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Navitas Semiconductor Corporation (Nasdaq: NVTS) is a leading innovator in the power semiconductor industry, headquartered in El Segundo, California. The company is renowned for its groundbreaking introduction of the world’s first and fastest AllGaN™ power ICs, which revolutionize high-frequency, high-efficiency, and high-density power electronics. These GaNFast™ power ICs integrate gallium nitride (GaN) power with drive, control, and protection mechanisms, enabling faster charging, higher power density, and significant energy savings across various markets including mobile, consumer, enterprise, eMobility, and new energy.
Formed in 2014, Navitas leverages over 150 years of combined expertise in power semiconductors and holds more than 250 patents. The company’s patented GaN technology spans core device, circuit, packaging, and system technologies, further reinforced by extensive trade secrets, access to over $100 million of R&D equipment, and ongoing collaboration with the Hughes Research Lab (HRL).
Navitas operates globally across key markets such as China, Europe, the United States, and other parts of Asia. A significant portion of its revenue is generated from China. The company focuses on creating ultra-efficient GaN semiconductors that replace legacy silicon power chips, delivering superior high-frequency and high-efficiency characteristics. This shift is pivotal in the fast adoption of electric vehicles (EVs), the transition to renewable energy sources, and advancements in data center technologies.
Recent achievements include the establishment of a joint lab with SHINRY in Shenzhen. This collaboration promises to accelerate the development of advanced battery-electric and fuel-cell vehicle power platforms, leveraging Navitas' leading-edge GaN technology. Furthermore, Navitas has introduced a 3.2kW data center power platform and plans to develop even more powerful systems to meet the escalating demands of AI data centers.
Financially, Navitas concluded 2023 with record revenue growth, doubling its annual revenue. The company’s robust customer pipeline includes significant new wins in AI data centers, home appliances, solar inverters, and satellite internet projects, positioning it well for continued growth in 2024 and beyond. For the first quarter of 2024, the company projects net revenues of $23 million and maintains a focus on expanding its footprint in various high-growth markets.
Navitas prides itself on sustainability, being the first semiconductor company to be CarbonNeutral®-certified. The company’s product range includes complementary GeneSiC™ power devices optimized for high-power, high-voltage, and high-reliability applications. With a dedication to innovation and a strong commitment to environmental responsibility, Navitas continues to push the boundaries of power semiconductor technology.
Navitas Semiconductor has achieved CarbonNeutral®-company certification, becoming the first semiconductor company to do so. This milestone supports Navitas' mission to “Electrify Our World™”. The company specializes in GaN power ICs, which offer significant advantages over traditional silicon technology, including up to 20x faster performance and 40% energy savings. With over 50 million units shipped and zero GaN-related failures, Navitas aims to help customers meet their sustainability goals, projecting a potential reduction of 2.6 Gton CO2 emissions per year by 2050.
Navitas Semiconductor (Nasdaq: NVTS) has appointed Ron Shelton as Senior VP, CFO, and Treasurer, succeeding interim CFO Todd Glickman, who remains SVP of Finance. Shelton, with vast experience in public company finance and over $2 billion in transaction experience, previously served as CFO for Adesto Technologies and GigOptix. His expertise in mergers, acquisitions, and strategic investments will support Navitas' growth initiatives in GaN power ICs. CEO Gene Sheridan expressed confidence in Shelton's capabilities as the company aims to enhance its leadership in the semiconductor sector.
Navitas Semiconductor Corporation (Nasdaq: NVTS) reported a 27% increase in Q1 2022 net revenues to $6.7 million, with a GAAP gross margin of 44%. However, the company faced a GAAP loss from operations of $35 million, up from a loss of $7.3 million in Q1 2021. Despite this, Navitas remains the leader in the GaN power IC market, announcing significant partnerships with major mobile OEMs. The company expects Q2 2022 revenues between $8.0 and $9.0 million while forecasting a doubling of total 2022 net revenues compared to 2021.
Navitas Semiconductor Corporation (NASDAQ: NVTS) reported Q1 2022 revenues of $6.7 million, marking a 27% increase from Q1 2021. While GAAP gross margin stood at 44.0%, the company faced a GAAP loss from operations of $35.0 million, up from $7.3 million in the previous year. The firm highlighted its leadership in the fast charger market, having shipped over 50 million units with zero GaN-related failures. Looking forward, revenues for Q2 are projected between $8.0 and $9.0 million, with full-year guidance indicating a potential doubling of revenues.
Navitas Semiconductor (Nasdaq: NVTS) has unveiled its next-generation GaNFast™ power ICs, featured in Lenovo's new Legion C135 charger. This charger, showcased on the Nasdaq Tower in Times Square, boasts a 135W rating and is 40% smaller than traditional chargers, achieving a 0-100% charge in just 65 minutes. GaN technology allows for faster charging and higher power density, with peak charging efficiency exceeding 92%. Lenovo highlights their collaboration with Navitas as a key to enhancing consumer charging experiences across their product lines.
Navitas Semiconductor (Nasdaq: NVTS) has announced its GaNFast technology is utilized in the TurboPower 68W charger for the motorola edge+ (2022). This charger enables users to charge over 50% of the device in just 15 minutes. The TurboPower 68W is compact and lightweight, measuring 58 x 41 x 28 mm, and features built-in protections for safe charging. GaN technology offers charging speeds up to 20x faster than conventional silicon chips, promoting efficiency and sustainability with each unit saving 4 kg of CO2 emissions.
Navitas Semiconductor (Nasdaq: NVTS) announces the launch of the NV6169, a high-power 650/800 V-rated GaNFast™ power IC designed for demanding applications like 4K/8K TVs, gaming systems, and solar microinverters. This technology boasts 20x faster speeds than traditional silicon, with significant energy savings and size reductions. The NV6169 features a 36% decrease in on-resistance, enhancing power output by 50%. With zero reported failures from over 50 million GaN chips shipped, the NV6169's robust design includes industry-leading ESD ratings and a 20-year warranty, targeting higher-power markets.
Navitas Semiconductor (Nasdaq: NVTS) will report its first quarter 2022 financial results on May 12, 2022, after market close. A conference call will follow at 2:00 p.m. Pacific Time to discuss the results. Navitas specializes in gallium nitride (GaN) power ICs, which outperform traditional silicon chips by running up to 20 times faster, offering up to 3 times more power and energy savings while being more compact. The company has shipped over 40 million units with zero reported field failures, emphasizing quality and sustainability.
Navitas Semiconductor announced its next-gen GaNFast™ power ICs with GaNSense™ technology are now powering vivo’s X Fold smartphone's in-box 80W flash charger. The charger charges to 50% in 17 minutes and fully in 37 minutes, featuring dual USB-C outputs for simultaneous device charging. GaN technology allows for 3x faster charging and up to 40% energy savings compared to traditional silicon. Navitas aims for an efficient, environmentally-friendly future, saving 4 kg of CO2 for every GaN IC shipped.
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