Core Viewpoint - Navitas Semiconductor's GaN and SiC technologies have been selected to support NVIDIA's next-generation 800 V HVDC data center power infrastructure, which is designed to enhance power delivery for AI workloads and support 1 MW IT racks and beyond [1][15]. Group 1: Technology Collaboration - The collaboration between Navitas and NVIDIA focuses on the 800 V HVDC architecture, which aims to provide high-efficiency and scalable power delivery for AI workloads, improving reliability and reducing infrastructure complexity [2][4]. - Navitas' GaNFast™ and GeneSiC™ technologies will enable the powering of NVIDIA's GPUs, such as the Rubin Ultra, directly from the 800 V HVDC system [1][6]. Group 2: Advantages of 800 V HVDC - The existing data center architecture, which uses traditional 54 V in-rack power distribution, is limited to a few hundred kilowatts and faces physical limitations as power demand increases [3]. - The 800 V HVDC system allows for a reduction in copper wire thickness by up to 45%, significantly decreasing the amount of copper needed to power a 1 MW rack, which is crucial for meeting the gigawatt power demands of modern AI data centers [5][6]. - This architecture eliminates the need for additional AC-DC converters, directly powering IT racks and enhancing overall system efficiency [6][13]. Group 3: Performance and Efficiency - NVIDIA's 800 V HVDC architecture is expected to improve end-to-end power efficiency by up to 5%, reduce maintenance costs by 70% due to fewer power supply unit (PSU) failures, and lower cooling costs by connecting HVDC directly to IT and compute racks [13]. - Navitas has introduced several high-efficiency power supply units (PSUs), including a 12 kW PSU that meets 98% efficiency, showcasing the company's commitment to innovation in power delivery for AI data centers [12]. Group 4: Company Background - Navitas Semiconductor, founded in 2014, specializes in next-generation power semiconductors, focusing on GaN and SiC technologies for various markets, including AI data centers and electric vehicles [17]. - The company holds over 300 patents and is recognized for its commitment to sustainability, being the first semiconductor company to achieve CarbonNeutral® certification [17].

Core Insights - Navitas Semiconductor has launched a next-generation 12 kW power supply unit (PSU) designed for hyperscale AI data centers, achieving compliance with Open Rack v3 and Open Compute Project guidelines [1][2][7] - The PSU utilizes advanced technologies including Gen-3 Fast SiC MOSFETs and GaNSafe ICs, ensuring high efficiency and performance with a reported efficiency of 97.8% [10][2] Technology and Design - The PSU features a 3-phase interleaved totem-pole power factor correction (TP-PFC) powered by Gen-3 Fast SiC MOSFETs, which enhances performance and robustness, supporting faster charging for electric vehicles and more powerful AI data centers [3][5] - The IntelliWeave digital control system employs a hybrid control strategy, resulting in a 30% reduction in power losses compared to traditional Continuous Conduction Mode solutions [4][5] - The PSU's design includes a 3-phase interleaved full-bridge LLC topology, integrating control, drive, sensing, and protection features for enhanced reliability [5][6] Specifications and Features - The PSU dimensions are 790 x 73.5 x 40 mm, with an input voltage range of 180 – 305 VAC, capable of delivering 12 kW at input voltages above 207 VAC and 10 kW below this [6] - It includes multiple protection features such as active current sharing, over-current, over-voltage, under-voltage, and over-temperature protections, with an operating temperature range of -5 to 45°C [6] - The PSU is designed for applications ranging from 1 kW to 22 kW, with GaNSafe ICs available in various configurations [5][8] Market Position and Future Outlook - Navitas Semiconductor has seen a significant increase in output power from 2.7 kW to 12 kW in just over 24 months, highlighting its leadership in the AI power roadmap [7] - The company aims to provide efficient, simple, and cost-effective solutions to meet the growing power demands of modern data centers [7][8]

Core Insights - Navitas Semiconductor is showcasing its latest AI data center power supply unit (PSU) platform, which utilizes GaNSafe™, GeneSiC™, and IntelliWeave™ technologies to achieve industry-leading efficiency and power density for hyperscale data centers [1][10] - The company is addressing the growing power demands of AI and hyperscale data centers, with traditional power supply technologies struggling to keep pace due to the rapid increase in GPU power and AI cluster computing demand [2][5] Company Developments - Navitas has developed a series of next-generation PSUs, starting with a 2.7 kW common redundant power supply (CRPS) that offers 2x higher power density and a 30% reduction in energy loss, followed by a 3.2 kW CRPS that is 40% smaller than legacy silicon solutions [3] - The