Enovix Projects 2027 Revenue Between $65M and $85M Amid Growing Backlog and Capacity Expansion
Enovix Corporation (ENVX) reported strong third-quarter performance, with revenue reaching $11 million, representing a 38% increase year-on-year and a 22% increase quarter-on-quarter. The company achieved a gross margin of 34.5%, driven by a high-value product mix including smart eyewear applications. Looking ahead, Enovix has provided a revenue outlook for 2027 in the range of $65 million to $85 million, supported by an existing backlog of $37 million. To meet growing demand, the company is doubling its drone-related production capacity in South Korea.
Tickers: $ENVX
Topics: gross margin quarterly earnings revenue growth smart eyewear