Navitas Semiconductor Corp recently released its 10-Q report, providing a detailed insight into its financial condition and operations. The company, founded in 2014 and based in Torrance, California, designs and markets power semiconductors globally, specializing in gallium nitride power integrated circuits, silicon carbide power devices, and digital isolators for power conversion and charging. Its products are utilized in a wide range of applications, including mobile phones, laptops, data centers, solar inverters, and electric vehicles.
In the 10-Q report's "Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations," Navitas Semiconductor Corporation outlined various aspects of its business. The company operates through its wholly owned subsidiaries, including Navitas Semiconductor Limited and GeneSiC Semiconductor LLC, and has a fabless business model, which allows it to run operations with minimal capital expenditures. Navitas is focused on partnering with leading manufacturers and suppliers to address both mainstream and emerging applications. The company has formed relationships with numerous Tier 1 manufacturers and suppliers, gaining significant traction in mobile and consumer charging applications.
Navitas Semiconductor Corporation also discussed its recent financial activities, including entering into an Open Market Sale Agreement with Jefferies LLC, completing two ATM offerings referred to as ATM One and ATM Two, resulting in gross proceeds of approximately $100.0 million and offering-related costs of $3.3 million in total.
The report also detailed the company's results of operations for the three and six months ended June 30, 2025, compared to the same periods in 2024. Notably, revenue for the three months ended June 30, 2025, was $14.5 million, a decrease of 29% compared to the same period in 2024. Cost of revenues, research and development expense, selling, general and administrative expense, and other income (expense), net, were also analyzed in detail, providing a comprehensive overview of the company's financial performance during the period.
The market has reacted to these announcements by moving the company's shares 2.7% to a price of $8.175. If you want to know more, read the company's complete 10-Q report here.
