Enovix reports record Q4 revenue $9.7M; first positive gross margin; smartphone samples shipped

Enovix Corp

2024-FY EPS reported -$1.27 revenue$23,074,000

Q4 revenue $9.7M (record), full-year $23.1M, up 202% YoY; first positive GAAP gross margin of $1.1M (11% of sales).
GAAP net loss $37.5M ($0.20 EPS loss); non-GAAP EPS loss $0.11; adjusted EBITDA loss $11.7M improved from -$21.6M Q3.
Cash and equivalents $272.9M at year-end; Q1 2025 guidance: revenue $3.5M-$5.5M, GAAP EPS loss $0.23-$0.29.
Shipped early smartphone battery samples to lead OEM; secured purchase orders from 7 of top 8 smartphone OEMs and an AI/XR leader.
Fab2 in Malaysia completed Site Acceptance Testing for HVM line; first EX-2M samples shipped on schedule.

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