Financial Performance - Navitas Semiconductor Corporation (NVTS) reported a quarterly loss of $0.06 per share, consistent with the Zacks Consensus Estimate, compared to a loss of $0.04 per share a year ago [1] - The company posted revenues of $17.98 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 6.03%, and down from $26.06 million year-over-year [2] - Over the last four quarters, Navitas has not surpassed consensus EPS estimates and has topped consensus revenue estimates only twice [2][3] Market Performance - Navitas Semiconductor shares have declined approximately 11.2% since the beginning of the year, while the S&P 500 has gained 2.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.07 on revenues of $16.74 million, and for the current fiscal year, it is -$0.21 on revenues of $88.23 million [7] Industry Outlook - The Electronics - Semiconductors industry, to which Navitas belongs, is currently ranked in the bottom 48% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Navitas's stock performance [5][6]

Financial Performance - Total revenue for Q4 2024 was $18.0 million, a decrease of 31% from $26.1 million in Q4 2023 and a decrease of 17% from $21.7 million in Q3 2024[6]. - Full year 2024 revenue grew to $83.3 million, a 5% increase from $79.5 million in 2023[6]. - GAAP loss from operations for Q4 2024 was $39.0 million, compared to a loss of $26.8 million in Q4 2023[6]. - Net revenues for Q4 2024 were $17,978,000, a decrease of 30.9% compared to $26,058,000 in Q4 2023[17]. - Gross profit margin for Q4 2024 was -9.7%, down from 27.0% in Q4 2023, indicating a significant decline in profitability[18]. - The net loss attributable to controlling interest for the year ended December 31, 2024, was $84,599,000, compared to $145,433,000 in 2023, showing an improvement[17]. - Non-GAAP gross profit for the year ended December 31, 2024, was $33,678,000, slightly up from $33,210,000 in 2023[18]. - Non-GAAP net loss per share for Q4 2024 was $(0.06), compared to $(0.04) in Q4 2023[19]. Customer and Market Insights - Customer pipeline increased 92% from $1.25 billion in December 2023 to $2.4 billion in December 2024[6]. - AI is driving the fastest-growing end-market within the customer pipeline, now valued at $165 million, up more than 100% from 2023[6]. - Over 40 customer wins in the EV sector in 2024, with the first GaN EV win announced for 2026 production[6]. - Record GaN revenue increased over 50%, with design-wins totaling $450 million, primarily in Data Center and EV sectors[5]. Future Projections - First quarter 2025 net revenues are expected to be between $13.0 million and $15.0 million[8]. - Non-GAAP gross margin for Q1 2025 is expected to be approximately 38%[8]. - Navitas plans to unveil a breakthrough in power conversion technology on March 12, 2025, expected to drive major improvements in energy efficiency and power density[7]. Expenses and Restructuring - Total operating expenses increased to $41,212,000 in Q4 2024, up 9.5% from $37,784,000 in Q4 2023[17]. - Research and development expenses for Q4 2024 were $18,974,000, an increase of 4.9% from $18,087,000 in Q4 2023[18]. - The company reported a restructuring expense of $1,223,000 for the year ended December 31, 2024[19]. Balance Sheet and Assets - Total current assets decreased from $206,162 million in December 31, 2023 to $120,266 million in December 31, 2024, a decline of approximately 41.6%[21]. - Cash and cash equivalents dropped significantly from $151,892 million to $86,737 million, representing a decrease of about 42.9%[21]. - Total liabilities reduced from $104,929 million in December 31, 2023 to $41,965 million in December 31, 2024, a decrease of approximately 60.0%[21]. - Stockholders' equity decreased from $380,617 million to $348,013 million, reflecting a decline of about 8.5%[21]. - Accounts receivable, net fell from $25,858 million to $13,982 million, a decrease of approximately 46.0%[21]. - Inventories decreased from $22,234 million to $15,477 million, representing a decline of about 30.4%[21]. - Accounts payable and other accrued expenses dropped from $24,740 million to $10,754 million, a decrease of approximately 56.5%[21]. - The company reported an increase in property and equipment, net from $9,154 million to $15,421 million, an increase of about 68.0%[21]. - The earnout liability decreased significantly from $46,852 million to $10,208 million, a reduction of approximately 78.2%[21]. - Total assets decreased from $485,546 million to $389,978 million, reflecting a decline of about 19.7%[21].

