Earnings Releases·Nov 12, 2026, 7:44 AM ET

Enovix Corporation — Q3 2026 Earnings Summary

Q3 2026 revenue reached $11.0 million (up 38% YoY, 22% QoQ) with non-GAAP gross margin expanding 13.5 percentage points to a record 34.5%, while non-GAAP net loss per share widened slightly to $0.15 from $0.14.
Management raised FY2027 revenue guidance to $65–$85 million (midpoint nearly double FY2026 expectations) driven by a $216 million backlog, though Q4 2026 revenue is guided down 12–20% to $9.0–$10.0 million.
Strategic capital allocation included retiring $128 million of convertible notes at a 36% discount, repurchasing $21.7 million of common stock, and declaring a warrant dividend, alongside a restructuring plan cutting 220 positions to save $8.5 million annually.
Operations are pivoting toward high-demand sectors with a $19 million capacity expansion at the South Korean facility coming online in Q2 2027, while smartphone silicon-anode development is deprioritized in favor of smart eyewear and defense applications.