latest PSU, an 8.5 kW model, achieves 98% efficiency and complies with Open Compute Project (OCP) and Open Rack v3 (ORv3) specifications, marking a significant advancement in power supply technology [3] - The introduction of IntelliWeave, a patented digital control technique, enables peak efficiencies of 99.3% and reduces power losses by 30% compared to existing solutions [3] Industry Context - The exponential growth of AI computing power presents significant challenges for data center infrastructure, necessitating innovations in power supply technologies to enhance efficiency and power density [5] - Navitas' GaN and SiC solutions are positioned to break through conventional architectural limitations, facilitating more efficient and sustainable data center development [2][5] Upcoming Events - Navitas will host an "AI Tech Night" event in Taipei, Taiwan, on May 21, 2025, to discuss advancements in AI data center infrastructure and showcase its latest technologies [5][8]

Core Insights - Navitas Semiconductor has appointed Cristiano Amoruso to its board of directors, effective immediately, which is seen as a strategic move to enhance corporate governance and accelerate profitability [1][3] - Amoruso has a strong background in the technology and renewable energy sectors, having previously served as CEO of Suniva, Inc. and as a partner at Lion Point Capital, L.P. [2] - The company aims to leverage Amoruso's experience to capture significant market opportunities in the gallium nitride (GaN) and silicon carbide (SiC) sectors, particularly in power-intensive applications [3] Company Overview - Navitas Semiconductor is a pure-play, next-generation power semiconductor company, founded in 2014, specializing in GaN and SiC technologies [6] - The company offers GaNFast™ power ICs and GeneSiC™ power devices, focusing on markets such as data centers, electric vehicles, solar energy, and energy storage [6] - Navitas holds over 300 patents and was the first semiconductor company to achieve CarbonNeutral® certification [6]

Part I - Financial Information This section presents unaudited financial statements, management's analysis, market risks, and internal control procedures [Item 1. Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Presents Navitas Semiconductor's unaudited consolidated financial statements, including balance sheets, operations, equity, cash flows, and notes [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Presents Navitas Semiconductor's condensed consolidated balance sheets for March 31, 2025, and December 31, 2024 | (In thousands) | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **ASSETS** | | | | Cash and cash equivalents | $75,132 | $86,737 | | Total current assets | $108,300 | $120,266 | | Total assets | $370,830 | $389,978 | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | Total current liabilities | $19,309 | $21,144 | | Total liabilities | $29,010 | $41,965 | | Total stockholders' equity | $341,820 | $348,013 | | Total liabilities and stockholders' equity | $370,830 | $389,978 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Details Navitas Semiconductor's condensed consolidated statements of operations for Q1 2025 and Q1 2024 | (In thousands, except per share amounts) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | NET REVENUES | $14,018 | $23,175 | | COST OF REVENUES | $8,711 | $13,660 | | Research and development | $12,668 | $20,229 | | Selling, general and administrative | $11,740 | $16,087 | | Amortization of intangible assets | $4,734 | $4,774 | | Restructuring expense | $1,469 | $— | | Total operating expenses | $30,611 | $41,090 | | LOSS FROM OPERATIONS | $(25,304) | $(31,575) | | Total other income, net | $8,837 | $27,964 | | LOSS BEFORE INCOME TAXES | $(16,467) | $(3,611) | | INCOME TAX PROVISION | $82 | $70 | | Equity method investment loss | $(280) | $— | | NET LOSS | $(16,829) | $(3,681) | | Basic net loss per share attributable to common stockholders | $(0.09) | $(0.02) | | Diluted net loss per share attributable to common stockholders | $(0.09) | $(0.02) | [Condensed Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Presents Navitas Semiconductor's condensed consolidated statements of stockholders' equity for March 31, 2025 and 2024 | (In thousands, except shares) | Shares (March 31, 2025) | Total Stockholders' Equity (March 31, 2025) | Shares (March 31, 2024) | Total Stockholders' Equity (March 31, 2024) | | :--- | :--- | :--- | :--- | :--- | | Balance at December 31, 2024/2023 | 188,114 | $348,013 | 179,196 | $380,617 | | Issuance of common stock under employee stock option and stock award plans | 3,649 | $3,979 | 3,801 | $10,734 | | Costs for the issuance of common stock/At-the-market offering | — | $(346) | — | — | | Stock-based compensation expense | — | $7,003 | — | $10,247 | | Net loss | — | $(16,829) | — | $(3,681) | | Balance at March 31, 2025/2024 | 191,763 | $341,820 | 182,997 | $397,917 | [Condensed Consolidated Statements of Cash