Navitas Semiconductor Reports Strong GaN Revenue Growth

Navitas Semiconductor Corporation ( (NVTS) ) has released its Q4 earnings. Here is a breakdown of the information Navitas Semiconductor Corporation presented to its investors.

Navitas Semiconductor Corporation is a leading company in the power semiconductor industry, specializing in gallium nitride (GaN) and silicon carbide (SiC) technologies, which are known for their efficiency and performance in power electronics. The company serves various sectors, including electric vehicles, data centers, and consumer electronics.

Navitas Semiconductor recently announced its financial results for the fourth quarter and full year of 2024, highlighting a significant increase in GaN revenue and a robust pipeline of design wins valued at $450 million. Despite facing industry-wide slowdowns, the company achieved record revenues in several sectors and began shipping GaN and SiC products to data centers.

Key financial metrics for the fourth quarter included a total revenue of $18.0 million, a decrease from the previous year’s $26.1 million, and a GAAP loss from operations of $39.0 million. For the full year, revenue grew by 5% to $83.3 million, with a GAAP loss from operations of $130.7 million. The customer pipeline saw a 92% increase, driven by growth in data centers and electric vehicles, with over 40 customer wins in each sector.

Looking ahead, Navitas Semiconductor remains optimistic about its growth prospects, with expectations of continued expansion in its customer base and technological advancements. The company plans to unveil new power conversion innovations that promise to enhance energy efficiency and power density, potentially accelerating the adoption of GaN and SiC technologies in various markets.