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Navitas Ranks in Top 75 of Fastest-Growing Companies in North America on the 2022 Deloitte Technology Fast 500™
Three-year revenue growth of 2,300% for next-generation integrated gallium nitride (GaN) ICs that drive up to 3x more power, or 3x faster charging in half the
About this update from Navitas Semiconductor Corporation
[{"type":"text","content":"Three-year revenue growth of 2,300% for next-generation integrated gallium nitride (GaN) ICs that drive up to 3x more power, or 3x faster charging in half the size and weight vs. legacy silicon chips\nTORRANCE, Calif., Nov. 16, 2022 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the only pure-play, next-generation power semiconductor company and industry leader in GaN power ICs and SiC technology, has been ranked 75th on the Deloitte Technology Fast 500™. Navitas’ high ranking was driven by demand for the company’s high-speed, high-efficiency GaNFast™ power ICs, which helped the company grow revenue by 2,300% between 2018 and 2021. Now in its 28th year, the Fast 500 ranks the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2018 to 2021. Overall, 2022 Technology Fast 500™ companies achieved revenue growth ranging from 241% to 125,138% from 2018 to 2021, with median growth of 611%. Navitas founder and CEO Gene Sheridan comments: “As the world seeks to address the challenges of climate change and deliver on promises for net-zero emissions there is a critical need for next-gen semiconductors that deliver application benefits of energy savings, small size, light weight, high power and faster charging at a great system cost. With over 65,000,000 GaN units shipped, zero reported GaN field failures, and an industry-first 20-year limited warranty, this next-gen technology is aggressively taking share from legacy silicon.” He adds: “With the recent addition of the GeneSiC family of advanced, higher voltage silicon carbide technologies to our existing GaN portfolio we can further accelerate company growth by providing comprehensive, small-form-factor, energy-efficient solutions across mobile, consumer, data center, EV, solar, wind, smart grid, and industrial markets.” About the 2022 Deloitte Technology Fast 500™ Now in its 28th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2018 to 2021. In ...