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Navitas Semiconductor Announces First Quarter 2026 Financial Results
Revenue grew 18% sequentially with expanded gross margin, driven by increased contribution from high-power markets, including AI Data Centers, Grid and Energy Infrastructure, Performance Computing and Industrial ElectrificationHigh-power markets represented a large majority of total revenue, growing approximately 35% year-over-yearAppointed Tonya Stevens as CFO to lead financial strategy and drive achievement of key targets, including profitable growth, scaling of high-power business and operati
About this update from Navitas Semiconductor Corporation
TORRANCE, Calif., May 05, 2026 (GLOBE NEWSWIRE) -- Navitas Semiconductor, (Nasdaq: NVTS), an industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, today announced unaudited financial results for its first quarter 2026 ended March 31, 2026. “The first quarter marked a return to top-line sequential growth as we executed on our strategic transformation to Navitas 2.0 by continuing to pivot away from mobile and consumer to focus on high-power markets with our GaN and high-voltage SiC solutions,” stated Chris Allexandre, President and CEO of Navitas. “With growth being driven by high-power markets, the Company continued to reduce reliance on its historical mobile business with high-power markets representing a growing and larger majority of total revenue. “As demonstrated by our participation at NVIDIA GTC and APEC, including the debut of our revolutionary 800V–6V and 800V-50V power delivery boards and our demonstrated 250 kW solid-state transformer solution, Navitas’ GaN and high-voltage SiC technologies are uniquely designed to address the power, density and efficiency needs of the AI revolution. We are targeting a substantial secular growth opportunity across AI data center, energy and grid infrastructure, performance computing, and industrial electrification, representing a $3.5 billion serviceable available market (SAM) in 2030 and growing at a 60%-plus CAGR. Notably, GaN and high-voltage SiC are playing equally vital roles in the AI power revolution, and Navitas is uniquely positioned with both technologies enabling more content, broader applications and a larger portion of the growth opportunity.” Commenting on the results, Tonya Stevens, CFO of Navitas, stated, “We are pleased with the strong momentum and growth across our targeted high-power markets, resulting in revenue growing 18% sequentially to $8.6 million, as well as expanded customer engagements and order backlog. This ongoing strategic shift drove a more favorable revenue mix and a 30 basis point sequential improvement in non-GAAP gross margin for the quarter. We continue to expect increased revenue contribution from high-power markets to deliver sequential top-line growth throughout the remainder of the year. Together with our accelerated product roadmap and commitment to disciplined cost management, we aim to achieve a comp...
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