Flow](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flow) Presents Navitas Semiconductor's condensed consolidated statements of cash flow for Q1 2025 and Q1 2024 | (In thousands) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(13,533) | $(19,783) | | Net cash used in investing activities | $(41) | $(5,398) | | Net cash provided by financing activities | $949 | $2,024 | | NET INCREASE (DECREASE) IN CASH | $(12,625) | $(23,157) | | CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD | $75,615 | $129,682 | [Condensed Notes to Consolidated Financial Statements](index=7&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) Provides detailed notes to Navitas Semiconductor's condensed consolidated financial statements, explaining key accounting policies [1. ORGANIZATION AND BASIS OF PRESENTATION](index=7&type=section&id=1.%20ORGANIZATION%20AND%20BASIS%20OF%20PRESENTATION) Describes Navitas Semiconductor's business, fabless model, global operations, and recent At-The-Market Offering Agreement - Navitas Semiconductor Corporation designs, develops, and markets next-generation power semiconductors, including gallium nitride (GaN) power integrated circuits (ICs), silicon carbide (SiC) devices, and associated high-speed silicon system controllers and digital isolators, used in fast chargers, consumer electronics, data centers, solar products, and electric vehicles[24](index=24&type=chunk) - The Company operates a fabless business model, contracting manufacturing to partner suppliers globally, with operations across the US, Europe, and Asia[24](index=24&type=chunk) - On March 19, 2025, Navitas entered into an At-The-Market Offering Agreement with Jefferies LLC to sell up to **$50.0 million** of Class A common stock, with no shares sold as of March 31, 2025[26](index=26&type=chunk) [2. SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS](index=8&type=section&id=2.%20SIGNIFICANT%20ACCOUNTING%20POLICIES%20AND%20RECENT%20ACCOUNTING%20PRONOUNCEMENTS) Outlines Navitas Semiconductor's significant accounting policies and recent accounting pronouncements - The Company reclassified 'Dividend income' from 'interest income (expense), net' in prior period statements to conform to the current presentation, with no impact on net loss or retained earnings[30](index=30&type=chunk) - New accounting standards, ASU No. 2024-03 (expense disaggregation) and ASU 2023-09 (income tax disclosures), are being evaluated by the Company for future impact[31](index=31&type=chunk)[32](index=32&type=chunk) - Navitas adopted ASC 2023-07, Segment Reporting, in 2024, requiring disclosure of segment profit/loss measures and significant segment expenses, as detailed in Note 14[33](index=33&type=chunk) [3. ACCOUNTS RECEIVABLE](index=8&type=section&id=3.%20ACCOUNTS%20RECEIVABLE) Details Navitas Semiconductor's accounts receivable, including gross amounts, unbilled receivables, and credit loss allowance | (In thousands) | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Accounts receivable, gross | $11,970 | $12,578 | | Unbilled receivables | $938 | $1,539 | | Allowance for credit losses | $(481) | $(135) | | Accounts receivable, net | $12,427 | $13,982 | | (In thousands) | Allowance for Credit Losses | | :--- | :--- | | Balance at December 31, 2024 | $(135) | | Provision for credit losses | $(346) | | Accounts written-off | $— | | Balance at March 31, 2025 | $(481) | [4. INVENTORIES](index=9&type=section&id=4.%20INVENTORIES) Presents Navitas Semiconductor's inventory breakdown, including raw materials, work-in-process, and finished goods | (In thousands) | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Raw materials | $2,545 | $2,422 | | Work-in-process | $12,979 | $10,465 | | Finished goods | $538 | $2,590 | | Total | $16,062 | $15,477 | [5. PROPERTY AND EQUIPMENT, NET](index=9&type=section&id=5.%20PROPERTY%20AND%20EQUIPMENT,%20NET) Details Navitas Semiconductor's property and equipment, net, and associated depreciation expense | (In thousands) | March 31, 2

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 $0.06 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 $0.06 per share when it actually produced a loss of $0.06, delivering no surprise.Over the last four quarters, the company has not been able to surpass consensus EPS estimates.Navitas Semiconductor, which ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $14 million, in line with guidance, with a gross margin of 38% [6][16] - Gross margin decreased sequentially from 40.2% in Q4 2024 to 38.1% in Q1 2025 due to a less favorable market mix [17] - Operating expenses were reduced to $17.2 million, ahead of scheduled cost reductions, with a loss from operations improving to $11.8 million from $12.7 million in the previous quarter [18][19] - Cash and cash equivalents at the end of the quarter were $75 million, with no debt [19] Business Line Data and Key Metrics Changes - The decline in revenue was primarily attributed to lower revenues in the EV and solar markets [16] - The company announced significant design wins in various sectors, including AI data centers, solar microinverters, and EV onboard chargers, which are expected to ramp up in 2026 [9][11][14] Market Data and Key Metrics Changes - The EV market has seen some slowdown, but the company is excited about the adoption of silicon carbide technology with commercial EV customers [11] - The data center market is experiencing increased power demands, with the company launching a new 12-kilowatt design, an industry first [12][47] - The company anticipates growth in the second half of the year, driven by strong design wins across AI data centers, solar, EV, and mobile sectors [22][23] Company Strategy and Development Direction - The company is focusing on converting design wins into production orders, with a target of $450 million in design wins expected to generate revenue over the next few years [26] - The introduction of bidirectional GaN technology is seen as a game changer, enabling new applications in solar microinverters and EV onboard chargers [9][58] - The company is enhancing governance by separating the Chair and CEO roles and making executive changes to support growth and profitability [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged near-term headwinds due to channel inventory corrections in the EV, solar, and industrial markets but remains optimistic about recovery in 2026 [6][23] - The company is monitoring tariff impacts, particularly concerning silicon carbide products sold in China, but expects limited direct impact on GaN products [19][40] - Management expressed confidence in resuming growth later in the year, supported by significant design wins and technology advancements [22][23] Other Important Information - The company has achieved a 100 parts per billion failure rate in reliability, far exceeding industry standards [10] - A new reliability standard, AEC plus, is expected to be announced, which exceeds automotive AEC standards [10] Q&A Session Summary Question: Visibility into the second half and design wins - Management indicated that the $450 million in design wins is expected to convert into production orders, with revenue expected to ramp up significantly in 2026 [25][26] Question: Profitability and operating expenses - Management confirmed that operating expenses are expected to remain at $15.5 million, with a target to reach EBITDA breakeven in the high $30 million range by 2026 [28][29] Question: Breakdown of design wins between silicon carbide and GaN - Management stated that the design wins are well balanced between silicon carbide and GaN, with a strong pipeline across various applications [33][34] Question: Exposure to China and tariff impacts - Management noted that the company has a strong China for China strategy and does not see immediate tariff impacts, but is monitoring the situation closely [40][41] Question: Traction in the data center vertical - Management highlighted significant progress in data center designs, with the introduction of higher power levels being crucial for future growth [47][50] Question: Solar market ramp expectations - Management expects solar microinverters to ramp in the second half of the year, with significant growth anticipated next year [58][60] Question: Dollar growth contributions from various markets - Management indicated that while all markets are contributing, mobile, EV, and AI data centers are expected to be the biggest drivers of growth [62][64] Question: At-the-market offering status - Management confirmed that the ATM offering has not been executed yet and is available for strategic purposes [69][70] Question: Revenue potential for bidirectional GaN - Management estimated the revenue potential for bidirectional GaN to be north of $10 million for the next year [71][72] Question: Inventory levels and market normalization - Management noted that while inventory levels are declining, they are not yet at a healthy state, with expectations for normalization in the coming quarters [82][83]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $14 million, in line with guidance, with a gross margin of 38% [6][16] - Gross margin decreased sequentially from 40.2% in Q4 2024 to 38.1% in Q1 2025 due to a less favorable market mix [17] - Operating expenses were reduced to $17.2 million, ahead of scheduled cost reductions, with a loss from operations improving sequentially to $11.8 million from $12.7 million [18][19] Business Line Data and Key Metrics Changes - The company announced the first production release of a bidirectional GaN IC, which is expected to enable significant improvements in power electronics [6][7] - GaN Safe technology has been automotive qualified and is being adopted in EV onboard charger designs, with production expected in early 2026 [8][9] - The commercial EV market is seeing significant adoption of silicon carbide technology, with two major wins expected to impact revenue in 2026 [11] Market Data and Key Metrics