Earnings ·
Enovix Corporation reported second quarter 2026 financial results on August 12, 2026
ENVXEnovix Corp
Enovix Corporation reported second quarter 2026 financial results on August 12, 2026. Revenue reached $9.0 million, a 21% year-over-year increase and at the high end of guidance, bringing first-half revenue to $16.6 million. The company achieved its seventh consecutive quarter of positive gross profit with a GAAP margin of 14.4%. Enovix ended the quarter with approximately $552.1 million in cash, cash equivalents, and marketable securities. Commercially, the lead smartphone customer confirmed passing more than 1,000 cycles under specific discharge tests, with final qualification testing expected to conclude in 2026. Smart eyewear shipments are ramping significantly, with approximately 19,000 packs ordered for the third quarter against a total 50,000-pack annual order. The drone and defense pipeline expanded by 41% to $183 million. Enovix operates in the advanced lithium-ion battery manufacturing industry, specializing in silicon-anode architectures for consumer electronics and industrial applications.