Enovix Corp President and CEO Rajendra K. Talluri reported a tax-related share disposition tied to equity compensation. On the vesting of restricted stock units, 17,650 shares of common stock were withheld at $5.93 per share to satisfy tax withholding obligations, rather than sold on the open market.
After this withholding, Talluri directly holds 3,058,195 shares of Enovix common stock. This includes 1,997,944 shares issuable upon vesting and settlement of RSUs, plus 47,775 vested PRSUs scheduled for release in March 2027 and 259,611 additional PRSUs to be released in April 2027 and April 2028.
Enovix Corp Chief Accounting Officer Kristina Truong reported a routine tax-related share disposition. On the RSU vesting date, 1,014 shares of common stock were withheld at $7.29 per share to cover tax obligations, rather than sold in the open market.
After this withholding, she directly holds 312,932 shares, which include 221,086 shares tied to unvested RSUs and vested performance RSUs totaling 2,489 shares scheduled for release in March 2027 and 35,278 shares scheduled for release in April 2027 and April 2028.
Enovix Corporation reported another quarterly loss while growing revenue as it scales advanced lithium-ion battery production. For the fiscal quarter ended April 5, 2026, revenue rose to $7.6 million from $5.1 million a year earlier, driven mainly by defense, industrial and consumer electronics shipments from South Korea.
Gross profit improved to $1.6 million, a margin of about 20%, but heavy research and development and selling, general and administrative spending kept the business unprofitable. Net loss widened to $38.3 million compared with $23.5 million in the prior-year quarter as interest expense increased following additional convertible note issuance.
Enovix ended the quarter with $582.7 million in cash, cash equivalents and investments and working capital of $507.6 million, and it expects this liquidity to cover funding needs for at least the next 12 months while it ramps its Fab2 facility in Malaysia and advances AI-focused and defense-oriented battery products.
Enovix Corporation reported first quarter 2026 revenue of $7.6 million, up 49% year-over-year and above the high end of its guidance. Growth was driven mainly by defense and industrial shipments from its South Korea operations. GAAP gross margin improved to 20.4%, while non-GAAP gross margin reached 26.3%, marking a sixth consecutive quarter of positive gross profit.
The company posted a GAAP net loss of $38.3 million, or $0.18 per share, and a non-GAAP net loss of $29.5 million, or $0.14 per share. Net cash used in operating activities was $33.1 million, and free cash flow was an outflow of $36.3 million. Enovix ended the quarter with $582.7 million in cash, cash equivalents and marketable securities.
Operationally, Enovix advanced smartphone battery qualification, began initial smart eyewear battery shipments, and launched its MX-1 drone battery platform. For the second quarter of 2026, it guided revenue to $8.0–$9.0 million, non-GAAP loss from operations to $29.0–$32.0 million, and capital expenditures to $9.0–$13.0 million.
Enovix Corp Chief Accounting Officer Kristina Truong reported a tax-related share withholding, where 253 shares of common stock were withheld at $6.61 per share to satisfy obligations from vesting restricted stock units.
After this disposition, she holds 313,946 shares directly. Her position includes 223,001 shares tied to unvested RSUs and vested performance RSUs consisting of 2,489 PRSUs scheduled for release in March 2027 and 35,278 PRSUs, half to be released in April 2027 and the remainder in April 2028. The holdings also include 2,045 shares acquired under the 2021 Employee Stock Purchase Plan on May 8, 2026.
Enovix Corp Chief Legal Officer Arthi Chakravarthy reported a routine tax-related share disposition. On May 8, 2026, 936 shares of Enovix common stock were withheld at $6.61 per share to cover tax withholding obligations tied to the vesting of restricted stock units (RSUs), rather than being sold in the open market.
After this withholding, Chakravarthy beneficially owns 603,555 shares, including 395,392 shares issuable upon future RSU vesting, 10,393 vested performance restricted stock units (PRSUs) scheduled for release in March 2027, and an additional 58,500 PRSUs expected to be released in April 2027 and April 2028.
Enovix Corp President and CEO Rajendra K. Talluri reported a routine tax-related share disposition. On May 8, 2026, 4,300 shares of common stock were withheld at $6.61 per share to satisfy tax obligations from the vesting of restricted stock units. After this withholding, he directly holds 3,075,845 shares, including 2,031,277 shares issuable upon RSU vesting and additional performance RSUs scheduled for release in 2027 and 2028.
Enovix Corporation has appointed industry veteran Steve Bakos as Senior Vice President of Worldwide Sales, a new role reporting to Chief Business Officer Samira Naraghi. The move supports commercial scale-up and revenue growth as Enovix prepares to launch its flagship 100% silicon-anode smartphone batteries and continues scaling its silicon-enhanced products from Korea.
Bakos brings more than 35 years of global semiconductor sales experience, including leading major accounts such as Apple at Infineon and prior VP roles at multiple analog and power semiconductor companies. Enovix also highlighted expanding commercial momentum across smartphones, smart eyewear, drones and defense applications.
The company announced it has reached alignment with its lead smartphone customer on a new silicon-specific qualification framework that better mirrors real-world conditions than legacy 0.7C testing. This updated testing extends duration and is producing results that are approaching required performance thresholds, which Enovix believes helps remove a key structural barrier to qualification and supports broader commercial opportunities.
Enovix Corp Chief Legal Officer Arthi Chakravarthy reported a compensation-related share disposition tied to tax withholding. On this Form 4, 2,221 shares of Enovix common stock were withheld at $6.61 per share to satisfy tax obligations arising from the vesting of restricted stock units.
After this tax-withholding event, Chakravarthy holds 604,491 shares of Enovix common stock directly. This figure includes 397,158 shares issuable upon vesting and settlement of RSUs, 10,393 vested performance RSUs scheduled for release in March 2027, and 58,500 additional PRSUs to be released in April 2027 and April 2028.
Enovix Corporation filed its Annual Report on Form 10-K for the fiscal year ended December 28, 2025. The company describes its proprietary 3D silicon-anode cell architecture and the AI-1™ battery platform, reports manufacturing expansion in Malaysia and South Korea, and states Fab2 passed ISO 9001 and customer audits. The report discloses a volumetric energy density test of 935Wh/L for the AI-1 smartphone cell and highlights ongoing scale-up, supply-chain, and qualification risks.