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Side-by-side financial comparison of Enovix Corp (ENVX) and ROCKWELL MEDICAL, INC. (RMTI). Click either name above to swap in a different company.
ROCKWELL MEDICAL, INC. is the larger business by last-quarter revenue ($18.3M vs $11.3M, roughly 1.6× Enovix Corp). ROCKWELL MEDICAL, INC. runs the higher net margin — -3.0% vs -310.6%, a 307.6% gap on every dollar of revenue. On growth, Enovix Corp posted the faster year-over-year revenue change (15.9% vs -25.6%). ROCKWELL MEDICAL, INC. produced more free cash flow last quarter ($2.2M vs $-28.0M). Over the past eight quarters, Enovix Corp's revenue compounded faster (46.2% CAGR vs -10.1%).
Enovix Corp is an advanced battery technology company that designs, develops and manufactures high-energy-density 3D silicon anode lithium-ion batteries. Its products serve consumer electronics, wearable devices, electric vehicles, and renewable energy storage segments, with customers and operations across North America, Asia and Europe.
Rockwell Medical Inc. is a publicly traded pharmaceutical company based in Wixom, Michigan and founded in 1996 that focuses on development and commercialization of treatments against diseases such as end-stage renal disease (ESRD) and chronic kidney disease (CKD).
ENVX vs RMTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.3M | $18.3M |
| Net Profit | $-35.0M | $-554.0K |
| Gross Margin | 22.2% | 21.1% |
| Operating Margin | -390.5% | -2.2% |
| Net Margin | -310.6% | -3.0% |
| Revenue YoY | 15.9% | -25.6% |
| Net Profit YoY | 6.6% | 26.7% |
| EPS (diluted) | $-0.14 | $-0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $11.3M | $18.3M | ||
| Q3 25 | $8.0M | $15.9M | ||
| Q2 25 | $7.5M | $16.1M | ||
| Q1 25 | $5.1M | $18.9M | ||
| Q4 24 | $9.7M | $24.7M | ||
| Q3 24 | $4.3M | $28.3M | ||
| Q2 24 | $3.8M | $25.8M | ||
| Q1 24 | $5.3M | $22.7M |
| Q4 25 | $-35.0M | $-554.0K | ||
| Q3 25 | $-53.7M | $-1.8M | ||
| Q2 25 | $-44.5M | $-1.5M | ||
| Q1 25 | $-23.5M | $-1.5M | ||
| Q4 24 | $-37.5M | $-756.0K | ||
| Q3 24 | $-22.5M | $1.7M | ||
| Q2 24 | $-115.9M | $343.0K | ||
| Q1 24 | $-46.4M | $-1.7M |
| Q4 25 | 22.2% | 21.1% | ||
| Q3 25 | 17.5% | 14.3% | ||
| Q2 25 | 26.0% | 15.6% | ||
| Q1 25 | 5.1% | 16.1% | ||
| Q4 24 | 10.8% | 14.7% | ||
| Q3 24 | -14.9% | 22.0% | ||
| Q2 24 | -17.4% | 17.6% | ||
| Q1 24 | -34.1% | 13.5% |
| Q4 25 | -390.5% | -2.2% | ||
| Q3 25 | -587.9% | -9.9% | ||
| Q2 25 | -585.6% | -8.4% | ||
| Q1 25 | -834.8% | -7.2% | ||
| Q4 24 | -355.2% | -2.1% | ||
| Q3 24 | -1141.2% | 6.8% | ||
| Q2 24 | -2355.4% | 2.0% | ||
| Q1 24 | -1330.3% | -5.8% |
| Q4 25 | -310.6% | -3.0% | ||
| Q3 25 | -672.3% | -11.0% | ||
| Q2 25 | -596.3% | -9.3% | ||
| Q1 25 | -461.2% | -8.0% | ||
| Q4 24 | -385.6% | -3.1% | ||
| Q3 24 | -522.0% | 5.9% | ||
| Q2 24 | -3075.2% | 1.3% | ||
| Q1 24 | -879.5% | -7.6% |
| Q4 25 | $-0.14 | $-0.01 | ||
| Q3 25 | $-0.27 | $-0.05 | ||
| Q2 25 | $-0.22 | $-0.05 | ||
| Q1 25 | $-0.12 | $-0.04 | ||
| Q4 24 | $0.00 | $-0.02 | ||
