High-power GaNSafe ICs bring production-ready performance to EVs, unlocking unprecedented power density and efficiency for on-board chargers (OBCs) and HV-LV DC-DC converters applications TORRANCE, Calif., April 15, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, has announced its high-power GaNSafe™ ICs achieve automotive qualification f ...

GaNSense™ technology boosts 8x power for AI data centers, telecommunications, and industrial equipment in ultra-high power density DC-DC converters Navitas Partners with Great Wall Power for Next Generation 400V-DC Power Architecture for AI Data Centers GaNSense™ technology boosts 8x power for AI data centers, telecommunications, and industrial equipment in ultra-high power density DC-DC converters. TORRANCE, Calif., April 09, 2025 (GLOBE NEWSWIRE) -- In a release issued under the headline "Navitas Partn ...

Joint lab collaboration expected to accelerate GaN & SiC adoption in AI data centers, EV, solar and energy storage systems (ESS) Navitas & GigaDevice Announce Partnership to Combine Power & Control for Next-Gen, High-Frequency, High-Efficiency, & High-Density Power Platforms Joint lab collaboration expected to accelerate GaN & SiC adoption in AI data centers, EV, solar and energy storage systems (ESS) TORRANCE, Calif., April 09, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the only pure ...

TORRANCE, Calif., April 09, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (NASDAQ:NVTS), the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, has announced a new strategic partnership with GigaDevice, a world-leader in microcontrollers (MCUs) and flash memory, to create a joint-lab for integrating and tailoring Navitas' GaNFast™ ICs & GigaDevice's Microcontrollers, targeting AI data centers, EVs, Solar, ...

Navitas Semiconductor’s (NVTS) GaNSense power ICs are being used in China-based switching power supplies solution provider Greatwall Power’s latest 2.5kW ultra-high power density DC-DC converter for AI data centers.Navitas’ NV6169 GaN solution delivers 50% more power than previous versions to GreatWall’s latest DC-DC converter. This integration supports applications that demand high efficiency and power density, ensuring optimal performance, even in the most demanding environments. This innovation not only ...

TORRANCE, Calif., April 03, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (NASDAQ:NVTS), the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, has announced its GaNSense power ICs will power GreatWall's latest 2.5kW ultra-high power density DC-DC converter for AI data centers. The rapid development of AI has imposed higher requirements for computing power on data centers. To accommodate more GPUs for comp ...

High-power GaNSafe™ & GeneSiC MOSFETs power new levels of energy efficiency, reduce electricity costs, and extend system lifetime. TORRANCE, Calif., April 01, 2025 (GLOBE NEWSWIRE) -- In a release issued on March 17, 2025 by Navitas Semiconductor (Nasdaq: NVTS), please note registered trademarks, CLEAResult certification information, and an updated image have been added and references to the APEC 2025 conference have been removed. The corrected release follows: Navitas Semiconductor (Nasdaq: NVTS), the only ...

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Financial Performance - Net revenues for the year ended December 31, 2024, were $83.3 million, an increase of $3.8 million or 5% compared to $79.5 million in 2023, primarily driven by growth in mobile markets[198]. - The net loss for 2024 was $84.6 million, a decrease of $61.4 million or 42% compared to a net loss of $145.9 million in 2023[197]. - The company reported a basic net loss per share of $0.46 for 2024, compared to $0.86 for 2023[255]. - The company recognized a net gain of $3.9 million from its equity method investment for the year ended December 31, 2024[181]. - Operating loss for 2024 was $130.7 million, compared to a loss of $118.1 million in 2023, reflecting an increase in operating expenses[328]. Research and Development - Research and development expenses for 2024 were $76.0 million, up $7.2 million or 10% from 2023, driven by increased product development related to EV, enterprise, and solar[200]. - Research and development expenses included significant costs related to product design and development, contributing to total operating expenses of $159.0 million in 2024, up from $149.2 million in 2023[328]. - Navitas Semiconductor Corporation reported that research and development expenses represented approximately 91% and 87% of revenue for the years ended December 31, 2024 and 2023, respectively[180]. Acquisitions and Investments - Navitas acquired GeneSiC Semiconductor for a total consideration of $244.0 million, including $146.3 million in equity and $97.1 million in cash[185]. - The company announced the acquisition of the remaining minority interest in its silicon control IC joint venture for approximately $22.4 million in Navitas stock[184]. - The total merger consideration for GeneSiC included potential future earn-out payments of up to $25.0 million in cash[185]. - The company completed a public offering of 10,000,000 shares at a price of $8.00 per share, raising net proceeds of $86.5 million for working capital and potential acquisitions[182][183]. Cash Flow and Liquidity - As of December 31, 2024, cash and cash equivalents were $86.7 million, a decrease of $65.2 million or 43% compared to the previous year[213]. - Net cash used in operating activities for 2024 was $58.8 million, reflecting a net loss adjusted for non-cash items[214]. - Cash, cash equivalents, and restricted cash at the end of 2024 totaled $88,240 thousand, down from $152,839 thousand at the end of 2023[261]. - The company expects to continue incurring net operating losses and negative cash flows from operations in the near term[209]. Inventory and Assets - The company's inventory balance was $15.5 million as of December 31, 2024, down from $22.2 million in 2023, indicating a decrease of approximately 30%[247]. - Total current assets decreased to $120.3 million in 2024 from $206.2 million in 2023, reflecting a decline of about 41.6%[252]. - The company's total assets decreased to $390.0 million in 2024 from $485.5 million in 2023, representing a reduction of approximately 19.6%[252]. - Accounts receivable decreased to $14.0 million in 2024 from $25.9 million in 2023, indicating a reduction in trade receivables[329]. - Total inventories decreased to $15.5 million in 2024 from $22.2 million in 2023, reflecting a reduction in raw materials and finished goods[334]. Liabilities and Equity - The company's total liabilities decreased from $104.9 million in 2023 to $42.0 million in 2024, a reduction of approximately 60%[252]. - The accumulated deficit increased from $300.2 million in 2023 to $384.8 million in 2024, indicating a worsening of approximately 28%[252]. - The additional paid-in capital increased from $680.8 million in 2023 to $732.8 million in 2024, reflecting an increase of about 7.6%[252]. Stock-Based Compensation - Stock-based compensation expense totaled $43,031,000 for the fiscal year ended December 31, 2024, down from $54,028,000 in 2023[359]. - The Company recognized $34.0 million and $31.5 million of stock-based compensation expense for RSUs in the years ended December 31, 2024 and 2023, respectively[369]. - The number of stock options outstanding decreased from 2,657,000 at December 31, 2023, to 1,499,000 at December 31, 2024, with a weighted-average exercise price of $0.74[362]. Operational Highlights - The company has entered mass production of GaN power ICs, utilized by 9 out of the top 10 global mobile OEMs, with all 10 currently in progress[179]. - Navitas has formed relationships with numerous Tier 1 manufacturers, gaining significant traction in mobile and consumer charging applications[179]. - The company operates as one reportable segment focused on the design, development, manufacture, and marketing of integrated circuits for next-generation power semiconductors[273].

TORRANCE, Calif., March 17, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (NASDAQ:NVTS), the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, has announced that its portfolio of 3.2kW, 4.5kW, and 8.5 kW AI data center power supply unit (PSU) designs exceed the new 80 PLUS ‘Ruby' certification, focused on the highest level of efficiency for redundant server data center PSUs. The 80 PLUS certification pro ...