Core Insights - Navitas Semiconductor is a leading company in the next-generation power semiconductor industry, focusing on gallium nitride (GaN) power ICs and silicon carbide (SiC) technology [1][4] - The company is celebrating its 10th anniversary, having been founded in 2014, and has over 300 patents issued or pending [4] - Navitas is the first semiconductor company to achieve CarbonNeutral® certification [4] Upcoming Investor Conferences - MESH Ventures Investor Call is scheduled for December 2, 2024, featuring CEO Gene Sheridan and CFO Todd Glickman [2] - Needham 27th Annual Growth Conference will take place on January 14-15, 2025, with opportunities for 1-on-1 meetings and a fireside chat on January 15 [3]

TORRANCE, Calif., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS) has announced that the company’s revenue growth has been acknowledged for the third consecutive year, by Deloitte’s Technology Fast 500™. Navitas growth was driven by strong demand for its advanced, high-efficiency, wide-bandgap gallium nitride (GaN) and silicon carbide (SiC) power components, across a growing number of global markets and customers. Now in its 30th year, the Deloitte Technology Fast 500 provides a rank ...

Navitas Semiconductor (NVTS) shares have plunged 77.9% year to date (YTD), underperforming the broader Zacks Computer and Technology sector’s return of 25.7%.Over the same time frame, it has also underperformed the Zacks Electronics- Semiconductors industry and its competitors like Broadcom (AVGO) , Astera Labs (ALAB) and Cirrus Logic (CRUS) . On a YTD basis, shares of AVGO, ALAB and CRUS have returned 47.7%, 39.4% and 21.1%, respectively. The industry appreciated 32.1% in the same time frame.This underperf ...

TORRANCE, Calif., Nov. 14, 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,  today announced participation in the upcoming Roth conference in New York.  13th Annual Roth Technology ConferenceNovember 19th & 20th 20251-on-1 meetings with Todd Glickman, CFO, and Stephen Oliver, VP Investor Relations.Hard Rock Hotel New York – 159 W 48th St, ...

Navitas Semiconductor Corporation (NVTS) has been on a downward spiral lately with significant selling pressure. After declining 25.1% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spot ...

LAFOX, Ill. and TORRANCE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (Nasdaq: RELL) and Navitas Semiconductor (Nasdaq: NVTS) announced today an expanded distribution partnership for next-gen silicon carbide (SiC) power semiconductors for Europe, the Middle East, and Africa (EMEA). Navitas is the only pure-play, next-generation power-semiconductor company and industry leader in next-generation GeneSiC™ silicon carbide (SiC) and GaNFast™ gallium nitride (GaN) power semiconductors. ...

TORRANCE, Calif., Nov. 05, 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 the world’s first 8.5 kW power supply unit (PSU), powered by GaN and SiC technologies to achieve 98% efficiency, for next-generation AI and hyperscale data centers. The AI-optimized 54V output PSU complies with Open Compute Project (OCP) and Open Rack ...

