Revenue and Sales Performance - Revenue for Q1 2023 was $13.4 million, a 98% increase from $6.7 million in Q1 2022, driven by customer growth and the acquisition of GeneSiC[183]. - Total sales volumes increased by 19%, from 7.5 million to 8.9 million units shipped, with the average selling price rising by 78% to $1.46 per unit[183]. Costs and Expenses - Cost of revenues for Q1 2023 was $7.9 million, up 108% from $3.8 million in Q1 2022, primarily due to revenue growth and a 20% wafer price increase from TSMC[184]. - Research and development expenses increased by 31% to $17.4 million in Q1 2023, driven by higher compensation costs and expansion into new products[185]. - Selling, general and administrative expenses decreased by 22% to $19.1 million in Q1 2023, attributed to lower stock-based compensation and professional fees[186]. - Amortization of intangible assets surged by 5,013% to $4.5 million in Q1 2023, mainly due to business acquisitions[187]. Financial Results - Net interest income for Q1 2023 was $0.9 million, compared to immaterial net interest expense in Q1 2022, reflecting higher interest rates on money market funds[188]. - A loss of $27.8 million was recognized from the change in fair value of earn-out liabilities, linked to the increase in the closing price of Class A common stock[189]. - The income tax provision for Q1 2023 was $61, a significant increase from $3 in Q1 2022, with expectations of a near-zero tax rate in the short term[190]. Acquisitions and Investments - Navitas completed the acquisition of GeneSiC for a total consideration of $244 million, enhancing its capabilities in silicon carbide technology[172]. - Net cash used in investing activities for the three months ended March 31, 2023, was $1.8 million, primarily due to $1.0 million cash funding of a joint venture and $0.8 million for purchases of fixed assets[197]. Cash Flow and Liquidity - As of March 31, 2023, the company had cash and cash equivalents of $100.8 million, a decrease of $9.5 million or 9% compared to December 31, 2022[193][195]. - For the three months ended March 31, 2023, net cash used in operating activities was $7.9 million, reflecting a net loss of $62.4 million[196]. - Net cash provided by financing activities for the three months ended March 31, 2023, was $0.2 million, resulting from proceeds from stock option exercises[198]. - The company expects to incur net operating losses and negative cash flows from operations in the foreseeable future[192]. - If additional funds are required, the company may seek to raise funds through equity or debt financing, which could dilute existing equity holders[194]. - The company’s liquidity primarily derives from debt and equity financing activities[195]. - As of March 31, 2023, the company had no off-balance sheet arrangements[200]. Regulatory and Compliance - The company is classified as an emerging growth company under the JOBS Act, allowing it to delay the adoption of new accounting standards[204].

