Navitas Semiconductor Corp Q4 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

Date: February 24, 2026 | Participants: CEO Chris Allexandre, CFO Todd Glickman

Key Financial Highlights (Q4 2025)

  • Revenue: $7.3 million (high end of guidance), down from $10.1 million in Q3 2025 and reflecting strategic deprioritization of low-power mobile/consumer business. Full-year 2025 revenue: $45.9 million vs. $83.3 million in 2024.
  • Revenue Mix Milestone: High-power markets represented the majority of revenue for the first time in company history. Mobile declined to less than 25% of Q4 revenue (from majority in Q3); expected to become insignificant by end of 2026.
  • Gross Margin: 38.7% (flat sequentially vs. Q3 2025). Full-year 2025 gross margin: 38.4% vs. 40.4% in 2024.
  • Operating Expenses: $14.9 million (non-GAAP), down from $15.4 million in Q3 2025 due to 19% workforce reduction and realignment. Full-year 2025 OpEx: $63.6 million vs. $83.4 million in 2024.
  • Operating Loss: $12.1 million (non-GAAP) in Q4 vs. $11.5 million in Q3 2025. Full-year 2025 operating loss: $46 million vs. $49.7 million in 2024.
  • Balance Sheet: Cash and equivalents $237 million (includes ~$96 million net proceeds from November 2025 private placement). No debt. Accounts receivable $3.6 million (DSO 45 days); inventory $13.3 million.
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Operator: Good afternoon, and welcome to Navitas Semiconductor's Fourth Quarter 2025 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded today, Tuesday, February 24, 2026. I would now like to turn the conference over to Brett Perry of Shelton Group Investor Relations. Brett, please go ahead. Brett Perry: Thank you, operator. Good afternoon, and welcome to Navitas Semiconductor's Fourth Quarter 2025 Financial Results Conference Call. Joining us on today's call are Navitas President and CEO, Chris Allexandre; CFO, Todd Glickman. 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-K for its year ended December 31, 2025. 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 uncer
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