NVTS Q4 Loss In Line With Estimates, Revenues Decline Y/Y

Core Insights - Navitas Semiconductor (NVTS) reported a fourth-quarter 2025 non-GAAP loss of 5 cents per share, matching the Zacks Consensus Estimate and improving from a loss of 6 cents in the same quarter last year [1][9] - The company's fourth-quarter 2025 revenues were $7.3 million, exceeding the Zacks Consensus Estimate by 6.7%, but down 59.4% from $17.98 million in the year-ago quarter [1][9] Operating Results - The non-GAAP gross margin for the quarter was 38.7%, a decrease of 150 basis points year over year [2][9] - Non-GAAP Research and Development (R&D) expenses fell by 32.1% year over year to $8.1 million, representing 110.6% of revenues compared to 66.1% in the previous year [2] - Non-GAAP Selling, General and Administrative (SG&A) expenses decreased by 15% year over year to $6.8 million, accounting for 93.3% of revenues compared to 44.5% in the year-ago quarter [3] Balance Sheet Details - As of December 31, 2025, cash and cash equivalents stood at $236.9 million, up from $150.6 million in the previous quarter [4] Q1 2026 Guidance - For the first quarter of 2026, Navitas Semiconductor expects revenues to be between $8.0 million and $8.5 million, which is above the current Zacks Consensus Estimate of $7.3 million, indicating a 47.9% decline from the same quarter last year [5] - The expected non-GAAP gross margin for Q1 2026 is projected to be 38.7% (+/- 25 bps), with operating expenses anticipated to be around $15 million [5] Consensus Estimates - The consensus estimate for the first-quarter 2026 loss is 5 cents per share, unchanged over the past 60 days and narrower than the loss of 6 cents reported in the year-ago quarter [6]