Financial Data and Key Metrics - Q3 2024 revenue was $21.7 million, flat YoY but a 6% sequential increase [9][30] - Gross margin for Q3 2024 was 40.1%, down from 42.1% in Q3 2023 due to strong mobile market mix [31] - Operating expenses for Q3 2024 were $21.4 million, with SG&A at $9.9 million and R&D at $11.6 million [32] - Q3 2024 operating loss was $12.7 million [32] - Cash and cash equivalents at quarter-end were $99 million with no debt [33] - Q4 2024 revenue guidance is $18-20 million, with gross margin expected to be around 40% [34][35] Business Line Performance - Mobile business hit an all-time record in Q3 2024, with 26 new design wins, including 3 Tier-1 OEM wins [21] - AI and enterprise data centers saw a new 8.5 kW AI power supply design, with data center revenue starting in Q3 and expected to ramp through 2025 [16][17] - EV segment secured 6 new design wins in Q3, including onboard and roadside chargers, with over 200 active projects [19][20] - Appliance and industrial pipeline added 30 new design wins in Q3, ranging from vacuum cleaners to multi-kilowatt power supplies [22] - Solar and energy segment added 10 new design wins, including a multimillion-dollar win with Generac [22] Market Performance - AI data centers are a key focus, with new low-voltage GaN technology complementing existing high-voltage GaN solutions [17][18] - EV market continues to grow, with new low-voltage GaN technology expected to fit well with 48V battery EV applications [20] - Mobile and consumer market remains strong, with GaNSlim ICs driving design wins and expected multimillion-dollar revenue ramps in Q2 2025 [21] - Solar microinverters are on track for a significant ramp in mid-2025, with new low-voltage GaN providing additional opportunities [23] Strategic Direction and Industry Competition - Company announced a new low-voltage GaN technology optimized for 48V systems, creating a $1 billion market opportunity [12] - Strategic partnership with Infineon to create common GaN specifications, providing dual sourcing options for customers [13] - Focus on AI data centers, mobile, and EV markets, with technologies developed for these markets expected to cross-sell into industrial, appliance, and solar markets [25][26] - Streamlining operations with a 14% headcount reduction and $2 million quarterly OpEx savings, aiming for profitability [24][36] Management Commentary on Operating Environment and Future Outlook - Management noted softness in some end markets and customer project delays, leading to a muted outlook for the next few quarters [26] - Despite near-term challenges, the company expects solid growth to resume later in 2025, driven by a $1.6 billion customer pipeline and design win momentum [27] - New low-voltage GaN technology, Infineon partnership, and organizational efficiency improvements are expected to drive growth and profitability [27] Other Important Information - Company has over 300 patents granted or pending, strengthening its competitive advantage [15] - New low-voltage GaN technology will start sampling this quarter, with first customer designs expected to ramp in H2 2025 [19] - Company is focusing on working capital improvements, with inventory reduced to $21 million from $25 million in the prior quarter [33][34] Q&A Session Summary Question: Dual sourcing agreement with Infineon and IP licensing - The agreement includes a broad-based cross-license, allowing both companies to collaborate without patent conflicts [39] - Dual sourcing is driven by customer demand for supply chain risk reduction and faster adoption of GaN technology [39][40] Question: Gross margin guidance and market mix - Flat gross margin guidance for Q4 is due to strong mobile market performance offsetting muted growth in higher power markets [44] Question: Automotive market trends - EV market is showing signs of recovery, with increased design wins in onboard and roadside chargers [45][46] Question: Silicon carbide market and channel inventory - Channel inventory for silicon carbide is decreasing, with growth expected to resume in 2025 [48] - High-voltage GaN could eventually displace silicon carbide, but cost-effectiveness and reliability remain key factors [49] Question: Restructuring and market focus - Restructuring includes a 14% headcount reduction and $2 million quarterly savings, with a focus on AI data centers, mobile, and EV markets [51] - Technologies developed for these markets will also benefit adjacent markets like industrial, solar, and energy storage [51] Question: Pricing and competition - Market softness has led to more aggressive pricing, but the company has improved cost structures to maintain competitiveness [52] Question: Low-voltage GaN in data centers - GaN is making inroads in 48V data center applications, with potential to push efficiency and frequency beyond traditional silicon levels [54] Question: Liquid cooling in data centers - Liquid cooling is seen as necessary to support higher power levels in AI processors, driving demand for efficient power semiconductors [56] Question: Infineon partnership and revenue expectations - The partnership focuses on low-voltage GaN for AI data centers, with sampling starting this quarter and production ramps expected in late 2025 [70] Question: Solar market focus - While solar remains a niche market, the company sees opportunities in solar microinverters with bidirectional GaN technology [67][68] Question: Smartphone market trends - The company is seeing growth in entry-level smartphones with higher charging power, particularly in emerging markets [64]

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 ...

Core Insights - Navitas Semiconductor reported record sales in the mobile fast-charger market and introduced a new low-voltage GaN platform for 48V AI data centers, electric vehicles (EV), and robotics applications [2][4] - The company has formed a strategic dual-sourcing partnership with Infineon Technologies to enhance customer confidence and accelerate the adoption of GaN technology [2][4] - A cost-reduction plan is expected to save $2 million per quarter, including a 14% reduction in headcount, to streamline operations and focus on key markets [2][4] Financial Performance - Total revenue for Q3 2024 was $21.7 million, a slight decrease from $22.0 million in Q3 2023 and an increase from $20.5 million in Q2 2024 [3][14] - GAAP loss from operations was $29.0 million, compared to a loss of $28.6 million in Q3 2023 and a loss of $31.1 million in Q2 2024 [3][14] - Cash and cash equivalents stood at $98.6 million as of September 30, 2024 [3][18] Market and Technology Developments - The new low-voltage GaN platform (80-200V) is optimized for 48V systems in AI data centers, EVs, and motor drives, with sampling expected in Q4 2024 [4] - A new 98%-efficient, 8.5 kW AI power supply reference design has been launched, featuring high-voltage GaN and SiC architecture [4] - The company has secured over 60 active customer projects in the data center segment, with production revenues starting in Q3 2024 [4] Business Outlook - For Q4 2024, net revenues are projected to be between $18.0 million and $20.0 million, with a non-GAAP gross margin expected to be around 40% [5]