Welcome to our dedicated page for Enovix Corporation news (Ticker: ENVX), a resource for investors and traders seeking the latest updates and insights on Enovix Corporation stock.
Enovix Corporation (ENVX) delivers cutting-edge silicon lithium-ion battery solutions for mobile and IoT markets through its proprietary 3D cell architecture. This dedicated news hub provides investors and industry professionals with essential updates on technological breakthroughs, financial performance, and strategic partnerships.
Access real-time press releases covering product launches, manufacturing milestones, and OEM collaborations with leaders like Intel and Qualcomm. Our curated collection ensures you never miss critical developments or market-moving announcements from this battery technology innovator.
Discover updates across key categories including quarterly earnings, intellectual property advancements, and production capacity expansions. Each entry maintains factual accuracy while highlighting Enovix's unique BreakFlow manufacturing processes and energy density achievements.
Bookmark this page for streamlined tracking of ENVX's progress in redefining energy storage standards. Return regularly to stay informed about this Nasdaq-listed pioneer's role in powering next-generation consumer electronics and industrial applications.
Enovix (ENVX) announced that CFO Farhan Ahmad has departed the company, initiating a search for a new CFO. The company maintains a strong financial position with over $250 million in cash and a reduced cost structure. Executive Chairman T.J. Rodgers emphasized the search will focus on finding a CFO with exceptional investor relations skills and transparent communication style. The company acknowledges feedback from investors regarding communication improvements and commits to maintaining open dialogue with shareholders, particularly concerning operational challenges.
Enovix (Nasdaq: ENVX) has appointed Dr. Hongwei Yan as Chief Technology Officer (CTO), reporting to CEO Dr. Raj Talluri. Dr. Yan brings extensive experience from leading battery companies Samsung SDI and Amperex Technology (ATL), where he achieved a 100% success rate in over 30 battery qualifications for a Tier 1 US mobile customer. His expertise includes 8 patents and 21 peer-reviewed publications in lithium-ion battery technology. In his new role, Dr. Yan will focus on technology development, customer qualification, and scaling up the company's Malaysia high-volume manufacturing plant in 2025.
Enovix (Nasdaq: ENVX), a global high-performance battery company, has announced its participation in two upcoming investor events. The company will take part in an Oppenheimer Fireside Chat with CEO Dr. Raj Talluri on Monday, November 11, 2024, and the J.P. Morgan Equity Opportunities Forum in Miami Beach, Florida on Thursday, November 14, 2024.
Interested portfolio managers and analysts can request meetings through their sales representatives at the sponsoring firms. Recorded webcasts, where available, can be accessed in the Events section under News and Events on the Enovix investor relations website.
Enovix (Nasdaq: ENVX) has successfully completed a secondary equity offering, receiving approximately $96 million net of fees. This capital raise strengthens the company's financial position, with expected year-end 2024 cash levels of approximately $245 million, up from the previous forecast of $150 million. The company cites multiple mass production commitments for 2025 and a growing pipeline for 2026, with plans to use the strengthened balance sheet to fund additional high-volume production lines.
Enovix (NASDAQ: ENVX) has announced the pricing of an underwritten public offering of 10,416,667 shares of common stock, aiming to raise $100 million in gross proceeds. The company has granted underwriters a 30-day option to purchase up to an additional 1,562,500 shares. The offering is expected to close on November 1, 2024. Cantor Fitzgerald & Co. is acting as sole book-running manager. Proceeds will be used for general corporate purposes and to achieve high-volume manufacturing at its Fab2 facility in Penang, Malaysia.
Enovix (NASDAQ: ENVX) has announced a proposed public offering of $100.0 million of common stock shares, with an additional 30-day option for the underwriter to purchase up to $15.0 million of shares. Cantor Fitzgerald & Co. will serve as the sole book-running manager. The proceeds will be used for general corporate purposes and to support high-volume manufacturing at the company's Fab2 facility in Penang, Malaysia. The offering is made pursuant to a shelf registration statement filed with the SEC in August 2023.
Enovix reported Q3 2024 financial results with revenue of $4.3 million, up from $3.8 million in Q2. The company formally opened Fab2 in Malaysia and secured a development agreement with a leading smartphone OEM for mass production launch in late 2025. GAAP net loss was $22.5 million, improved from $115.9 million in Q2. The company ended Q3 with $200.9 million in cash and investments. For Q4 2024, Enovix expects revenue between $8.0-10.0 million and adjusted EBITDA loss of $19.0-25.0 million.
Enovix (ENVX) has signed a development agreement with a leading Chinese smartphone manufacturer (top 5 market share) to develop a 100% active silicon anode battery for specific smartphone models launching in Q4 2025. This marks Enovix's second agreement with major smartphone OEMs, alongside growing momentum in IoT and EV markets. The batteries will be produced at Fab2 in Malaysia, targeting high-volume production for smartphone market entry in 2025, subject to meeting specified milestones.
Enovix (Nasdaq: ENVX), a global high-performance battery company, has announced that it will release its financial results for the third quarter of 2024 on Tuesday, October 29, 2024, after market close. The company will host a live video call at 2:00 PM PT / 5:00 PM ET on the same day to discuss business updates, key milestones, and financial results.
Participants can register for the call using the provided link, which is also available on the Investor Relations section of Enovix's website. Investors have the opportunity to submit questions during registration for the management to address during the call. An archived version of the call will be accessible on the Enovix investor website for one year.
Enovix (Nasdaq: ENVX), a global high-performance battery company, has begun shipping EX-1M battery cell samples from its new Agility Line in Malaysia. This milestone follows the opening of their high-volume Fab2 in Malaysia earlier this summer and marks progress in the company's scaling efforts. Enovix has also completed internal UN38.3 certification for the cells being shipped, ensuring they meet international safety and abuse tolerance standards.
By shipping samples within the third quarter of 2024, Enovix is on track to commence high-volume production in 2025. The company's COO, Ajay Marathe, expressed pride in the Malaysian team's achievement and noted that this success with the Agility line is an encouraging indicator as they prepare for the high-volume line, which is on schedule for Site Acceptance Testing (SAT) completion.
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