Navitas Q1 revenue up 73% YoY to $23.2M; non-GAAP loss narrows to $11.8M

Navitas Semiconductor Corp

2024-Q1 EPS reported -$0.02 revenue$23,175,000

Revenue $23.2M (+73% YoY); GAAP loss from ops $31.6M improved from $35.5M; non-GAAP loss $11.8M from $12.3M.
Customer pipeline grew to $1.6B; over 160 EV-related customers, 30+ data center projects, 450+ mobile fast chargers.
Q2 revenue guidance $20M±$0.5M; non-GAAP gross margin ~40%; non-GAAP opex ~$21.5M.
Cash and equivalents $129.7M at quarter end; potential 10-Q filing delay of one day due to stock-compensation control processes.

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 first quarter ended March 31, 2024 results: revenue $23.2 million.

Period: the first quarter ended March 31, 2024
Revenue: $23.2 million
Result: reported results

Exact text from the filing

has grown to $1.6 billion – shows that future demand for electrification and energy savings is stronger than ever.” 1Q24 Financial Highlights • Revenue: Total revenue grew to $23.2 million in the first quarter of 2024, a 73% increase from $13.4 million in the first quarter of 2023. • Loss from Operations: GAAP loss from operations for the quarter was $31.6 million,

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Source: SEC EDGAR

accession 0001821769-24-000058

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