ENVX - Enovix GAAP EPS of -$0.53 misses by $0.34

• Enovix press release ( NASDAQ: ENVX ): Q3 GAAP EPS of -$0.53 misses by $0.34 .
• Revenue of $8K vs. nill previously.
• We continue to expect between $6 million and $8 million of revenue for fullyear 2022 with service revenue being a significant factor. For full-year 2022, we now expect to use between $130 million and $150 million of cash, roughly 40% of which will come from capital expenditures. Nominally we expect to exit the year with $300 million of cash. We are lowering our cash use guidance primarily due to the timing of capital expenditures payments for the Agility Line and final payments for the first Gen2 Autoline pushed to 2023.
• Shares -5% .

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