Navitas Semiconductor Corp NVTS
Navitas Semiconductor Corporation ("we," us," "Navitas" or the "Company") designs, develops and markets next-generation power semiconductors including gallium nitride (GaN) power integrated circuits (ICs), high-voltage silicon carbide (SiC) devices and associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. We focus on high-power markets including artificial intelligence ("AI") data centers, energy and grid infrastructure, performance computing and industrial electrification.
Our products are engineered to deliver superior efficiency, performance, power density, and sustainability compared to legacy, silicon-based technologies. By leveraging the unique properties of wide bandgap (WBG) materials such as GaN and SiC, our solutions enable higher power throughput, higher voltage operation, improved thermal performance, and reduced system size and cost, which are critical advantages for high-power applications such as hyperscale and AI data centers, grid electrification, high-performance computing clusters, and industrial automation. We operate as a product design house that contracts the manufacturing of its chips and packaging to partner suppliers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $45.9M | $83.3M | $79.5M | $37.9M | $23.7M | $11.8M | — |
| Cost of revenue | $31.7M | $55.0M | $48.4M | $26.0M | $13.1M | $8.1M | — |
| Gross profit | $14.2M | $28.3M | $31.1M | $11.9M | $10.7M | $3.7M | — |
| R&D | $49.8M | $76.0M | $68.8M | $50.3M | $27.5M | $13.0M | — |
| SG&A | $35.2M | $62.9M | $61.6M | $78.4M | $51.4M | $9.5M | — |
| Total operating expenses | $122.0M | $159.0M | $149.2M | $135.6M | $79.2M | $22.5M | — |
| Operating income | -$107.8M | -$130.7M | -$118.1M | -$123.6M | -$68.5M | -$18.8M | — |
| Pre-tax income | -$116.9M | -$88.8M | -$146.5M | $50.1M | -$152.6M | -$19.0M | — |
| Income tax | $50.0K | $342.0K | $517.0K | $22.8M | $47.0K | $5.0K | — |
| Net income | -$117.0M | -$84.6M | -$145.4M | $73.9M | -$152.7M | -$19.0M | — |
| EPS, basic | -0.57 | -0.46 | -0.86 | 0.55 | -3.90 | -1.17 | — |
| EPS, diluted | -0.57 | -0.46 | -0.86 | 0.51 | -3.90 | -1.17 | — |
| Shares, diluted (wtd. avg.) | 205.6M | 182.5M | 168.9M | 145.7M | 39.2M | 16.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $236.9M | $86.7M | $152.8M | $110.3M | $268.3M | $38.9M | $6.1M |
| Receivables | $3.6M | $14.0M | $25.9M | $9.1M | $8.3M | $4.2M | — |
| Inventory | $13.3M | $15.5M | $22.2M | $19.1M | $12.0M | $3.4M | — |
| Total current assets | $259.9M | $121.8M | $206.2M | $142.1M | $291.4M | $46.9M | — |
| Property, plant and equipment | $9.8M | $15.4M | $9.2M | $6.5M | $2.3M | $722.0K | — |
| Goodwill | $163.2M | $163.2M | $163.2M | $161.5M | $0 | — | — |
| Other intangibles | $53.3M | $72.2M | $91.1M | $105.6M | $170.0K | $515.0K | — |
| Total assets | $500.5M | $390.0M | $485.5M | $425.3M | $295.6M | $48.5M | — |
| Short-term debt | — | — | — | $0 | $3.2M | $1.0M | — |
| Total current liabilities | $52.1M | $21.1M | $48.5M | $20.4M | $10.7M | $6.4M | — |
| Long-term debt | — | — | — | $0 | $3.7M | $5.0M | — |
| Total liabilities | $56.8M | $42.0M | $104.9M | $40.5M | $230.1M | $11.4M | — |
| Retained earnings | -$501.7M | -$384.8M | -$300.2M | -$154.8M | -$228.7M | -$76.0M | — |
| Total equity | $443.7M | $348.0M | $380.6M | $384.8M | $65.5M | -$72.4M | -$54.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$42.9M | -$58.8M | -$41.4M | -$44.5M | -$41.7M | -$20.6M | — |
| Depreciation and amortisation | $3.5M | $3.0M | $2.2M | $980.0K | $410.0K | $344.0K | — |
| Stock-based compensation | $14.5M | $43.0M | $54.0M | $63.3M | $41.4M | $1.0M | — |
| Capital expenditure | $1.5M | $6.8M | $4.8M | $4.6M | $2.1M | $223.0K | — |
| Investing cash flow | -$1.4M | -$9.3M | -$5.8M | -$107.6M | -$3.5M | -$215.0K | — |
| Financing cash flow | $194.6M | $3.5M | $89.7M | -$5.8M | $274.5M | $53.6M | — |
| Buybacks | — | — | $0 | $550.0K | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-058742.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $11.8M | $23.7M | $37.9M | $79.5M | $83.3M | $45.9M |
| Gross profit | — | $3.7M | $10.7M | $11.9M | $31.1M | $28.3M | $14.2M |
| Net income | — | -$19.0M | -$152.7M | $73.9M | -$145.4M | -$84.6M | -$117.0M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event Item 8.01
- Material agreement signed Item 1.01
- Other event Item 8.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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