AI Power Roadmap of 3.2 kW, 4.5 kW, and 8.5 kW PSUs enable new levels of energy efficiency, reduced electricity costs, and extended lifetime.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 ...

TORRANCE, Calif., March 13, 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 latest breakthrough of the world's first production-released 650 V bi-directional GaNFast ICs and high-speed isolated gate-drivers, creating a paradigm shift in power with single-stage BDS converters, which enables the transition from two-stage to s ...

Core Insights - Navitas Semiconductor experienced a significant stock sell-off, with a 22.7% decline in share price over the last week of trading [1] - The company's fourth-quarter earnings report was below market expectations, contributing to the stock's decline [2][3] - Broader macroeconomic concerns and Nvidia's Q4 results also negatively impacted Navitas' stock performance [5][6] Financial Performance - Navitas reported a loss per share of $0.21 on sales of $17.98 million for the fourth quarter, which was worse than the Wall Street analyst estimate of a loss of $0.14 on sales of $19.03 million [3] - Revenue for the fourth quarter decreased by 31% compared to the same period last year [3] - For the first quarter, Navitas expects sales to be between $13 million and $15 million, indicating an annual sales decline of approximately 39.6% at the midpoint of the guidance range [4] Market Context - The sell-off in Navitas' stock was exacerbated by a general trend of investors moving away from growth-dependent tech stocks due to new macroeconomic risks [2][5] - Nvidia's Q4 report raised concerns about potential impacts from new export restrictions on semiconductors, contributing to bearish sentiment in the AI and semiconductor sectors [6]

Group 1 - The core viewpoint is a bullish stance on Navitas Semiconductor (NASDAQ: NVTS) due to its growing customer pipeline and anticipated growth in GaN adoption despite a slowdown in growth [1] - The company has been experiencing a growth slowdown since last August, but the outlook remains positive based on market trends and customer acquisition [1] Group 2 - The analyst's background includes experience as a managing editor at a financial media publication focused on mid and small caps, which aids in identifying undervalued investment opportunities [1] - The analysis emphasizes thorough research and analysis of financial statements, market trends, and upcoming events that may impact the company or industry [1]

Core Viewpoint - Navitas Semiconductor's stock has experienced a significant decline due to disappointing fourth-quarter results and negative market conditions affecting tech and AI stocks [1][4]. Financial Performance - Navitas reported a loss of $0.21 per share on revenue of $18 million for Q4, missing Wall Street's expectations of a loss of $0.14 per share on approximately $19 million in sales [2]. - Revenue for the fourth quarter fell 31% year over year, and the operating loss increased to $39 million from $26.8 million in the same quarter last year [2]. Forward Guidance - For the first quarter, Navitas expects sales to be between $13 million and $15 million, indicating another significant sequential decline [3]. - Management has guided for a gross margin of approximately 38%, a notable increase from the 12.4% gross margin in Q4 and the 34.4% margin for the year [3]. Market Conditions - The decline in Navitas's stock is compounded by broader valuation pressures in the tech sector, driven by macroeconomic concerns such as inflation and potential new tariffs [4]. - Investors are also wary of potential weaker-than-expected results from Nvidia, a key customer for Navitas, which could lead to further volatility in the market [5].

Core Insights - Navitas Semiconductor (NVTS) reported a non-GAAP loss of 6 cents per share for Q4 2024, which was in line with the Zacks Consensus Estimate but wider than the loss of 4 cents in the same quarter last year [1][2] - The company's net revenues of $18 million missed the Zacks Consensus Estimate by 6.03% and declined 31% year over year due to industry headwinds and a slowdown in key semiconductor markets [2] - Following the disappointing results, NVTS shares fell 14.21% in after-hours trading [3] Financial Performance - Non-GAAP gross margin contracted by 190 basis points year over year to 40.2% [4] - Non-GAAP R&D expenses increased by 4.1% year over year to $11.9 million, representing 66.1% of revenues compared to 43.8% in the previous year [4] - Non-GAAP SG&A expenses decreased by 14% year over year to $8 million, accounting for 44.5% of revenues compared to 35.7% in the year-ago quarter [5] - The company reported a non-GAAP operating loss of $12.7 million, indicating a 30% decline year over year, with operating margin contracting by 33% [6] Business Highlights - Navitas achieved record revenues in gallium nitride (GaN) products across mobile, consumer, and appliance sectors, while facing challenges in its silicon carbide (SiC) business due to a slowdown in solar, industrial, and electric vehicle markets [7] - The company secured $450 million in customer design wins, particularly in the data center and EV sectors, with a customer pipeline expanding 92% year over year to $2.4 billion [8] - Navitas reported the highest growth in revenues and design wins within the data center sector, securing 40 customer project wins from leading ODMs in Asia [9] - In the mobile sector, Navitas achieved over 180 design wins for GaN chargers, including significant wins with a top-five global smartphone brand [10] Balance Sheet - As of December 31, 2024, cash and cash equivalents were $86.7 million, down from $98.6 million as of September 30, 2024, with the company operating with no debt [12] Q1 Guidance - For Q1 2025, Navitas anticipates net revenues of $13-$15 million, with a non-GAAP gross margin expected at 38% plus or minus 50 basis points, and non-GAAP operating expenses estimated at $18 million [13]

