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Sep 30, 2022
Navitas Semiconductor Q3 2022 Earnings Report
Quarterly revenues increased and new long-term SiC supplier agreements enabled capacity increase.
Key Takeaways
Navitas Semiconductor Corporation announced unaudited financial results for the third quarter ended September 30, 2022. Net revenues for the quarter increased to $10.2 million, up 82% from the third quarter of 2021, and up 19% from the prior quarter.
Quarterly revenues Increased 82% over Q3 2021
New Long-Term SiC Supplier Agreements Enable 5x Capacity Increase
Strong demand across data center, EV, energy storage, solar, home appliance and industrial markets
Shipped over 65M GaN units with zero reported GaN field failures
Forward Guidance
Fourth quarter 2022 net revenues are expected to be between $11.0 and $13.0 million. Gross margin for the fourth quarter is expected to be 40% plus or minus 1% and non-GAAP operating expenses are expected to be approximately $17.5 million plus or minus 2%, 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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