Enovix Corp (NASDAQ:ENVX) shares are trading higher during Monday’s session after the company announced preliminary second-quarter financial results that exceeded guidance, coupled with the launch of its AI-1 battery platform for the next generation of artificial intelligence-capable smartphones. Here’s what investors need to know.
What To Know: The high-performance battery company reported preliminary second-quarter revenue of $7.5 million, soaring past its guidance of $4.5 million to $6.5 million and nearly doubling revenue from the same period last year. This marks the company’s fifth consecutive quarter of exceeding revenue and adjusted EBITDA guidance.
