Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 222,150 $ 233,121
Short-term investments 40,243 73,694
Accounts receivable, net 1,728 909
Notes receivable, net 144 1,514
Inventory 6,536 8,737
Prepaid expenses and other current assets 7,207 5,202
Total current assets 278,008 323,177
Property and equipment, net 159,164 166,471
Customer relationship intangibles and other intangibles, net 39,963 42,168
Operating lease, right-of-use assets 14,851 15,290
Goodwill 12,217 12,098
Other assets, non-current 4,700 5,100
Total assets 508,903 564,304
Current liabilities:    
Accounts payable 19,277 21,251
Accrued expenses 11,677 13,976
Accrued compensation 9,281 10,731
Short-term debt 8,488 5,917
Deferred revenue 5,306 6,708
Other liabilities 2,855 2,435
Total current liabilities 56,884 61,018
Long-term debt, net 168,275 169,099
Warrant liability 21,780 42,900
Operating lease liabilities, non-current 14,813 15,594
Deferred revenue, non-current 3,774 3,774
Deferred tax liability 11,259 10,803
Other liabilities, non-current 13 13
Total liabilities 276,798 303,201
Commitments and Contingencies (Note 9)
Stockholders’ equity:    
Common stock, $0.0001 par value; authorized shares of $1,000,000,000; issued and outstanding shares of $169,738,474 and $167,392,315 as of March 31, 2024 and December 31, 2023, respectively 17 17
Additional paid-in-capital 874,527 857,037
Accumulated other comprehensive loss (53) (62)
Accumulated deficit (645,213) (598,845)
Total Enovix's stockholders’ equity 229,278 258,147
Non-controlling interest 2,827 2,956
Total equity 232,105 261,103
Total liabilities and equity $ 508,903 $ 564,304