- CEO Raj Talluri, on a post-earnings call, said the company continued advancing smartphone qualification for the AI-1 platform with its lead mobile customer.
- Talluri said that the company remains engaged with seven of the top eight global smartphone brands by market share.
- The company’s fourth-quarter revenue came in at $11.3 million, a 16.5% jump from a year ago and beat Wall Street expectations of to $10.3 million, according to data from Fiscal AI.
Shares of Enovix Corp fell more than 3% in after-hours trading as investors turned cautious about the company’s manufacturing ramp-up, even as it reported better-than-expected quarterly results on the back of its efforts to scale and attract demand for its batteries in the smart eyewear, smartphone, and defense segments.
However, retail traders on Stocktwits noted that Enovix was in the “early innings” and it was still scaling production. A bullish user on Stocktwits said that they were holding the stock as the “future is bright” for Enovix.
The stock is set to snap a two-day gaining streak if the shares decline during trading hours on Thursday. Shares of Enovix have declined nearly 16% so far this year.
ENVX Beats Q4 Results
The company’s fourth-quarter revenue came in at $11.3 million, a 16.5% jump from a year ago and beat Wall Street expectations of to $10.3 million, according to data from Fiscal AI.
Enovix’s quarterly loss was $0.16 per share, smaller than Wall Street estimates of a loss of $0.24. The company has been ramping up production and said on Wednesday that its new manufacturing team was sharpening its focus on manufacturing execution to scale toward high-volume production.
“At Fab2, we continue to see consistent gains in yield and throughput. While Zone 1 laser dicing currently defines our primary throughput limit, we believe we can resolve this via process optimization and alternative dicing technologies,” the company said.
Enovix’s Three-Way Strategy
The company is producing batteries for smartphone production, smart eyewear, and for the defense sector. CEO Raj Talluri, on a post-earnings call, said that the company continued advancing smartphone qualification for the AI-1 platform with its lead mobile customer.
Enovix’s AI-1 TM platform is its artificial intelligence ClassTM batteries for the next generation of mobile smartphones that require significantly higher total energy storage and power to perform AI functions locally.
Talluri said that engagement expanded across smart eyewear and other AI-powered devices, and the company sees smart eyewear as an earlier commercialization pathway for AI-1 due to lower qualification barriers and thresholds.
“We are currently preparing production to support initial high volume demand from our lead smart eyewear customer,” he said, adding that defense and industrial programs continue to provide revenue, operational validation, and manufacturing execution experience as the company prepares for consumer-scale production.
The company’s pipeline is increasingly focused on expanding its presence in the drone market. “In 2024, we kicked off a campaign to introduce our technology to U.S. and European military contractors, who are attracted by our diverse supply chain and internal manufacturing capacity,” Talluri said.
He added that establishing initial programs and building a pipeline has required time, but it was starting to pay off. “We entered 2026 with a global pipeline of approximately $100 million, including opportunities with multiple Tier 1 Defense Contractors,” he noted.
Smartphone Qualification
Talluri said that the company remains engaged with seven of the top eight global smartphone brands by market share, and validation efforts have expanded this year with multiple leading original equipment manufacturers, including those serving the U.S. market.
“Our near-term focus, though, remains on two Asia market leaders, with Honor being our lead customer. We commenced their formal product qualification process in the third quarter of 2025,” he said.
He noted that most requirements have now been met, and cycle-life testing remains the primary gating item for completing qualification and moving into system integration and production planning.
What Is Retail Thinking About ENVX?
Retail sentiment on Enovix jumped to ‘extremely bullish’ territory, compared to ‘bearish’ a day ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.
A user on Stocktwits said that cell companies need Enovix, and once this is adopted, it will be exponential.
In the last 24 hours, the retail message volumes on the stock jumped 265% on Stocktwits.
However, another user on the platform noted that the timelines were extended. “Honor qualification looks like it's heading to failure right now which is why they're talking about changing the test.”
Shares of Enovix have declined 32% in the last 12 months.
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