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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Income Statement [Abstract]        
Revenue $ 7,990 $ 4,317 $ 20,556 $ 13,357
Cost of revenue 6,589 4,959 16,952 16,454
Gross profit (loss) 1,401 (642) 3,604 (3,097)
Operating expenses:        
Research and development 28,180 24,220 82,257 102,073
Selling, general and administrative 20,194 20,744 54,613 61,176
Restructuring cost 0   0  
Total operating expenses 48,374 48,625 136,870 205,056
Loss from operations (46,973) (49,267) (133,266) (208,153)
Other income (expense):        
Change in fair value of common stock warrants 1,867 29,899 11,778 17,359
Gain on bargain purchase of assets 0 0 4,761 0
Interest income 2,540 2,859 7,401 9,745
Interest expense (11,765) (1,718) (15,186) (5,068)
Other income (loss), net 140 (2,217) 1,501 (1,509)
Total other income (loss), net (7,218) 28,823 10,255 20,527
Loss before income tax expense (benefit) (54,191) (20,444) (123,011) (187,626)
Income tax expense (benefit) (422) 2,194 (1,445) (2,544)
Net loss (53,769) (22,638) (121,566) (185,082)
Net gain (loss) attributable to non-controlling interests (56) (102) 185 (306)
Net loss attributable to Enovix $ (53,713) $ (22,536) $ (121,751) $ (184,776)
Net loss per share attributable to Enovix shareholders, basic (in dollars per share) [1] $ (0.26) $ (0.12) $ (0.59) $ (1.01)
Weighted average number of common shares outstanding, basic (in shares) [1] 206,458,846 187,785,319 204,758,291 183,229,182
Net loss per share attributable to Enovix shareholders, diluted (in dollars per share) [1] $ (0.27) $ (0.28) $ (0.59) $ (1.01)
Weighted-average shares outstanding used in computing net loss per share of common stock, diluted (in shares) [1] 206,811,315 187,977,123 204,758,291 183,229,182
[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 (as defined in Note 2 “Basis of Presentation and Summary of Significant Accounting Policies”) in July 2025. For more information on the adjusted net loss per share, please refer to Note 11 “Net Loss per Share” for more details.