Core Insights - Navitas Semiconductor reported unaudited financial results for Q4 and FY 2024, highlighting growth in GaN revenues despite industry challenges [1][2] - The company achieved record GaN revenues, particularly in mobile, consumer, and appliance sectors, and secured $450 million in customer design-wins, indicating strong future growth potential [2][6] Q4 2024 Financial Highlights - Total revenue for Q4 2024 was $18.0 million, a decrease from $26.1 million in Q4 2023 and $21.7 million in Q3 2024 [7] - GAAP loss from operations for Q4 2024 was $39.0 million, compared to a loss of $26.8 million in Q4 2023 [7] - Cash and cash equivalents stood at $86.7 million as of December 31, 2024 [7] FY 2024 Financial Highlights - Total revenue for FY 2024 increased by 5% to $83.3 million from $79.5 million in 2023 [7] - GAAP loss from operations for the year was $130.7 million, up from a loss of $118.1 million in 2023 [7] - Customer pipeline grew by 92% to $2.4 billion by December 2024 [7] Market, Customer, and Technology Highlights - The data center market is the fastest-growing segment, now valued at $165 million, driven by AI applications [7] - Over 40 customer wins in the EV sector were reported, with a focus on SiC technology for onboard and roadside chargers [7] - GaN technology adoption in mobile chargers reached 10% globally, with over 180 customer wins in 2024 [7] Business Outlook - For Q1 2025, net revenues are expected to be between $13.0 million and $15.0 million, with a non-GAAP gross margin projected at 38% [8]

Core Insights - Navitas Semiconductor will showcase advancements in GaN and SiC technologies at APEC 2025, focusing on applications in AI data centers, electric vehicles (EV), and mobile devices [1][5] - The company aims to promote the transition from traditional silicon to next-generation GaN and SiC power semiconductors, which could potentially save over 6,000 megatons of CO2 emissions annually by 2050 [2] Company Overview - Navitas Semiconductor is a pure-play power semiconductor company, founded in 2014, specializing in GaN and SiC technologies [4] - The company has over 250 patents issued or pending and offers the industry's first 20-year warranty on its GaNFast products [4] APEC 2025 Participation - Navitas will have a booth (1107) at APEC 2025, taking place from March 16 to 20 in Atlanta, Georgia, to highlight its mission to 'Electrify our World™' [2][7] - The company will present in the Industry Session, showcasing the latest developments in power electronics [3] Key Product Innovations - Navitas will unveil the world's first 8.5 kW AI data center power supply with 98% efficiency, utilizing high-power GaNSafe™ power ICs and Gen-3 Fast SiC MOSFETs [5] - The company will also present the highest power density AI power supply, delivering 4.5 kW in a compact form factor, achieving 137 W/in and over 97% efficiency [5] - New advancements include 'IntelliWeave' digital control for AI data center power supplies, mid-voltage GaNFast FETs for 48V applications, and automotive-qualified Gen-3 Fast SiC MOSFETs [5] Technical Presentations - Navitas will conduct several technical presentations during APEC, covering topics such as marketing and technology trends in power electronics, WBG converter design, and advancements in power solutions [4][5]

Company Overview - Navitas Semiconductor, established in 2014 in California, focuses on creating power chips that are transforming the functionality of gadgets, cars, and various electronic devices [1] Investment Principles - Grassroots Trading emphasizes objective, unbiased, and balanced research, relying on solid data without emotional influences [1] - The company targets small- to mid-cap firms, providing insights on often overlooked investment opportunities, while also identifying potential in large- and mega-cap companies [1]

Navitas Semiconductor (NVTS) is set to release its fourth-quarter 2024 results on Feb. 24.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.For the fourth quarter of 2024, net revenues are expected to be between $18 million and $20 million. The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $19.13 million, suggesting a year-over-year decline of 26.59%. The consensus mark for loss is pegged at 6 cents per share for the fourth quarter of 2024, which remained unchanged o ...

TORRANCE, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, is set to unveil a breakthrough in power conversion that will create a paradigm shift across multiple major end markets. These developments include both semiconductor and system innovations which are expected to drive major improvements in energy efficiency & power density and further accelerat ...

Navitas Semiconductor to Report Q4 and Full Year 2024 Financial Results on Monday, February 24th, 2025 and Participate in Upcoming Investor Events Navitas Semiconductor (Nasdaq: NVTS) today announced that it will report fourth quarter and full year 2024 financial results after the market close on Monday, February 24th, 2025. Management will host a conference call and live webcast to present the company's financial results and answer questions from the financial analyst community at 2:00 p.m. Pacific / 5: ...

GaNFast™ and GeneSiC™ power technologies deliver portability, efficiency, and sustainability for Dell AI notebook computer adapters from 60 W to 360 W Navitas’ GaN & SiC Devices Power Dell’s™ Family of AI Notebooks GaNFast™ and GeneSiC™ power technologies deliver portability, efficiency, and sustainability for Dell AI notebook computer adapters from 60 W to 360 W TORRANCE, Calif., Feb. 05, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the industry leader in next-generation GaNFast galliu ...

TORRANCE, Calif., Feb. 05, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (NASDAQ:NVTS), the industry leader in next-generation GaNFast gallium nitride (GaN) and GeneSiC silicon carbide (SiC) power semiconductors, today announced its adoption of both technologies into Dell's family of notebook adapters, from 60 W to 360 W. Enabled by over 20 years of SiC technology leadership, GeneSiC leads on performance of SiC MOSFETs with patented ‘trench-assisted planar' technology and 5th-gen GeneSiC silicon carbide (S ...