ENVX Earnings Prediction
The chart below shows how ENVX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ENVX sees a +1.53% change in stock price 10 days leading up to the earnings, and a +7.87% change 10 days following the report. On the earnings day itself, the stock moves by +0.03%. This data can give you a slight idea of what to expect for the next quarter's release.
ENVX Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
4.32M
2058.50%
14.57%
Gross Margin
-14.87%
-99.82%
-14.44%
Operating Margin
-1056.43%
-95.54%
-21.34%
Net Margin
-524.39%
-93.52%
-82.96%
EPS
-0.13
-30.00%
-80.60%
No Data Available
ENVX Earnings Analysis
Enovix Corporation Common Stock Corporation (ENVX.O) Earnings Conference Call
Positive
Q3 Revenue Performance: We delivered a Q3 revenue of $4.3 million above the midpoint of our forecast.
Sequential Growth Expectation: We grew 13% sequentially and expect even further growth in Q4.
Fab 2 Opening in Malaysia: We opened our Fab 2 in Malaysia, which was a huge deal for us, impressing leading smartphone and IoT companies.
New OEM Battery Agreement: We executed a new agreement with a leading global smartphone OEM for the qualification of our battery cells.
Q4 2024 Revenue Forecast: We expect revenue in the range of $8 million to $10 million for Q4 2024.
Negative
EBITDA Loss Analysis: Non-GAAP EBITDA came in at a loss of $21.6 million above our guidance range of a loss of $23 million to $29 million.
Cash Position and Expenditures: We ended the quarter with roughly $200 million of cash and equivalents, and we had CapEx of about $19 million and $31 million of cash used in operations during the third quarter.
Q4 2024 Financial Projections: For the fourth quarter of 2024, we expect revenue in the range of $8 million to $10 million and adjusted EBITDA loss of $19 million to $25 million and non-GAAP EPS loss of $0.17 to $0.23.
Q2 Productivity Challenges: We had a very productive second quarter, but we are still facing challenges in customer qualification processes and ramping high volume lines, which could delay revenue recognition.
Capital Raising for Profitability: We are expecting to raise capital at some point to achieve our long-term target of profitability.
ENVX FAQs
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ENVX Earning Call Sentiment
Enovix Corporation (ENVX) Q3 2024 Earnings Call Transcript
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ENVX.O
-9.58%Positive
The earnings call summary presents a mixed picture. While revenue exceeded expectations and new partnerships were announced, significant challenges remain, such as ongoing financial losses, cash flow concerns, and competitive pressures. The Q&A section reveals some positive aspects like a first-mover advantage and premium pricing, but also highlights uncertainties in customer qualification and market demand. The company's strong cash position is a positive, but the operational challenges and financial losses temper overall sentiment. Given the market cap, the stock price is likely to remain stable in the near term.