Enovix third quarter 2026 revenue of $11 million beat guidance behind surging drone pipeline

Enovix reported preliminary third quarter 2026 revenue of $11.0 million, representing a 38% year-over-year increase and exceeding its guidance range of $9 million to $10 million. The company is realigning its leadership and manufacturing capacity toward high-margin defense and drone markets, which currently account for approximately 70% of total revenue.

Key Highlights

• Preliminary GAAP net loss per share was $0.19, with a non-GAAP net loss of $0.14 per share that landed within the company's prior guidance range.
• The total drone, defense, and industrial pipeline grew 18% sequentially to $216 million, while the drone-specific pipeline surged 48% to $150 million.
• The company is investing $19 million to double capacity at its Korean manufacturing facility to meet increased demand for NDAA-compliant, non-Chinese battery sourcing.