Enovix Says Its Officer's $100 Million 2027 Revenue Estimate Was Never Company Guidance
The battery maker says a smartphone-customer account was wrong and that updated guidance comes with third-quarter results on November 12.
Enovix, which makes lithium-ion batteries with a silicon-anode design, told investors Thursday that a 2027 revenue estimate of around $100 million attributed to one of its officers was not authorized and should not be relied on as guidance. The company also said the article quoting the officer misidentified the customer that received cells.
A report the company disowns
The Electric published an article on October 21 in which an Enovix officer was quoted as saying the company estimated 2027 revenue would be around $100 million, with most of it from smartphone customers. The article also quoted the officer as saying Enovix had shipped 50,000 cells to a smartphone maker that was prototyping a new model.
In an 8-K filed Thursday, Enovix said the 2027 figure was not a company-authorized disclosure. It told investors not to treat the statements as guidance for 2027.
The company said it expects to provide updated financial guidance when it releases third-quarter 2026 results on November 12, 2026.
Eyewear, not smartphones
Enovix also corrected the shipment claim. The cells went to a smart eyewear customer, not a smartphone maker, the company said.
As it had previously disclosed, Enovix had shipped about 17,000 production sample cells to that customer by the end of the third quarter of 2026. That compares with a 50,000-pack order, not the 50,000 cells the article described.
Drones, defense and industry
Enovix said its current expectation is that revenue growth will come mainly from its drone, defense and industrial pipeline. That pipeline stood at $216 million at the end of the third quarter of 2026, as the company previously disclosed.
The company said the pipeline's conversion into revenue is a risk to that expectation.
Enovix designs and makes batteries for smartphones, smart eyewear, defense, industrial and emerging edge-AI devices, according to its annual report for the fiscal year ended December 28, 2025. Its manufacturing and research are based mainly in Malaysia, South Korea and India.
Enovix's next word on 2027 comes November 12, when it reports third-quarter results and updated guidance.
Sources
- 8-K Filing — Enovix Corp (ENVX) — SEC EDGAR
