Enovix Corp
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
ENVX$2.64-5.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows for the
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Quarters Ended | ||
|---|---|---|
| March 31, 2024 | April 2, 2023 | |
| Cash flows used in operating activities: | ||
| Net loss | $(46,497) | $(73,603) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation, accretion and amortization | 24,974 | 3,598 |
| Stock-based compensation | 12,760 | 29,157 |
| Changes in fair value of common stock warrants | (21,120) | 12,840 |
| Others | 173 | — |
| Changes in operating assets and liabilities: | ||
| Accounts and notes receivables | 505 | 149 |
| Inventory | 2,202 | (181) |
| Prepaid expenses and other assets | (1,809) | 364 |
| Accounts payable | (7,281) | (1,792) |
| Accrued expenses and compensation | 2,845 | 3,858 |
| Deferred revenue | (1,402) | — |
| Deferred tax liability | (222) | — |
| Other liabilities | (172) | (1) |
| Net cash used in operating activities | (35,044) | (25,611) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (15,088) | (3,032) |
| Purchases of investments | (17,066) | — |
| Maturities of investments | 51,260 | — |
| Net cash provided by (used in) investing activities | 19,106 | (3,032) |
| Cash flows from financing activities: | ||
| Proceeds from loan borrowing | 1,800 | — |
| Payroll tax payments for shares withheld upon vesting of RSUs | (2,222) | (777) |
| Proceeds from the exercise of stock options and issuance of common stock, net of issuance costs | 5,852 | 329 |
| Repurchase of unvested restricted common stock | — | (9) |
| Net cash provided by (used in) financing activities | 5,430 | (457) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (541) | — |
| Change in cash, cash equivalents, and restricted cash | (11,049) | (29,100) |
| Cash and cash equivalents and restricted cash, beginning of period | 235,123 | 322,976 |
| Cash and cash equivalents, and restricted cash, end of period | $224,074 | $293,876 |
| Supplemental cash flow disclosure: | ||
| Cash paid for interest | $23 | $— |
| Cash paid for income taxes | 88 | — |
| Supplemental non-cash investing and financing activities: | ||
| Purchase of property and equipment included in liabilities | 15,521 | 4,740 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
The following presents the Company’s cash, cash equivalents and restricted cash by category in the Company’s Condensed Consolidated Balance Sheets:
| Quarters Ended | ||
|---|---|---|
| March 31, 2024 | April 2, 2023 | |
| Cash and cash equivalents | $222,150 | $293,751 |
| Restricted cash included in prepaid expenses, other current assets and other assets, non-current | 1,924 | 125 |
| Total cash, cash equivalents, and restricted cash | $224,074 | $293,876 |
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