ENVX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03

Price $2.80

P/E (TTM) -3.5

EPS (TTM) $-0.79

Revenue (TTM) $36M

52W Range $2–$14

ENVX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04

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10-Year Performance Revenue, net income, margins and EPS trends

06

Revenue$32M

2020-12-31 → 2025-12-28

EPS$-0.75

2020-12-31 → 2025-12-28

Free Cash Flow·

2022-01-02 → 2024-12-29

Net margin-473.9%

2022-01-02 → 2024-12-29

Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric	5Y trend	ENVX	5Y avg	Peer Median	Verdict
P/E (TTM)		-3.55Y avg ≈-14.0	≈-14.0	·	·
Price / Tangible Book		7.35Y avg ≈9.3	≈9.3	·	·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric	ENVX	5Y avg	Peer Median	Verdict
Gross Margin (TTM)	18.8%5Y avg ≈-336.2%	≈-336.2%	21.1%	Weak
Operating Margin (TTM)	-496.5%5Y avg ≈7746.4%	≈7746.4%	-20.4%	Weak
Pretax Margin (TTM)	-476.6%5Y avg ≈15675.0%	≈15675.0%	-29.9%	Weak
Net Profit Margin (TTM)	-473.9%5Y avg ≈15679.1%	≈15679.1%	-31.2%	Weak

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric	5Y trend	ENVX	5Y avg	Peer Median	Verdict
Revenue YoY		37.9%5Y avg ≈87.7%	≈87.7%	·	·
Revenue CAGR 3Y		72.5%	·	·	·

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric	5Y trend	ENVX	5Y avg	Peer Median	Verdict
EPS (Diluted)		$-0.755Y avg ≈$-1.03	≈$-1.03	·	·

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric	5Y trend	ENVX	5Y avg	Peer Median	Verdict
Revenue / Employee		≈$47.9K	·	·	·

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14

Avg Surprise 17.4%

Next Report Nov 03, 2026

Period	Report	EPS Actual	EPS Est	Surprise
June 30, 2026	Aug 12, 2026	$-0.13	$-0.15	13.1%
March 31, 2026	May 13, 2026	$-0.14	$-0.16	11.8%
Dec. 31, 2025		$-0.14	$-0.18	22.1%
Sept. 30, 2025		$-0.14	$-0.16	12.4%
June 30, 2025		$-0.13	$-0.17	24.0%
March 31, 2025		$-0.15	$-0.19	20.8%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15

Income Statement 18

Metric	2025	2024	2023	2022	2021	2020
Revenue	$32M	$23M	$8M	$6M	$0	$0
Cost of Revenue	$26M	$25M	$63M	$23M	$2M	$3M
Gross Profit	$6M	$-2M	$-55M	$-17M	$-2M	$-3M
R&D Expense	$110M	$125M	$88M	$58M	$38M	$14M
SG&A Expense	$73M	$74M	$79M	$52M	$30M	$6M
Operating Expenses	$183M	$241M	$175M	$115M	$68M	$20M
Operating Income	$-177M	$-243M	$-230M	$-132M	$-70M	$-24M
Interest Expense	·	·	$4M	$0	$187.0K	·
Interest Income	$13M	$12M	$14M	$5M	$37.0K	·
Other Non-op	$1M	$954.0K	$-304.0K	$-54.0K	$-61.0K	$46.0K
Pretax Income	$-158M	$-224M	$-215M	$-52M	$-126M	$-40M
Income Tax	$-1M	$-1M	$-633.0K	$0	$0	$0
Net Income	$-157M	$-222M	$-214M	$-52M	$-126M	$-40M
EPS (Basic)	$-0.75	$-1.19	$-1.27	$-0.34	$-1.07	$-0.49
EPS (Diluted)	$-0.75	$-1.19	$-1.30	$-0.82	$-1.07	$-0.49
Shares (Basic)	207,635,870	186,039,616	169,063,306	152,918,287	117,218,893	80,367,324
Shares (Diluted)	207,635,870	186,039,616	169,573,164	154,149,367	117,218,893	80,367,324
EBITDA	·	$-198M	$-196M	$-125M	$-69M	·

