Navitas Q3 revenue $10.2M +82% YoY; GAAP gross margin 3.8%; guides Q4 rev $11-13M

Navitas Semiconductor Corp

2022-Q3 EPS reported $0.58 revenue$25,594,000

GAAP loss from ops $37.4M vs $6.8M loss YoY; non-GAAP loss $0.07 / share.
Signed long-term SiC supplier agreements enabling 5x capacity increase in 2023.
Shipped 65M GaN units with zero reported field failures; Gen 4 GaN adoption quick.
Q4 net revenue guidance $11-13M; gross margin ~40%; non-GAAP op ex ~$17.5M.
22 new SiC customer projects with automakers BYD, Geely, GM, Land Rover Jaguar.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Navitas Semiconductor Corp reported the third quarter ended September 30, 2022 results: revenue $10.2 million, net income GAAP loss per diluted share was $0.24, EPS $0.24.

Period: the third quarter ended September 30, 2022
Revenue: $10.2 million
Net income: GAAP loss per diluted share was $0.24
EPS: $0.24
Result: reported results

Exact text from the filing

in next-generation power semiconductors, today announced unaudited financial results for the third quarter ended September 30, 2022. Net revenues for the quarter increased to $10.2 million, up 82% from the third quarter of 2021, and up 19% from the prior quarter. GAAP gross margin was 3.8%, due primarily to inventory adjustments, compared to 46.2% in the third

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Source: SEC EDGAR

accession 0001821769-22-000032

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