Enovix Q3 revenue $4.3M, GAAP net loss $22.5M; opens Fab2, secures second smartphone OEM partnership

Enovix Corp

2024-Q3 EPS reported -$1.07 revenue$13,357,000

Revenue $4.3M (above guidance midpoint), up from $3.8M Q2; GAAP net loss $22.5M improved from $115.9M Q2.
Opened Fab2 in Malaysia; commenced shipping EX-1M cells; completed UN38.3 safety certification.
Signed development agreement with second leading smartphone OEM for mass production launch in late 2025.
Q4 2024 guidance: revenue $8-10M, GAAP EPS loss $0.23-0.29, adjusted EBITDA loss $19-25M.
Cash $200.9M at quarter-end; on track to reduce cash consumption with Malaysia ops.

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