Balance Sheet 31

Metric	2025	2024	2023	2022	2021	2020
Cash & Equivalents	$106M	$273M	$233M	$323M	$385M	$29M
Short-term Investments	$406M	$0	$74M	$0	·	·
Receivables	$4M	$5M	$909.0K	$170.0K	$0	·
Inventory	$14M	$8M	$9M	$634.0K	$0	·
Prepaid Expense	$8M	$10M	$5M	$6M	$8M	$946.0K
Current Assets	$542M	$295M	$323M	$330M	$398M	$33M
PP&E (Net)	$170M	$168M	$166M	$104M	$77M	$31M
PP&E (Gross)	$220M	$189M	$211M	$116M	$81M	$35M
Accum. Depreciation	$50M	$21M	$44M	$12M	$5M	$4M
Goodwill	$12M	$12M	$12M	$0	·	·
Intangibles	$32M	$36M	$42M	$0	·	·
Other Non-current Assets	$4M	$2M	$5M	$937.0K	$1M	$135.0K
Total Assets	$879M	$527M	$564M	$441M	$483M	$65M
Accounts Payable	$18M	$9M	$21M	$7M	$3M	$2M
Accrued Liabilities	$14M	$20M	$14M	$7M	$7M	$2M
Short-term Debt	$10M	$9M	$4M	·	·	·
Current Liabilities	$65M	$54M	$61M	$23M	$21M	$11M
Capital Leases	$11M	$13M	$16M	$8M	$9M	$0
Deferred Tax	$9M	$9M	$11M	$0	·	·
Other Non-current Liabilities	$14.0K	$14.0K	$13.0K	$92.0K	$191.0K	$233.0K
Total Liabilities	$605M	$278M	$303M	$84M	$156M	$29M
Long-term Debt	$520M	$170M	$171M	·	·	·
Total Debt	·	$179M	$175M	·	·	·
Common Stock	$22.0K	$19.0K	$17.0K	$15.0K	$15.0K	$10.0K
Paid-in Capital	$1.31B	$1.07B	$857M	$741M	$659M	$243M
Retained Earnings	$-978M	$-821M	$-599M	$-385M	$-333M	$-207M
Treasury Stock	$58M	$0	·	·	·	·
AOCI	$-508.0K	$-143.0K	$-62.0K	$0	·	·
Stockholders' Equity	$271M	$247M	$258M	$356M	$326M	$36M
Liabilities + Equity	$879M	$527M	$564M	$441M	$483M	$65M
Shares Outstanding	216,556,238	190,559,335	167,392,315	157,461,802	152,272,287	100,016,559

Cash Flow 18

Metric	2025	2024	2023	2022	2021	2020
D&A	$35M	$45M	$34M	$8M	$2M	$579.0K
Deferred Tax	$-1M	$-3M	$-813.0K	·	·	·
Amort. of Intangibles	$5M	$5M	$5M	·	·	·
Restructuring	$0	$42M	$3M	$0	$0	·
Other Non-cash	·	$71M	$76M	$-39M	$74M	·
Operating Cash Flow	$-95M	$-109M	$-105M	$-83M	$-51M	$-20M
CapEx	$18M	$76M	$62M	$36M	$44M	$27M
Investing Cash Flow	$-538M	$-1M	$-143M	$-36M	$-44M	$-27M
Debt Issued	·	$5M	$172M	$0	$15M	$2M
Net Debt Issued	·	$5M	$172M	$0	·	·
Stock Issued	$0	$107M	$0	$0	·	·
Stock Repurchased	$58M	$0	$0	$10.0K	$27.0K	$0
Net Stock Activity	·	$107M	$-26.0K	$-10.0K	$-27.0K	·
Financing Cash Flow	$467M	$151M	$160M	$57M	$451M	$66M
Net Change in Cash	$-167M	$40M	$-88M	$-62M	$356M	$19M
Taxes Paid	$1M	$185.0K	$0	$0	·	·
Free Cash Flow	·	$-185M	$-166M	$-119M	$-95M	·
Levered FCF	·	·	$-171M	·	·	·

Profitability 8

Metric	2025	2024	2023	2022	2021	2020
Gross Margin	·	-8.9%	-725.0%	-274.7%	·	·
Operating Margin	·	-1051.7%	-3012.2%	-2128.0%	37177.5%	·
Net Margin	·	-963.2%	-2800.5%	-832.3%	67312.3%	·
Pretax Margin	·	-970.5%	-2809.6%	-832.3%	67312.3%	·
EBITDA Margin	·	-856.8%	-2567.3%	-2008.3%	36645.4%	·
ROA	·	-40.7%	-42.6%	-11.2%	-46.0%	·
ROE	·	-88.0%	-84.7%	-14.4%	-38.7%	·
ROIC	·	-56.6%	-53.0%	-37.0%	-21.3%	·

Liquidity & Solvency 5

Metric	2025	2024	2023	2022	2021	2020
Current Ratio	·	5.5	5.3	14.3	19.3	·
Quick Ratio	·	5.2	5.0	14.0	18.7	·
Debt / Equity	·	0.7	0.7	·	·	·
LT Debt / Equity	·	0.7	0.7	·	·	·
Interest Coverage	·	·	-51.7	·	·	·

Efficiency 3

Metric	2025	2024	2023	2022	2021	2020
Asset Turnover	·	0.0	0.0	0.0	-0.0	·
Inventory Turnover	·	3.1	13.5	73.3	·	·
Receivables Turnover	·	8.4	14.2	73.0	·	·

