NASDAQ$ENVX
Enovix Corporation · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Enovix reported record Q4 2024 revenue of $9.7 million, achieving its first-ever positive gross margin.
Enovix delivered record quarterly revenue of $9.7 million, a 30% year-over-year increase, and achieved a positive gross margin of 11%. However, the company reported a GAAP net loss of $37.5 million and an adjusted EBITDA loss of $11.7 million. Cash and cash equivalents stood at $272.9 million at year-end, strengthening its financial position for future expansion.
- Record Q4 2024 revenue of $9.7 million, up 30% year-over-year.
- First-ever positive gross margin of 11%, driven by improved cost efficiencies.
- GAAP net loss of $37.5 million, with an adjusted EBITDA loss of $11.7 million.
- Strong cash position of $272.9 million provides financial flexibility for future growth.
Headline financials
Revenue & EPS history
Enovix · Revenue · Quarterly
$9.72M
Forward guidance
Enovix expects Q1 2025 revenue between $3.5 million and $5.5 million, with continued losses as it ramps up manufacturing.
Tailwinds
- Revenue guidance for Q1 2025 in the range of $3.5M to $5.5M.
- Strong demand in smartphone and IoT markets for its batteries.
- Progress on high-volume manufacturing ramp in Malaysia.
- Continued expansion in the defense and AI-driven battery markets.
- Sufficient liquidity with $272.9M in cash and cash equivalents.
Headwinds
- Expected GAAP EPS loss between $0.23 and $0.29 for Q1 2025.
- Projected adjusted EBITDA loss of $21M to $27M in Q1 2025.
- Manufacturing scale-up challenges could impact short-term profitability.
- High R&D and operating costs continue to pressure margins.
- Stock-based compensation and fair value adjustments remain unpredictable.
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 Q4 2024
+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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