Navitas Semiconductor Corp SEC 10-Q Report

Navitas Semiconductor Corp, a leading provider of next-generation power semiconductors, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting the challenges and strategic initiatives undertaken in a dynamic market environment.

Financial Highlights

Net Revenues: $28.5 million, a decrease of 35% compared to the same period in 2024, primarily due to declines in the mobile and industrial markets.

Cost of Revenues: $20.9 million, a reduction of 20% compared to the same period in 2024, driven by a decline in sales and changes in product mix.

Loss from Operations: $(46.96) million, an improvement of 25% compared to the same period in 2024, reflecting cost reductions in research and development and selling, general, and administrative expenses.

Net Loss: $(65.9) million, an increase of 153% compared to the same period in 2024, primarily due to a $19.9 million loss from the change in fair value of earn-out liabilities.

Basic Net Loss Per Share: $(0.34), compared to $(0.14) in the same period in 2024, reflecting the increased net loss.

Business Highlights

Revenue Segments: The company's revenue is primarily derived from the sale of semiconductors through specialized distributors to OEMs, their suppliers, and other end customers. The revenue is diversified across the United States, Europe, and Asia, with significant contributions from China and the United States.

Geographical Performance: For the three and six months ended June 30, 2025, China accounted for 62% and 52% of revenue, respectively, while the United States contributed 22% and 26%. The decline in sales was attributed to the downturn in the industrial China markets.

Sales Units: The company operates a fabless business model, which allows it to run with minimal capital expenditures. This model involves working with third parties for manufacturing, assembly, and testing of designs.

New Product Launches: The company continues to focus on developing next-generation power semiconductors, including GaN power ICs, SiC devices, and associated high-speed silicon system controllers.

Future Outlook: The company expects to continue incurring net operating losses and negative cash flows from operations. It anticipates that research and development expenses, general and administrative expenses, and capital expenditures will continue to increase as it expands operations, product offerings, and its end customer base.

SEC Filing: Navitas Semiconductor Corp [ NVTS ] - 10-Q - Aug. 04, 2025