Joint lab collaboration expected to accelerate GaN & SiC adoption in AI data centers, EV, solar and energy storage systems (ESS) Navitas & GigaDevice Announce Partnership to Combine Power & Control for Next-Gen, High-Frequency, High-Efficiency, & High-Density Power Platforms Joint lab collaboration expected to accelerate GaN & SiC adoption in AI data centers, EV, solar and energy storage systems (ESS) TORRANCE, Calif., April 09, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the only pure ...

Core Viewpoint - Navitas Semiconductor has formed a strategic partnership with GigaDevice to establish a joint lab aimed at integrating Navitas' GaNFast™ ICs with GigaDevice's microcontrollers, targeting applications in AI data centers, electric vehicles (EVs), solar energy, and energy-saving systems [1][2][9] Group 1: Partnership and Collaboration - The joint R&D laboratory will leverage both companies' expertise to innovate in intelligent and efficient power management solutions, enhancing the integration and performance of high-power-density digital power solutions [3][9] - This collaboration is expected to accelerate the adoption of GaN and SiC technologies in higher-power markets, optimizing microcontrollers to maximize fast switching characteristics [2][3] Group 2: Company Profiles - GigaDevice is a leader in China's high-performance general-purpose MCU market, with over 2 billion cumulative shipments across various sectors, including power systems and automotive electronics [4] - Navitas is recognized for its GaNFast™ power ICs, which provide three times more power and three times faster charging in half the size and weight compared to traditional silicon power devices [5][12] Group 3: Market Applications and Innovations - Navitas' technology is prominent in growth markets such as mobile and AI data centers, supplying major OEMs and achieving significant milestones in power density and efficiency [6][10] - The partnership aligns with Navitas' strategy to create an ecosystem for next-generation clean-energy solutions, including high-speed isolated drivers and integrated solutions for power electronics [7][10]

TORRANCE, Calif., April 09, 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 new strategic partnership with GigaDevice, a world-leader in microcontrollers (MCUs) and flash memory, to create a joint-lab for integrating and tailoring Navitas' GaNFast™ ICs & GigaDevice's Microcontrollers, targeting AI data centers, EVs, Solar, ...

Navitas Semiconductor’s (NVTS) GaNSense power ICs are being used in China-based switching power supplies solution provider Greatwall Power’s latest 2.5kW ultra-high power density DC-DC converter for AI data centers.Navitas’ NV6169 GaN solution delivers 50% more power than previous versions to GreatWall’s latest DC-DC converter. This integration supports applications that demand high efficiency and power density, ensuring optimal performance, even in the most demanding environments. This innovation not only ...

TORRANCE, Calif., April 03, 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 its GaNSense power ICs will power GreatWall's latest 2.5kW ultra-high power density DC-DC converter for AI data centers. The rapid development of AI has imposed higher requirements for computing power on data centers. To accommodate more GPUs for comp ...

Core Insights - Navitas Semiconductor has introduced high-power GaNSafe and Gen 3 'Fast' SiC MOSFETs that enhance energy efficiency in AI data center power supply units (PSUs), achieving efficiencies between 96.5% and 98% [1][6] - The new Ruby certification for PSUs, announced in January 2025, sets a higher efficiency benchmark, requiring an additional 1% efficiency across all load conditions compared to previous standards [3][4] - The advancements in GaN and SiC technology by Navitas are positioned to significantly reduce carbon footprints and operational costs in the data center industry, with potential savings of 10 TWh of energy for every percentage point improvement in efficiency [7] Company Overview - Navitas Semiconductor is a leader in next-generation power semiconductors, focusing on GaN and SiC technologies, and has been operational since 2014 [8] - The company has developed a range of products, including the world's first 8.5 kW AI data center power supply, which meets 98% efficiency and complies with Open Compute Project specifications [6] - Navitas holds over 300 patents and is recognized for its commitment to sustainability, being the first semiconductor company to achieve CarbonNeutral certification [8]