Per Share 5

Metric	2025	2024	2023	2022	2021	2020
Book Value / Share	·	$1.29	$1.54	$2.26	$2.14	·
Revenue / Share	·	$0.13	$0.05	$0.04	·	·
Cash Flow / Share	·	$-0.62	$-0.66	$-0.54	·	·
Cash / Share	·	$1.43	$1.39	$2.05	$2.53	·
EPS (TTM)	$-0.75	$-1.19	$-1.30	$-0.82	$-1.07	$-0.49

Growth Rates 2

Metric	Trend	2025	2024	2023	2022	2021	2020
Revenue YoY		37.9%	201.9%	23.2%	·	·	·
Revenue CAGR 3Y		72.5%	·	·	·	·	·

Valuation (TTM) 14

Metric	2025	2024	2023	2022	2021	2020
Revenue TTM	$32M	$23M	$8M	$6M	$0	$0
Net Income TTM	$-157M	$-222M	$-214M	$-52M	$-126M	$-40M
Market Cap	·	$2.15B	$2.10B	$1.96B	$4.15B	·
Enterprise Value	·	$2.06B	$1.96B	·	·	·
P/E	-10.2	-9.5	-9.6	-15.2	-25.5	·
P/S	·	93.2	274.2	315.8	·	·
P/B	·	8.7	8.1	5.5	12.7	·
P / Tangible Book	7.3	10.8	10.3	5.5	12.7	·
P / Cash Flow	·	-19.8	-20.0	-23.7	-81.0	·
P / FCF	·	-11.6	-12.6	-16.5	-43.8	·
EV / EBITDA	·	-10.4	-10.0	·	·	·
EV / FCF	·	-11.1	-11.8	·	·	·
EV / Revenue	·	89.1	256.9	·	·	·
Earnings Yield	-9.8%	-10.5%	-10.4%	-6.6%	-3.9%	·

Income Statement 18

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022
Revenue	$9M	$8M	$11M	$8M	$7M	$5M	$10M	$4M	$4M	$5M	$7M	$42.0K	$21.0K	$1M
Cost of Revenue	$8M	$6M	$9M	$7M	$6M	$5M	$9M	$5M	$4M	$7M	$20M	$14M	$12M	$10M
Gross Profit	$1M	$2M	$3M	$1M	$2M	$261.0K	$1M	$-642.0K	$-655.0K	$-2M	$-12M	$-14M	$-12M	$-9M
R&D Expense	$24M	$27M	$28M	$28M	$28M	$26M	$22M	$24M	$29M	$49M	$35M	$17M	$24M	$24M
SG&A Expense	$20M	$19M	$18M	$20M	$18M	$17M	$13M	$21M	$21M	$20M	$23M	$17M	$27M	$24M
Operating Expenses	$45M	$45M	$46M	$48M	$46M	$43M	$36M	$49M	$88M	$68M	$61M	$38M	$51M	$52M
Operating Income	$-43M	$-44M	$-44M	$-47M	$-44M	$-43M	$-35M	$-49M	$-89M	$-70M	$-90M	$-52M	$-63M	$-67M
Interest Expense	·	·	·	·	·	·	·	·	·	$2M	·	$1M	$0	·
Interest Income	$5M	$6M	$6M	$3M	$2M	$2M	$3M	$3M	$3M	$4M	$4M	$3M	$2M	·
Other Non-op	$984.0K	$343.0K	$-160.0K	$140.0K	$-992.0K	$2M	$2M	$-2M	$242.0K	$466.0K	$-346.0K	$-1.0K	$21.0K	$84.0K
Pretax Income	$-44M	$-38M	$-35M	$-54M	$-45M	$-24M	$-36M	$-20M	$-121M	$-47M	$-61M	$-64M	$-74M	·
Income Tax	$-441.0K	$-129.0K	$133.0K	$-422.0K	$-861.0K	$-162.0K	$1M	$2M	$-5M	$-152.0K	$-633.0K	$0	$0	·
Net Income	$-43M	$-38M	$-35M	$-54M	$-45M	$-24M	$-37M	$-23M	$-116M	$-46M	$-119M	$-64M	$-74M	$-77M
EPS (Basic)	$-0.19	$-0.18	$-0.15	$-0.26	$-0.22	$-0.12	$-0.16	$-0.12	$-0.63	$-0.28	$-0.67	$-0.41	$-0.47	$-0.44
EPS (Diluted)	$-0.19	$-0.18	$-0.14	$-0.27	$-0.22	$-0.12	$0.00	$-0.28	$-0.63	$-0.28	$-0.26	$-0.41	$-0.47	$-0.31
Shares (Basic)	218,502,098	217,371,926	·	206,458,846	204,819,119	203,328,890	·	187,785,319	183,256,633	168,144,918	·	157,151,386	155,626,977	·
Shares (Diluted)	218,502,098	217,371,926	·	206,811,315	204,819,119	203,328,890	·	187,977,123	183,256,633	168,144,918	·	157,151,386	155,626,977	·
EBITDA	$-43M	$-35M	·	$-47M	$-44M	$-34M	·	$-49M	$-89M	$-45M	·	$-52M	$-60M	·

