Financial health
- Total debt ($529M) exceeds cash ($106M); net debt is $423M.
- Operating income covered interest expense -8.2× in the latest year.
- The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
ENVX Financials Enovix Corp
6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $32M | -$157M | 19.2% | -557.0% | -$114M | $529M | $106M |
| 2024 | $23M | -$222M | -8.9% | -1051.7% | -$185M | $179M | $273M |
| 2023 | $8M | -$214M | -725.0% | -3012.2% | -$166M | $175M | $233M |
| 2023 | $6M | -$52M | -274.7% | -2128.0% | -$119M | $0 | $323M |
| 2022 | $0 | -$126M | — | — | -$95M | $0 | $385M |
| 2020 | $0 | -$40M | — | — | -$47M | — | $29M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Apr '26 | $8M | -$38M | 20.4% | -577.6% | -$36M | $530M | $89M |
| Dec '25 | $11M | -$35M | 22.2% | -390.5% | -$28M | $529M | $106M |
| Sep '25 | $8M | -$54M | 17.5% | -587.9% | -$28M | $528M | $336M |
| Jun '25 | $7M | -$45M | 26.0% | -585.6% | -$34M | $180M | $136M |
| Mar '25 | $5M | -$24M | 5.1% | -834.8% | -$23M | $180M | $190M |
| Dec '24 | $10M | -$37M | 10.8% | -355.2% | -$32M | $179M | $273M |
| Sep '24 | $4M | -$23M | -14.9% | -1141.2% | -$50M | $180M | $201M |
| Jun '24 | $4M | -$116M | -17.4% | -2355.4% | -$52M | $179M | $235M |
| Mar '24 | $5M | -$46M | -34.1% | -1330.3% | -$50M | $177M | $222M |
| Dec '23 | $7M | -$60M | -167.8% | -877.6% | -$56M | $175M | $233M |
| Oct '23 | $200000 | -$16M | -8304.5% | -25191.5% | -$46M | $167M | $271M |
| Jul '23 | $42000 | -$64M | -33792.9% | -123440.5% | -$36M | $167M | $343M |
| Apr '23 | $21000 | -$74M | -58223.8% | -301190.5% | -$29M | — | $294M |
| Jan '23 | $1M | -$11M | -847.5% | -4131.2% | -$27M | $0 | $323M |
| Oct '22 | $8000 | -$82M | -82762.5% | -420987.5% | -$37M | $0 | $349M |
| Jul '22 | $5M | -$1M | -12.5% | -549.5% | -$25M | — | $385M |
| Apr '22 | $0 | $43M | — | — | -$30M | — | $408M |
| Jan '22 | $0 | -$85M | — | — | -$29M | $0 | $385M |
| Oct '21 | $0 | -$11M | — | — | -$30M | — | $339M |
| Jun '21 | $0 | -$14M | — | — | -$20M | — | $5M |
Valuation over time
How the market has priced ENVX against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-sales ratio has fallen from 524.8× (Mar '23) to 41.5× (Jun '26).
P/S
Frequently asked questions
Is ENVX growing its revenue and profit?
See the revenue and net-income charts above for Enovix Corp's multi-year trend.
How much debt does ENVX have?
As of FY2025, Enovix Corp reported $529M of total debt against $106M of cash; operating income covered interest expense -8.2×.
What is ENVX's profit margin?
In FY2025, gross margin was 19.2%, operating margin -557.0%, and net margin -492.6%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.