Navitas Semiconductor Reports 38% Revenue Growth in Third Quarter
Navitas Semiconductor (NVTS) reported third-quarter revenue of $14.0 million, marking a 38% increase from $10.1 million in the prior year. This growth is driven by a strategic shift toward high-power markets and away from mobile and low-end consumer chips. While GAAP gross margins improved significantly to 21.5%, much of this was attributed to accounting effects related to amortized technology rather than organic margin expansion. Looking ahead, the company expects fourth-quarter operating expenses to rise by approximately 50% due to the integration of Claros, a recently acquired power-delivery business. Consequently, while revenue is expected to grow, non-GAAP operating losses are projected to widen in the near term. Investors are also monitoring the company's cash position, which rose to $531.5 million, though specific sources for this liquidity were not detailed in the release.
