Enovix Corporation (Nasdaq: ENVX) Preliminary Second Quarter 2025 Financial Results

# Enovix Corporation (Nasdaq: ENVX) Preliminary Second Quarter 2025 Financial Results

## Release Date: July 7, 2025

Enovix Corporation, a global high-performance battery company, has reported its preliminary selected unaudited financial results for the second quarter ended June 29, 2025. The company highlighted strong financial performance for the quarter, citing significant growth in revenue and improvements in various key metrics compared to the same quarter a year ago.

### Summary of Financial Results:
– **Revenue**:
– Revenue for Q2 2025 was $7.5 million, exceeding the guidance range and showing a remarkable growth of **98%** year over year.
– Driven by customer demand across multiple end markets.

– **Gross Profit**:
– **GAAP Gross Profit** was $0.8 million, whereas **non-GAAP Gross Profit** was $1.2 million, marking the third consecutive quarter of positive gross profit.
– This is a significant improvement from the gross loss reported in the second quarter of 2024.

– **Operating Loss**:
– **GAAP Operating Loss** was $43.8 million, while **non-GAAP Operating Loss** was $27.8 million.
– The company beat its guidance range and showed substantial improvement compared to the second quarter of 2024.

– **Net Loss**:
– **GAAP Net Loss Attributable to Enovix** was $43.3 million, an improvement from the same quarter in 2024.
– **Non-GAAP Net Loss Attributable to Enovix** was $28.4 million for Q2 2025.

– **Adjusted EBITDA**:
– **Adjusted EBITDA Loss** narrowed to $21.4 million, ahead of the guidance range and an improvement from the same period a year ago.

– **Net Loss Per Share**:
– **GAAP net loss per share** attributable to Enovix was $0.22, while **non-GAAP net loss per share** was $0.15, showing improvement compared to the second quarter of 2024.

– **Cash Position**:
– Cash, cash equivalents, and short-term investments stood at approximately $203 million as of June 29, 2025, following strategic capital expenditure payments.

The company’s CEO, Dr. Raj Talluri, expressed satisfaction with the results, noting the fifth straight quarter of exceeding midpoints of revenue and adjusted EBITDA guidance. Enovix remains focused on executing its plans, building momentum, and gearing up for significant scaling with new products and customers.

### Dividends and Share Repurchase:
Enovix’s financial report does not mention any declaration of a quarterly dividend or any share repurchase programs.

### Non-GAAP Financial Measures:
Enovix provided non-GAAP financial measures to offer investors additional tools in evaluating ongoing performance and comparing results with similar companies. These include non-GAAP Gross Profit, non-GAAP Operating Loss, Adjusted EBITDA, non-GAAP net loss attributable to Enovix, and non-GAAP net loss per share.

### Forward-Looking Statements:
The company’s forward-looking statements in the press release outlined expectations for performance and financial results in the second quarter of 2025. Enovix highlighted potential risks and uncertainties that could impact actual results, urging investors to consider these factors.

Enovix will host its Q2 2025 earnings call and webcast later in late July or early August for a detailed discussion on the financial results.

For more information about Enovix and its operations, visit [Enovix’s website](https://enovix.com).

Contact information for investors:
– Robert Lahey ([email protected])
– Chief Financial Officer Ryan Benton ([email protected])

### Reconciliation and Financial Tables:
– The tables provided in the press release detail reconciliations of GAAP to non-GAAP financial measures, including Gross Profit, Operating Loss, Net Loss, and Net Loss Per Share.

These financial tables offer investors insights into Enovix’s financial performance beyond standard GAAP measures, providing a comprehensive view of the company’s operations.

### Income Statement (in thousands)