Financial Data and Key Metrics Changes - The company reported Q1 2025 revenue of $5.1 million, exceeding the midpoint of guidance [9] - Adjusted EBITDA loss was $22.2 million, near the high end of the guidance range [19] - Non-GAAP net loss per share was $0.15, at the high end of the guidance range [19] - Capital expenditures for the quarter totaled $6.3 million, with cash used in operations amounting to $16.9 million [19] - The company ended the quarter with approximately $248 million in cash, cash equivalents, and marketable securities [19] Business Line Data and Key Metrics Changes - The company commenced development of a custom smartphone cell for a lead customer, with qualification samples to be delivered later this quarter [9][12] - Significant progress was made in operations, with Fab Two in Malaysia achieving ISO 9001 certification and critical yield improvements [10][14] - The company delivered its first smart eyewear customer samples and is expanding into handheld computer and scanner segments [15] Market Data and Key Metrics Changes - The company noted no material impact from recent global trade developments, as most planned near-term sales are concentrated in Asia [11] - Increased interest from U.S. customers has been observed, particularly in light of tariff developments [31] Company Strategy and Development Direction - The company is strategically focused on the smartphone market, which is seen as the fastest path to utilize Fab Two while maintaining pricing on value [14] - The acquisition of additional manufacturing assets in South Korea is expected to enhance the company's manufacturing footprint and support defense local customers [10][12] - The company aims to leverage its technology to meet stringent requirements in the smartphone market, which will facilitate entry into adjacent markets [58][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's growth trajectory, citing strong customer engagement and a solid capital base [18] - The company is focused on delivering qualification samples to customers by June, which will inform future production volumes [70] - Management highlighted the importance of customer feedback in refining product offerings and meeting market demands [69] Other Important Information - The company will no longer provide guidance for GAAP EPS but will continue to provide non-GAAP EPS guidance [20] - A new financial supplement document compiling historical financial information has been published for transparency [21] Q&A Session Summary Question: Updates on EX3M energy density and sampling timelines - The company expects to sample EX3M by the end of the year, with defined chemistry and anodes locked in [24][25] Question: Status of the first major OEM cell phone development agreement - The company is working closely with two cell phone OEMs, with one customer’s cell dimensions finalized for mass production by the end of the year [26][27] Question: Customer conversations post-tariff implementation - No concerns have been raised by Chinese customers, and there is increased interest from U.S. customers seeking domestic manufacturing options [30][31] Question: Financial metrics around the recent acquisition in South Korea - The acquisition was an asset purchase for $10 million, significantly expanding manufacturing capacity [52] Question: Revenue capacity following the SolarEdge acquisition - It is too early to quantify potential revenue capacity, but the acquisition dramatically increases capacity and supports local defense opportunities [80][81] Question: Update on high-volume manufacturing line throughput - Fab Two is progressing well, with yields improving and production focused on custom cells for customers [87][90] Question: Competitive positioning in energy density and cycle life - The company’s batteries are competitive in the 800 watt-hour per liter range, with ongoing improvements in cycle life and fast charging capabilities [100] Question: Defense pipeline and geographic interest - The company is receiving increased interest in defense applications, with sample orders being shipped for qualification [105]

