Navitas Semiconductor Announces Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 revenue $14.0 million, up 33% sequentially and 38% year-over-year
- ➤Q3 non-GAAP gross margin reached 40.0%, expanding from 39.5%
- ➤Q4 revenue guided to $16.0 million midpoint, implying 14% sequential growth
- ➤High-power markets expected to exceed 40% of sales by year-end
- ➤Mobile and low-end consumer revenue expected to be essentially eliminated by year-end
Expert Statements
Chris Allexandre, President and CEO of Navitas
“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 of Navitas
“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.”
Chris Allexandre, President and CEO of Navitas
“The timing of our transformation coincides with AI infrastructure undergoing a fundamental re-architecture.”
Chris Allexandre, President and CEO of Navitas
“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.”
Chris Allexandre, President and CEO of Navitas
“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.”
Chris Allexandre, President and CEO of Navitas
“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.”
Chris Allexandre, President and CEO of Navitas
“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 of Navitas
“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.”
Tonya Stevens, CFO of Navitas
“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.”
Tonya Stevens, CFO of Navitas
“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.”
Tonya Stevens, CFO of Navitas
“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.”
* Total revenue grew 33% sequentially and 38% year-over-year, driven by high-power markets and contributing to continued gross margin expansion * Anticipate another quarter of double-digit sequential growth in the fourth quarter to represent the highest quarterly revenue in the past 7 quarters, while having simultaneously substantially exited the mobile and low-end consumer market * Mid-point of fourth quarter guidance represents full-year growth of 7%, with 125% revenue growth from high-power markets, more than offsetting the exit from mobile and low-end consumer business * Growth and record backlog increasingly driven by AI Infrastructure markets, including AI Data Centers and Grid and Energy Infrastructure, which are expected to represent more than 40% of total sales by year-end and contribute to sustained momentum in 2027 TORRANCE, Calif., Nov. 03, 2026 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), a leader in next-generation power semiconductors and power delivery solutions, pioneering GaN, high-voltage and ultra-high-voltage SiC, and IVR technologies, today announced unaudited financial results for its third quarter 2026 ended September 30, 2026.
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