Enovix Corporation reported its fourth‑quarter and full‑year 2025 financial results, posting a net loss per share of $0.14 versus the consensus estimate of $-0.17. The loss beat expectations by $0.03, driven by lower operating expenses and a higher mix of higher‑margin defense and industrial shipments.
Revenue for the quarter rose to $11.26 million, up 16% from $9.70 million in Q4 2024 and beating the consensus estimate of $9.98 million to $10.27 million. The increase was largely powered by stronger demand in defense and industrial markets, where Enovix shipped more silicon‑anode battery cells to government and commercial customers.
Non‑GAAP gross margin improved to 26% in Q4 2025 from 11% in Q4 2024, reflecting operational gains at the company’s Fab2 facility and higher production volumes. For the full year, the non‑GAAP gross margin climbed to 23% from less than 1% in 2024, underscoring the impact of scale and cost discipline.
Management guided for Q1 2026 revenue of $6.5 million to $7.5 million, below analyst expectations of $8.5 million to $8.8 million. The company also projected a non‑GAAP operating loss of $29 million to $32 million, signaling continued investment in product qualification and manufacturing ramp‑up.
CEO Dr. Raj Talluri emphasized that the company’s priority remains completing smartphone battery qualification and moving into commercial production, noting that customer evaluation samples met energy‑density, fast‑charge, and safety requirements. The guidance reflects a cautious outlook as Enovix balances short‑term losses against long‑term growth opportunities in defense, industrial, and smart‑eyewear markets.
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