Changes - The EV and solar markets experienced lower revenues, contributing to the overall revenue decline compared to the previous year [16] - The company anticipates growth to resume in the second half of the year, driven by design wins across AI data centers, solar, EV, and mobile sectors [19][24] - The company has a strong pipeline of design wins totaling $450 million, with expectations for revenue to ramp up significantly in 2026 [28][64] Company Strategy and Development Direction - The company is focusing on converting design wins into production orders, with a strong outlook for growth in 2026 [28] - Strategic governance changes were made, including the separation of the Chair and CEO roles to enhance governance and support growth [13] - The company is exploring options to expand its foundry base to mitigate potential tariff impacts [43] Management's Comments on Operating Environment and Future Outlook - Management acknowledged near-term headwinds due to inventory corrections in the EV, solar, and industrial markets but expressed optimism for recovery in 2026 [6][24] - The company is monitoring tariff impacts, particularly concerning silicon carbide products sold in China, but expects limited direct impact on GaN products [19][22] - Management emphasized the importance of design wins and technology advancements in driving future growth [24][64] Other Important Information - The company maintains a strong balance sheet with $75 million in cash and no debt, providing a solid runway for future operations [19][71] - The company is committed to maintaining a balanced investment in R&D and SG&A, with expectations for a 55% R&D to 45% SG&A split moving forward [35] Q&A Session Summary Question: Visibility into the second half and design wins - Management indicated that the $450 million in design wins is expected to convert into production orders, with revenue anticipated to ramp up significantly in 2026 [28] Question: Profitability and operating expenses - Management confirmed plans to maintain operating expenses at $15.5 million and expects to reach EBITDA breakeven in the high $30 million range in 2026 [29] Question: Breakdown of design wins between silicon carbide and GaN - Management noted a balanced pipeline between silicon carbide and GaN, with both technologies being utilized in various applications [33] Question: Exposure to China and tariff impacts - Management clarified that GaN products are less exposed to tariffs, while silicon carbide products have a majority of their revenue coming from China [38][39] Question: Traction in the data center vertical - Management highlighted significant progress in data center designs, with new power levels being introduced, indicating strong future growth potential [46] Question: Solar market ramp-up - Management expects solar microinverters to ramp in the second half of the year, with significant growth anticipated next year [56][60] Question: Customer outlook for the smartphone market - Management noted stable growth in the mobile sector, with increasing adoption of GaN technology among major smartphone manufacturers [90]

Exhibit 99.1 1Q25 Financial Highlights Market, Customer and Technology Highlights: Business Outlook • Second quarter 2025 net revenues are expected to be $14.0 to $15.0 million. Non-GAAP gross margin for the second quarter is expected to be 38.5% plus or minus 50 basis points, and non-GAAP operating expenses are expected to be approximately $15.5 million in the second quarter of 2025. • GaN expected production ramp in new mainstream markets in AI data centers, solar micro- inverters and EV over next 12 mont ...

Core Insights - Navitas Semiconductor reported its unaudited financial results for Q1 2025, highlighting significant technological advancements and a strategic position for future growth [1][2]. Financial Highlights - Total revenue for Q1 2025 was $14.0 million, a decrease from $23.2 million in Q1 2024 and $18.0 million in Q4 2024 [8]. - GAAP loss from operations was $25.3 million, improved from a loss of $31.6 million in Q1 2024 and $39.0 million in Q4 2024 [8]. - Cash and cash equivalents stood at $75.1 million as of March 31, 2025 [8]. Market, Customer, and Technology Highlights - The company achieved several industry firsts, including the production release of GaN bi-directional ICs and a 12 kW AI data center power supply platform [2]. - Cumulative GaN shipments exceeded 250 million since 2018, demonstrating a reliability track record of 100 parts per billion (ppb) [7]. - GeneSiC technology has shown reliability exceeding automotive standards, with ultra-high voltage capabilities ranging from 2.3 kV to 6.5 kV, targeting commercial EVs and new energy markets [7]. Business Outlook - For Q2 2025, net revenues are projected to be between $14.0 million and $15.0 million, with a non-GAAP gross margin expected at approximately 38.5% [5]. - Non-GAAP operating expenses for Q2 2025 are anticipated to be around $15.5 million [5].