Enovix Stock Is Surging After The Bell: What's Going On?

Enovix Corp (NASDAQ:ENVX) shares are rising in Tuesday’s after-hours session after the company reported better-than-expected financial results for the third quarter and announced a development agreement with a leading smartphone company.

Q3 Revenue: $4.32 million, versus estimates of $4.11 million

Q3 EPS: Loss of 17 cents, versus estimates for a loss of 20 cents

“We are very pleased with our accomplishments in the third quarter. Fab2 is now operational and shipping samples to customers,” said Raj Talluri, president and CEO of Enovix.

“We secured a 2025 launch commitment from a major smartphone ...