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Financial Performance - Net revenues for the year ended December 31, 2024, were $83.3 million, an increase of $3.8 million or 5% compared to $79.5 million in 2023, primarily driven by growth in mobile markets[198]. - The net loss for 2024 was $84.6 million, a decrease of $61.4 million or 42% compared to a net loss of $145.9 million in 2023[197]. - The company reported a basic net loss per share of $0.46 for 2024, compared to $0.86 for 2023[255]. - The company recognized a net gain of $3.9 million from its equity method investment for the year ended December 31, 2024[181]. - Operating loss for 2024 was $130.7 million, compared to a loss of $118.1 million in 2023, reflecting an increase in operating expenses[328]. Research and Development - Research and development expenses for 2024 were $76.0 million, up $7.2 million or 10% from 2023, driven by increased product development related to EV, enterprise, and solar[200]. - Research and development expenses included significant costs related to product design and development, contributing to total operating expenses of $159.0 million in 2024, up from $149.2 million in 2023[328]. - Navitas Semiconductor Corporation reported that research and development expenses represented approximately 91% and 87% of revenue for the years ended December 31, 2024 and 2023, respectively[180]. Acquisitions and Investments - Navitas acquired GeneSiC Semiconductor for a total consideration of $244.0 million, including $146.3 million in equity and $97.1 million in cash[185]. - The company announced the acquisition of the remaining minority interest in its silicon control IC joint venture for approximately $22.4 million in Navitas stock[184]. - The total merger consideration for GeneSiC included potential future earn-out payments of up to $25.0 million in cash[185]. - The company completed a public offering of 10,000,000 shares at a price of $8.00 per share, raising net proceeds of $86.5 million for working capital and potential acquisitions[182][183]. Cash Flow and Liquidity - As of December 31, 2024, cash and cash equivalents were $86.7 million, a decrease of $65.2 million or 43% compared to the previous year[213]. - Net cash used in operating activities for 2024 was $58.8 million, reflecting a net loss adjusted for non-cash items[214]. - Cash, cash equivalents, and restricted cash at the end of 2024 totaled $88,240 thousand, down from $152,839 thousand at the end of 2023[261]. - The company expects to continue incurring net operating losses and negative cash flows from operations in the near term[209]. Inventory and Assets - The company's inventory balance was $15.5 million as of December 31, 2024, down from $22.2 million in 2023, indicating a decrease of approximately 30%[247]. - Total current assets decreased to $120.3 million in 2024 from $206.2 million in 2023, reflecting a decline of about 41.6%[252]. - The company's total assets decreased to $390.0 million in 2024 from $485.5 million in 2023, representing a reduction of approximately 19.6%[252]. - Accounts receivable decreased to $14.0 million in 2024 from $25.9 million in 2023, indicating a reduction in trade receivables[329]. - Total inventories decreased to $15.5 million in 2024 from $22.2 million in 2023, reflecting a reduction in raw materials and finished goods[334]. Liabilities and Equity - The company's total liabilities decreased from $104.9 million in 2023 to $42.0 million in 2024, a reduction of approximately 60%[252]. - The accumulated deficit increased from $300.2 million in 2023 to $384.8 million in 2024, indicating a worsening of approximately 28%[252]. - The additional paid-in capital increased from $680.8 million in 2023 to $732.8 million in 2024, reflecting an increase of about 7.6%[252]. Stock-Based Compensation - Stock-based compensation expense totaled $43,031,000 for the fiscal year ended December 31, 2024, down from $54,028,000 in 2023[359]. - The Company recognized $34.0 million and $31.5 million of stock-based compensation expense for RSUs in the years ended December 31, 2024 and 2023, respectively[369]. - The number of stock options outstanding decreased from 2,657,000 at December 31, 2023, to 1,499,000 at December 31, 2024, with a weighted-average exercise price of $0.74[362]. Operational Highlights - The company has entered mass production of GaN power ICs, utilized by 9 out of the top 10 global mobile OEMs, with all 10 currently in progress[179]. - Navitas has formed relationships with numerous Tier 1 manufacturers, gaining significant traction in mobile and consumer charging applications[179]. - The company operates as one reportable segment focused on the design, development, manufacture, and marketing of integrated circuits for next-generation power semiconductors[273].

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 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 80 PLUS ‘Ruby' certification, focused on the highest level of efficiency for redundant server data center PSUs. The 80 PLUS certification pro ...