Enovix Corporation (ENVX) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Raj? Thank you, Rob. And thank you all for joining us for this presentation. And thank you, TJ, for joining us today. Federal shareholders, the company made Great progress in Q2 on all fronts. We launched our A1 product platform. We hit key milestones with many of our strategic customers. We launched a warrant dividend to simultaneously reward our shareholders and also fund our future growth. Fab 2 in Malaysia had made the first A1 batteries now for high volume manufacturing line. Now with our product sampling to two major smartphone OEMs and a leading eyewear company and strategic IoT customers, we are truly now moving into the commercialization phase of our journey. Now, In terms of highlights for the quarter, there's a few highlights. And I'm going to walk you through some of them using the shareholder letter in the backdrop here. And I'll point you to the things I'm talking about. Revenue, we delivered Q2 revenue of $7.5 million, above the guidance range. And it's up 98% year on year. And this was driven by strong demand for our products. And a non-GAAP gross margin reached 31%, reflecting the higher margin of the defense products that we get from our Korean factory. And we launched the A1 platform. The A1 platform is a leadership platform with the core battery architecture. It has all the advanced materials, micro-11 design rules, and it meets all the requirements of the smartphone market. And it is, in our opinion, the highest watt hours per liter, 900 watt hours per liter battery with 3C charge rate. And now we feel it goes up to 1,000 cycles. This is the first platform that has 100% active silicon anode. And it's in commercial qualification with our customers now. And again, we have over 400 patents on top of this technology that we have built. Doing this hig...