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Navitas Semiconductor | 10-Q: Q3 2024 Earnings Report

Navitas Semiconductor | 10-Q: Q3 2024 Earnings Report

納微半導體 | 10-Q:2024財年三季報
美股SEC公告 ·  2024/11/06 05:23

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Navitas Semiconductor reported Q3 2024 revenue of $21.7 million, slightly down 1% from $22.0 million in Q3 2023, with gross margin improvement as cost of revenues decreased 12% to $13.1 million. The company continued significant R&D investment at $17.8 million, representing 82% of revenue, focused on expanding its GaN and SiC power semiconductor portfolio.The company maintained a strong balance sheet with $98.6 million in cash and cash equivalents as of September 30, 2024. Operating loss was $29.0 million, while net loss reached $18.7 million after including a $9.2 million gain from change in earnout liability fair value. Research and development expenses increased 8% year-over-year as the company expanded development in EV, enterprise and solar markets.Management announced a cost-reduction plan in October 2024, including a 14% workforce reduction to streamline operations and accelerate path to profitability. The company continues to focus on mobile and consumer charging applications, with products now in mass production with 10 of the top 10 worldwide mobile OEMs across smartphones and laptops.
Navitas Semiconductor reported Q3 2024 revenue of $21.7 million, slightly down 1% from $22.0 million in Q3 2023, with gross margin improvement as cost of revenues decreased 12% to $13.1 million. The company continued significant R&D investment at $17.8 million, representing 82% of revenue, focused on expanding its GaN and SiC power semiconductor portfolio.The company maintained a strong balance sheet with $98.6 million in cash and cash equivalents as of September 30, 2024. Operating loss was $29.0 million, while net loss reached $18.7 million after including a $9.2 million gain from change in earnout liability fair value. Research and development expenses increased 8% year-over-year as the company expanded development in EV, enterprise and solar markets.Management announced a cost-reduction plan in October 2024, including a 14% workforce reduction to streamline operations and accelerate path to profitability. The company continues to focus on mobile and consumer charging applications, with products now in mass production with 10 of the top 10 worldwide mobile OEMs across smartphones and laptops.
Navitas半導體報告2024年第三季度營業收入爲2170萬美元,比2023年第三季度的2200萬美元略微下降1%,毛利率有所改善,因爲營業成本減少了12%,降至1310萬美元。公司在研發方面持續進行重大投資,金額爲1780萬美元,佔營業收入的82%,重點擴展其氮化鎵(GaN)和碳化硅(SiC)功率半導體產品組合。截至2024年9月30日,公司保持了強勁的資產負債表,擁有9860萬美元的現金及現金等價物。營業虧損爲2900萬美元,而淨虧損在包含920萬美元的收益(來自收益義務公允價值變動)後達到1870萬美元。研發費用同比增加8%,因爲公司在電動汽車、企業和太陽能市場擴展了開發。管理層在2024年10月宣佈了一項成本削減計劃,包括14%的裁員,以精簡操作並加快盈利的路徑。公司繼續關注移動和消費充電應用,產品現已在全球前十的智能手機和筆記本電腦原始設備製造商(OEM)中批量生產。
Navitas半導體報告2024年第三季度營業收入爲2170萬美元,比2023年第三季度的2200萬美元略微下降1%,毛利率有所改善,因爲營業成本減少了12%,降至1310萬美元。公司在研發方面持續進行重大投資,金額爲1780萬美元,佔營業收入的82%,重點擴展其氮化鎵(GaN)和碳化硅(SiC)功率半導體產品組合。截至2024年9月30日,公司保持了強勁的資產負債表,擁有9860萬美元的現金及現金等價物。營業虧損爲2900萬美元,而淨虧損在包含920萬美元的收益(來自收益義務公允價值變動)後達到1870萬美元。研發費用同比增加8%,因爲公司在電動汽車、企業和太陽能市場擴展了開發。管理層在2024年10月宣佈了一項成本削減計劃,包括14%的裁員,以精簡操作並加快盈利的路徑。公司繼續關注移動和消費充電應用,產品現已在全球前十的智能手機和筆記本電腦原始設備製造商(OEM)中批量生產。
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