Enovix Q2 revenue $3.8M, beats guidance; Malaysia Agility Line producing first batteries

Enovix Corp

2024-Q2 EPS reported -$0.95 revenue$9,040,000

GAAP net loss $115.9M vs $46.4M in Q1; includes $38.1M restructuring and $33.7M warrant expense.
Non-GAAP EPS loss $0.14; adjusted EBITDA loss $23.1M; cash & equivalents $249.9M at quarter-end.
Signed agreements with California tech company (mixed reality headset) and Fortune 200 firm (IoT).
Second automotive OEM MOU signed in 2024; Malaysia Agility Line operational, Gen2 Autoline FAT done.
Q3 guidance: revenue $3.5-4.5M, GAAP EPS loss $0.30-0.36, non-GAAP EPS loss $0.17-0.23.

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