TORRANCE, Calif., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, has announced GaNSlim™, a new generation of highly-integrated GaN power ICs that will further simplify and speed the development of small form factor, high-power-density applications by offering the highest level of integration and thermal performance. GaNSlim enables the simplest, fastest, and ...

TORRANCE, Calif., Oct. 09, 2024 (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 high-power GaNSafe family is now available in a TOLT (Transistor Outline Leaded Top-side cooling) package. The GaNSafe family has been specifically created to serve demanding, high-power applications, such as AI data centers, solar/energy sto ...

TORRANCE, Calif., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, today announced the release of a portfolio of third-generation automotive-qualified SiC MOSFETs in D2PAK-7L (TO-263-7) and TOLL (TO-Leadless) surface-mount (SMT) packages. Navitas' proprietary 'trench-assisted planar' technology provides world-leading performance over temperature and delivers ...

Company Overview - Navitas Semiconductor Company specializes in gallium nitride (GaN) power integrated circuits and associated components, targeting applications in mobile devices, consumer electronics, data centers, solar inverters, and electric vehicles (EVs) [4] - Founded in 2013, Navitas is a pioneer in the GaN market, with a proprietary GaN power IC platform that is in mass production for tier-1 companies like Samsung, Dell, Lenovo, and Amazon [5] Market Position and Opportunities - Navitas holds a strong intellectual property position with a comprehensive patent portfolio and proprietary process design kit (PDK), which supports its research and development efforts [5] - The company is targeting high-growth markets, including Enterprise/AI Data Centers, EV/eMobility, Appliance/Industrial, and Solar/Energy Storage, with significant projects in development [6][7] Industry Growth Potential - The gallium nitride device market is projected to grow from $126 million in 2021 to $2 billion in 2027, reflecting a compound annual growth rate of 59%, driven by demand in consumer electronics, data centers, and electric vehicles [8] - The robotics revolution, powered by artificial intelligence, is expected to create additional demand for GaN technology, potentially unlocking trillions in economic value from 2025 to 2035 [9][10] Financial Challenges - As of June 30, 2024, Navitas had $112.0 million in cash and cash equivalents, with a GAAP loss from operations of $31.1 million for the most recent quarter [11] - The company has experienced significant dilution in outstanding shares and a sharp decline in share price, with projected revenue of around $148 million in 2025, indicating ongoing cash flow challenges [12] Investment Considerations - Steven Cohen's Point72 hedge fund has been increasing its stake in Navitas, indicating a belief in the company's potential amidst the semiconductor industry's shift from silicon to GaN technology [13] - While Navitas presents growth potential, investors should consider the financial risks associated with the company's current challenges before making investment decisions [14][15]

Eduardo Fuentes Guevara/E+ via Getty Images Despite operating in the promising semiconductor sector, Navitas Semiconductor (NASDAQ:NVTS) has been one of the worst performers of the year so far with its stock down more than 61% YTD. The main reason for this substantial drop in the company's share price is soft demand for its power semiconductors in light of the current multi-decade high interest rates and weakening EV demand which have caused the company's top line growth to decelerate substantially in the f ...

TORRANCE, Calif., Aug. 15, 2024 (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 participation in the following upcoming investor events: Needham: 5th-Annual Needham Virtual Semiconductor & SemiCap 1x1 Conference August 21st: 1-on-1 meetings with Gene Sheridan, CEO, Janet Chou, CFO, and Stephen Oliver, VP Investor Relations. Locati ...

Navitas Semiconductor Corporation (NASDAQ:NVTS) Q2 2024 Earnings Conference Call August 5, 2024 5:00 PM ET Company Participants Stephen Oliver - VP, IR Gene Sheridan - Chairman, President, CEO and Co-Founder Janet Chou - EVP, CFO, and Treasurer Conference Call Participants Ross Seymore - Deutsche Bank Blayne Curtis - Jefferies Quinn Bolton - Needham Jack Egan - Charter Equity Research Kevin Cassidy - Rosenblatt Joseph Moore - Morgan Stanley Jon Tanwanteng - CJS Securities Richard Shannon - Craig-Hallum Oper ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number: 001-39755 Navitas Semiconductor Corporation (Exact name of registrant as specified in its charter) Delaware 85-2560226 ...

