Enovix Corp ENVX
Enovix Corporation (the "Company," "we," "us," "our" and "Enovix") is a global high-performance battery company focused on designing, developing, manufacturing, and commercializing advanced Lithium-ion, or Li-ion, batteries, including proprietary silicon-anode architectures, for smartphones, smart eyewear, defense, industrial and emerging edge-AI applications. Our proprietary silicon-anode battery architecture enables higher energy density and performance relative to conventional battery cells, particularly in space-constrained devices. Our battery's mechanical design, or "architecture," allows us to use high performance chemistries while maintaining safety and reliability, supporting commercialization opportunities across various consumer and industrial markets.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- South Korea
- Switzerland
- United States
- Norway
- Other
- Taiwan
| Region | FY2025 | FY2024 |
|---|---|---|
| South Korea | $21.6M | $12.9M |
| Switzerland | $4.3M | $4.8M |
| United States | $2.1M | $889.0K |
| Norway | $1.5M | $2.4M |
| Other | $1.2M | $1.3M |
| Taiwan | $1.0M | $889.0K |
As the company reported it, from the “Segment and Geographic Information - Schedule of Revenue Customers by Geographic Areas (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $31.8M | $23.1M | $7.6M | $6.2M | $0 | $0 | — |
| Cost of revenue | $25.7M | $25.1M | $63.1M | $23.2M | $2.0M | $3.4M | — |
| Gross profit | $6.1M | -$2.0M | -$55.4M | -$17.0M | -$2.0M | -$3.4M | — |
| R&D | $110.3M | $124.5M | $88.4M | $58.1M | $37.9M | $14.4M | — |
| SG&A | $73.0M | $74.3M | $79.0M | $52.0M | $29.7M | $5.7M | — |
| Total operating expenses | $183.4M | $240.6M | $174.8M | $114.9M | $67.6M | $20.2M | — |
| Operating income | -$177.3M | -$242.7M | -$230.3M | -$132.0M | -$69.5M | -$23.5M | — |
| Interest expense | $21.6M | $6.8M | $4.5M | $0 | $187.0K | $107.0K | — |
| Pre-tax income | -$157.9M | -$223.9M | -$214.8M | -$51.6M | -$125.9M | -$39.6M | — |
| Income tax | $1.3M | $1.4M | $633.0K | $0 | $0 | $0 | — |
| Net income | -$156.6M | -$222.5M | -$214.1M | -$51.6M | -$125.9M | -$39.6M | — |
| EPS, basic | -0.75 | -1.19 | -1.27 | -0.34 | -1.07 | -0.49 | — |
| EPS, diluted | -0.75 | -1.19 | -1.30 | -0.82 | -1.07 | -0.49 | — |
| Shares, diluted (wtd. avg.) | 207.6M | 186.0M | 169.6M | 154.1M | 117.2M | 80.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $106.0M | $272.9M | $233.1M | $323.0M | $385.4M | $29.2M | $10.3M |
| Short-term investments | $406.0M | $0 | $73.7M | $0 | $0 | $0 | — |
| Receivables | $4.4M | $4.6M | $909.0K | $170.0K | $0 | — | — |
| Inventory | $13.6M | $7.7M | $8.7M | $634.0K | $0 | — | — |
| Total current assets | $542.2M | $295.0M | $323.2M | $329.6M | $398.1M | $33.0M | — |
| Property, plant and equipment | $170.3M | $167.9M | $166.5M | $103.9M | $76.6M | $31.3M | — |
| Goodwill | $12.2M | $12.2M | $12.1M | $0 | — | — | — |
| Other intangibles | $31.6M | $36.4M | $42.2M | $0 | — | — | — |
| Total assets | $879.0M | $527.2M | $564.3M | $440.6M | $482.6M | $65.0M | — |
| Accounts payable | $17.8M | $9.5M | $21.3M | $7.1M | $3.1M | $2.1M | — |
| Short-term debt | $230.0K | $170.0K | $1.6M | $0 | — | — | — |
| Total current liabilities | $65.0M | $53.7M | $61.0M | $23.0M | $20.6M | $10.9M | — |
| Long-term debt | $519.3M | $169.8M | $169.1M | $0 | — | — | — |
| Total liabilities | $605.0M | $277.8M | $303.2M | $84.2M | $156.4M | $28.7M | — |
| Retained earnings | -$977.8M | -$821.1M | -$598.8M | -$384.8M | -$333.2M | -$207.3M | — |
| Total equity | $271.2M | $246.7M | $261.1M | $356.4M | $326.1M | $36.2M | $3.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$95.3M | -$108.6M | -$104.6M | -$82.7M | -$51.3M | -$20.1M | — |
| Depreciation and amortisation | $35.1M | $45.0M | $34.0M | $8.0M | $1.5M | $579.0K | — |
| Capital expenditure | $18.2M | $76.2M | $61.8M | $36.2M | $43.6M | $27.0M | — |
| Investing cash flow | -$538.3M | -$1.4M | -$143.0M | -$36.2M | -$43.6M | -$27.0M | — |
| Financing cash flow | $467.4M | $150.7M | $159.6M | $56.5M | $451.1M | $65.9M | — |
| Buybacks | $58.4M | $0 | $0 | $10.0K | $27.0K | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001828318-26-000018.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $0 | $0 | $6.2M | $7.6M | $23.1M | $31.8M |
| Gross profit | — | -$3.4M | -$2.0M | -$17.0M | -$55.4M | -$2.0M | $6.1M |
| Net income | — | -$39.6M | -$125.9M | -$51.6M | -$214.1M | -$222.5M | -$156.6M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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