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 ...

Core Insights - Navitas Semiconductor has launched the world's first production-released 650 V bi-directional GaNFast ICs and high-speed isolated gate-drivers, marking a significant advancement in power semiconductor technology [1][4][8] - The new bi-directional GaNFast ICs enable a shift from traditional two-stage power converters to single-stage BDS converters, which can lead to substantial cost and size reductions in various applications [2][3][5] Company Overview - Navitas Semiconductor is a pure-play, next-generation power semiconductor company, specializing in gallium nitride (GaN) and silicon carbide (SiC) technologies [1][11] - The company has been operational for 10 years and holds over 300 patents, with a focus on markets such as AI data centers, electric vehicles (EV), solar energy, and energy storage [11] Product Details - The initial bi-directional GaNFast ICs include models NV6427 and NV6428, featuring low on-resistance values of 100 mΩ and 50 mΩ respectively, and are available in thermally enhanced packaging [6] - The IsoFast devices are designed to drive bi-directional GaN with significantly improved transient immunity and no need for external negative bias supply [7] Market Impact - The transition to single-stage BDS converters is expected to open multi-billion dollar market opportunities in EV charging, solar inverters, energy storage, and motor drives [1][3][8] - Implementing GaNFast-enabled single-stage converters can result in up to 10% cost savings, 20% energy savings, and up to 50% size reductions [3] Future Developments - Navitas plans to extend its product family with lower on-resistance offerings in the future [6] - The company will showcase its new products at the APEC 2025 power electronics conference [10]

Core Insights - Navitas Semiconductor experienced a significant stock sell-off, with a 22.7% decline in share price over the last week of trading [1] - The company's fourth-quarter earnings report was below market expectations, contributing to the stock's decline [2][3] - Broader macroeconomic concerns and Nvidia's Q4 results also negatively impacted Navitas' stock performance [5][6] Financial Performance - Navitas reported a loss per share of $0.21 on sales of $17.98 million for the fourth quarter, which was worse than the Wall Street analyst estimate of a loss of $0.14 on sales of $19.03 million [3] - Revenue for the fourth quarter decreased by 31% compared to the same period last year [3] - For the first quarter, Navitas expects sales to be between $13 million and $15 million, indicating an annual sales decline of approximately 39.6% at the midpoint of the guidance range [4] Market Context - The sell-off in Navitas' stock was exacerbated by a general trend of investors moving away from growth-dependent tech stocks due to new macroeconomic risks [2][5] - Nvidia's Q4 report raised concerns about potential impacts from new export restrictions on semiconductors, contributing to bearish sentiment in the AI and semiconductor sectors [6]