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Navitas Semiconductor | 8-K: Navitas Semiconductor Announces Third Quarter 2024 Financial Results

Navitas Semiconductor | 8-K: Navitas Semiconductor Announces Third Quarter 2024 Financial Results

納微半導體 | 8-K:納維塔斯半導體公佈2024年第三季度財務業績
美股SEC公告 ·  2024/11/05 05:29

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Navitas Semiconductor reported Q3 2024 revenue of $21.7M, slightly down from $22.0M YoY, with a GAAP operating loss of $29.0M. The company achieved record sales in the GaN mobile fast-charger market and announced a strategic partnership with Infineon Technologies for dual-sourcing capabilities.The company introduced a new low-voltage GaN platform for 48V AI data center, EV, and robotics applications, while expanding its presence in multiple sectors. Data center production revenues commenced in Q3, with over 60 active customer projects. The EV segment secured six new design wins, and the mobile segment added three new tier-1 OEM wins expected to ramp in Q2 2025.To improve profitability, Navitas announced a cost reduction plan targeting $2M in quarterly savings, including a 14% workforce reduction. The company forecasts Q4 2024 revenue between $18.0-20.0M with a non-GAAP gross margin of approximately 40%. Cash and cash equivalents stood at $98.6M as of September 30, 2024.
Navitas Semiconductor reported Q3 2024 revenue of $21.7M, slightly down from $22.0M YoY, with a GAAP operating loss of $29.0M. The company achieved record sales in the GaN mobile fast-charger market and announced a strategic partnership with Infineon Technologies for dual-sourcing capabilities.The company introduced a new low-voltage GaN platform for 48V AI data center, EV, and robotics applications, while expanding its presence in multiple sectors. Data center production revenues commenced in Q3, with over 60 active customer projects. The EV segment secured six new design wins, and the mobile segment added three new tier-1 OEM wins expected to ramp in Q2 2025.To improve profitability, Navitas announced a cost reduction plan targeting $2M in quarterly savings, including a 14% workforce reduction. The company forecasts Q4 2024 revenue between $18.0-20.0M with a non-GAAP gross margin of approximately 40%. Cash and cash equivalents stood at $98.6M as of September 30, 2024.
Navitas半導體報告2024年第三季度營業收入爲2170萬美元,略低於去年同期的2200萬美元,按照美國通用會計準則(GAAP)計算,運營虧損爲2900萬美元。該公司在氮化鎵移動快速充電器市場實現了創紀錄的銷售,並與英飛凌科技公司建立了戰略合作關係,以實現雙源供應能力。公司推出了一款新的低壓氮化鎵平台,針對48V人工智能數據中心、電動汽車和機器人應用,同時在多個領域擴大了影響力。IDC概念生產收入於第三季度開始產生,活躍客戶項目超過60個。電動汽車部門獲得六個新的設計勝利,移動部門新增三個預計在2025年第二季度 ramp 的一級OEM勝利。爲改善盈利能力,Navitas宣佈一項成本削減計劃,目標每季度節省200萬美元,包括減少14%的員工。公司預測2024年第四季度營業收入將在1800萬至2000萬美元之間,非GAAP毛利率約爲40%。截至2024年9月30日,現金及現金等價物爲9860萬美元。
Navitas半導體報告2024年第三季度營業收入爲2170萬美元,略低於去年同期的2200萬美元,按照美國通用會計準則(GAAP)計算,運營虧損爲2900萬美元。該公司在氮化鎵移動快速充電器市場實現了創紀錄的銷售,並與英飛凌科技公司建立了戰略合作關係,以實現雙源供應能力。公司推出了一款新的低壓氮化鎵平台,針對48V人工智能數據中心、電動汽車和機器人應用,同時在多個領域擴大了影響力。IDC概念生產收入於第三季度開始產生,活躍客戶項目超過60個。電動汽車部門獲得六個新的設計勝利,移動部門新增三個預計在2025年第二季度 ramp 的一級OEM勝利。爲改善盈利能力,Navitas宣佈一項成本削減計劃,目標每季度節省200萬美元,包括減少14%的員工。公司預測2024年第四季度營業收入將在1800萬至2000萬美元之間,非GAAP毛利率約爲40%。截至2024年9月30日,現金及現金等價物爲9860萬美元。
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