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Mar 31, 2022
Navitas Semiconductor Q1 2022 Earnings Report
Announced first quarter 2022 financial results, with net revenues increasing and strategic customer wins achieved.
Key Takeaways
Navitas Semiconductor reported a 27% increase in net revenues to $6.7 million for Q1 2022 compared to Q1 2021. The company reinforced its leadership in mobile fast and ultra-fast chargers, shipping over 50 million units with zero reported GaN-related field-failures. Navitas also expanded its customer base and product offerings, including new wins with Samsung, vivo, and Motorola.
Net revenues increased to $6.7 million, up 27% from Q1 2021.
GAAP gross margin was 44.0%.
Shipped over 50 million units with zero reported GaN-related field-failures.
New strategic customers include Samsung, vivo and Motorola.
Forward Guidance
Second quarter 2022 net revenues are expected to be between $8.0 and $9.0 million. Full-year 2022 net revenues are expected to double compared to 2021. GAAP gross margin is expected to be approximately 42% (+/- 1%) for the second quarter and 41% (+/-1%) for the full year.
Challenges Ahead
- Short-term impact from China COVID-related shutdown softness in the supply chain.
- Softness in demand for smartphones.
- Slightly lower-than-expected Q2 revenues.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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