Navitas announces Q1 results
GaN and SiC specialist Navitas Semiconductor has announced its unaudited financial results for the first quarter ended March 31, 2025.
Total revenue was $14.0m in Q1 2025, compared to $23.2m in Q1 2024 and $18.0m in Q4 2024. GAAP loss from operations for the quarter was $25.3m, compared to a loss of $31.6m for Q1 2024 and a loss of $39.0m for Q4 2024. On a non-GAAP basis, loss from operations for the quarter was $11.8m compared to a loss of $11.8m for Q1 2024 and a loss of $12.7m in Q4 2024. Cash and cash equivalents were $75.1 million as of March 31, 2025.
“Our first quarter featured many industry firsts, including the world’s first production release of GaN bi-directional ICs, a 12 kW AI data centre power supply platform and unprecedented reliability standards for both GaN and SiC technology,” said Gene Sheridan, CEO and co-founder.
He added: “These technology and reliability achievements, combined with our $450M of design wins announced for last year, positions the company for important growth later this year and in 2026 and beyond. ”
Business Outlook
Second quarter 2025 net revenues are expected to be $14.0 to $15.0 million. Non-GAAP gross margin for the second quarter is expected to be 38.5 percent plus or minus 50 basis points, and non-GAAP operating expenses are expected to be approximately $15.5 million in the second quarter of 2025.
