Enovix Corporation (ENVX) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.200 -- 00:00:01.964 Raj? 00:00:01.964 -- 00:00:06.515 Thank you, Rob. And thank you all for joining us for this presentation. 00:00:06.515 -- 00:00:09.823 And thank you, TJ, for joining us today. 00:00:09.823 -- 00:00:15.009 Federal shareholders, the company made Great progress in Q2 00:00:15.009 -- 00:00:18.896 on all fronts. We launched our A1 product platform. 00:00:18.896 -- 00:00:22.283 We hit key milestones with many of our strategic customers. 00:00:22.283 -- 00:00:26.792 We launched a warrant dividend to simultaneously reward our shareholders and also fund 00:00:26.792 -- 00:00:32.082 our future growth. Fab 2 in Malaysia had made the first A1 batteries now for high volume 00:00:32.082 -- 00:00:36.792 manufacturing line. Now with our product sampling to two major smartphone OEMs and a 00:00:36.792 -- 00:00:42.106 leading eyewear company and strategic IoT customers, we are truly now moving 00:00:42.106 -- 00:00:47.074 into the commercialization phase of our journey. 00:00:48.484 -- 00:00:52.923 Now, In terms of highlights for the quarter, there's a few highlights. 00:00:52.923 -- 00:00:56.067 And I'm going to walk you through some of them using 00:00:56.067 -- 00:00:58.190 the shareholder letter in the backdrop here. 00:00:58.190 -- 00:00:59.812 And I'll point you to the things I'm talking about. 00:00:59.812 -- 00:01:01.812 Revenue, 00:01:01.855 -- 00:01:06.080 we delivered Q2 revenue of $7.5 million, above the guidance range. 00:01:06.080 -- 00:01:11.868 And it's up 98% year on year. And this was driven by strong demand for our products. 00:01:11.868 -- 00:01:16.016 And a non-GAAP gross margin reached 31%, reflecting 00:01:16.016 -- 00:01:21.386 the higher margin of the defense products that we get from our Korean factory. 00:01:21.386 -- 00:0...