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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jul. 02, 2023
Jun. 30, 2024
Jul. 02, 2023
Income Statement [Abstract]        
Revenue $ 3,768 $ 42 $ 9,040 $ 63
Cost of revenue 4,423 14,235 11,495 26,483
Gross margin (655) (14,193) (2,455) (26,420)
Operating expenses:        
Research and development 29,065 16,553 77,853 40,302
Selling, general and administrative 20,884 16,688 40,432 43,962
Impairment of equipment 0 4,411 0 4,411
Restructuring cost 38,146 0 38,146 0
Total operating expenses 88,095 37,652 156,431 88,675
Loss from operations (88,750) (51,845) (158,886) (115,095)
Other income (expense):        
Change in fair value of common stock warrants (33,660) (14,340) (12,540) (27,180)
Interest income 3,326 3,150 6,886 5,616
Interest expense (1,691) (1,270) (3,350) (1,270)
Other income (loss), net 242 (1) 708 20
Total other expense, net (31,783) (12,461) (8,296) (22,814)
Loss before income tax benefit (120,533) (64,306) (167,182) (137,909)
Income tax benefit (4,586) 0 (4,738) 0
Net loss (115,947) (64,306) (162,444) (137,909)
Net loss attributable to non-controlling interests (75) 0 (204) 0
Net loss attributable to Enovix $ (115,872) $ (64,306) $ (162,240) $ (137,909)
Net loss per share attributable to Enovix shareholders, basic (in dollars per share) $ (0.67) $ (0.41) $ (0.95) $ (0.88)
Net loss per share attributable to Enovix shareholders, diluted (in dollars per share) $ (0.67) $ (0.41) $ (0.95) $ (0.88)
Weighted average number of common shares outstanding, basic (in shares) 172,399,172 157,151,386 170,272,069 156,397,145
Weighted average number of common shares outstanding, diluted (in shares) 172,399,172 157,151,386 170,272,069 156,397,145