| Q3 24 | $-0.28 | $0.04 | ||
| Q2 24 | $-0.63 | $0.01 | ||
| Q1 24 | $-0.28 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $512.0M | $10.7M |
| Total DebtLower is stronger | $519.5M | — |
| Stockholders' EquityBook value | $271.2M | $37.0M |
| Total Assets | $879.0M | $57.1M |
| Debt / EquityLower = less leverage | 1.92× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $512.0M | $10.7M | ||
| Q3 25 | $558.8M | $13.6M | ||
| Q2 25 | $203.4M | $12.5M | ||
| Q1 25 | $248.2M | $11.4M | ||
| Q4 24 | $272.9M | $15.7M | ||
| Q3 24 | $200.9M | $12.3M | ||
| Q2 24 | $249.9M | $11.9M | ||
| Q1 24 | $262.4M | $6.6M |
| Q4 25 | $519.5M | — | ||
| Q3 25 | $518.6M | — | ||
| Q2 25 | $169.7M | — | ||
| Q1 25 | $169.4M | — | ||
| Q4 24 | $170.0M | — | ||
| Q3 24 | $168.9M | — | ||
| Q2 24 | $170.1M | — | ||
| Q1 24 | $169.8M | — |
| Q4 25 | $271.2M | $37.0M | ||
| Q3 25 | $294.3M | $37.0M | ||
| Q2 25 | $203.7M | $30.4M | ||
| Q1 25 | $235.1M | $31.5M | ||
| Q4 24 | $246.7M | $32.6M | ||
| Q3 24 | $167.6M | $29.1M | ||
| Q2 24 | $170.3M | $23.5M | ||
| Q1 24 | $229.3M | $20.6M |
| Q4 25 | $879.0M | $57.1M | ||
| Q3 25 | $913.7M | $57.5M | ||
| Q2 25 | $469.1M | $52.6M | ||
| Q1 25 | $499.0M | $54.0M | ||
| Q4 24 | $527.2M | $59.2M | ||
| Q3 24 | $448.0M | $57.1M | ||
| Q2 24 | $489.0M | $53.0M | ||
| Q1 24 | $508.9M | $50.7M |
| Q4 25 | 1.92× | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 0.83× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 0.69× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 0.74× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-27.0M | $2.3M |
| Free Cash FlowOCF − Capex | $-28.0M | $2.2M |
| FCF MarginFCF / Revenue | -248.6% | 12.0% |
| Capex IntensityCapex / Revenue | 8.9% | 0.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-113.5M | $-1.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-27.0M | $2.3M | ||
| Q3 25 | $-25.5M | $-1.3M | ||
| Q2 25 | $-25.9M | $1.8M | ||
| Q1 25 | $-16.9M | $-3.5M | ||
| Q4 24 | $-16.0M | $865.0K | ||
| Q3 24 | $-30.7M | $4.3M | ||
| Q2 24 | $-26.9M | $1.4M | ||
| Q1 24 | $-35.0M | $-2.4M |
| Q4 25 | $-28.0M | $2.2M | ||
| Q3 25 | $-28.5M | $-1.5M | ||
| Q2 25 | $-33.8M | $1.7M | ||
| Q1 25 | $-23.2M | $-3.5M | ||
| Q4 24 | $-32.3M | $470.0K | ||
| Q3 24 | $-50.2M | $4.1M | ||
| Q2 24 | $-52.2M | $1.2M | ||
| Q1 24 | $-50.1M | $-2.5M |
| Q4 25 | -248.6% | 12.0% | ||
| Q3 25 | -356.7% | -9.6% | ||
| Q2 25 | -453.0% | 10.5% | ||
| Q1 25 | -454.7% | -18.8% | ||
| Q4 24 | -332.6% | 1.9% | ||
| Q3 24 | -1163.2% | 14.4% | ||
| Q2 24 | -1384.2% | 4.5% | ||
| Q1 24 | -950.9% | -11.1% |
| Q4 25 | 8.9% | 0.5% | ||
| Q3 25 | 37.2% | 1.4% | ||
| Q2 25 | 106.7% | 1.0% | ||
| Q1 25 | 123.0% | 0.3% | ||
| Q4 24 | 168.3% | 1.6% | ||
| Q3 24 | 452.5% | 0.7% | ||
| Q2 24 | 669.0% | 1.1% | ||
| Q1 24 | 286.2% | 0.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.57× | ||
| Q2 24 | — | 4.20× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENVX
Segment breakdown not available.
RMTI
| US | $15.9M | 87% |
| Non Us | $2.4M | 13% |