Financial Performance - Net revenues for the year ended December 31, 2022, were $37.9 million, an increase of 60% from $23.7 million in 2021, driven by the GeneSiC acquisition and increased unit sales in the home appliance market [341]. - The company reported a net income of $72.9 million for 2022, a significant turnaround from a net loss of $152.7 million in 2021, reflecting a change of $225.6 million [340]. - The company incurred a net loss of $72,887,000 in 2022, compared to a net loss of $152,685,000 in 2021, indicating an improvement in financial performance [399]. - The company’s basic net income per share attributable to common stockholders was $0.55 in 2022, compared to a loss of $3.90 in 2021 [399]. - The company reported net revenues of $37,943,000 for the year ended December 31, 2022, an increase of 60% compared to $23,736,000 in 2021 [399]. Expenses - Cost of revenues for 2022 was $26.0 million, a 99% increase from $13.1 million in 2021, primarily due to significant revenue growth and inventory charges of $2.8 million [342]. - Research and development expenses for 2022 totaled $50.3 million, an increase of 83% compared to $27.5 million in 2021, driven by higher stock-based compensation and increased headcount [344]. - Selling, general and administrative expenses for 2022 were $78.4 million, up 53% from $51.4 million in 2021, due to increased stock-based compensation and transaction expenses related to the GeneSiC acquisition [345]. - The company reported stock-based compensation expense of $63,288,000 in 2022, up from $41,404,000 in 2021 [407]. - Rent expense, including short-term lease costs, increased to $2.1 million in fiscal year 2022 from $1.3 million in 2021, representing a 61.5% increase [492]. Cash Flow and Assets - As of December 31, 2022, cash and cash equivalents totaled $110.3 million, a decrease of $157.9 million or 59% compared to the previous year [358]. - Net cash used in operating activities for the year ended December 31, 2022, was $44.5 million, reflecting a net income of $72.9 million adjusted for non-cash items [360]. - Net cash used in investing activities for the year ended December 31, 2022, was $107.6 million, primarily due to $96.4 million in business acquisitions [362]. - The company reported total stockholders' equity of $384,760,000 as of December 31, 2022, significantly up from $65,536,000 in 2021 [397]. - The company's total assets increased to $425,262,000 as of December 31, 2022, up from $295,601,000 in 2021, representing a growth of 43.8% [397]. Acquisitions and Investments - The acquisition of GeneSiC was valued at $246.2 million, including $146.3 million in equity and $99.3 million in cash [325]. - The company acquired VDDTech for $1.9 million and GeneSiC for $246.2 million in cash and stock in 2022 [420]. - Business acquisitions in 2022 included shares issued for transaction fees totaling $1,000,000 [408]. Intellectual Property and Market Position - The company has over 185 patents issued or pending, reinforcing its industry-leading IP position in GaN Power ICs [323]. - Navitas is in mass production with 9 of the top 10 mobile OEMs, indicating strong market traction and demand for its GaN technology [322]. Future Outlook - Navitas expects continued growth in research and development expenses as it diversifies into new applications, particularly in home appliances, solar, data centers, and electric vehicles [344]. - The company expects to continue incurring net operating losses and negative cash flows, with anticipated increases in research and development, general and administrative expenses, and capital expenditures [355]. Accounting and Financial Reporting - The company has elected to use an extended transition period under the JOBS Act for complying with new accounting standards, which may affect comparability with other public companies [385]. - The company accounts for business combinations using the acquisition method, recognizing identifiable assets and liabilities at fair value [438]. - The company recognizes stock-based compensation expense based on the grant date fair value of the awards [446]. Liabilities and Debt - As of December 31, 2022, the company had no outstanding debt, compared to $6.9 million of total debt at the end of 2021 [358]. - The total lease liabilities as of December 31, 2022 amounted to $6.568 million, with current liabilities of $1.305 million and noncurrent liabilities of $5.263 million [495].

Navitas Semiconductor Corporation (NASDAQ:NVTS) Q4 2022 Earnings Conference Call February 23, 2023 5:00 PM ET Company Participants Stephen Oliver – Vice President-Corporate Marketing and Investor Relations Gene Sheridan – Chairman, President, Chief Executive Officer and Co-Founder Ron Shelton – Chief Financial Officer and Treasurer Conference Call Participants Ross Seymore – Deutsche Bank Blake Friedman – Bank of America McClain Culver – Rosenblatt Securities Trevor Janoski – Needham Dick Gould – Gould Tact ...