Revenue and Financial Performance - Q2 2024 revenue grew to $20.5 million, a 13% increase from $18.1 million in Q2 2023[2] - Net revenues for Q2 2024 increased to $20.47 million, up 13.3% from $18.06 million in Q2 2023[11] - Q3 2024 net revenues are expected to be $22.0 million plus or minus $500 thousand, with non-GAAP gross margin expected to be 40% plus or minus 50 basis points[4] Operating Loss and Expenses - GAAP loss from operations for Q2 2024 was $31.1 million, compared to a loss of $27.2 million in Q2 2023[2] - Non-GAAP loss from operations for Q2 2024 was $13.3 million, compared to a loss of $9.6 million in Q2 2023[2] - Non-GAAP loss from operations was $13.31 million in Q2 2024, up 39.4% from $9.55 million in Q2 2023[12] - Research and development expenses increased to $18.97 million in Q2 2024, up 13.0% from $16.79 million in Q2 2023[11] - Non-GAAP operating expenses totaled $21.55 million in Q2 2024, up 26.4% from $17.04 million in Q2 2023[12] - Total stock-based compensation expenses were $13.09 million in Q2 2024, up 4.1% from $12.57 million in Q2 2023[12] Gross Margin and Profitability - Gross margin improved to 19.7% in Q2 2024 compared to 19.5% in Q2 2023[11] - Non-GAAP gross margin reached 40.3% in Q2 2024, slightly down from 41.5% in Q2 2023[12] Net Loss and Earnings Per Share - Net loss attributable to controlling interest decreased to $22.33 million in Q2 2024 from $58.53 million in Q2 2023[11] - Net loss per share improved to $0.12 in Q2 2024 from $0.35 in Q2 2023[11] - Non-GAAP net loss for the period was $(12,047) thousand, compared to $(8,648) thousand in the previous period[13] - Non-GAAP net loss per share (basic and diluted) was $(0.07), compared to $(0.05) in the previous period[13] - Average shares outstanding for the calculation of non-GAAP net loss per share were 183,127 thousand[13] Cash and Assets - Cash and cash equivalents were $112.0 million as of June 30, 2024, with no debt[2] - Total current assets as of December 31, 2023, were $207,109 thousand, including $152,839 thousand in cash and cash equivalents[14] - Intangible assets, net, stood at $91,099 thousand as of December 31, 2023[14] - Goodwill was reported at $163,215 thousand as of December 31, 2023[14] - Total assets as of December 31, 2023, were $485,546 thousand[14] - Stockholders' equity was reported at $380,617 thousand as of December 31, 2023[14] Liabilities and Equity - Total liabilities amounted to $104,929 thousand, with current liabilities at $48,487 thousand[14] Customer Pipeline and Design Wins - Customer pipeline for AI data centers doubled since December 2023, with over 60 customer projects in development and 7 new data center design wins in Q2[3] - EV/eMobility customer pipeline now includes over 200 projects, with 15 design wins in Q2 and first GaN revenues in EV expected by the end of 2025[3] - Appliance/Industrial customer pipeline grew beyond $380 million, with 25 new project wins expected to ramp production in 2025 or 2026[3] - Solar/Energy Storage customer pipeline includes over 100 projects, with 6 new commercial design wins in Q2 and expected US GaN-based micro-inverter ramp next year[3] - Mobile/Consumer GaN adoption at Xiaomi and OPPO is expected to reach 30% in 2024, with 16 new GaNFast chargers launched in Q2, bringing the total to over 470 designs[3] Shares and Amortization - Shares used in per share calculation increased to 183,127 in Q2 2024 from 165,606 in Q2 2023[11] - Amortization of acquisition-related intangible assets was $4,774 thousand, compared to $4,773 thousand in the previous period[13]

TORRANCE, Calif., Aug. 05, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (NASDAQ:NVTS), the industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, today announced that Samsung had expanded adoption of Navitas' GaNFast ICs from the original flagship Galaxy S22, S23 and S24 to the mainstream Galaxy A, and revolutionary Galaxy Z Fold6 and Galaxy Z Flip6 smartphones with enhanced Galaxy AI features. GaN runs up to 20x faster than legacy silico ...