The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Gabe Daoud - Cowen and Company - Analyst
: Great. Thanks, Cam. That's a good a table setter. And you noted the revenue funnel and a lot of questions we've been getting lately from investors
is on that revenue funnel and the potential with the, quote-unquote, strategic accounts that you guys highlighted last quarter. So can we maybe
dive into the revenue funnel a bit more in detail, talk a little bit about the opportunity within strategic accounts and ultimately timeline to getting
into real products?
Question: Gabe Daoud - Cowen and Company - Analyst
: That's helpful. And you talked about -- and this may be working backwards a little bit, but the premium market that is the consumer electronics
market. And especially if you have a better product it could command premium pricing. So could you maybe talk a little bit about the decision to
first focus on consumer electronics before pivoting to automotive?
Question: Gabe Daoud - Cowen and Company - Analyst
: Awesome. Definitely want to segue into Enovix mobility in a minute, but just back to the strategic accounts created towards $1 billion market cap,
there's only so many of those globally. So certainly excited by the potential to -- you think down the line, maybe Enovix becomes a volume supplier
to one or maybe all these companies.
But can you just talk about -- and you hit on this on the call last quarter, but you mentioned that there's a sense of urgency with some of these
companies to really accelerate the efforts here and design Enovix batteries into some of these products, whether it's a wearable or a mobile phone.
So maybe talk a little bit about that sense of urgency that you noted, and then we'll jump into some more. So -- but would love to just hit on that
point again.
Question: Gabe Daoud - Cowen and Company - Analyst
: Okay. Very interesting. let's maybe just help folks on the line understand a little bit more what the qualification appears to look like for consumer
products. So let's say, I call Enovix and I'd like my battery to be in the Apple Series A watch next year or the iPhone 15 next year. When does the
engagement start? Walk me through from start to finish, how long does that take?
Question: Gabe Daoud - Cowen and Company - Analyst
: Okay.
Question: Gabe Daoud - Cowen and Company - Analyst
: Very helpful. Okay. Let's go ahead and shift to the EV opportunity. You have this Enovix Mobility subsidiary, you hired Pat Donnelly from Samsung.
Obviously, the commercialization efforts are really accelerating here. Could you talk about the opportunity? I think initially you had said you expect
first revenue from automotive by 2025. So just talk about that. And then what's the preferred route of commercialization? Is it a JV? Is it licensing?
Just maybe let's hit on all that, Cam.
Question: Gabe Daoud - Cowen and Company - Analyst
: Okay. Super helpful. And obviously a lot of potential there. Maybe just digging into the strategic accounts. So, have you said of any of the strategic
accounts is also -- are in the automotive space? And then also, I mean, you probably can't say, but just trying to think about, because you also
mentioned you're talking to cell manufacturers. But are any of your strategic accounts also a cell manufacturer?
Question: Gabe Daoud - Cowen and Company - Analyst
: Okay. Yes, I was just trying to get a sense -- obviously, there's a big auto OEM, maybe a mile and a half or so away from you in Fremont, but okay.
Maybe with the last minute or so, let's -- just talk to us about BrakeFlow. Maybe this is a bit underappreciated. You have a pretty cool video on the
website blowing some stuff up. But let's talk about BrakeFlow and really the potential there.
Question: Gabe Daoud - Cowen and Company - Analyst
: Cool. No, definitely, a pretty -- a differentiated feature, a pretty cool video, definitely check it out. But unfortunately, we're out of time. We'll have
to leave it there, Cam. So thanks so much for doing this. Good to see you. Good to get an update on the story and best of luck to the rest of 2022.
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