Navitas Semiconductor Corporation (NVTS) came out with a quarterly loss of $0.06 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post a loss of $0.07 per share when it actually produced a loss of $0.07, delivering no surprise.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Navitas Semiconductor, which belo ...

Record sales in GaN mobile fast-charger marketNew, low-voltage GaN technology enters 48V AI data center, EV and robotics marketsStrategic partnership with Infineon Technologies enables customer dual sourcingStreamlined market focus and cost structure improve path to profitability TORRANCE, Calif., Nov. 04, 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 (Si ...

TORRANCE, Calif., Oct. 28, 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 it will preview several breakthroughs at electronica 2024 (Hall C 3, booth 129, November 12th- 15th). Aligned with the mission to 'Electrify our World™', the "Planet Navitas" booth invites visitors to discover how next-gen GaN and SiC technology enabl ...

Navitas Semiconductor (NVTS) shares have gained 6.6% in a month, outperforming the broader Zacks Computer and Technology sector's return of 1.8%. Over the same time frame, it has also outperformed the Zacks Electronics- Semiconductors industry and peers, including Cirrus Logic (CRUS) , FormFactor (FORM) and Ambarella (AMBA) . Shares of Cirrus Logic and FormFactor have lost 1.8% and 1.4%, respectively, while Ambarella has gained 3.1% in the same time frame. The industry appreciated 5.1% in a month. This outp ...

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., 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 ...

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 ...

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]