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Company Overview Enovix Corporation (the Company, we, us, our and Enovix ) is a global high-performance battery company focused on designing, developing, manufacturing, and commercializing advanced Lithium-ion, or Li-ion, batteries, including proprietary silicon-anode architectures, for smartphones, smart eyewear, defense, industrial and emerging edge-AI applications. Our proprietary silicon-an…
The business is unprofitable at the operating level (-557.03% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 37.9% YoY with margins expanding 494.7pp.
Negative free cash flow of -$114M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$34M
▲ +37.9% YoY
Net Income (TTM)
-$171M
▲ +29.5% YoY
Op. Margin
-520.32%
▲ +494.7pp YoY
ROIC
-19.91%
▲ +20.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$127M
▲ +38.6% YoY
Op. Cash Flow (TTM)
-$111M
▲ +12.3% YoY
Net Debt
$15M
Cash & Equiv.
$529M
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