AI Earnings Predictions for Navitas Semiconductor Corporation (NVTS)

EX-99.1

2 exhibit991-navitassemicond.htm

EX-99.1

Document

Exhibit 99.1

Navitas Semiconductor Announces Third Quarter 2026 Financial Results

•Total revenue grew 33% sequentially and 38% year-over-year, driven by high-power markets and contributing to continued gross margin expansion

•Anticipate another quarter of double-digit sequential growth in the fourth quarter to represent the highest quarterly revenue in the past 7 quarters, while having simultaneously substantially exited the mobile and low-end consumer market

•Mid-point of fourth quarter guidance represents full-year growth of 7%, with 125% revenue growth from high-power markets, more than offsetting the exit from mobile and low-end consumer business

•Growth and record backlog increasingly driven by AI Infrastructure markets, including AI Data Centers and Grid and Energy Infrastructure, which are expected to represent more than 40% of total sales by year-end and contribute to sustained momentum in 2027

TORRANCE, Calif., Nov. 3, 2026 – Navitas Semiconductor (Nasdaq: NVTS), a leader in next-generation power semiconductors and power delivery solutions, pioneering GaN, high-voltage and ultra-high-voltage SiC, and IVR technologies, today announced unaudited financial results for its third quarter 2026 ended September 30, 2026.

“Our strong third quarter results and the continued acceleration in high-power markets reflect the successful execution of our Navitas 2.0 transformation,” stated Chris Allexandre, President and CEO of Navitas. “By year-end, we expect mobile and low-end consumer revenue to be essentially eliminated from our mix, further positioning the Company as a high-power business with AI Infrastructure, composed of AI Data Centers and energy grid infrastructures that power them, expected to account for more than 40% of total revenue.

“The timing of our transformation coincides with AI infrastructure undergoing a fundamental re-architecture. Power is rapidly becoming the single largest constraint to the growth of AI compute, making efficiency the critical enabler of increased capacity – every watt saved in power conversion and delivery is another watt available for AI compute. Realizing this increased capacity requires breaking the power wall with new technologies, including 800 V architectures as well as integrated voltage regulation (IVR), which are fundamental to scaling the higher-density power demands of next-generation AI platforms. The recent acquisition of Claros completes our strategic portfolio for powering AI infrastructure from grid-to-xPU by combining high- and ultra-high-voltage SiC, GaN, and IVR technology stack serving both Vertical Power Delivery (VPD) and Embedded Power Delivery (EPD) architectures, aimed at unlocking the last step of power delivery to meet the rising current demands of xPUs. We believe this uniquely positions Navitas at the forefront of a multi-year secular growth opportunity as customers seek to convert more of every available megawatt into useful AI compute.”

Commenting on the results, Tonya Stevens, CFO of Navitas, stated, “Our third quarter results demonstrate the sustained momentum from our Navitas 2.0 transformation, with revenue of $14 million representing 33% sequential growth and 38% year-over-year growth—the first quarter of year-over-year growth since 2024. Revenue contribution from high-power markets grew more than 50% sequentially, driving GAAP gross margin to 21.5% and non-GAAP gross margin to 40%, which was above the midpoint of guidance and marked another quarter of gross margin expansion. At the midpoint of our fourth quarter guidance, we expect to deliver the fourth consecutive quarter of double-digit sequential revenue growth and exit 2026 as a high-power company with a strong book-to-bill ratio well above one and backlog that extends into mid-2027. Also based on our guidance, we anticipate achieving revenue growth of 7% for the full year 2026 with our core high-power business continuing to deliver triple-digit growth, even with our mobile and low-end consumer business dropping to effectively zero after representing a large majority of total revenue last year.”

Third Quarter 2026 Financial Highlights

•Revenue: Total revenue was $14.0 million in the third quarter of 2026, compared to $10.5 million in the second quarter of 2026 and $10.1 million in the third quarter of 2025.

•Gross Margin: GAAP gross margin for the quarter was 21.5%, compared to 0.4% in the second quarter of 2026 and (2.0%) in the third quarter of 2025. GAAP gross margin includes approximately $2.5 million of cost associated with amortization of intangibles for the current quarter and $4.0 million for each of the prior periods. The increase in GAAP gross margin primarily reflects lower amortization of intangible assets included in cost of revenues, as certain developed technology intangible assets became fully amortized during the third quarter, and higher revenue. On a non-GAAP basis, gross margin for the quarte

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