ENVX - What's Going On With Enovix Stock After Earnings? | Benzinga
Enovix Corporation (NASDAQ:ENVX) shares are trading higher Thursday after the company posted better-than-expected first-quarter sales results.
The Details:
Enovix said quarterly sales came in at $5.272 million, beating the analyst consensus estimate of $3.779 million by 39.53% and representing a large increase over sales of $21,000 from the same period last year.
The company reported quarterly losses of 31 cents per share which missed the analyst consensus estimate of losses of 29 cents by 6.9%.
Enovix also announced a development agreement with one of the top five smartphone OEMs in the world by unit volume.
"We are thrilled to announce we have advanced our engagement further with one of our top customers by reaching a formal development agreement, underscoring the value and competitive advantage our silicon batteries can ...