---
schema_version: "secwatch.filing_event.v1"
accession: "0001828318-24-000062"
form_type: "8-K"
ticker: "ENVX"
cik: "0001828318"
company_name: "Enovix Corp"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:12:25.377602+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Enovix Q1 revenue $5.3M beats guidance; non-GAAP gross profit positive for first time

## Summary
- Revenue of $5.3M (up from $21K YoY) exceeded guidance of $3.5-4.5M; non-GAAP gross profit turned positive.
- GAAP EPS loss $0.28; non-GAAP EPS loss $0.31; Adjusted EBITDA loss $26.3M.
- Fab2 Gen2 Agility Line FAT complete; EX-1M sampling in Q2; development deal with top-5 smartphone OEM.
- Targeting >$35M annual fixed cost cut by year-end; cash $262.4M at quarter-end.
- Q2 2024 guidance: revenue $3-4M, adjusted EBITDA loss $26-32M, non-GAAP EPS loss $0.22-0.28.

## SEC filing metadata
- accession: 0001828318-24-000062
- form_type: 8-K
- ticker: ENVX
- cik: 0001828318
- company_name: Enovix Corp
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828318/000182831824000062/0001828318-24-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828318/000182831824000062/envx-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001828318-24-000062
- JSON: https://secwatch.observer/filing/0001828318-24-000062.json
- Plain text: https://secwatch.observer/filing/0001828318-24-000062.txt

## Key facts
- Earnings Releases
  Enovix Corp reported first fiscal quarter ended March 31, 2024 results: revenue $5.3 million.
  - Period: first fiscal quarter ended March 31, 2024
  - Revenue: $5.3 million
  - Result: reported results
  source text: collaborating with leading customers ahead of shipping first samples of our breakthrough EX-1M battery. Our recent highlights include: • Strong top-line growth: Revenue of $5.3 million in the first quarter of 2024, up from $21,000 in the first quarter of 2023 and above our forecast of $3.5 million to $4.5 million due to outperformance from batteries sold to IoT
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828318/000182831824000062/0001828318-24-000062-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.