Balance Sheet 31

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022
Cash & Equivalents	$34M	$89M	$106M	$336M	$136M	$190M	$273M	$201M	$235M	$222M	$233M	$343M	$294M	$323M
Short-term Investments	$442M	$440M	$406M	$223M	$67M	$58M	$0	$0	$15M	$40M	·	$66M	·	·
Receivables	$3M	$4M	$4M	$5M	$4M	$3M	$5M	$2M	$2M	$2M	·	$42.0K	$21.0K	·
Inventory	$18M	$16M	$14M	$15M	$13M	$10M	$8M	$10M	$10M	$7M	·	$796.0K	$815.0K	·
Prepaid Expense	$9M	$9M	$8M	$8M	$6M	$7M	$10M	$12M	$9M	$7M	·	$3M	$6M	·
Current Assets	$506M	$558M	$542M	$589M	$228M	$270M	$295M	$224M	$270M	$278M	·	$414M	$301M	·
PP&E (Net)	$165M	$165M	$170M	$175M	$178M	$166M	$168M	$158M	$151M	$159M	·	$118M	$102M	·
PP&E (Gross)	·	·	$220M	$217M	$213M	$193M	$189M	$173M	$163M	$224M	·	$136M	$118M	·
Accum. Depreciation	·	·	$50M	$42M	$35M	$28M	$21M	$15M	$12M	$65M	·	$17M	$15M	·
Goodwill	$12M	$12M	$12M	$12M	$12M	$12M	$12M	$12M	$12M	$12M	·	·	·	·
Intangibles	$29M	$30M	$32M	$33M	$34M	$35M	$36M	$38M	$39M	$40M	·	·	·	·
Other Non-current Assets	$4M	$4M	$4M	$4M	$4M	$3M	$2M	$3M	$3M	$5M	·	$825.0K	$881.0K	·
Total Assets	$800M	$834M	$879M	$914M	$469M	$499M	$527M	$448M	$489M	$509M	·	$539M	$411M	·
Accounts Payable	$12M	$15M	$18M	$21M	$14M	$21M	$9M	$15M	$19M	$19M	·	$13M	$5M	·
Accrued Liabilities	$11M	$9M	$14M	$9M	$6M	$9M	$20M	$14M	$17M	$12M	·	$13M	$9M	·
Short-term Debt	$10M	$9M	$10M	$10M	$10M	$10M	·	$11M	$9M	$7M	·	·	·	·
Current Liabilities	$52M	$51M	$65M	$61M	$52M	$58M	$54M	$59M	$68M	$57M	·	$37M	$25M	·
Capital Leases	$6M	$11M	$11M	$11M	$12M	$13M	$13M	$14M	$14M	$15M	·	$8M	$8M	·
Deferred Tax	$8M	$9M	$9M	$9M	$10M	$9M	$9M	$8M	$6M	$11M	·	·	·	·
Other Non-current Liabilities	$13.0K	$14.0K	$14.0K	$14.0K	$15.0K	$14.0K	$14.0K	$12.0K	$11.0K	$13.0K	·	$24.0K	$38.0K	·
Total Liabilities	$588M	$591M	$605M	$617M	$262M	$261M	$278M	$278M	$316M	$277M	·	$292M	$98M	·
Long-term Debt	$521M	$520M	$520M	$519M	$170M	$169M	$170M	$169M	$170M	$170M	·	$167M	·	·
Total Debt	·	$530M	·	$528M	$180M	$180M	·	$180M	$180M	$177M	·	·	·	·
Common Stock	$23.0K	$22.0K	$22.0K	$22.0K	$19.0K	$19.0K	$19.0K	$18.0K	$18.0K	$17.0K	·	$16.0K	$16.0K	·
Paid-in Capital	$1.33B	$1.32B	$1.31B	$1.30B	$1.09B	$1.08B	$1.07B	$951M	$931M	$875M	·	$770M	$770M	·
Retained Earnings	$-1.06B	$-1.02B	$-978M	$-943M	$-889M	$-845M	$-821M	$-784M	$-761M	$-645M	·	$-523M	$-458M	·
Treasury Stock	$58M	$58M	$58M	$58M	·	·	$0	·	·	·	·	·	·	·
AOCI	$-1M	$-1M	$-508.0K	$-658.0K	$-391.0K	$-184.0K	$-143.0K	$-42.0K	$15.0K	$-53.0K	·	$-24.0K	·	·
Stockholders' Equity	$210M	$241M	$271M	$294M	$204M	$235M	$247M	$168M	$170M	$229M	·	$247M	$312M	·
Liabilities + Equity	$800M	$834M	$879M	$914M	$469M	$499M	$527M	$448M	$489M	$509M	·	$539M	$411M	·
Shares Outstanding	219,195,932	217,698,339	216,556,238	215,367,757	192,957,823	191,715,117	190,559,335	177,591,877	175,302,694	169,738,474	167,392,315	158,911,419	158,089,463	157,461,802