Financial Data and Key Metrics Changes - The company reported Q1 2025 revenue of $5.1 million, exceeding the midpoint of guidance [8][19] - Adjusted EBITDA loss was $22.2 million, near the high end of the guidance range [19] - Non-GAAP net loss per share was $0.15, at the high end of the guidance range [19] - The company ended the quarter with approximately $248 million in cash and equivalents [19] Business Line Data and Key Metrics Changes - The company commenced development of a custom smartphone cell for a lead customer, indicating progress in the smartphone segment [8][12] - Significant strides were made in operations, including ISO 9001 certification and yield improvements at Fab Two in Malaysia [9][13] - The company delivered its first smart eyewear customer samples in Q1 [14] Market Data and Key Metrics Changes - The company noted no material impact from recent global trade developments, with planned near-term sales concentrated in Asia [10] - Increased interest from U.S. customers seeking to diversify supply chains towards Malaysia and South Korea was observed [30] Company Strategy and Development Direction - The company is focusing on the smartphone market as a strategic priority, leveraging its technology to meet high energy density demands [14][56] - The acquisition of manufacturing assets in South Korea is aimed at expanding capacity and supporting defense and industrial applications [9][11] - The company is actively engaged with multiple smartphone OEMs to ensure rapid ramp-up once products are established in the market [12][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's growth trajectory, citing strong customer engagement and technological advantages [18][19] - The company anticipates that successful qualification of samples will lead to meaningful orders in the defense sector [105] - Management highlighted the importance of meeting stringent requirements in the smartphone market to facilitate entry into adjacent markets [58][60] Other Important Information - The company will no longer provide guidance for GAAP EPS due to estimation difficulties but will continue with non-GAAP EPS guidance [20] - A new financial supplement document compiling historical financial information has been published for transparency [21] Q&A Session Summary Question: Updates on EX3M energy density and sampling timelines - The company expects to sample EX3M by the end of the year, with defined chemistry and anodes locked in [22][24] Question: Status of the first major OEM cell phone development agreement - The company is on track to deliver cells to the first customer in June, with ongoing collaboration and feedback [25][26] Question: Customer conversations post-tariff implementation - No concerns from Chinese customers were reported, and increased interest from U.S. customers was noted [29][30] Question: Importance of the coating line from the SolarEdge acquisition - The acquisition enhances coating capacity and supports the ramp-up of new materials for battery production [40][41] Question: Financial metrics around the South Korea acquisition - The acquisition was an asset purchase for $10 million, significantly expanding manufacturing capacity [52] Question: Revenue profile expectations for 2026 - The company aims to target multiple markets, including smartphones and defense, while being cautious about market entry [60] Question: Milestones for Fab Two and customer samples - Key milestones include delivering samples in June and passing customer qualifications by August [110][112] Question: Competitive positioning in energy density and cycle life - The company is competitive in the 800 watt-hour per liter range, with ongoing improvements in cycle life and energy density [95][101]

Investor Presentation April 2025 Safe Harbor Statement Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding our ability to build and scale our advanced silicon-anode lithium-ion battery; our production and commercialization plans, strategy and product development roadmap, including the readiness, performance, timing and customer qualification o ...

In the first quarter of 2025, Enovix advanced across critical milestones with our lead smartphone customer, keeping us on track for a customer product launch later this year. We also strengthened our leadership team, expanded our manufacturing footprint through a strategic acquisition in South Korea, and accelerated progress towards mass production readiness at Fab2 in Malaysia. Recent Highlights Exhibit 99.1 Enovix Announces First Quarter 2025 Financial Results FREMONT, Calif., April 30, 2025 -- Enovix Cor ...

Core Insights - Enovix Corporation reported financial results for Q1 2025, highlighting significant operational progress and advancements towards mass production readiness, particularly with its lead smartphone customer [1][22]. Financial Performance - Preliminary and unaudited revenue for Q1 2025 was $5.1 million, exceeding the midpoint of guidance and reflecting a decline from $9.7 million in Q4 2024 due to seasonal buying patterns [7][15]. - GAAP net loss attributable to Enovix was $23.5 million in Q1 2025, an improvement from a loss of $37.5 million in the previous quarter [17]. - The company ended Q1 2025 with $248 million in cash, cash equivalents, and marketable securities, down from $272.9 million in the prior quarter [20]. Operational Highlights - Enovix achieved ISO 9001:2015 certification for its Fab2 facility in Malaysia, indicating readiness for mass production [9]. - The company acquired a second facility in South Korea for $10 million, enhancing its manufacturing capabilities and supporting defense programs [4][7]. - Development of smartphone battery cells is underway, with qualification deliveries scheduled for Q2 2025 [7][10]. Strategic Focus - The company is concentrating on the smartphone market due to its potential for rapid profitability and the demanding technical requirements that could open doors to other markets [6]. - Enovix is also expanding into the smart eyewear and handheld computer segments, having delivered initial samples to customers [6][11]. Technology and Innovation - Enovix's unique battery architecture, which incorporates 100% active silicon, is expected to maintain a competitive edge in energy density compared to conventional architectures [5][13]. - The company is advancing its electrochemistry with the EX-2M technology node, which is projected to solidify its leadership position through 2026 [13]. Future Outlook - The company anticipates continued growth in defense orders and is positioned to drive volume production and achieve key commercialization milestones in 2025 [7][22]. - Enovix is actively engaged with other smartphone OEMs to ensure a rapid ramp-up once established in the market [11].

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].