Navitas Semiconductor reported unaudited financial results for the fourth quarter and full year ended December 31, 2025, outlining progress in its transition to a high-power-focused strategy branded as “Navitas 2.0.”

President and CEO Chris Allexandre said the company accelerated its pivot toward high-power GaN and high-voltage SiC solutions during the quarter, with high-power markets contributing a majority of revenue for the first time. He highlighted a long-term strategic foundry and technology partnership with GlobalFoundries aimed at expanding U.S.-based GaN manufacturing, along with streamlined go-to-market efforts targeting AI data centers, energy and grid infrastructure, performance computing and industrial electrification.

Allexandre also noted the initiation of customer sampling for new 650 V GaN devices targeting AI data center applications, expanded sampling of mid-voltage 100 V GaN devices, and ultra-high-voltage 2300 V and 3300 V SiC modules. He said the company expects a return to sequential top-line growth beginning in the first quarter of 2026, supported by increased revenue from high-power markets and reduced exposure to mobile and consumer segments.

Fourth Quarter 2025 Financial Highlights

  • Revenue: $7.3 million, compared to $10.1 million in Q3 2025 and $18.0 million in Q4 2024.
  • GAAP Loss from Operations: $41.4 million, compared to $19.4 million in Q3 2025 and $39.0 million in Q4 2024.
  • Non-GAAP Loss from Operations: $12.1 million, compared to $11.5 million in Q3 2025 and $12.7 million in Q4 2024.
  • Q4 GAAP results included a $16.6 million restructuring and impairment charge, of which $3.8 million was non-cash.
  • Cash and Cash Equivalents: $236.9 million as of December 31, 2025, up from $150.6 million at September 30, 2025.
  • In November 2025, Navitas completed a private placement of common stock, generating net proceeds of $95.6 million to support its strategic shift toward higher-power markets.

Recent Market and Technology Highlights

  • Announced a long-term strategic technology and manufacturing partnership with GlobalFoundries to accelerate U.S.-based GaN production, with availability targeted for late 2026.
  • Accelerated sampling of 100 V and new 650 V GaN devices for AI data center 800 V HVDC and 48 V IBC architectures.
  • Introduced an all-GaN 10 kW 800 V–to–50 V DC-DC platform delivering 98.5% peak efficiency.
  • Expanded sampling of 2300 V and 3300 V ultra-high-voltage SiC products featuring Trench-Assisted Planar technology.
  • Launched its 5th-generation GeneSiC™ platform to extend performance and reliability in AI data centers, grid and energy infrastructure, and industrial electrification.
  • Formed a partnership with Cyient Semiconductors to co-develop GaN products and strengthen the ecosystem in India.
  • Consolidated its Asian distribution channel and established global partnerships with WT Microelectronics and Avnet to accelerate adoption in AI data centers and high-performance computing markets.

First Quarter 2026 Outlook

For the first quarter of 2026, Navitas expects:

  • Revenue between $8.0 million and $8.5 million.
  • Non-GAAP gross margin of approximately 38.7%, ±25 basis points.
  • Non-GAAP operating expenses of approximately $15 million.

Management said the company believes continued execution of its Navitas 2.0 strategy, combined with cost optimization and an accelerated product roadmap, positions it for renewed revenue growth and gradual improvement in margins over the coming year.

Original – Navitas Semiconductor