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.<h4>Revenue</h4><ul><li>First Quarter 2026: GAAP Revenue was $7.6 million, a 49% increase year-over-year . Non-GAAP Revenue was $7.6 million .</li><li>First Quarter 2025: GAAP Revenue was $5.1 million . Non-GAAP Revenue was $5.1 million .</li></ul><h4>Gross Profit</h4><ul><li>First Quarter 2026: GAAP Gross Profit was $1.6 million . Non-GAAP Gross Profit was $2.0 million .</li><li>First Quarter 2025: GAAP Gross Profit was $0.3 million . Non-GAAP Gross Profit was $0.4 million .</li></ul><h4>Gross Margin</h4><ul><li>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 .</li><li>First Quarter 2025: GAAP Gross Margin was 5.1% . Non-GAAP Gross Margin was 7.5% .</li></ul><h4>Operating Expenses</h4><ul><li>First Quarter 2026: GAAP Operating Expenses were $45.4 million . Non-GAAP Operating Expenses were $30.8 million . GAAP Research and development (R&amp;D) expense was $26.528 million . GAAP Selling, general and administrative (SG&amp;A) expense was $18.919 million .</li><li>First Quarter 2025: GAAP Operating Expenses were $42.8 million . Non-GAAP Operating Expenses were $28.3 million . GAAP Research and development (R&amp;D) expense was $25.929 million . GAAP Selling, general and administrative (SG&amp;A) expense was $16.892 million .</li></ul><h4>Loss from Operations</h4><ul><li>First Quarter 2026: GAAP Loss from Operations was - $43.9 million . Non-GAAP Loss from Operations was - $28.8 million .</li><li>First Quarter 2025: GAAP Loss from Operations was - $42.6 million . Non-GAAP Loss from Operations was - $28.0 million .</li></ul><h4>Net Loss Attributable to Enovix Corporation</h4><ul><li>First Quarter 2026: Net Loss Attributable to Enovix Corporation was - $38.260 million .</li><li>First Quarter 2025: Net Loss Attributable to Enovix Corporation was - $23.510 million .</li></ul><h4>Adjusted EBITDA</h4><ul><li>First Quarter 2026: Adjusted EBITDA was - $20.3 million .</li><li>First Quarter 2025: Adjusted EBITDA was - $20.8 million .</li></ul><h4>Cash Flow</h4><ul><li>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 .</li><li>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 .</li></ul><h4>Liquidity</h4><ul><li>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 .</li></ul><h4>Capital Expenditures</h4><ul><li>First Quarter 2026: Capital expenditures were - $3.220 million .</li><li>First Quarter 2025: Capital expenditures were - $6.272 million .</li></ul><h4>Operational Metrics and Commercialization Progress</h4><ul><li>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 .</li><li>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 .</li><li>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 .</li><li>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 .</li><li>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 .</li><li>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% .</li></ul><h4>Outlook / Guidance</h4><ul><li>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 . Capital expenditures are forecasted to be $9.0 million to $13.0 million for the quarter .</li></ul>

Enovix | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 7.6 M