Enovix reports Q3 EPS (14c), consensus (16c)

Reports Q3 revenue $8.0M, consensus $7.93M. The company ended the quarter with cash, equivalents, and marketable securities of $648M. “This quarter was marked by meaningful progress with our lead smartphone customer, as we continued advancing toward commercial launch of our AI-1 cell,” said Raj Talluri, president and CEO of Enovix (ENVX). “Our AI-1 battery has been independently validated as having the highest energy density reported for a smartphone battery, our marquee customer programs are moving towards commercial launch, and our manufacturing capabilities at Fab2 are steadily progressing.”