Loading...
•
Apr 03, 2022
Enovix Q1 2022 Earnings Report
Achieved important milestones including advanced 3D SiliconTM lithium-ion batteries production and BrakeFlowTM announcement.
Key Takeaways
Enovix made significant strides in Q1 2022, initiating production of advanced 3D SiliconTM lithium-ion batteries for customer qualification and introducing BrakeFlowTM, a safety innovation. The company is poised to recognize its first product revenue in Q2 2022 and secured an initial order from a major consumer electronics firm for smartwatch batteries. With a revenue funnel of $1.5 billion and active design and design wins growing to $371 million, Enovix is focused on scaling production to meet overwhelming demand.
Produced advanced 3D SiliconTM lithium-ion batteries for customer qualification.
Announced BrakeFlowTM, a breakthrough in advanced lithium-ion battery safety.
Received an initial order from one of the world’s largest consumer electronics companies for high-energy smartwatch battery.
Revenue funnel was $1.5 billion at the end of Q1 2022, with active design and design wins growing to $371 million.
Forward Guidance
Enovix anticipates revenue between $6 million and $12 million for 2022, encompassing both product and non-recurring engineering (NRE) revenue. The company plans to allocate $190 million to $210 million in cash for the full year, with approximately 55% dedicated to capital expenditures.
Positive Outlook
- Continued activities for yield and throughput improvement.
- Production lines will be busy producing qualification samples to seed future revenue ramps.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...