Enovix Corp [ENVX] has reported a net loss of $214,132,000,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $7.6 billion
Based in FREMONT, California, Enovix Corp operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, Enovix reported revenue of $7.64 billion, compared to $6.20 billion in the previous year, showcasing a significant increase in sales performance.
Cost of revenue for the same period was reported at $63.06 billion, substantially higher than the $23.24 billion recorded in the prior year. This increase indicates a larger expenditure on producing goods or operating activities.
The net loss attributable to Enovix in 2023 was $214.07 million, a noteworthy decline from the net loss of $51.62 million in the previous year. This substantial decrease in profitability may raise concerns about the company's financial performance.
Earnings per share for basic and diluted amounts also reflected a downward trend in 2023, with basic EPS reported at $(1.35) and diluted EPS at $(1.38). In comparison, the previous year saw basic EPS at $(0.34) and diluted EPS at $(0.82), indicating a decrease in earnings per share over the reporting periods.
Overall, the financial results of Enovix for the 12 months ended December 31, 2023, show mixed performance, with increased revenue but a significant rise in costs leading to a substantial net loss compared to the previous year.
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