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]

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, 2025 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 Delaware 85-2560226 (State or other jurisdiction of incorporation or organization) 3520 Challenger Street ( ...

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]

Navitas Semiconductor (NVTS) Q1 2025 Earnings Call May 05, 2025 05:00 PM ET Speaker0 Good afternoon. Thank you for standing by, and welcome to Nepitas Semiconductor First Quarter twenty twenty five Financial Results Conference Call. Please be advised today's conference is being recorded and a replay will be available on Navitas Investor Relations website. I would now like to hand the conference over to Lori Barker, Investor Relations. Please go ahead. Speaker1 Good afternoon, everyone. I'm Lori Barker, Inve ...

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].

Core Insights - Navitas Semiconductor has appointed Richard Hendrix as the new chair of the board, effective immediately, to enhance corporate governance and align board interests with stockholders [4][5] - The company has formed an executive steering committee to oversee strategic initiatives aimed at accelerating growth and profitability [8][11] - Daniel Kinzer has resigned from his executive roles but will continue to support the company in an advisory capacity [6][7] Corporate Governance Enhancements - Richard Hendrix, with over 30 years of capital markets experience, succeeds Gene Sheridan as chair while Sheridan remains CEO [4][5] - The board's commitment to strong corporate governance is emphasized, aiming to create value for stockholders [5] Strategic Initiatives - The executive steering committee will focus on expense management, product and technology roadmap acceleration, go-to-market strategies, and executive appointments [8][11] - The committee will work closely with CEO Gene Sheridan to ensure effective execution of these priorities [8] Market Position and Opportunities - Navitas is recognized as the only pure-play, next-generation power semiconductor company, specializing in GaN and SiC technologies [2][14] - The company aims to capitalize on multi-billion dollar market opportunities in sectors such as data centers, electric vehicles, and renewable energy [3][14]