Navitas Q4 revenue $26.1M (+111% YoY), FY revenue $79.5M (+109% YoY)

Navitas Semiconductor Corp

2023-FY EPS reported -$0.86 revenue$79,456,000

Q4 revenue $26.1M, up 111% YoY and 19% sequentially; GAAP gross margin 42.2% (up from 40.6% YoY).
FY 2023 revenue $79.5M, up 109% from $37.9M; GAAP gross margin improved to 39.1% from 31.5%.
New wins in AI data centers, home appliances, solar inverters, satellite internet; over 20 data center designs ramping in 2024.
Q1 2024 guidance: revenue ~$23M (±$500K), gross margin ~41%, opex ~$21.5M (excl. SBC).
Cash $152.8M at year-end; CEO acknowledges H1 headwinds but expects H2 acceleration.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Navitas Semiconductor Corp reported financial results for the fiscal year and quarterly period ended December 31, 2023.

Period: the fiscal year and quarterly period ended December 31, 2023
Result: reported results

Exact text from the filing

On February 29, 2024, Navitas Semiconductor Corporation issued a press release announcing its unaudited consolidated financial results for the fiscal year and quarterly period ended December 31, 2023.

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Source: SEC EDGAR

accession 0001821769-24-000012

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