Navitas Semiconductor beats Q2 estimates with $10.5M revenue

Navitas Semiconductor reported Q2 revenue of $10.5M, beating consensus estimates by 3.6%.

The company specializes in gallium nitride power semiconductors used in fast chargers, data centers and EVs, a market that has expanded as manufacturers seek more efficient power solutions.

Navitas posted a net loss of $0.04 a share, narrower than the $0.04 loss analysts had projected. Revenue of $10.5M compared with the $10.2M consensus compiled by analysts.

The company did not disclose guidance for the current quarter. Navitas has been expanding its GaN product lineup as adoption accelerates in data center power supplies and EV charging infrastructure, two markets where energy efficiency is a key purchasing criterion.

GaN semiconductors offer higher efficiency and smaller form factors than traditional silicon-based power chips, making them increasingly popular in applications ranging from smartphone chargers to AI data center power supplies. The global GaN power device market is projected to grow as more industries transition to energy-efficient power architectures.

The results show demand for GaN-based power chips is strengthening as the company competes with larger rivals including Infineon Technologies and Texas Instruments in the energy-efficient semiconductor market. The Q2 beat suggests Navitas is gaining traction in design wins for its latest GaN technology platform.

The company has been investing in production capacity and customer partnerships to capture a larger share of the power semiconductor market, which is shifting from silicon to compound semiconductors. Navitas counts major consumer electronics and data center companies among its customers.

Investors will watch for any guidance update from Navitas on its next earnings call. The company's ability to narrow losses while growing revenue will be a key focus as it scales production and competes for market share in the expanding GaN power semiconductor market.

This article is for informational purposes only and does not constitute investment advice.