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Jun 30, 2024
Navitas Semiconductor Q2 2024 Earnings Report
Announced second quarter 2024 financial results with revenue and gross margin at higher end of guidance.
Key Takeaways
Navitas Semiconductor reported Q2 2024 revenue of $20.5 million, a 13% increase year-over-year. The company experienced a GAAP loss from operations of $31.1 million, and cash and cash equivalents were $112.0 million as of June 30, 2024.
Q2 revenue and gross margin were at the higher end of guidance.
First-half revenue increased by nearly 40% year-on-year.
Made important AI data center advances in power systems roadmap to support Hopper, Blackwell, Blackwell Ultra and Rubin processor platforms.
Customer pipeline doubled since December ’23 investor day, with over 60 customer projects in development
Forward Guidance
Third quarter 2024 net revenues are expected to be $22.0 million plus or minus $500 thousand. Non-GAAP gross margin for the third quarter is expected to be 40% plus or minus 50 basis points and non-GAAP operating expenses are expected to be approximately $21.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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