Cash Flow 16

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022
D&A	$10M	$9M	$8M	$9M	$9M	$8M	$8M	$6M	$6M	$25M	$24M	·	$4M	$4M
Amort. of Intangibles	·	·	·	·	·	·	·	$1M	$1M	$1M	·	·	·	·
Restructuring	·	·	$0	$0	$0	·	$0	$4M	$38M	·	$0	$0	·	$0
Other Non-cash	·	$-4M	·	·	·	$-2M	·	·	·	$-14M	·	·	$45M	·
Operating Cash Flow	$-22M	$-33M	$-27M	$-26M	$-26M	$-17M	$-16M	$-31M	$-27M	$-35M	$-27M	·	$-26M	$-22M
CapEx	$10M	$3M	$1M	$3M	$8M	$6M	$16M	$20M	$25M	$15M	$29M	·	$3M	$5M
Investing Cash Flow	$-34M	$18M	$-199M	$-248M	$-27M	$-64M	$-16M	$-5M	$406.0K	$19M	$-11M	·	$-3M	$-5M
Debt Issued	·	·	·	·	·	·	·	·	·	·	·	·	·	$-15M
Stock Issued	·	·	·	·	·	·	$67M	$0	$34M	$6M	·	·	·	·
Stock Repurchased	·	·	$0	$58M	·	·	$0	$-1.0K	$1.0K	$0	$-23.0K	·	$9.0K	$1.0K
Net Stock Activity	·	·	·	·	·	·	·	·	·	$6M	·	·	$-9.0K	·
Financing Cash Flow	$466.0K	$-2M	$-3M	$473M	$-1M	$-1M	$107M	$-864.0K	$40M	$5M	$2M	·	$-457.0K	$527.0K
Net Change in Cash	$-55M	$-17M	$-230M	$199M	$-54M	$-83M	$72M	$-34M	$13M	$-11M	$-36M	·	$-29M	$-26M
Taxes Paid	$40.0K	$63.0K	$62.0K	$882.0K	$151.0K	$39.0K	$21.0K	$16.0K	$60.0K	$88.0K	$0	·	$0	·
Free Cash Flow	·	$-36M	·	·	·	$-23M	·	·	·	$-50M	·	·	$-29M	·
Levered FCF	·	·	·	·	·	·	·	·	·	$-52M	·	·	·	·

Profitability 8

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022
Gross Margin	14.4%	20.4%	·	17.5%	26.0%	5.1%	·	-14.9%	-17.4%	-34.1%	·	-33792.9%	-58223.8%	·
Operating Margin	-479.8%	-577.6%	·	-587.9%	-585.6%	-834.8%	·	-1141.2%	-2355.4%	-1330.3%	·	-123440.5%	-301190.5%	·
Net Margin	-477.2%	-503.4%	·	-672.2%	-596.2%	-461.2%	·	-522.0%	-3075.2%	-879.5%	·	-153109.5%	-350490.5%	·
Pretax Margin	-482.2%	-505.1%	·	-678.2%	-604.3%	-464.8%	·	-473.6%	-3198.9%	-884.8%	·	·	·	·
EBITDA Margin	-479.8%	-454.3%	·	-587.9%	-585.6%	-669.1%	·	-1141.2%	-2355.4%	-856.6%	·	-123440.5%	-284738.1%	·
ROA	·	-5.7%	·	-7.9%	-9.3%	-4.7%	·	-4.7%	-22.5%	-10.1%	·	·	·	·
ROE	·	-16.1%	·	-23.3%	-23.8%	-10.1%	·	-10.7%	-55.5%	-17.1%	·	·	·	·
ROIC	·	-5.7%	·	-5.7%	-11.2%	-10.2%	·	-15.7%	-24.4%	-17.2%	·	·	·	·

Liquidity & Solvency 5

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022
Current Ratio	·	11.0	·	9.7	4.4	4.7	·	3.8	4.0	4.9	·	·	·	·
Quick Ratio	·	10.5	·	9.3	4.0	4.3	·	3.4	3.7	4.6	·	·	·	·
Debt / Equity	·	2.2	·	1.8	0.9	0.8	·	1.1	1.1	0.8	·	·	·	·
LT Debt / Equity	·	2.2	·	1.8	0.8	0.7	·	1.0	1.0	0.7	·	·	·	·
Interest Coverage	·	·	·	·	·	·	·	·	·	-42.3	·	-40.8	·	·

Efficiency 3

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022
Asset Turnover	·	0.0	·	0.0	0.0	0.0	·	0.0	0.0	0.0	·	·	·	·
Inventory Turnover	·	0.4	·	0.5	0.5	0.6	·	1.0	0.9	1.9	·	·	·	·
Receivables Turnover	·	2.2	·	2.4	2.5	2.2	·	4.5	4.4	6.0	·	·	·	·

