Enovix Q1 revenue beats on strength in defense, industrial shipments

Enovix

13/05/2026 21:16

Overview

US battery maker's Q1 revenue rose 49% yr/yr, beating analyst expectations

Company posted sixth straight quarter of positive gross profit

Enovix began initial shipments of smart eyewear battery, with manufacturing ramp expected in Q3

Outlook

Enovix sees Q2 2026 revenue between $8.0 mln and $9.0 mln

Company expects to produce about 50,000 smart eyewear battery units in 2026

Enovix anticipates targeted smartphone system-level deployment in H2 2026

Result Drivers

DEFENSE AND INDUSTRIAL SHIPMENTS - Co said Q1 revenue growth was primarily driven by continued strength in defense and industrial shipments

MANUFACTURING IMPROVEMENTS - Co attributed improved gross margin to higher production volumes and progress in manufacturing execution

Company press release: ID:nGNX90y6f5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$7.6 mln
$6.95 mln (11 Analysts)
Q1 EPS
-$0.18
Q1 Gross Profit
$1.6 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the electrical components & equipment peer group is "buy"

Wall Street's median 12-month price target for Enovix Corp is $15.50, about 122.4% above its May 12 closing price of $6.97

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)