XML 16 R4.htm IDEA: XBRL DOCUMENT v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
Jun. 29, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Revenue $ 7,468 $ 3,768 $ 12,566 $ 9,040
Cost of revenue 5,526 4,423 10,363 11,495
Gross profit (loss) 1,942 (655) 2,203 (2,455)
Operating expenses:        
Research and development 28,148 29,065 54,077 77,853
Selling, general and administrative 17,527 20,884 34,419 40,432
Restructuring cost 0 38,146 0 38,146
Total operating expenses 45,675 88,095 88,496 156,431
Loss from operations (43,733) (88,750) (86,293) (158,886)
Other income (expense):        
Change in fair value of common stock warrants (5,885) (33,660) 9,911 (12,540)
Gain on bargain purchase of assets 4,761 0 4,761 0
Interest income 2,427 3,326 4,861 6,886
Interest expense (1,705) (1,691) (3,421) (3,350)
Other income (loss), net (992) 242 1,361 708
Total other income (loss), net (1,394) (31,783) 17,473 (8,296)
Loss before income tax benefit (45,127) (120,533) (68,820) (167,182)
Income tax benefit (861) (4,586) (1,023) (4,738)
Net loss (44,266) (115,947) (67,797) (162,444)
Net gain (loss) attributable to non-controlling interests 262 (75) 241 (204)
Net loss attributable to Enovix $ (44,528) $ (115,872) $ (68,038) $ (162,240)
Net loss per share attributable to Enovix shareholders, basic (in dollars per share) [1] $ (0.22) $ (0.63) $ (0.33) $ (0.90)
Net loss per share attributable to Enovix shareholders, diluted (in dollars per share) [1] $ (0.22) $ (0.63) $ (0.33) $ (0.90)
Weighted average number of common shares outstanding, basic (in shares) [1] 204,819,119 183,256,633 204,086,108 180,995,568
Weighted average number of common shares outstanding, diluted (in shares) [1] 204,819,119 183,256,633 204,086,108 180,995,568
[1] As required by ASC 260, Earnings Per Share, the share and per share amounts for the periods presented above in the condensed consolidated financial statements have been retroactively adjusted to reflect the warrant dividends issued in July 2025. For warrant dividends, please refer to Note 14 “Subsequent Events” for more details.