CORRECTION -- Navitas Semiconductor to Participate in Upcoming Investor US & Asia Conferences

Rhea-AI Summary

Navitas Semiconductor reports record revenue of $18.1 million, up 110% from Q2 2022, and a 30% increase in customer pipeline to over $1 billion. Participating in upcoming investor conferences.

Positive

• Record revenue of $18.1 million, up 110% from Q2 2022
• 30% increase in customer pipeline to over $1 billion

Negative

• None.

Executives to review drivers of $1B pipeline and record revenue, up 110%

TORRANCE, Calif., Aug. 18, 2023 (GLOBE NEWSWIRE) -- In a release issued under the same headline by Navitas Semiconductor, please note that the second paragraph should have read "Navitas’ Q2 2023 results" and not "Navitas’ Q3 2023 results". The corrected release follows:

Navitas Semiconductor, the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, has announced participation in a series of upcoming investor conferences:

Navitas’ Q2 2023 results included record revenue, up 110% vs. Q2 2022 to $18.1 million, gross margin of 41.5%, cash of $177.7 million, and a 30% increase in customer pipeline to over $1 billion.

“Navitas was founded with the mission to ‘Electrify Our World’ as we accelerate the planet’s transition from fossil-fuels to renewable energy sources and clean-energy applications,” said Gene Sheridan, CEO and co-founder. “As the only pure-play, next-gen, power semi company, our leading-edge GaN and SiC technologies are delivering extraordinary growth in both near-term revenue and our customer opportunity pipeline across all key markets including EV, renewable energy, data center, appliance/industrial and mobile segments.”

Conferences by date:

Needham: 4th Annual Needham Virtual Semiconductor & SemiCap 1x1 Conference
August 22^nd, 1-on-1 meetings
Gene Sheridan, CEO, Ron Shelton, CFO, and Stephen Oliver, VP Corp. Mktg & IR.
To register, please contact your Needham sales professional.

Fubon Securities
August 22^nd, 10pm US eastern / August 23^rd 10am Taiwan
Gene Sheridan, CEO, Ron Shelton, CFO and Stephen Oliver, VP Corporate Marketing & IR
To attend, please contact Melody Teng, Global Equities Division at melody.teng@fubon.com

CICC (in Mandarin, 普通话)
August 23^rd, 10pm US eastern / August 24^th 10am Hong Kong/China
Charles (Yingjie) Zha, VP & GM Navitas China and Ron Shelton, CFO
To attend, please contact Nicole Yang, CICC Research Department at xiaoyu5.yang@cicc.com.cn

China Renaissance
August 24^th, 9pm US eastern / August 25^th 9am Hong Kong/China
Gene Sheridan, CEO, Ron Shelton, CFO and Stephen Oliver, VP Corporate Marketing & IR
To attend, please contact Annie Liu, Corporate Access at annieliu@huaxing.com

Jefferies: Jefferies Semiconductor, IT Hardware & Communications Technology Summit
August 29^th, 1-on-1 meetings, Four Seasons Hotel, Chicago, IL.
Ron Shelton, CFO and Stephen Oliver, VP Corporate Marketing & IR.

Deutsche Bank: 2023 Technology Conference
August 30^th, 1-on-1 meetings, Waldorf Astoria Monarch Beach, Dana Point, CA.
Gene Sheridan, CEO.
For more information, please contact your Deutsche Bank representative.

About Navitas

Navitas Semiconductor (Nasdaq: NVTS) is the only pure-play, next-generation power-semiconductor company, founded in 2014. GaNFast™ power ICs integrate gallium nitride (GaN) power and drive, with control, sensing, and protection to enable faster charging, higher power density, and greater energy savings. Complementary GeneSiC™ power devices are optimized high-power, high-voltage, and high-reliability silicon carbide (SiC) solutions. Focus markets include EV, solar, energy storage, home appliance / industrial, data center, mobile and consumer. Over 185 Navitas patents are issued or pending. Over 100 million GaN and 12 million SiC units have been shipped, and with the industry’s first and only 20-year GaNFast warranty. Navitas was the world’s first semiconductor company to be CarbonNeutral®-certified.

Navitas, GaNFast, GaNSense, GeneSiC, and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited and affiliates. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

Contact Information

Stephen Oliver, VP Corporate Marketing & Investor Relations ir@navitassemi.com

 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/78ab1ebf-915b-4ae0-a48a-c69075a2fc1b