Enovix reports Q EPS (19c), consensus (16c)

Reports Q4 revenue $1.1M, consensus $900K. "Our team spent much of Q4 2022 prioritizing yield, throughput as measured by units per hour , and equipment uptime improvements, which setthe stage for a strong ramp to finish the quarter. The 4,442 cells shipped exceeded our internal goal and positioned us for much higher output to start 2023 given significant yield improvements. Our volume-weighted average yield over the last four weeks of Q4 2022 was42.9%, up from 16.4% to finish Q3 2022. We believe that a major contributor to this improvement was the deployment of shared goals across a virtual organization of eleven cross-functional module teams, including Process, Equipment, Mechanical, Controls, Integration, Product Engineering, and Maintenance. Under the direction of new Operations leadership, we believe these continuous improvement efforts will continue to bear fruit moving forward."