Stock Track | Enovix Plunges 10.34% After-Hours on Q3 Earnings Miss and Wider Losses

Stock Track11-06

Shares of Enovix Corporation (ENVX) plummeted 10.34% in after-hours trading on Wednesday following the release of its third quarter 2025 financial results. The sharp decline comes as the company reported wider losses and missed analysts' expectations, despite showing revenue growth.

For the third quarter, Enovix reported revenue of $8.0 million, representing an 85% increase year-over-year. However, the company's net loss attributable to Enovix shareholders widened to $53.7 million, or $0.26 per share, compared to a loss of $22.5 million, or $0.12 per share, in the same quarter last year. On a non-GAAP basis, the net loss per share was $0.14, which appears to have disappointed investors.

While Enovix highlighted progress in its battery technology development, including advancements with its lead smartphone customer and the validation of its AI-1 battery as having the highest energy density reported for a smartphone battery, the market seems to be focusing on the company's continued losses. The widening gap between revenue growth and profitability, coupled with ongoing high operating expenses of $48.4 million for the quarter, likely contributed to the negative sentiment in after-hours trading. Investors may be concerned about the company's path to profitability despite its technological achievements in the competitive battery sector.

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