Navitas Semiconductor Corp Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Navitas Semiconductor Q2 2026 Earnings Summary

Key Highlights: Navitas reported sequential revenue growth and continued progress on its "Navitas 2.0" transformation to a high-power focused company (GaN and high-voltage SiC), with mobile/low-end consumer revenue becoming insignificant. Growth is driven by AI infrastructure (data centers + grid/energy). Company raised $373M in equity, ending with $557M cash and no debt. Transformation is substantially complete, 1 quarter ahead of prior expectations.

Financial Performance (Q2 2026 vs Prior Periods)

  • Revenue: $10.5M, +22% sequentially from Q1 2026 ($8.6M); high-power markets +50%+ YoY. Mobile contribution declined both seq and YoY.
  • Gross Margin: 39.5% (non-GAAP), +50 bps sequentially and +100 bps YoY, due to favorable high-power mix and scale.
  • Operating Expenses: $15.5M (non-GAAP), vs $15.0M in Q1 2026 and $16.1M in Q2 2025; remained disciplined during transformation.
  • Operating Loss: $11.4M vs $11.7M in Q1 2026 and $10.6M in Q2 2025.
  • Loss per Share: $0.04 (non-GAAP), flat sequentially and improved from $0.05 in Q2 2025.
  • Balance Sheet: Cash $557M (up from $221M in Q1 due to equity raise); inventory $19.5M (up from $14.9M) for customer buffer/transition support.

Guidance and Outlook

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Operator : Hello, and thank you for standing by. My name is Lisa, and I will be your conference operator today. At this time, I would like to welcome everyone to the Navitas Semiconductor Second Quarter '26 Earnings. [Operator Instructions] I would now like to turn the call over to Brett Perry of Shelton Group Investor Relations. Please go ahead. Brett Perry : Good afternoon, and welcome to Navitas Semiconductor Second Quarter 2026 Financial Results Conference Call. Joining us today are Navitas's President and CEO, Chris Allexandre; and CFO, Tonya Stevens. I'd like to remind listeners that 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's 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 risks and uncertainties in the company's filings with the Securities and Exchange Commission, including Forms 10-K and 10-Q. In addition, any projections as to the company's future performance represent management's estimates as of today, July 27, 2026. Navitas assumes no obligation to update these projections in the future as market conditions may or may not change except to the extent required by applicable
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