Navitas Semiconductor (US:NVTS) Newsfilterยท2025-02-24 21:03Core 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]