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EarningsQ2 2026 Earnings Report
ENVX Q2 2026 EPS Results
Actual EPS-$0.13
Consensus EPS-$0.15
Beat/MissBeat by +$0.02
One Year Ago EPS-$0.13
ENVX Q2 2026 Revenue Results
Actual Revenue$9.02M
Expected Revenue$8.43M
Beat/MissBeat by +$593.00K
YoY Revenue Growth+20.84%
Earnings Announcement Details
QuarterQ2 2026
Date08/12/2026
TimeAfter Close
Conference CallWednesday, August 12, 2026
ENVX Upcoming Earnings
Enovix's next earnings date is estimated for November 10, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
ENVX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed clear operational momentum across three target markets — smartphone qualification progress (lead customer >1,000 cycles), smart eyewear commercial shipments and a rapidly expanding drone/defense pipeline (pipeline +41% to ~$183M) — supported by improving manufacturing yields, new product samples (AI-2, MX1-B01), positive gross profit continuity and a strong cash balance (~$552M). Key near-term risks include a gating accelerated smartphone test (completion targeted end-2026), Zone 1 throughput constraints (yield ~84%), continued operating losses and margin variability during early smart eyewear ramp and capacity scaling timelines (notably South Korea mid-2027). On balance the call emphasized multiple credible paths to commercial scale, commercial traction and disciplined capital planning, while acknowledging expected short-term margin and ramp challenges.Company Guidance
Revenue Growth
Q2 revenue of $9.0M, up 21% year-over-year and 19% sequentially; fifth consecutive quarter of year-over-year revenue growth; Q3 revenue guide $9M–$10M (approx. +13% to +25% YoY).
Positive Gross Profit Streak
GAAP gross profit $1.3M (14.4% GAAP gross margin) and non-GAAP gross profit $1.8M (19.9% non-GAAP gross margin); seventh consecutive quarter of positive gross profit on both GAAP and non-GAAP bases; H1 non-GAAP gross margin 22.8% vs 21.3% prior year.
Strong Cash Position and Improved Cash Flow
Ending cash, cash equivalents and marketable securities approximately $552.1M; net cash used in operating activities improved to $21.8M (vs $25.9M prior-year quarter); free cash flow outflow improved to $31.4M (vs $33.8M prior year).
Smartphone Qualification Milestone
Lead smartphone customer independently confirmed cells passed >1,000 cycles on 0.2C discharge test; final accelerated hybrid cycle-life test underway with expected completion by end of 2026; second OEM moving toward sample deliveries in Q4 and potential commercial introduction in 2027.
Smart Eyewear Commercial Ramp and Early Revenue
Production ramp begun; shipped ~2,100 AI1 batteries in Q2 and recognized first smart eyewear product revenue; delivery orders in hand for ~19,000 packs for Q3 (≈9x Q2 volume) as part of a 50,000 pack customer order with remainder expected in Q4.
Rapid Drone/Defense Pipeline Expansion
South Korea-manufactured pipeline increased 41% sequentially to ~$183M from $130M Q1; drones pipeline alone now exceeds $100M; >$40M of pipeline in active evaluation/testing/design stages.
Product and Technology Advances
AI-2 engineering samples produced (AI-2 expected to provide ~20% higher volumetric energy density vs AI-1); MX1-B01 introduced (~360 Wh/kg) targeting improved mission performance; MX-2 targeted at ~400 Wh/kg for 2027.
Manufacturing Yield and Throughput Improvements
Fab2 integral yield improved for three consecutive quarters; outside Zone 1, nearly all steps ≥95% yield with some steps up to 99.6%; Zone 1 dicing yield improved to ~84% from 80% in Q1; hybrid dicing and mechanical steps planned to materially lift throughput by year-end.
Commercial and Leadership Additions
Hired sales veteran Steve Bakos to lead sales/application engineering under Chief Business Officer; appointed Michael Vyvoda as Chief Operating Officer to drive manufacturing, supply chain, quality and customer delivery.
Capital Efficient Capacity Expansion
Orders placed for additional production equipment for MX1-B01 with expected operation mid-2027; South Korea mid-2027 capacity ramp described as capital-efficient using owned land/buildings; quoted initial South Korea expansion equipment capacity ~1 million units.
ENVX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed