ENVX - Enovix hits Q2 milestone early producing 18K battery cells

2023-06-15 17:36:28 ET

Enovix ( NASDAQ: ENVX ) +4.5% post-market Thursday after saying it already has achieved its Q2 forecast of 18K units manufactured at its Fab1 site in California, and with two weeks remaining in the quarter, it expects to beat Q2 guidance for the number of units produced.

For the full year, the company reiterated guidance for production of 180K cells from Fab1 to support broad qualification activities and customer products.

Enovix ( ENVX ) also noted it will begin high-volume manufacturing at its Fab2 location in Malaysia next year; when fully ramped, the Gen2 Autoline 1 in Fab2 will have the capacity to produce more than 9M batteries annually.

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