On June 30 2023, ENOVIX CORPORATION ($NASDAQ:ENVX) released their financial results for Q2 FY2023. The total revenue for the second quarter was reported as USD 0.0 million, a significant decrease of 99.2% from the same period in the previous year. Their net income was declared as USD -64.3 million, a considerable decline from the -1.1 million of the year prior.
ENOVIX CORPORATION, a leading provider of advanced lithium-ion battery solutions, reported its financial results for the second quarter of FY2023 on Wednesday. The company’s stock opened the day at $18.9 and closed at $19.6, representing a 3.0% increase from the previous closing price of $19.0. This helped to offset a decrease in revenue due to the COVID-19 pandemic.
Overall, ENOVIX CORPORATION demonstrated strong financial performance in the second quarter of FY2023, with revenue and profits increasing despite the difficult economic environment due to the COVID-19 pandemic. Looking ahead, the company is well-positioned to continue its success thanks to its commitment to cost control and strategic initiatives. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
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Key Ratios Snapshot
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GoodWhale is here to help you analyze the financials of ENOVIX CORPORATION. After taking a close look at their financials, GoodWhale has assigned ENOVIX CORPORATION a Risk Rating of High. This means that this company may have some significant financial and business risks. GoodWhale has also detected three different risk warnings in ENOVIX CORPORATION’s income sheet, cashflow statement and non financial data. To access all the details of these warnings, become a registered user of GoodWhale and get the full picture of ENOVIX CORPORATION’s financials. More…
Risk Rating Analysis
Star Chart Analysis
Its unique silicon anode technology enables Enovix to create batteries with significantly higher energy density, longer cycle life and improved safety. Enovix’s competitors include Exro Technologies Inc, Dynavolt Renewable Energy Technology (Henan) Co Ltd, FREYR Battery.
– Exro Technologies Inc ($TSX:EXRO)
Exro Technologies Inc is a Canadian technology company that develops and manufactures electric powertrains for electric vehicles. The company has a market cap of 166.37M as of 2022 and a Return on Equity of -51.12%. Exro’s products are used in a variety of vehicles, including cars, motorcycles, boats, and snowmobiles. The company’s products are designed to improve the performance and efficiency of electric vehicles.
– Dynavolt Renewable Energy Technology (Henan) Co Ltd ($NYSE:FREY)
FREYR Battery is a company that manufactures and sells batteries. The company has a market cap of 1.53 billion as of 2022 and a return on equity of -12.64%. The company sells batteries to customers in the automotive, commercial, and industrial sectors.
ENOVIX CORPORATION reported their FY2023 Q2 earnings results on June 30 2023, with total revenue of USD 0.0 million and net income of USD -64.3 million. Despite this, the stock price moved up that same day, indicating investors are bullish on ENOVIX CORPORATION’s future prospects. Overall, ENOVIX CORPORATION is an interesting stock to watch as it has potential upside in the long-term.