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Mar 30, 2025
Enovix Q1 2025 Earnings Report
Enovix announced first quarter 2025 financial results
Key Takeaways
Enovix reported revenue of $5.1 million in Q1 2025, exceeding the midpoint of guidance. The company achieved positive gross margin for the second consecutive quarter and ended the quarter with $248.2 million in cash and cash equivalents. Key progress was made towards mass production readiness at Fab2 in Malaysia and customer qualification activities for smartphone batteries.
First quarter 2025 revenue was $5.1 million, exceeding the midpoint of guidance.
Achieved positive GAAP gross margin of $261 thousand for the second consecutive quarter.
Ended Q1 2025 with $248.2 million in cash, cash equivalents, and marketable securities.
Made significant progress towards mass production readiness at Fab2 in Malaysia and advanced customer qualification for smartphone batteries.
Forward Guidance
For the second quarter of 2025, Enovix expects revenue between $4.5 million and $6.5 million, a non-GAAP operating loss between $31 million and $37 million, an adjusted EBITDA loss between $23 million and $29 million, and a non-GAAP net loss per share between $0.15 and $0.21.
Positive Outlook
- Revenue expected to be between $4.5 million and $6.5 million in Q2 2025.
- Continued progress towards mass production and commercialization milestones.
- Positioned to drive volume production and build foundation for expanded scale in 2026.
- Focus remains on disciplined execution.
- Capitalizing on significant growth opportunities ahead.
Challenges Ahead
- Non-GAAP operating loss expected between $31 million and $37 million in Q2 2025.
- Adjusted EBITDA loss expected between $23 million and $29 million in Q2 2025.
- Non-GAAP net loss per share expected between $0.15 and $0.21 in Q2 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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