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 (Nasdaq: ENVX) regularly issues news and updates that highlight its progress in advanced lithium-ion battery technology, commercialization milestones and capital markets activity. As a company focused on proprietary 100% active silicon-anode architectures and high-energy-density cells, its announcements often center on technology validation, customer engagements and manufacturing scale-up.
Recent news has featured the AI-1™ smartphone battery, which Enovix reports achieved 935 Wh/L volumetric energy density in independent testing by Polaris Battery Labs, outperforming a leading silicon-doped smartphone battery tested under the same conditions. Other releases describe validation by an independent testing firm and a leading smartphone OEM that AI-1 batteries deliver the highest energy density among smartphone cells they evaluated, as well as progress with a lead smartphone customer advancing toward commercial launch.
Investors following ENVX news can also track updates on smart eyewear and defense programs, shipments to defense customers, and expansion of manufacturing capabilities at Fab2 in Malaysia and a Korea-based cell-manufacturing facility. Financial news items include quarterly results, non-GAAP metrics commentary, and details on initiatives such as a warrant dividend program, a share repurchase authorization, and a private offering of 4.75% Convertible Senior Notes due 2030.
This news page helps readers monitor Enovix’s announcements about product performance, customer programs, factory readiness, financing transactions and corporate developments. For those analyzing ENVX stock or the broader silicon-anode battery space, the company’s press releases provide context on how its technology, capital structure and global footprint are evolving over time.
Enovix (Nasdaq: ENVX) has signed a non-binding Memorandum of Understanding (MOU) with a high-performance, global automotive OEM to scale its cell architecture for the EV market. The agreement focuses on cell design and performance validation at the cell, pack, and vehicle levels. Enovix's unique cell design offers advantages in fast charging, swell management, and material flexibility.
Key benefits of Enovix cells include:
- Improved thermal distribution for faster charging and longer lifetime
- Simplified pack assemblies with smaller cooling systems
- swelling during charge/discharge cycles
- Compatibility with high-performing materials, potentially extending OEM roadmaps
This marks Enovix's second agreement with an automotive OEM, validating the potential of their battery design in the EV market.
Enovix (Nasdaq: ENVX) reported its Q2 2024 financial results, highlighting significant progress. Key points include:
1. Revenue of $3.8 million, up from $42,000 in Q2 2023.
2. Signed agreement with a leading California tech company for mixed reality headset batteries.
3. Collaboration with a Fortune 200 company for IoT product batteries.
4. MOU with a global automotive OEM for scaling Enovix architecture.
5. Began production in Malaysia on the Agility Line.
6. On track for over $35 million in annualized savings from relocating manufacturing.
7. Completed an ATM offering to strengthen the balance sheet.
For Q3 2024, Enovix expects revenue between $3.5-$4.5 million, with a GAAP EPS loss of $0.30-$0.36 and a non-GAAP EPS loss of $0.17-$0.23.
Enovix (Nasdaq: ENVX) has signed a collaboration agreement with a Fortune 200 company to provide silicon batteries for a fast-growing IoT product category. The agreement includes milestone payments for building and testing prototype batteries, with a path toward mass production. Enovix's proprietary technology replaces graphite with a 100% active silicon anode, offering enhanced flexibility for product designers to create elegant form factors without sacrificing battery capacity. The collaboration aims to deliver a smaller form factor while meeting energy and recharge needs for a product category with tens of millions of users globally.
Enovix (Nasdaq: ENVX), a global high-performance battery company, has announced it will release its second quarter 2024 financial results on Wednesday, July 31, 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 accessible via the Investor Relations section of Enovix's website. Investors have the opportunity to submit questions during registration for management to address during the call. An archived version of the call will be available on the Enovix investor website for one year.
Enovix (Nasdaq: ENVX), a leading global high-performance battery company, announced the grand opening of its high-volume production facility, Fab2, in Penang, Malaysia, on August 8, 2024. The event will host customers, investors, business partners, and local officials, offering them a tour of the facility and insights from Enovix executives.
Enovix's COO, Ajay Marathe, highlighted the achievement of the Malaysia team, which now includes nearly 300 people. Fab2, located in the Penang Science Park, is designed to accommodate up to four high-volume production lines, capable of producing tens of millions of high-performance batteries for devices like smartphones, IoT gadgets, and laptops. Initial samples have already been produced, and the first high-volume production line is nearing completion to meet customer demands. A video tour of the facility will be available shortly after the event for those unable to attend.
Enovix (Nasdaq: ENVX), a leader in high-performance battery technology, has signed a Memorandum of Understanding (MOU) with Elentec (Kosdaq: 054210: KQ), a major battery pack manufacturer for consumer electronics in Asia, known for serving clients like Samsung. The MOU aims to establish a long-term business relationship, allowing Enovix to leverage Elentec's design and manufacturing capabilities for its growth worldwide. The collaboration focuses on the custom development and incorporation of Enovix's innovative battery cells into various battery packs for consumer, industrial, and military applications. Enovix's President and CEO, Dr. Raj Talluri, highlighted the potential for accelerated R&D and commercialization through this partnership. Elentec's CEO, Mr. Lee Hae Sung, emphasized the strategic benefits of integrating Enovix's high-performance silicon cell technology into Elentec's product offerings.
Enovix (Nasdaq: ENVX) has signed an agreement with a leading California-based tech company to supply silicon batteries and packs for a mixed reality headset. Enovix will receive an upfront payment for tooling, followed by payments for sample and production deliveries. The mixed reality market demands lightweight, high-energy-density batteries, and Enovix's silicon anode technology promises to meet these needs. The market for VR and AR headsets is expected to grow to 35 million units by 2028. Enovix's production of EX-1M silicon batteries began in its Malaysia facility in June 2024, following initial samples sent in May. The agreement highlights Enovix's strategy to cater to high-demand battery requirements in the mixed reality sector.
Enovix has started customer sampling of its breakthrough EX-1M battery, aimed at IoT and smartphone customers. The company plans to ramp up production in Malaysia, consolidating manufacturing to reduce costs and accelerate profitability.
Enovix , trading under the ticker symbol ENVX on Nasdaq, will be participating in several investor conferences in May and June 2024. The company will present at prestigious events such as J.P. Morgan's Global Technology, Media, and Communications Conference, B. Riley's Institutional Investor Conference, Craig-Hallum's Institutional Investor Conference, and William Blair's Growth Stock Conference. Interested parties can access live webcasts of the presentations on the Enovix website and request meetings through their sales representative.
Enovix announced its first-quarter 2024 financial results, revealing revenue growth to $5.3 million, FAT completion for Gen2 Agility Line and near completion for Gen2 Autoline in Malaysia, plans to reduce fixed costs by over $35 million annually, and strong progress with leading smartphone OEMs and IoT customers. The company aims to begin battery production in Fab2 and ship first EX-1M samples in the second quarter of 2024.
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