of $14 indicates a 28.7% increase from the c ...

Michael Wiggins De Oliveira is an inflection investor. This means buying into cheap companies at the moment when their narrative is changing and the business is on a path toward becoming significantly more profitable over the next year. With a focus on tech and "the Great Energy Transition (including uranium)", Michael runs a concentrated portfolio with approximately 15 to 20 stocks and an average holding period of 18 months. Through his 10+ years analyzing countless companies, Michael has accumulated outst ...

FREMONT, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") (Nasdaq: ENVX), a global high-performance battery company, today announced it will release financial results for the third quarter of 2024 on Tuesday, October 29, 2024, after the close of the market. Enovix will hold a live video call at 2:00 PM PT / 5:00 PM ET on October 29, 2024, to discuss the company's business updates, key milestones, and financial results. To join the call, participants must use the following link to regi ...

FREMONT, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") (Nasdaq: ENVX), a global high-performance battery company, announced today that it commenced shipping EX-1M battery cell samples from its new Agility Line in Malaysia last week. This is an important milestone on the Company's journey to scale which follows shipping initial samples from Fab1 in California, and opening high-volume Fab2 in Malaysia just this summer. Enovix also recently completed internal UN38.3 certification for ...

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z1b Last May, I initiated my coverage on Enovix Corporation (NASDAQ:ENVX), rating it as a buy with a price target between $31.9 and $52.9 by 2027, per my scenario analysis. Since then, the stock has climbed by as much as 91%, before recently plunging more than 19% on Enovix's Q2 earnings report. In my opinion, this drop was triggered by an overreaction to the Agility line's yields, exacerbated by a broader tech selloff over fears of a recession. That said, the company shared several promising updates during ...

Core Viewpoint - Enovix Corporation reported a quarterly loss of $0.14 per share, outperforming the Zacks Consensus Estimate of a loss of $0.22, and showing improvement from a loss of $0.19 per share a year ago, indicating a 36.36% earnings surprise [1] Financial Performance - The company posted revenues of $3.77 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.08%, compared to revenues of $0.04 million in the same quarter last year [2] - Over the last four quarters, Enovix has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Movement and Outlook - Enovix shares have increased approximately 12.6% since the beginning of the year, while the S&P 500 has gained 14% [3] - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimates at -$0.18 for the coming quarter and -$0.86 for the current fiscal year [4][7] Estimate Revisions - The trend for estimate revisions for Enovix Corporation is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting expected outperformance in the near future [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5] Industry Context - The Alternative Energy - Other industry, to which Enovix belongs, is currently ranked in the bottom 22% of over 250 Zacks industries, which may impact stock performance [8]

FREMONT, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") (Nasdaq: ENVX), a global high-performance battery company, announced today financial results for second quarter 2024, which included the summary below from its President and CEO, Dr. Raj Talluri. Fellow Shareholders, In the second quarter of 2024 we began producing our first batteries in Malaysia and demonstrated strong commercial progress with a handful of leading customers. Our recent highlights include: Strong top-line growt ...