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Dec 31, 2023
Enovix Q4 2023 Earnings Report
Enovix announced financial results for the fourth quarter and full year 2023, achieving record top-line performance and progressing with the scale-up of Fab2 in Malaysia.
Key Takeaways
Enovix Corporation reported a revenue of $7.4 million for Q4 2023, a significant increase from previous quarters, driven by Routejade's strong performance and continued shipments for the U.S. Army. The company is focused on scaling up manufacturing in Malaysia and demonstrating high-volume production and high-energy density batteries.
Revenue reached $7.4 million in Q4 2023, up from $1.1 million in Q4 2022.
Fab2 scale-up in Malaysia is on track to produce first silicon battery samples in April.
Signed a development agreement with a leading automaker.
Gained confidence in achieving 1,000 cycles on smartphone-class silicon battery and plan to sample EX-1M batteries in Q2 2024.
Forward Guidance
For the first quarter of 2024, Enovix expects revenue between $3.5 million and $4.5 million, an adjusted EBITDA loss of $24 million to $31 million, and a Non-GAAP EPS loss of $0.29 to $0.35.
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