What is Enovix Corporation's work in process?

Enovix Corporation (ENVX) reported work in process of $7.02M in Q1 2026.

How has Enovix Corporation's work in process changed year-over-year?

Enovix Corporation's work in process increased by 27.2% year-over-year, from $5.52M to $7.02M.

What is the long-term trend for Enovix Corporation's work in process?

Over 3 years (2022 to 2025), Enovix Corporation's work in process has grown at a 285.9% compound annual growth rate (CAGR), from $106K to $6.09M.

What does work in process mean?

Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.

Enovix Corporation ENVX Work in process

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$11.4M+98.7%

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Enphase EnergyENPH

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——

Other financials

Income statement

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Revenue$7.6M+49.1%

Gross profit$1.6M+495%

Operating income-$43.9M-3.1%

Net income-$38.3M-62.7%

EPS (diluted)-$0.18-50.0%

Balance sheet

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Cash & equivalents$90.6M-52.7%

Total debt$543.6M+179%

Total equity$240.7M+2.4%

Total assets$833.9M+67.1%

Cash flow

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Operating cash flow-$33.1M-95.6%

CapEx$3.2M-48.7%

Free cash flow-$36.3M-56.6%

Valuation

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Market cap$1.3B-18.0%

Enterprise value$1.75B+10.5%

P/S37.8×-31.2×

Profitability

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Gross margin21.5%—

Operating margin-520.3%-160pp

Net margin-499.6%-149pp

FCF margin-368.9%-117pp

Returns & leverage

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Return on equity-72.1%-10.0pp

Debt / equity2.3×+1.4×

Current ratio11×+6.3×

Where this comes from

Reported directly by Enovix Corporation in its filing.

Tagged under the XBRL concept us-gaap:InventoryWorkInProcessNetOfReserves.

The official record: Enovix Corporation’s 10-Q, filed May 14, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Enovix Corporation's work in process?: Enovix Corporation (ENVX) reported work in process of $7.02M in Q1 2026.
How has Enovix Corporation's work in process changed year-over-year?: Enovix Corporation's work in process increased by 27.2% year-over-year, from $5.52M to $7.02M.
What is the long-term trend for Enovix Corporation's work in process?: Over 3 years (2022 to 2025), Enovix Corporation's work in process has grown at a 285.9% compound annual growth rate (CAGR), from $106K to $6.09M.
What does work in process mean?: Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.