Navitas ranked again in Deloitte Tech Fast 500
Navitas Semiconductor has announced that the company’s revenue growth has been acknowledged for the third consecutive year, by Deloitte’s Technology Fast 500.
Growth was driven by strong demand for its wide-bandgap GaN and SiC power components, across a growing number of markets and customers.
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America.
Based on percentage fiscal year revenue growth from 2020 to 2023, Navitas achieved 571 percent growth as GaN and SiC technology enabled efficient, sustainable applications and displaced legacy silicon chips.
“As a ‘pure-play’, next-gen, semiconductor company, Navitas continues to outperform the overall power semiconductor market, with record sales into mobile fast chargers, now ramping AI data centre revenues and a strong customer pipeline for EV opportunities,” said Gene Sheridan, CEO and co-founder.
“Recent introductions like GaNSafe, Gen-3 ‘Fast’ SiC, and a newly-announced, 48V-focused range in partnership with Infineon, have built a strong foundation for further revenue growth in applications from 20W to 20MW, and with a market opportunity of over $22B per year.”
