Loading...
•
Dec 31, 2023
Navitas Semiconductor Q4 2023 Earnings Report
Navitas Semiconductor announced record fourth quarter and full year 2023 financial results
Key Takeaways
Navitas Semiconductor reported a record fourth quarter, with revenue reaching $26.1 million, a 111% increase year-over-year and 19% sequentially. The company's full-year revenue more than doubled, demonstrating strength across multiple markets.
Q4 revenue reached $26.1 million, up 111% year-over-year and 19% sequentially.
Full year revenue was $79.5 million, up 109% from the prior year.
GAAP gross margin for the fourth quarter of 2023 was 42.2%, compared to 40.6% in the fourth quarter of 2022.
The company has significant new wins in AI data centers, home appliances, solar inverters and internet satellite, driving growth outlook for 2024.
Forward Guidance
First quarter 2024 net revenues are expected to be $23 million plus or minus $500 thousand. Gross margin for the first quarter is expected to be 41% plus or minus 50 basis points and operating expenses, excluding stock-based compensation and amortization of intangible assets, are expected to be approximately $21.5million in the first quarter of 2024. Weighted-average basic share count is expected to be approximately 180 million shares for the first quarter of 2024.
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...