Filing Flows › Enovix (ENVX) › Q4 2025
Enovix (ENVX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Enovix (ENVX) reported revenue of $11.3M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +41% from the quarter before. Operating margin was -390.5%, net loss $35.0M (311.1% of revenue).
Enovix, Q4 2025: revenue $11.3M (+16% year over year), operating margin -390.5%, net loss $35.0M, operating cash flow −$27.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.3M | +41% | +16% |
| Operating profit | −$44.0M | — | — |
| Net earnings | −$35.0M | — | — |
| Operating cash flow | −$27.0M | — | — |
What changed
Revenue was $11.3M in Q4 2025, up 16% year over year and up 41% from the previous quarter.
Gross margin was 22.2%, up 11.4 points from Q4 2024. Operating costs exceeded revenue by $44.0M, an operating margin of -390.5%. Operating expenses grew 31% against revenue growth of 16%. The fastest-growing cost line was SG&A (+40%). The quarter ended with a net loss of $35.0M, narrower than the previous quarter's $53.8M loss. Minority interests bore $51K of it: to shareholders the quarter was a loss of $35.0M. Non-operating items added $9.1M, -26% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$27.0M. Non-cash charges added back $8.4M of depreciation and amortization and $11.4M of share-based compensation. Working capital and other items used $11.8M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$28.0M.
Questions
What was Enovix's revenue in the fourth quarter 2025?
Enovix (ENVX) reported revenue of $11.3M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +41% from the quarter before.
Was Enovix profitable in the fourth quarter 2025?
Operating loss was $44.0M (-390.5% of revenue) and net loss $35.0M.
Source: Enovix 10-K on SEC EDGAR.