Enovix Corporation
enovix.comWhat Do They Do?
Makes lithium-ion batteries and battery packs for defense and industrial customers, as well as silicon-anode batteries for smartphone and smart-eyewear makers and other AI-enabled device makers.
10-K for FY2025, filed Feb 25, 2026Enovix Corporation (the “Company,” “we,” “us,” “our” and “Enovix”) is a global high-performance battery company focused on designing…View ↗
To date, we have concentrated our operational efforts on researching, developing and commercializing the next generation technology behind…View ↗
Revenue increased throughout the year to $31.8 million, representing 38% year-over-year growth, with defense shipments remaining our…View ↗
How Do They Make Money?
Makes money by selling lithium-ion batteries and battery packs. Customers generally pay within 90 days or less after delivery or acceptance; customized products may be paid for after customer acceptance.
10-K for FY2025, filed Feb 25, 2026
$31.8M
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10-K for FY2025, filed Feb 25, 2026
$31.8M ↗
Who Are Their Customers?
Customers include smartphone OEMs, smart-eyewear OEMs and ODMs, and defense and industrial buyers. Enovix works with customers through qualification programs, samples, and supply agreements.
10-K for FY2025, filed Feb 25, 2026Over the last several years, we have continued to refine our go-to-market approach and focused on advancing customer programs and product…View ↗
Most recently, we partnered with a top-tier mobile original equipment manufacturer (“OEM”) on the development of our AI-1TM smartphone…View ↗
Revenue increased throughout the year to $31.8 million, representing 38% year-over-year growth, with defense shipments remaining our…View ↗
10-K for FY2025, filed Feb 25, 2026
For the fiscal year 2025, we had two customers, who had revenues greater than 10% of the total revenues. Customers D and E accounted for…View ↗
Do Revenues Turn Into Profits?
No. It lost $156.7M in FY2025.
10-K for FY2025, filed Feb 25, 2026
−$177.3MView ↗
10-K for FY2025, filed Feb 25, 2026
−$156.7MView ↗
10-K for FY2025, filed Feb 25, 2026
−$113.5MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 12, 2026
−$43.1MView ↗
- ▼ −3% (Loss)
- vs −$44.5M in Q2 FY2025
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Aug 17, 2026
CEO resigns; CFO appointed interim CEO
The board appointed T.J. Rodgers executive chairman and began a search for a permanent CEO.
Sources
8-K, filed Aug 17, 2026
On August 13, 2026, Dr. Raj Talluri, President, Chief Executive Officer and a director of Enovix Corporation (the “Company” or “Enovix”)…View ↗
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Aug 12, 2026
Company sets third-quarter revenue guidance
Guidance is $9.0 million to $10.0 million, up approximately 13% to 25% year over year.
Sources
8-K, filed Aug 12, 2026
Revenue of $9.0 million, up 21% year-over-year and 19% sequentially, at the high end of guidance — fifth consecutive quarter of…View ↗
Expanded battery offerings
The earlier report focused on next-generation lithium-ion battery cells; the latest also describes conventional lithium-ion and silicon-doped graphite batteries for defense and industrial customers.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 25, 2026Enovix Corporation (the “Company,” “we,” “us,” “our” and “Enovix”) is on a mission to power the technologies of the future. We do this by…View ↗
More targeted qualification focus
The earlier report described opportunities across portable electronics and electric vehicles; the latest puts smartphone qualification first and also targets smart eyewear, defense, industrial and other edge-AI applications.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 25, 2026Over the last several years, we have continued to refine our go-to-market approach and focused on advancing customer programs and product…View ↗
To date, we have concentrated our operational efforts on researching, developing and commercializing the next generation technology behind…View ↗
Drones represent another priority area of focus, as we believe our products provide a strong competitive advantage for serving customers…View ↗
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