Navitas Q2 revenue $18.1M (+110% YoY); customer pipeline tops $1B

Navitas Semiconductor Corp

2023-Q2 EPS reported -$0.75 revenue$31,420,000

Revenue $18.1M vs $8.6M in Q2 2022 (+110% YoY) and $13.4M in Q1 2023 (+35% QoQ).
GAAP gross margin 41.5%, flat YoY; GAAP operating loss $27.2M; non-GAAP op. loss $9.6M.
Customer pipeline grew 30% to over $1B, with growth across EV, data center, and solar.
Q3 guidance: revenue ~$21M (+/-2%), gross margin flat, opex $18.5-19.5M (ex-stock comp).
Cumulative shipments surpass 100M GaN and 12M SiC devices; Investor Day Nov 30.

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 0.9

Navitas Semiconductor Corp reported second quarter ended June 30, 2023 results: revenue $18.1 million.

Period: second quarter ended June 30, 2023
Revenue: $18.1 million
Result: reported results

Exact text from the filing

pipeline across all key markets including EV, renewable energy, data center, appliance/industrial and mobile segments.” Financial Highlights • Revenue: Total revenue grew to $18.1 million in the second quarter of 2023, a 110% increase from $8.6 million in the second quarter of 2022 and a 35% increase from $13.4 million in the first quarter of 2023. • Gross Margin:

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Source: SEC EDGAR

accession 0001821769-23-000131

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