Navitas Semiconductor announced Q3 2024 financial results with revenue of $21.7 million, down slightly year-over-year. The company reported a GAAP loss from operations of $29.0 million and a non-GAAP loss of $12.7 million. Navitas highlighted record sales in the GaN mobile fast-charger market.The company launched a new low-voltage GaN platform for 48V AI data center, EV, and robotics applications, partnering with Infineon for dual-sourcing. Navitas also announced a cost reduction plan expected to save $2 million per quarter, including a 14% workforce reduction, to accelerate profitability.For Q4 2024, Navitas expects revenue between $18.0-$20.0 million and non-GAAP gross margin of 40% ±50 bps. The company reported progress across multiple markets, including AI data centers, EVs, mobile, and solar, with new design wins and qualifications positioning it for future growth.

Navitas Semiconductor announced Q3 2024 financial results with revenue of $21.7 million, down slightly year-over-year. The company reported a GAAP loss from operations of $29.0 million and a non-GAAP loss of $12.7 million. Navitas highlighted record sales in the GaN mobile fast-charger market.The company launched a new low-voltage GaN platform for 48V AI data center, EV, and robotics applications, partnering with Infineon for dual-sourcing. Navitas also announced a cost reduction plan expected to save $2 million per quarter, including a 14% workforce reduction, to accelerate profitability.For Q4 2024, Navitas expects revenue between $18.0-$20.0 million and non-GAAP gross margin of 40% ±50 bps. The company reported progress across multiple markets, including AI data centers, EVs, mobile, and solar, with new design wins and qualifications positioning it for future growth.