Enovix receives 100,000-unit battery order for drone program

Enovix Corporation (NASDAQ: ENVX) has received a purchase order for 100,000 battery units from a multinational provider of dual-use drone systems, according to a company statement.

Deliveries are scheduled for the first half of 2027 and will involve cells manufactured at Enovix's Trade Agreements Act-compliant, military-qualified facility in South Korea. The company said the customer may place follow-on orders in the second half of 2027 and beyond, contingent on successful initial deployment.

The order moves one opportunity from a previously reported drone, defense, and industrial pipeline valued at approximately $216 million into backlog. Enovix said the order is among purchase orders referenced in a separate release dated Oct. 12, 2026.

"Drone makers need high-performance batteries from a qualified, non-Chinese source now, and this order shows Enovix can deliver," said Steve Bakos, Chief Revenue Officer and General Manager of Enovix.

Enovix said it expects additional pipeline opportunities to convert into purchase orders in coming quarters. The company is headquartered in Fremont, Calif., with manufacturing operations in South Korea, India, and Malaysia.

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