NASDAQ$ENVX
Enovix Corporation · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Shared progress in the first quarterly shareholder letter as a public company.
Enovix completed its business combination and Nasdaq listing, raising $405 million in gross proceeds and $382 million net. The company is scaling up production facilities to meet customer demands and shipped final technology qualification samples to key customers.
- Completed business combination with Rodgers Silicon Valley Acquisition Corp. (RSVAC) and Nasdaq listing (ENVX).
- Received approximately $405 million in gross proceeds and $382 million net from the transaction.
- Shipped final technology qualification samples from pilot production line to key customers.
- Potential value of a full year of production from design wins and active designs reached $292 million.
Headline financials
Revenue & EPS history
Enovix · Revenue · Quarterly
$7.6M
Forward guidance
Enovix expects to make meaningful progress toward our goal of starting production in Q1 2022 with product revenue in Q2 2022. With the proceeds from the SPAC merger and associated PIPE offering, we are well-capitalized and remain on track to fund our plan.
Tailwinds
- Starting production in Q1 2022
- Product revenue in Q2 2022
- Well-capitalized
- On track to fund our plan
- Expanding patent portfolio efforts to further protect our unique 3D architecture globally
Headwinds
- Use between $110 million and $120 million of free cash flow for full-year 2021
- Capital expenditures
- Extended lead times in the supply chain
- Increasing capacity for new designs and custom cell development in response to increasing demand and an expanding customer base
- Building out infrastructure to support a global customer base, including sales and customer support
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2021
+1.6%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+3.5%
Avg return
30 days after
52%
11 / 21 earnings
Positive
+51.3%
Q1 2024
Best reaction
-44.2%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.4% | -14.9% | -4.6% | |
| Q4 2025 | -3.3% | -17.6% | -15.0% | |
| Q3 2025 | +0.7% | +4.5% | -33.3% | |
| Q1 2025 | -8.4% | -9.1% | +13.7% | |
| Q4 2024 | +2.6% | -15.6% | -24.5% | |
| Q3 2024 | -8.2% | -20.8% | -19.1% | |
| Q2 2024 | -17.4% | -19.2% | -32.5% | |
| Q1 2024 | +51.3% | +56.2% | +69.6% | |
| Q4 2023 | -12.3% | -22.0% | -29.1% | |
| Q3 2023 | +15.3% | +2.5% | +10.7% | |
| Q2 2023 | -2.0% | +13.1% | -26.8% | |
| Q1 2023 | -16.8% | -13.7% | -4.3% | |
| Q4 2022 | +16.3% | +7.7% | +41.0% | |
| Q3 2022 | -44.2% | -43.1% | -34.9% | |
| Q2 2022 | +46.6% | +72.3% | +46.1% | |
| Q1 2022 | +3.3% | +3.1% | +46.2% | |
| Q3 2020 | +4.6% | +6.0% | -21.5% | |
| Q3 2021 | +0.5% | +14.3% | +12.3% | |
| Q4 2020 | -5.8% | -4.1% | +11.0% | |
| Q2 2021 | -4.8% | -3.8% | +7.9% | |
| Q1 2021 | +12.1% | +23.8% | +60.7% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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