Per Share 5

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022
Book Value / Share	·	$1.11	·	$1.37	$1.06	$1.23	·	$0.94	$0.97	$1.35	·	·	·	·
Revenue / Share	$0.04	$0.04	·	$0.04	$0.04	$0.03	·	$0.02	$0.02	$0.03	·	$0.00	$0.00	·
Cash Flow / Share	·	$-0.15	·	·	·	$-0.09	·	·	·	$-0.21	·	·	$-0.16	·
Cash / Share	·	$0.41	·	$1.56	$0.70	$0.99	·	$1.13	$1.34	$1.31	·	·	·	·
EPS (TTM)	·	$-0.81	·	$-0.61	$-0.62	$-1.03	·	$-1.45	$-1.46	$-1.24	·	$-1.72	·	·

Valuation (TTM) 11

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022
Revenue TTM	·	$34M	·	$30M	$27M	$23M	·	$21M	$17M	$13M	·	$1M	·	·
Net Income TTM	·	$-171M	·	$-159M	$-128M	$-199M	·	$-304M	$-297M	$-246M	·	$-297M	·	·
Market Cap	·	$1.10B	·	$2.17B	$1.91B	$1.43B	·	$1.70B	$2.71B	$1.36B	·	·	·	·
Enterprise Value	·	$1.10B	·	$2.14B	$1.88B	$1.37B	·	$1.67B	$2.64B	$1.27B	·	·	·	·
P/E	·	-6.2	·	-16.5	-16.0	-7.3	·	-6.6	-10.6	-6.5	·	-10.5	·	·
P/S	·	32.1	·	71.8	71.7	62.6	·	81.7	163.1	105.4	·	·	·	·
P/B	·	4.6	·	7.4	9.4	6.1	·	10.1	15.9	5.9	·	·	·	·
P / Tangible Book	·	5.6	·	8.7	12.1	7.6	·	14.4	22.7	7.7	·	·	·	·
P / Cash Flow	·	-33.3	·	·	·	-84.8	·	·	·	-38.8	·	·	·	·
EV / Revenue	·	32.1	·	70.8	70.9	59.6	·	80.7	158.8	98.8	·	·	·	·
Earnings Yield	·	-16.0%	·	-6.0%	-6.3%	-13.8%	·	-15.2%	-9.4%	-15.5%	·	-9.5%	·	·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16

Metric	2025-12-28	2024-12-29	2023-12-31	2023-01-01	2022-01-02
Revenue	$32M	$23M	$8M	$6M	$0
Gross Margin %	·	-8.9%	-725.0%	-274.7%	·
Operating Margin %	·	-1051.7%	-3012.2%	-2128.0%	37177.5%
Net Income	$-157M	$-222M	$-214M	$-52M	$-126M
Diluted EPS	$-0.75	$-1.19	$-1.30	$-0.82	$-1.07

Metric	2025-12-28	2024-12-29	2023-12-31	2023-01-01	2022-01-02
Debt / Equity	·	0.7	0.7	·	·
Current Ratio	·	5.5	5.3	14.3	19.3
Quick Ratio	·	5.2	5.0	14.0	18.7

Metric	2025-12-28	2024-12-29	2023-12-31	2023-01-01	2022-01-02
Free Cash Flow	·	$-185M	$-166M	$-119M	$-95M

Institutional owners (13F) 361 filers · $938.1M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 361

