Enovix Corp (NASDAQ:ENVX) shares jumped 10.4% in premarket trading Wednesday after the company announced a purchase order for 100,000 battery units from a multinational drone systems provider.
The lithium-ion battery manufacturer said deliveries are scheduled for the first half of 2027 as the customer scales its use of Enovix cells manufactured at the company’s TAA-compliant, military-qualified facility in South Korea. The customer is expected to place follow-on orders for the program in the second half of 2027 and beyond following successful initial deployment.
The order moves one opportunity from the approximately $216 million drone, defense and industrial pipeline Enovix reported on October 12, 2026 into backlog. The company said it is among the fourth quarter 2026 purchase orders referenced in that release.
“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. “It confirms that our technology performs in demanding applications and that our TAA-compliant, in-house manufacturing has real value to customers who need a secure source of supply.”
Enovix expects additional pipeline opportunities to convert into purchase orders in the coming quarters.
The company develops and manufactures advanced lithium-ion batteries, including proprietary silicon-anode architectures for smartphones, smart eyewear, defense, industrial and emerging edge-AI applications.