Enovix Corp
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Industrials : Electrical Equipment |
Company profile

Enovix Corporation is engaged in designing, developing, and manufacturing silicon-anode lithium-ion battery. The Company has developed and delivered sample batteries to consumer electronics manufacturers. The Company is developing custom three-dimensional (3D) silicon lithium-ion batteries for wearable, mobile computing and communication device applications. The Company's product includes model EX01-351144 for eyeware cell, which consists of approximately 664 watt-hours per liter (Wh/l) of energy density; model EX01-351829 for wearable devices, which consists of 714 Wh/l of energy density; model EX01-543870 for handset cell, and model EX01-395578 for smartphone or laptop cell, which consists of approximately 900 Wh/l of energy density. The Company is also developing its 3D cell technology and production process with automobile manufacturers for the electric vehicle and energy storage markets.

Closing Price
Day's Change
0.13 (0.52%)
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Hyzon Motors shares slide 15% premarket after company's loss widens, and revenue falls short

7:56 am ET March 23, 2022 (MarketWatch)

Shares of Hyzon Motors Inc. (HYZN) slid 15% premarket Wednesday, after the supplier of hydrogen-powered commercial vehicles reported fourth-quarter earnings showing a wider-than-expected loss and revenue that fell far short of estimates. The Rochester, New York-based company posted a net loss of $28.6 million, or 12 cents a share, for the quarter, wider than the loss of $13.4 million, or 8 cents a share, posted in the year-earlier period. Revenue came to $5.1 million. The company had no revenue in the year-earlier quarter. The FactSet consensus was for a loss of 11 cents a share and revenue of $21.4 million. The company's operating costs exceeded revenue at $78.5 million for R&D and $16.1 million in selling, general and administrative expenses. The company said it had a backlog of $287 million at quarter-end, although it defines backlog as orders and non-binding MOUs through 2025 that are subject to cancellation. "Backlog as of 3/22/2022 consists of $224M non-binding MoUs and $63M firm orders; includes $92M MoU and $9M firm order with Shanghai HongYun and $115M MoU from Geesink," the company said in a statement. The company delivered 87 fuel cell electric vehicles in 2021, said the statement. It now expects to deliver 300 to 400 vehicles in 2022, heavily weighted toward the back end of the year. Shares have fallen 10% in the year to date, while the S&P 500 has fallen 5%.

-Ciara Linnane


(END) Dow Jones Newswires

March 23, 2022 07:56 ET (11:56 GMT)

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