ENVX news

Enovix completed its first cost reduction phase by cutting 220 jobs and shifting focus to its South Korean plant. This reallocation supports surging demand for non-Chinese drone batteries and double capacity investment.

Enovix declared a special dividend of one warrant for every four common shares as of Nov. 13, 2026, and repurchased approximately $100 million of outstanding 2030 notes.

Enovix reported $11.0 million in Q3 revenue, up 38% year-over-year. The company realigned its leadership team to focus on drone and defense growth while investing to expand manufacturing capacity.

Enovix appointed former Apple executive Michael Vyvoda as Chief Operating Officer. This leadership addition targets high-volume production expansion as the company prepares to scale manufacturing capabilities across its Korea and Malaysia facilities.