Shares of Enovix Corporation (ENVX) plummeted 7.95% in after-hours trading on Wednesday following the release of its third quarter 2025 financial results and fourth quarter guidance. The sharp decline came despite the company reporting better-than-expected Q3 earnings, suggesting investors were disappointed with the outlook for the coming quarter.
For Q3 2025, Enovix reported revenue of $8.0 million, representing an 85% increase compared to the same period last year and slightly above analysts' expectations of $7.93 million. The company posted a non-GAAP net loss per share of $0.14, beating the consensus estimate of $0.16. However, Enovix's Q4 revenue guidance of $9.5 million to $10.5 million fell short of Wall Street's expectations of $12.05 million, likely contributing to the stock's after-hours decline.
Despite highlighting progress with its lead smartphone customer and advancing toward the commercial launch of its AI-1 battery technology, investors appear to be focusing on the company's weaker-than-expected outlook. Enovix ended the quarter with a strong cash position of $648 million, but the market seems more concerned about the pace of revenue growth and the timeline for achieving profitability in the competitive battery sector.
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