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Jun 30, 2022
Navitas Semiconductor Q2 2022 Earnings Report
Revenues increased, reflecting market diversification, while guidance tempered by China smartphone softness. The acquisition of GeneSiC was also announced, positioning Navitas as a comprehensive next-generation power semiconductor company.
Key Takeaways
Navitas Semiconductor reported a 58% increase in revenue compared to the second quarter of 2021. The company also announced the acquisition of GeneSiC Semiconductor, which expands their portfolio in next-generation power semiconductors.
Revenues increased 58% with market and regional diversification.
Secured 20+ significant new wins in mobile chargers and accelerating progress in customer development in solar, EV, data center and industrial markets.
The acquisition of GeneSiC positions Navitas as the only pure-play, next-generation power semiconductor company with broad diversification.
GeneSiC acquisition accelerates expansion into strategic EV, solar and energy storage markets by 2-3 years.
Forward Guidance
For the third quarter of 2022, net revenues are expected to be between $9.0 and $11.0 million. Gross margin is expected to be 40% plus or minus 2% and non-GAAP operating expenses are expected to be approximately $14 million plus or minus 3%, excluding stock-based compensation and amortization of intangible assets.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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