Financial Data and Key Metrics Changes - The company reported an all-time high revenue of $83 million for the full year 2024, representing a 5% increase from $79.5 million in 2023 [8][22] - Fourth quarter revenue was $18 million, consistent with guidance, but showed a decline primarily due to lower revenues in the EV, solar, and industrial markets [21][22] - Non-GAAP gross margin for the full year 2024 was 40.4%, down from 41.8% in 2023, attributed to a less favorable market mix [24] Business Line Data and Key Metrics Changes - The GaN business grew over 50% in 2024, driven by strong demand in mobile, consumer, and appliance segments, with initial data center revenues starting in the second half of the year [9][23] - The EV pipeline expanded to over $900 million, up from $400 million a year ago, now representing nearly 40% of the total $2.4 billion pipeline [15] - The data center sector saw the highest growth rates with 40 customer project wins throughout the year, significantly increasing the customer pipeline to over $165 million [11][12] Market Data and Key Metrics Changes - The customer pipeline nearly doubled from $1.25 billion at the end of 2023 to $2.4 billion at the end of 2024, indicating strong expected expansion in major markets [10] - The company expects a Q1 revenue decline due to typical seasonality and ongoing inventory corrections in the solar, EV, and industrial markets, with a modest recovery anticipated in Q2 [20][28] Company Strategy and Development Direction - The company is focusing on strategic applications in the EV space, leveraging both GaN and silicon carbide technologies, particularly in onboard and roadside chargers [39][41] - A major technology announcement is planned for March 12, which is expected to accelerate the adoption of GaN and silicon carbide in multi-billion dollar markets [19] Management's Comments on Operating Environment and Future Outlook - Management views Q1 as a cyclical bottom, with expectations for recovery starting in Q2 and healthy growth in the second half of 2025 [36] - The company is cautiously optimistic about the solar market as GaN adoption is expected to increase mid-year, while the EV market shows signs of improvement, particularly in China [35][92] Other Important Information - The company ended Q4 with $87 million in cash and no debt, indicating a strong liquidity position [27][68] - Operating expenses for Q1 are expected to be reduced to $18 million, with a target of approximately $15.5 million per quarter thereafter [31][46] Q&A Session Summary Question: Where do you think the cyclical bottom is? - Management believes Q1 represents a cyclical bottom, with recovery expected to start in Q2 and healthy growth in the second half of the year [36] Question: How is the silicon carbide market performing? - The market slowdown is primarily due to declines in EV, solar, and industrial sectors, but management is optimistic about future growth driven by design wins in the EV space [39] Question: What is the expected operating expense level beyond Q1? - Operating expenses are expected to stabilize at approximately $15.5 million, with no further fat to trim as the business is right-sized for growth [46][47] Question: Can you describe the design wins in the data center space? - The company achieved 40 design wins in the data center sector, with a focus on high-density power supplies, indicating strong market demand [11][102] Question: How is the competitive landscape changing? - Management has observed stabilization in ASP erosion and inventory levels, particularly in the silicon carbide market, while GaN remains healthier [86] Question: What is the outlook for 2025 sales between GaN and silicon carbide? - Both technologies are expected to grow, with a focus on data centers and EV onboard chargers driving demand for both GaN and silicon carbide [92]

Financial Performance - Navitas Semiconductor Corporation (NVTS) reported a quarterly loss of $0.06 per share, consistent with the Zacks Consensus Estimate, compared to a loss of $0.04 per share a year ago [1] - The company posted revenues of $17.98 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 6.03%, and down from $26.06 million year-over-year [2] - Over the last four quarters, Navitas has not surpassed consensus EPS estimates and has topped consensus revenue estimates only twice [2][3] Market Performance - Navitas Semiconductor shares have declined approximately 11.2% since the beginning of the year, while the S&P 500 has gained 2.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.07 on revenues of $16.74 million, and for the current fiscal year, it is -$0.21 on revenues of $88.23 million [7] Industry Outlook - The Electronics - Semiconductors industry, to which Navitas belongs, is currently ranked in the bottom 48% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Navitas's stock performance [5][6]

• Revenue: Total revenue grew to $83.3 million in 2024, a 5% increase from $79.5 million in 2023. • Loss from Operations: GAAP loss from operations for the year was $130.7 million, compared to a loss of $118.1 million for 2023. On a non-GAAP basis, loss from operations for the year was $49.7 million compared to a loss of $40.3 million for 2023. Exhibit 99.1 Navitas Semiconductor Announces Fourth Quarter and Full Year 2024 Financial Results TORRANCE, Calif., Feb. 24, 2025 — Navitas Semiconductor (Nasdaq: NVT ...

Core Insights - Navitas Semiconductor reported unaudited financial results for Q4 and FY 2024, highlighting growth in GaN revenues despite industry challenges [1][2] - The company achieved record GaN revenues, particularly in mobile, consumer, and appliance sectors, and secured $450 million in customer design-wins, indicating strong future growth potential [2][6] Q4 2024 Financial Highlights - Total revenue for Q4 2024 was $18.0 million, a decrease from $26.1 million in Q4 2023 and $21.7 million in Q3 2024 [7] - GAAP loss from operations for Q4 2024 was $39.0 million, compared to a loss of $26.8 million in Q4 2023 [7] - Cash and cash equivalents stood at $86.7 million as of December 31, 2024 [7] FY 2024 Financial Highlights - Total revenue for FY 2024 increased by 5% to $83.3 million from $79.5 million in 2023 [7] - GAAP loss from operations for the year was $130.7 million, up from a loss of $118.1 million in 2023 [7] - Customer pipeline grew by 92% to $2.4 billion by December 2024 [7] Market, Customer, and Technology Highlights - The data center market is the fastest-growing segment, now valued at $165 million, driven by AI applications [7] - Over 40 customer wins in the EV sector were reported, with a focus on SiC technology for onboard and roadside chargers [7] - GaN technology adoption in mobile chargers reached 10% globally, with over 180 customer wins in 2024 [7] Business Outlook - For Q1 2025, net revenues are expected to be between $13.0 million and $15.0 million, with a non-GAAP gross margin projected at 38% [8]