Enovix Corporation's stock experienced a pre-market plunge of 10.84% on Thursday, following the release of its first quarter 2026 financial results after the previous trading day's closing bell.

The battery developer reported a widening non-GAAP loss per share of $0.14 for the quarter, compared to a loss of $0.13 in the same period last year. While the company's revenue of $7.6 million exceeded analyst expectations, the increased loss and a weak forward outlook disappointed investors. Enovix provided second-quarter guidance projecting a non-GAAP loss between $0.13 and $0.17 per share on revenue of $8 million to $9 million, suggesting continued challenges in achieving profitability.

The market reaction reflects investor concerns over the company's ongoing losses despite revenue growth, with the negative sentiment carrying over from after-hours trading into the pre-market session.