From GlobeNewswire: 2025-02-24 16:03:00

Navitas Semiconductor announced a record high in GaN revenue, up over 50% to $18.0 million in the fourth quarter of 2024. Despite headwinds, the company secured $450 million in design-wins, with significant growth in Data Center and EV sectors. The strong balance sheet and expense management will drive profitability acceleration.

For the full year of 2024, Navitas Semiconductor reported a total revenue of $83.3 million, a 5% increase from 2023. The company achieved design-wins worth $2.4 billion, with significant growth in the Data Center, EV, and Mobile sectors. Market highlights include a 92% increase in the customer pipeline and the launch of a GaN solar micro-inverter.

Navitas Semiconductor is set to unveil a breakthrough in power conversion technology on March 12th. The new innovation is expected to drive improvements in energy efficiency and power density across various end markets. This announcement follows the company’s success in securing over 180 customer wins in the Mobile sector and expanding its reach globally.

Looking ahead, Navitas Semiconductor expects first-quarter 2025 net revenues to range from $13.0 to $15.0 million. The company anticipates a non-GAAP gross margin of 38% and operating expenses of approximately $18.0 million for the quarter. Investors can access the full financial results and conference call details on the company’s website.



Read more at GlobeNewswire:: Navitas Semiconductor Announces Fourth Quarter and Full