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Navitas Ranked Top 50 in Forbes’ 2024 Most Successful Small Companies
Ranking recognizes growth driven by strong demand for next-gen GaN and SiC power semis in EV, solar, appliance / industrial, data center and mobile TORRANCE,
About this update from Navitas Semiconductor Corporation
[{"type":"text","content":"Ranking recognizes growth driven by strong demand for next-gen GaN and SiC power semis in EV, solar, appliance / industrial, data center and mobile\nTORRANCE, Calif., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the pure-play industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, secured the 49th position on Forbes' 2024 America's Successful Small Companies list. The ranking is recognition of the company’s growth based on strong demand for Navitas’ advanced, high-efficiency, wide bandgap (WBG) GaN and SiC power components, across growing and diverse global markets and an expanding customer base. Forbes evaluated Navitas on earnings growth, sales growth, return on equity, and total stock return over the preceding five years, with a specific focus on the last 12 months, including Navitas’ 115% increase in revenue (Q3’22 to Q3’23). Looking ahead, Navitas will host an in-person 2023 Investor Day at the company’s new Torrance HQ (with livestream), from 12:30 pm Pacific / 3:30 pm US Eastern on Tuesday 12th December. Highlights include a deep dive into four major new GaN/SiC technology platforms and focus markets, plus customer testimonials and a refresh on the $1B+ customer pipeline, plus 2024 and long-term financial outlook. “The top 50 ranking is great recognition by Forbes for Navitas’ growth,” said Gene Sheridan, co-founder and CEO. “GaN and SiC are accelerating the transition away from fossil fuels to ‘Electrify Our World™’ with renewable sources and efficient uses of electricity. This disruptive, displacement technology upgrades from legacy silicon chips, to make existing applications more efficient, lighter, faster charging and longer range, with lower system costs.” About NavitasNavitas 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. GeneSiC™ silicon carbide (SiC) devices offer industry-leading in-circuit performance, robustness and an unprecedented 650 to 6,500 voltage range to address complimentary higher-voltage and higher-power applications. Focus markets include EV, solar, energy stor...