secwatch.observer — SEC 8-K summary
======================================

Issuer:     Navitas Semiconductor Corp (NVTS)
CIK:        0001821769
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001821769-23-000087
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Navitas Q1 revenue $13.4M, doubles YoY; GAAP gross margin 41.1%; sees Q2 revenue $16-17M
--------------------------------------------------------------------------------

- Revenue $13.4M for Q1 2023, ~100% YoY growth and +8% QoQ.
- GAAP gross margin 41.1%, up from 40.6% Q4 2022; GAAP loss from ops $35.5M.
- GAAP loss per share $(0.39); non-GAAP loss per share $(0.07).
- Q2 2023 revenue guidance $16-17M; full-year 2023 revenue still expected to double YoY.
- Customer pipeline $760M; backlog grew 50% in quarter; strong growth in EV, solar, data center.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1821769/000182176923000087/0001821769-23-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1821769/000182176923000087/i-20230515.htm
  HTML page:      https://secwatch.observer/filing/0001821769-23-000087

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer