Quarterly ResultMay 5, 2026, 04:11 PM
Navitas Q1 Revenue $8.6M, +18% Sequentially; Appoints New CFO
AI Summary
Navitas Semiconductor reported unaudited Q1 2026 financial results, with revenue growing 18% sequentially to $8.6 million, driven by increased contribution from high-power markets. The company continued its strategic pivot away from mobile and consumer to focus on AI data centers, grid, and energy infrastructure. Navitas also appointed Tonya Stevens as its new CFO and anticipates continued sequential revenue growth in Q2 2026, with revenue expected to reach $10.0 million.
Key Highlights
- Q1 2026 revenue increased 18% sequentially to $8.6 million.
- High-power markets revenue grew approximately 35% year-over-year.
- Non-GAAP gross margin expanded to 39.0% in Q1 2026.
- Non-GAAP loss from operations was $(11.7) million.
- Cash and cash equivalents stood at $221.0 million as of March 31, 2026.
- Appointed Tonya Stevens as Chief Financial Officer.
- Appointed Gregory Fischer to the Board of Directors.
- Forecasts Q2 2026 net revenues of $10.0 million (+/- $0.5 million).