Navitas Semiconductor Corp.: Beat — EPS -$0.03, Revenue $13.99M
Earnings BeatQ3 2026 · After-market
Did Navitas Semiconductor Corp. (NVTS) beat earnings today?
Yes, Navitas Semiconductor Corp. (NVTS) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+25.00% surprise
-$0.03Actual
Expected: -$0.04
vs. year ago +40.0%
Total Revenue+3.64% surprise
$13.99MActual
Expected: $13.5M
vs. year ago +38.0%
Released Nov 03 · 4:05 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $13.99M | $10.11M | +38.0 |
| GAAP Basic EPS | $(0.14) | $(0.09) | - |
| GAAP Diluted EPS | $(0.14) | $(0.09) | - |
| Non-GAAP Basic EPS | $(0.03) | $(0.05) | - |
| Non-GAAP Diluted EPS | $(0.03) | $(0.05) | - |
| Net Loss | $(37.108M) | $(19.234M) | - |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | FY 2026 Outlook | ||
|---|---|---|---|---|
| Guidance | Expected | Guidance | Expected | |
| Net revenues | $16.0M ±$0.5M (+14% QoQ, +119% YoY | $15.1MBeat +5.96% | 7% YoY | $47.69M |
| High-power markets | — | — | 125% revenue growth | — |
| Non-GAAP gross margin | 40.5% ±100 bps | — | — | — |
| Non-GAAP operating expenses | $25.0M ±$1.0M | — | — | — |
Q4 2026 Outlook
- Net revenues
- Guidance$16.0M ±$0.5M(+14% QoQ, +119% YoYExpected$15.1MBeat +5.96%
- High-power markets
- Guidance—Expected—
- Non-GAAP gross margin
- Guidance40.5% ±100 bpsExpected—
- Non-GAAP operating expenses
- Guidance$25.0M ±$1.0MExpected—
FY 2026 Outlook
- Net revenues
- Guidance7% YoYExpected$47.69M
- High-power markets
- Guidance125% revenue growthExpected—
- Non-GAAP gross margin
- Guidance—Expected—
- Non-GAAP operating expenses
- Guidance—Expected—
Business Highlights
- ➤Closed the Claros acquisition, adding IVR capabilities for grid-to-xPU power delivery.
- ➤Collaborated with NVIDIA on an 800 V-to-12 V power-delivery board.
- ➤Partnered with Microchip on an 800 V reference design for AI data centers.
- ➤Selected by the U.S. government to develop next-generation 10 kV SiC power semiconductors.
- ➤Announced first U.S.-manufactured Gen 5 GaNFast shipments through GlobalFoundries.
- ➤Formed a strategic Magnachip partnership for high- and ultra-high-voltage SiC adoption.
- ➤Licensed GeneSiC technology to Magnachip with longer-term foundry support.
- ➤Expanded its portfolio across GaN, high-voltage SiC, ultra-high-voltage SiC, and IVR technologies.
Management Commentary
Chris Allexandre, President and CEO
“Our strong third quarter results and the continued acceleration in high-power markets reflect the successful execution of our Navitas 2.0 transformation.”
Chris Allexandre, President and CEO
“By year-end, we expect mobile and low-end consumer revenue to be essentially eliminated from our mix, further positioning the Company as a high-power business with AI Infrastructure, composed of AI Data Centers and energy grid infrastructures that power them, expected to account for more than 40% of total revenue. The timing of our transformation coincides with AI infrastructure undergoing a fundamental re-architecture. Power is rapidly becoming the single largest constraint to the growth of AI compute, making efficiency the critical enabler of increased capacity – every watt saved in power conversion and delivery is another watt available for AI compute. Realizing this increased capacity requires breaking the power wall with new technologies, including 800 V architectures as well as integrated voltage regulation (IVR), which are fundamental to scaling the higher-density power demands of next-generation AI platforms. The recent acquisition of Claros completes our strategic portfolio for powering AI infrastructure from grid-to-xPU by combining high- and ultra-high-voltage SiC, GaN, and IVR technology stack serving both Vertical Power Delivery (VPD) and Embedded Power Delivery (EPD) architectures, aimed at unlocking the last step of power delivery to meet the rising current demands of xPUs. We believe this uniquely positions Navitas at the forefront of a multi-year secular growth opportunity as customers seek to convert more of every available megawatt into useful AI compute.”
Tonya Stevens, CFO
“Our third quarter results demonstrate the sustained momentum from our Navitas 2.0 transformation, with revenue of $14 million representing 33% sequential growth and 38% year-over-year growth—the first quarter of year-over-year growth since 2024. Revenue contribution from high-power markets grew more than 50% sequentially, driving GAAP gross margin to 21.5% and non-GAAP gross margin to 40%, which was above the midpoint of guidance and marked another quarter of gross margin expansion. At the midpoint of our fourth quarter guidance, we expect to deliver the fourth consecutive quarter of double-digit sequential revenue growth and exit 2026 as a high-power company with a strong book-to-bill ratio well above one and backlog that extends into mid-2027. Also based on our guidance, we anticipate achieving revenue growth of 7% for the full year 2026 with our core high-power business continuing to deliver triple-digit growth, even with our mobile and low-end consumer business dropping to effectively zero after representing a large majority of total revenue last year.”