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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 4.3M | 14.6% |
| Gross Profit | -640,000 | 2% |
| Cost of Revenue | 31M | 52.7% |
| Operating expense | 49M | 44.8% |
| Net Income | -23M | 80.6% |
| EBITDA | -17M | 85.2% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 448M | 8.4% |
| Total Liabilities | 278M | 12.1% |
| Total Equity | 168M | 1.6% |
| Shares Outstanding | 178M | 1.3% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | -31M | 13.9% |
| Cash from investing | -4.5M | 1216.5% |
| Cash from financing | -860,000 | 102.2% |
EPS
Financial Highlights for Enovix in Q3 '24
Enovix reported a revenue of 4.3M, which is a 14.6% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at -640,000, marking a 2% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 31M, a -52.7% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 49M, showing a -44.8% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -23M, showing a 80.6% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -17M, showing a 85.2% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Enovix with growth in revenue, gross profit, and net income.
