Enovix posted Q1 adjusted loss of $0.14 per share, beating consensus $0.16, with revenue $7.6 million, up 49% YoY.
Shares plunged 14.2% in after‑hours trading as the company disclosed extended smartphone battery qualification timelines with its lead OEM.
Adjusted gross margin rose to 26.3% from 7.5% YoY, and the firm began shipments of smart‑eyewear batteries, targeting 50,000 units in 2026.
For Q2, Enovix guided revenue $8‑9 million (midpoint $8.5 million) and adjusted loss $0.13‑$0.17 per share, while holding $582.7 million cash.