Revenue and Sales Performance - Revenue for the three months ended September 30, 2022, was $10.2 million, an increase of 82% compared to $5.6 million in the same period of 2021[204] - Total sales volumes increased by 19%, from 6.0 million to 7.1 million units shipped, with the average selling price rising by 53% to $1.43 per unit[204] - Revenue for the nine months ended September 30, 2022 was $25.6 million, an increase of $9.2 million or 56% compared to $16.4 million for the same period in 2021[214] Costs and Expenses - Cost of goods sold for the three months ended September 30, 2022, was $9.9 million, a 225% increase from $3.0 million in the same period of 2021[205] - Cost of goods sold for the nine months ended September 30, 2022 was $18.7 million, an increase of $9.7 million or 108% compared to $9.0 million for the same period in 2021[215] - Research and development expenses for the three months ended September 30, 2022, were $13.3 million, reflecting a 130% increase compared to $5.8 million in the same period of 2021[207] - Research and development expenses for the nine months ended September 30, 2022 were $36.4 million, an increase of $20.0 million or 123% compared to $16.3 million for the same period in 2021[216] - Selling, general and administrative expenses for the nine months ended September 30, 2022 were $63.0 million, an increase of $39.3 million or 166% compared to $23.7 million for the same period in 2021[218] - Operating expenses totaled $37.8 million for the three months ended September 30, 2022, a 304% increase from $9.4 million in the same period of 2021[203] Net Loss and Financial Position - The company recorded a net loss of $32.8 million for the three months ended September 30, 2022, compared to a net loss of $6.8 million in the same period of 2021, representing a 380% increase in losses[203] - Loss from operations for the three months ended September 30, 2022, was $37.4 million, compared to a loss of $6.8 million in the same period of 2021, marking a 454% increase[203] - Net cash used in operating activities for the nine months ended September 30, 2022 was $35.5 million, compared to $24.8 million for the same period in 2021[232] - As of September 30, 2022, the company had cash and cash equivalents of $124.8 million, a decrease of $143.5 million or 53% compared to December 31, 2021[228] - The company expects to continue incurring net operating losses and negative cash flows from operations as it expands its operations and product offerings[225] Acquisitions and Inventory - The acquisition of GeneSiC contributed to revenue growth and included a $0.5 million step-up in inventory valuation and $2.8 million in inventory reserves[206] Future Expectations and Strategic Position - The company expects research and development expenses to continue increasing as it expands into new applications[207] - Navitas has over 165 patents issued or pending, reinforcing its industry-leading IP position in GaN Power ICs[186] Accounting and Reporting - Management's estimates and judgments in financial reporting are based on historical experience and current economic conditions, which may lead to actual results differing from estimates[239] - There have been no material changes to critical accounting policies and estimates, except for the adoption of ASC 805 Business Combinations[241] - The company has elected to use an extended transition period under the JOBS Act for complying with new accounting standards, which may affect comparability with other public companies[243] Cash Flow and Financing Activities - Net cash used in investing activities for the nine months ended September 30, 2022 was $106.4 million, primarily due to $99.9 million in business acquisitions[234] - Net cash used in financing activities for the nine months ended September 30, 2022 was $1.5 million, primarily due to debt payments and stock repurchases[235] Contractual Obligations - No significant changes to contractual obligations were reported, except for a new operating lease entered into during the quarter[237] - As of September 30, 2022, there were no off-balance sheet arrangements[238]

Navitas Semiconductor Corporation (NASDAQ:NVTS) Q3 2022 Earnings Conference Call November 9, 2022 5:00 PM ET Company Participants Stephen Oliver - Vice President of Corporate Marketing and Investor Relations Gene Sheridan - Chairman, President, CEO and Co-Founder Ron Shelton - CFO and Treasurer Conference Call Participants Kevin Cassidy - Rosenblatt Securities Ross Seymore - Deutsche Bank Blake Friedman - Bank of America Jon Tanwanteng - CJS Securities Trevor Janoski - Needham Tristan Gerra - Baird Operator ...

Navitas Semiconductor Corporation (NASDAQ:NVTS) Q2 2022 Earnings Conference Call August 15, 2022 5:00 PM ET Company Participants Stephen Oliver - Vice President of Corporate Marketing and Investor Relations Gene Sheridan - Chairman, President, CEO and Co-Founder Ron Shelton - CFO and Treasurer Conference Call Participants Kevin Cassidy - Rosenblatt Securities Tristan Gerra - Baird Blake Friedman - Bank of America Ross Seymore - Deutsche Bank Sam Peterman - Craig Hallum Jon Tanwanteng - CJS Mark Lipacis - Je ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission file number: 001-39755 Navitas Semiconductor Corporation (Exact name of registrant as specified in its charter) Delaware 85-2560226 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number: 001-39755 Navitas Semiconductor Corporation (Exact name of registrant as specified in its charter) Delaware 85-256022 ...

Navitas Semiconductor Corp (NASDAQ:NVTS) Q1 2022 Earnings Conference Call May 12, 2022 5:00 PM ET Company Participants Stephen Oliver – Vice President-Corporate Marketing and Investor Relations Gene Sheridan – Chairman, President and Chief Executive Officer Todd Glickman – Chief Financial Officer Conference Call Participants Kevin Cassidy – Rosenblatt Securities Trevor Janowski – Needham Jon Tanwanteng – CJS Richard Shannon – Craig Hallum Mark Lipacis – Jefferies Ross Seymore – Deutsche Bank Operator Good d ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number: 001-39755 Navitas Semiconductor Corporation (Exact name of registrant as specified in its charter) Delaw ...