Enovix (ENVX)
Designer of silicon-anode lithium-ion cells built on a 3D stacked-electrode architecture, targeting smartphone OEM supply chains.
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Designer and manufacturer of lithium-ion cells built on a 3D silicon-anode architecture, sold today primarily into defense and industrial markets through its Korea-based Routejade business while running a multi-year qualification process to enter the smartphone supply chain.
Batteries built on a 3D stacked-electrode architecture — substituting silicon for the conventional graphite anode — are the core product. The design supports a fully-active silicon anode, packing more energy into a smaller cell; the AI-1 smartphone platform achieved 935 Wh/L volumetric energy density in independent laboratory testing.
Revenue today is driven primarily by defense and industrial customers, with shipments concentrated in South Korea through the Routejade battery business acquired in 2023. That acquisition added electrode-coating and pack-assembly capacity and an established base of wearable, hearable, and industrial accounts.
Manufacturing operates across Fab-2 in Penang, Malaysia and expanded Korea facilities, with corporate and R&D functions at the Fremont, California headquarters. Smartphone commercialization is the central near-term gate: active engagements span most of the world's top handset makers, and lead-OEM qualification had met most of its criteria by late 2025.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 17, 2026 | William Blair | Downgrade | Target: — | Target: $5 |
| Aug 14, 2026 | Canaccord Genuity | Reiterate | Rating: —Target: $17 | Target: $10 |
| Aug 13, 2026 | Craig-Hallum | Target | Target: $8 | Target: $7 |
| May 14, 2026 | Craig-Hallum | Reiterate | Rating: —Target: $25 | Target: $8 |
| May 14, 2026 | Oppenheimer | Reiterate | Rating: —Target: $24 | Target: $21 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 5, 2026Cash & short-term investments $475.8M · Total debt $537.5M · Total assets $799.6M · Shareholders' equity $209.9M
- Revenue
- $9.0M
- Operating income
- −$43.3M
- Net income
- −$43.1M
No dividends on record.
| Institutions | 51.41% | 112.81M shares | |
|---|---|---|---|
| 338 holders · as of Jun 30, 2026 | |||
| Insiders | 12.73% | 27.95M shares | |
| 14 holders · as of Sep 14, 2026 | |||
| Strategic holders | 4.51% | 9.89M shares | |
| 1 holder · as of Jan 29, 2024 | |||
| Other | 31.35% | 68.81M shares | |
| remainder | |||
219.45M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Thurman J. RodgersInsiderdirector, 10 percent owner | 9.52% | 20.90M | filed Jun 15, 2026 |
BlackRock, Inc.Institution | 7.51% | 16.48M | as of Jun 30, 2026 |
BlackRock, Inc.Strategic | 4.51% | 9.89M | filed Jan 29, 2024 |
Vanguard Capital Management LLCInstitution | 3.87% | 8.49M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 3.82% | 8.37M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jan 1, 2026 | Kristina Truong | officer: Chief Accounting Officer | −2,296 | $7.31 |
| Oct 8, 2025 | Ajay Marathe | officer: Chief Operating Officer | −18,614 | $13.00 |
| Oct 2, 2025 | Ajay Marathe | officer: Chief Operating Officer | −120,000 | $12.01 |
- Amprius Technologies
Silicon nanowire-anode battery startup targeting defense, drones, and aviation
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Enovix | $2.98 | −2.53% | $666.5M | — | — | 18.6 | +20.5% |
| Amprius Technologies | $9.91 | −0.75% | $1.41B | — | — | 12.9 | +125.9% |
| Median | — | — | 12.9 | +125.9% |