Loading...
•
Jun 30, 2023
Navitas Semiconductor Q2 2023 Earnings Report
Announced second quarter 2023 financial results with revenue up 110% from prior year and 35% from prior quarter.
Key Takeaways
Navitas Semiconductor reported a strong second quarter in 2023, with revenue reaching $18.1 million, a 110% increase year-over-year and a 35% increase from the previous quarter. The customer pipeline increased 30% to over $1 billion. The company's GAAP loss from operations was $27.2 million, while non-GAAP loss from operations was $9.6 million.
Revenue up 110% from prior year, and up 35% from prior quarter.
Customer pipeline increased 30% to over $1 billion, with growth across all markets.
Cumulative shipments now exceed 100 million GaN and 12 million SiC devices.
GAAP and non-GAAP gross margin for the second quarter of 2023 was 41.5%.
Forward Guidance
Third-quarter 2023 net revenues are expected to increase to $21 million plus or minus 2%. Gross margin for the third quarter is expected to be relatively flat compared to the second quarter of 2023. Operating expenses, excluding stock-based compensation and amortization of intangible assets, are expected to be approximately $18.5 to $19.5 million in the third quarter of 2023.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...