Value held $938.1M

New positions 40

Exited positions 34

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
40 (-20 vs prior Q)	34 (-18 vs prior Q)	129 (+22 vs prior Q)	101 (-17 vs prior Q)	+7.2M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
VANGUARD GROUP INC	$129,830,776	17,760,708	13.84%	Shares
BlackRock, Inc.	$100,054,313	16,483,412	10.67%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$51,559,460	8,494,145	5.50%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$50,830,842	8,374,109	5.42%	Shares
UBS Group AG	$32,205,878	5,305,746	3.43%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$31,476,693	5,184,598	3.36%	Shares
UBS Group AG	$29,243,220	4,817,664	3.12%	Call option
Electron Capital Partners, LLC	$29,063,755	4,788,098	3.10%	Shares
STATE STREET CORP	$28,655,505	4,720,841	3.05%	Shares
MORGAN STANLEY	$21,066,749	3,470,634	2.25%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$15,853,626	2,611,800	1.69%	Call option
ROYAL BANK OF CANADA	$15,204,000	2,504,811	1.62%	Shares
FRED ALGER MANAGEMENT, LLC	$12,733,889	2,097,840	1.36%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$12,732,584	2,097,625	1.36%	Shares
CenterBook Partners LP	$12,394,448	2,041,919	1.32%	Shares
MASTERS CAPITAL MANAGEMENT LLC	$12,140,000	2,000,000	1.29%	Shares
NORTHERN TRUST CORP	$10,308,353	1,698,246	1.10%	Shares
GOLDMAN SACHS GROUP INC	$10,141,768	1,670,802	1.08%	Shares
TUDOR INVESTMENT CORP ET AL	$10,119,479	1,667,130	1.08%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$10,010,492	1,649,175	1.07%	Shares
JANE STREET GROUP, LLC	$9,937,804	1,637,200	1.06%	Call option
CITADEL ADVISORS LLC	$9,662,864	1,591,905	1.03%	Shares
WOLVERINE ASSET MANAGEMENT LLC	$9,379,971	1,545,300	1.00%	Put option
CITADEL ADVISORS LLC	$9,018,806	1,485,800	0.96%	Call option
Connor, Clark & Lunn Investment Management Ltd.	$8,689,053	1,431,475	0.93%	Shares
BANK OF AMERICA CORP /DE/	$8,356,174	1,376,635	0.89%	Shares
VANGUARD FIDUCIARY TRUST CO	$8,301,805	1,367,678	0.88%	Shares
MARSHALL WACE, LLP	$8,011,161	1,319,796	0.85%	Shares
Invesco Ltd.	$7,395,640	1,218,392	0.79%	Shares
TORONTO DOMINION BANK	$7,277,438	1,198,919	0.78%	Shares
WOLVERINE TRADING, LLC	$6,959,060	698,000	0.74%	Call option
BARCLAYS PLC	$6,518,002	1,073,806	0.69%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$6,240,567	1,028,100	0.67%	Put option
MASTERS CAPITAL MANAGEMENT LLC	$6,070,000	1,000,000	0.65%	Call option
D. E. Shaw & Co., Inc.	$5,798,052	955,198	0.62%	Shares
JANE STREET GROUP, LLC	$5,766,500	950,000	0.61%	Put option
Refined Wealth Management	$5,128,240	844,850	0.55%	Shares
TWO SIGMA ADVISERS, LP	$4,867,729	665,900	0.52%	Shares
WELLS FARGO & COMPANY/MN	$4,753,987	783,194	0.51%	Shares
Sonora Investment Management Group, LLC	$4,579,909	459,369	0.49%	Shares
STIFEL FINANCIAL CORP	$4,215,977	694,556	0.45%	Shares
FIRST TRUST ADVISORS LP	$3,556,164	585,859	0.38%	Shares
Bank of New York Mellon Corp	$3,551,375	585,070	0.38%	Shares
GILDER GAGNON HOWE & CO LLC	$3,481,101	573,493	0.37%	Shares
CITADEL ADVISORS LLC	$3,456,258	569,400	0.37%	Put option
LPL Financial LLC	$3,426,934	564,569	0.37%	Shares
Jump Financial, LLC	$3,398,308	559,853	0.36%	Shares
DEUTSCHE BANK AG\	$3,342,810	550,710	0.36%	Shares
BLAIR WILLIAM & CO/IL	$3,331,085	548,779	0.36%	Shares
PEAK6 LLC	$3,036,214	500,200	0.32%	Call option

Show all 361 institutional owners →

Activists & 5%+ owners 1 position

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer	Filed	Stake	Status	Purpose	Filing
Thurman J. Rodgers, Rodgers Massey Revocable Living Trust dtd 4/4/11, Rodgers Family Freedom and Free Markets Charitable Trust ×4 filings	July 22, 2025	14.40%	Amendment	·	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 23 insiders · 12 officers · 11 directors

