Enovix reported preliminary third-quarter 2026 revenue of $11.0 million, a 38% increase year-over-year and above the $9–$10 million guidance range. The company highlighted growth in its drone and defense pipeline, which expanded to approximately $216 million, with the drone segment alone growing 48% to $150 million. Enovix also announced a leadership realignment, promoting Steve Bakos to Chief Revenue Officer and General Manager to lead global sales and business development. The firm is investing $19 million to double capacity at its Korean manufacturing plant to support defense production. Enovix develops and manufactures advanced lithium-ion batteries for consumer electronics, smart eyewear, and defense applications.
