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].

Core Insights - Navitas Semiconductor introduces a new level of reliability in power semiconductor technology, specifically targeting automotive and industrial applications with its latest generation of SiC MOSFETs [1][3][4] Group 1: Product Features - The new HV-T2Pak SiC MOSFETs provide significant improvements in system-level power density and efficiency, enhancing thermal management and simplifying design and manufacturability [2] - The SiC MOSFETs feature an industry-leading creepage distance of 6.45 mm, meeting IEC compliance for applications up to 1200V [1][4] - The initial portfolio includes 1200 V SiC MOSFETs with on-resistance ratings from 18 mΩ to 135 mΩ and 650 V SiC MOSFETs with ratings from 20 mΩ to 55 mΩ, with plans to release lower on-resistance options later in 2025 [8] Group 2: Qualification Standards - Navitas has established an 'AEC-Plus' qualification standard, exceeding the existing AEC-Q101 and JEDEC standards, demonstrating a commitment to high reliability in automotive and industrial applications [3][4] - The 'AEC-Plus' standards include rigorous multi-lot testing and additional requirements for thermal management and reliability [4][11] Group 3: Technological Advancements - The GeneSiC™ technology offers up to 20% lower on-resistance at high temperatures compared to competitors, resulting in lower power losses across a wider operating range [7] - The exposed thermal pad in the HV-T2Pak package features nickel plating, enhancing thermal efficiency and reliability compared to traditional tin plating [5]

Core Insights - Navitas Semiconductor has introduced a new family of GaNSense™ Motor Drive ICs designed for home appliances and industrial drives up to 600 W, featuring significant efficiency and cost advantages [1][5]. Product Features - The GaNSense Motor Drive ICs integrate two GaN FETs in a half-bridge configuration, providing a 4% increase in efficiency, a 40% reduction in PCB footprint, and a 15% decrease in system cost compared to traditional silicon IGBT solutions [2][12]. - Key features include bidirectional lossless current sensing, which enhances efficiency and reliability by eliminating the need for external shunt resistors [3][4]. - The devices offer adjustable turn-on and turn-off slew rates to optimize EMI and performance, along with an autonomous freewheeling function to minimize conduction losses [4]. Target Applications - The GaNSense Motor Drive ICs are aimed at various applications, including air conditioners, heat pumps, washing machines, dryers, dishwashers, refrigerators, and hair dryers, as well as low-power industrial drives such as pumps and fans [5]. Company Background - Navitas Semiconductor, founded in 2014, is a leader in next-generation power semiconductors, focusing on GaN and SiC technologies, with over 300 patents and a commitment to sustainability as the first CarbonNeutral®-certified semiconductor company [7].

Market Reaction - Semiconductor stocks experienced significant declines, with Wolfspeed dropping 14.6%, NXP Semiconductors down 6.6%, and Rambus falling 4.7% [1] - Other notable declines include ON Semiconductor at 2.4%, Supermicro at 2.3%, and Micron Technology at 1.67% [1] Government Policy Impact - The Trump administration is reportedly working on modifying a rule from the Biden era that restricts most countries from accessing U.S.-designed AI chips [1] - The proposed changes may involve replacing the current tiered system with intergovernmental agreements [1]