19

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Ryan A Benton	Interim CEO	Aug. 28, 2026 F	903,523	0	$0
Rajendra K Talluri	President and CEO	Aug. 8, 2026 F	2,958,373	0	$0
Harrold J Rust	President and CEO	Feb. 1, 2023 F	60,963	0	$0
Steffen Pietzke	Chief Financial Officer	July 6, 2023 F	621,385	0	$0
Michael Vyvoda	Chief Operating Officer	Aug. 5, 2026 F	942,131	0	$0
Ajay Marathe	Former Chief Operating Officer	Feb. 14, 2026 F	313,893	2	$-1,683,182
Arthi Chakravarthy	Chief Legal Officer	Sept. 24, 2026 F	586,882	0	$0
Kristina Truong	Chief Accounting Officer	Sept. 13, 2026 F	307,500	1	$-16,784
Ralph H Schmitt	Chief Commercial Officer	Aug. 10, 2023 F	240,110	0	$0
Gardner Cameron Dales	Chief Commercial Officer	Feb. 1, 2023 F	859,075	0	$0
Ashok Lahiri	Chief Technology Officer	Feb. 1, 2023 F	1,336,476	0	$0
Edward J Hejlek	Chief Legal Officer, General Counsel and Secretary	Nov. 6, 2022 F	302,113	0	$0
Pegah Ebrahimi	Director	June 11, 2026 A	102,043	0	$0
Joseph Ian Malchow	Director	June 11, 2026 A	467,367	0	$0
Gregory Reichow	Director	June 11, 2026 A	87,385	0	$0
Bernard Gutmann	Director	June 11, 2026 A	99,063	0	$0
Daniel J Mccranie	Director	June 11, 2026 A	69,982	0	$0
Thurman J. Rodgers	Director	June 11, 2026 A	34,740	0	$0
Betsy S Atkins	Director	June 11, 2026 A	151,144	0	$0
Emmanuel T Hernandez	Director	June 15, 2023 A	480,610	0	$0
Michael J. Petrick	Director	Oct. 20, 2021 M	1,054	0	$0
Park West Asset Management LLC	10% owner	July 14, 2021 J	12,472,625	0	$0
Farhan Ahmad	·	Jan. 10, 2025 F	55,001	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 26 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
PBW · Invesco Exchange-Traded Fund Trust	1.35%	1,634,896 SH	Oct. 2, 2026	Daily
FYC · First Trust Exchange-Traded AlphaDE…	0.09%	283,683 NS	July 31, 2026	N-PORT
VTWG · VANGUARD SCOTTSDALE FUNDS	0.06%	189,801 SH	Aug. 19, 2026	Daily
IWO · iShares Trust	0.04%	1,876,715 SH	Sept. 11, 2026	Daily
VTWO · VANGUARD SCOTTSDALE FUNDS	0.04%	1,142,735 SH	Aug. 19, 2026	Daily
BBSC · J.P. Morgan Exchange-Traded Fund Tr…	0.03%	52,538 NS	July 31, 2026	N-PORT
VBK · VANGUARD INDEX FUNDS	0.03%	2,477,334 SH	Aug. 19, 2026	Daily
RSSL · Global X Funds	0.03%	94,824 NS	July 31, 2026	N-PORT
ISCG · iShares Trust	0.02%	63,303 SH	Sept. 11, 2026	Daily
IWM · iShares Trust	0.02%	5,056,099 SH	Sept. 11, 2026	Daily
VIS · VANGUARD WORLD FUND	0.02%	238,824 SH	Aug. 19, 2026	Daily
FAD · First Trust Exchange-Traded AlphaDE…	0.02%	25,699 NS	July 31, 2026	N-PORT
PRFZ · Invesco Exchange-Traded Fund Trust	0.01%	116,469 SH	Oct. 2, 2026	Daily
FIDU · FIDELITY COVINGTON TRUST	0.01%	63,380 NS	July 31, 2026	N-PORT
VXF · VANGUARD INDEX FUNDS	0.01%	2,249,521 SH	Aug. 19, 2026	Daily
VB · VANGUARD INDEX FUNDS	0.01%	4,264,229 SH	Aug. 19, 2026	Daily
WSML · iShares Trust	0.01%	11,072 SH	Sept. 10, 2026	Daily
TILT · FlexShares Trust	0.00%	6,478 NS	July 31, 2026	N-PORT
ITOT · iShares Trust	0.00%	283,114 SH	Sept. 11, 2026	Daily
IWV · iShares Trust	0.00%	39,311 SH	Sept. 10, 2026	Daily
VTI · VANGUARD INDEX FUNDS	0.00%	5,896,928 SH	Aug. 19, 2026	Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX…	0.00%	155,417 SH	Aug. 19, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.00%	16,509 SH	Aug. 19, 2026	Daily
ESGV · VANGUARD WORLD FUND	0.00%	44,677 SH	Aug. 19, 2026	Daily
FTLS · First Trust Exchange-Traded Fund III	-0.01%	-84,763 NS	July 31, 2026	N-PORT
ISCB · iShares Trust	·	8,557 SH	Sept. 11, 2026	Daily

ENVX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21

rating · 18 analysts BUY

Median target $10.00 +257.1%

3 16.7% Strong Buy

10 55.6% Buy

4 22.2% Hold

1 5.6% Sell

0 0.0% Strong Sell

12-Month Price Target

10 analysts · 2026-09-30

Mean target $11.35 +305.4%

← Below all targets Current price $2.80

Low$5.00 Mean$11.35 High$21.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
ENVX	·	-10.2	37.9%	·	·	·
FLNC	·	-29.2	-16.2%	-2.1%	-10.7%	13.1%
EOSE	$3.86B	-1.7	631.8%	-849.1%	58.0%	-126.0%
TE	·	-3.1	25572.8%	·	·	·
LYTS	$983M	39.7	22.1%	·	7.4%	·
ARRY	$1.41B	-12.6	40.2%	-4.1%	37.7%	23.2%
SES	·	-8.2	929.4%	·	·	·
CHPT	$146M	-0.6	-1.4%	-53.5%	-478.6%	30.5%
EAF	$400M	-1.8	-6.4%	-43.6%	102.7%	-3.1%
DFLI	·	·	·	·	·	·

Latest News Recent headlines mentioning this company

23

Analysts at BofA Remain Cautious on Enovix (ENVX) Amid Manufacturing Difficulties Yahoo Finance · 6 months, 1 week ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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ENVX Enovix Corporation - Common Stock