Navitas Semiconductor Q1 revenue rose 18% sequentially but declined year over year

Navitas Semiconductor

05/05/2026 21:48

Overview

US power semiconductor maker's Q1 revenue grew 18% sequentially, but decreased yr/yr

High-power markets drove growth, now representing a large majority of total revenue

GAAP loss from operations for Q1 was $27.8 million, compared to a loss of $25.3 million last year

Outlook

Navitas expects Q2 2026 revenue of $10.0 mln, plus or minus $0.5 mln

Company sees Q2 2026 non-GAAP gross margin at 39.25%, plus or minus 75 basis points

Navitas anticipates sequential revenue growth through remainder of 2026

Result Drivers

HIGH-POWER MARKETS - Revenue sequential growth and improved gross margin were driven by increased contribution from high-power markets, including AI data centers, grid and energy infrastructure, performance computing and industrial electrification

STRATEGIC SHIFT - Company continued to reduce reliance on mobile and consumer business, focusing on high-power markets which now represent a large majority of total revenue

CUSTOMER ENGAGEMENTS - Expanded customer engagements and order backlog contributed to growth in targeted high-power markets

Company press release: ID:nGNXx1RTF

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$8.60 mln
$8.17 mln (7 Analysts)
Q1 Net Income
-$33.79 mln
Q1 Income from Operations
-$27.77 mln
Q1 Operating Expenses
$31.003 mln
Q1 Pretax Profit
-$33.72 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the semiconductors peer group is "buy."

Wall Street's median 12-month price target for Navitas Semiconductor Corp is $9.50, about 40.3% below its May 4 closing price of $15.92

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)