Navitas Semiconductor Q1 Revenue Rises 18% to $8.6M, Margin Improves to 39%
NVTS•Navitas reported Q1 revenue of $8.6 million, up 18% sequentially, with non-GAAP gross margin rising to 39%, driven by high-power markets that accounted for the majority of sales and grew ~35% year-over-year. The company appointed Tonya Stevens as CFO and sees Q2 revenue of $10 million ± $0.5 million.
1. First Quarter Financial Performance
Navitas reported Q1 revenue of $8.6 million, an 18% increase from Q4, with non-GAAP gross margin rising to 39% and GAAP operating loss narrowing to $27.8 million; cash stood at $221 million at quarter-end.
2. Shift to High-Power Markets
High-power markets including AI data centers, grid infrastructure, performance computing and industrial electrification comprised the majority of sales and grew approximately 35% year-over-year, underpinning the strategic pivot away from mobile and consumer segments.
3. Product and Technology Highlights
The company unveiled a 20 kW 800 V–6 V GaNFast™ power delivery board with up to 97.5% efficiency, demonstrated a 250 kW solid-state transformer using GeneSiC™ devices, and expanded its 1200 V SiC MOSFET portfolio for AI data center power systems.
4. Leadership and Outlook
Navitas appointed Tonya Stevens as CFO to drive profitable growth and operational excellence, named Gregory Fischer to the board, and issued Q2 revenue guidance of $10.0 million ± $0.5 million, forecasting continued sequential growth.
