--- title: "Enovix | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 7.6 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286312648.md" datetime: "2026-05-13T20:26:49.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286312648.md) - [en](https://longbridge.com/en/news/286312648.md) - [zh-HK](https://longbridge.com/zh-HK/news/286312648.md) --- # Enovix | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 7.6 M Revenue: As of FY2026 Q1, the actual value is USD 7.6 M, beating the estimate of USD 6.953 M. EPS: As of FY2026 Q1, the actual value is USD -0.18, beating the estimate of USD -0.1924. EBIT: As of FY2026 Q1, the actual value is USD -42.66 M. #### Revenue - **First Quarter 2026:** GAAP Revenue was $7.6 million, a 49% increase year-over-year . Non-GAAP Revenue was $7.6 million . - **First Quarter 2025:** GAAP Revenue was $5.1 million . Non-GAAP Revenue was $5.1 million . #### Gross Profit - **First Quarter 2026:** GAAP Gross Profit was $1.6 million . Non-GAAP Gross Profit was $2.0 million . - **First Quarter 2025:** GAAP Gross Profit was $0.3 million . Non-GAAP Gross Profit was $0.4 million . #### Gross Margin - **First Quarter 2026:** GAAP Gross Margin was 20.4% . Non-GAAP Gross Margin was 26.3%, marking the sixth consecutive quarter of positive gross profit . - **First Quarter 2025:** GAAP Gross Margin was 5.1% . Non-GAAP Gross Margin was 7.5% . #### Operating Expenses - **First Quarter 2026:** GAAP Operating Expenses were $45.4 million . Non-GAAP Operating Expenses were $30.8 million . GAAP Research and development (R&D) expense was $26.528 million . GAAP Selling, general and administrative (SG&A) expense was $18.919 million . - **First Quarter 2025:** GAAP Operating Expenses were $42.8 million . Non-GAAP Operating Expenses were $28.3 million . GAAP Research and development (R&D) expense was $25.929 million . GAAP Selling, general and administrative (SG&A) expense was $16.892 million . #### Loss from Operations - **First Quarter 2026:** GAAP Loss from Operations was - $43.9 million . Non-GAAP Loss from Operations was - $28.8 million . - **First Quarter 2025:** GAAP Loss from Operations was - $42.6 million . Non-GAAP Loss from Operations was - $28.0 million . #### Net Loss Attributable to Enovix Corporation - **First Quarter 2026:** Net Loss Attributable to Enovix Corporation was - $38.260 million . - **First Quarter 2025:** Net Loss Attributable to Enovix Corporation was - $23.510 million . #### Adjusted EBITDA - **First Quarter 2026:** Adjusted EBITDA was - $20.3 million . - **First Quarter 2025:** Adjusted EBITDA was - $20.8 million . #### Cash Flow - **Net Cash Used in Operating Activities:** In the First Quarter 2026, Net Cash Used in Operating Activities was - $33.1 million . In the First Quarter 2025, it was - $16.9 million . - **Free Cash Flow:** In the First Quarter 2026, Free Cash Flow was - $36.3 million . In the First Quarter 2025, it was - $23.2 million . #### Liquidity - Cash, cash equivalents, and marketable securities totaled approximately $582.7 million at quarter-end . Cash and cash equivalents were $88.751 million as of April 5, 2026, compared to $106.014 million as of December 28, 2025 . #### Capital Expenditures - **First Quarter 2026:** Capital expenditures were - $3.220 million . - **First Quarter 2025:** Capital expenditures were - $6.272 million . #### Operational Metrics and Commercialization Progress - **Smart Eyewear Battery:** Enovix Corporation has begun initial shipments and expects to ramp manufacturing in Q3 to support a leading smart eyewear reference platform, aiming to produce approximately 50,000 units in 2026 . - **Smartphone Qualification:** Enovix Corporation is advancing qualification with its lead smartphone customer, having passed 72 of 75 battery specifications, and targets system-level deployment in the second half of 2026 . Discussions are ongoing with a second smartphone OEM regarding a consistent replacement framework for legacy cycle-life tests . - **Emerging Markets:** Enovix Corporation secured new customer design wins in drone, defense, and industrial applications in Q1 2026, with deployments expected in 2027, contributing to a global pipeline exceeding $130 million from Korea-manufactured products . - **MX-1 Drone Product:** Enovix Corporation launched MX-1, its first silicon-enhanced product line for rugged applications manufactured in South Korea, featuring 360 Wh/kg energy density . A next-generation product is targeted for 2027 with a goal of reaching 400 Wh/kg . - **AI-2 Engineering Samples:** Enovix Corporation produced its first AI-2 engineering samples, a next-generation smart eyewear battery expected to deliver over 20% higher volumetric energy density than AI-1, with customer sampling planned for Q2 2026 . - **Manufacturing Readiness:** Zone 1 dicing in Fab2 achieved a step-level yield of approximately 80% in Q1, and all but two manufacturing steps now yield above 90% . #### Outlook / Guidance - For the Second Quarter 2026, Enovix Corporation expects revenue between $8.0 million and $9.0 million . Non-GAAP loss from operations is projected to be - $29.0 million to - $32.0 million, with non-GAAP net loss per share anticipated at - $0.13 to - $0.17 . 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