Enovix Corp falls on quarterly revenue miss

Enovix

27/04/2023 12:38

** Enovix Corp's  ENVX.O  shares down 2.8% at $12.15 in
premarket trade 
    ** Lithium-ion battery maker posts Q1 revenue of $21,000 vs
analysts' estimates of $44,330
    ** Co has now missed revenue estimates for four out of seven
quarters
    ** Co, however, beats adj. earnings estimates; posts
adjusted loss of 20 cents/shr vs estimates of 22 cents/shr
    ** Co had announced a $150 mln convertible debt deal earlier
in the month to fund new factory in Malaysia and build its Gen2
battery
    ** Up to Wednesday's close, stock had risen 0.48% YTD,
compared with a 13.26% increase in the Nasdaq composite index
 .IXIC 

 (Reporting by Shristi Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))