Navitas Semiconductor Corp Q1 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Navitas Semiconductor Q1 2026 Earnings Summary

Key Financial Results

  • Revenue: $8.6 million (GAAP), up 18% sequentially from $7.3 million in Q4 2025; down from $14.0 million in Q1 2025. Return to sequential growth driven by high-power markets (now large majority of revenue).
  • High-Power Revenue: Grew ~35% year-over-year vs. Q1 2025; all 4 high-power end markets (AI data center, grid/energy infrastructure, performance computing, industrial electrification) increased sequentially. Mobile/consumer contribution declining and expected to be insignificant by year-end 2026.
  • Gross Margin (non-GAAP): 39.0%, up 30 basis points from 38.7% in Q4 2025 and 38.1% in Q1 2025. Improvement due to favorable revenue mix shift toward higher-value high-power products.
  • Operating Expenses (non-GAAP): $15.0 million, flat vs. $14.9 million in Q4 2025; down from $17.2 million in Q1 2025. Reflects disciplined spending with increased R&D focus.
  • Operating Loss (non-GAAP): $11.7 million, improved from $12.1 million in Q4 2025 and $11.8 million in Q1 2025.
  • EPS (diluted, non-GAAP): Loss of $0.04 (based on ~230 million shares), improved from $0.05 loss in Q4 2025.
Professional feature The full AI summary covers key highlights, financial performance and analyst Q&A.
Operator: Thank you for standing by. My name is Tina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Navitas Semiconductor Q1 2026 Earnings Call. [Operator Instructions]. It is now my pleasure to turn the call over to Leanne Sievers. You may begin. Leanne Sievers: Good afternoon, and welcome to Navitas Semiconductor's First Quarter 2026 Financial Results Conference Call. Joining us today are Navitas President and CEO, Chris Allexandre; and CFO, Tonya Stevens. I'd like to remind our listeners that the results announced today are preliminary as they are subject to the company finalizing its closing procedures and customary quarterly review by the company's independent registered public accounting firm. As such, these results are unaudited and subject to revision until the company files its Form 10-Q for its quarter ended March 31, 2026. In addition, management's prepared remarks contain forward-looking statements, which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. Therefore, the company claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ from those discussed today, and therefore, we refer you to a more detailed discussion of the risks and uncertainties in the company's filings with the Securities and Exchange Commission,
Professional feature The full transcript includes every speaker turn.