<span item_type="fundamental" item_id="0ba061438abf842e2fc6c667c81b8b7c" counter_id="ST/US/NVTS" env="prod"></span><span item_type="announcement" item_id="645112493186488705" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 8.598 M, beating the estimate of USD 8.183 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.15, missing the estimate of USD -0.0995.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -28.03 M.</p><p></p><h4>Segment Revenue</h4><p>Navitas Semiconductor Corporation’s total revenue for the first quarter of 2026 was $8.6 million, an 18% sequential increase from $7.3 million in the fourth quarter of 2025, but a decrease from $14.0 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span> High-power markets, including AI Data Centers, Grid and Energy Infrastructure, Performance Computing, and Industrial Electrification, represented a large majority of total revenue and grew approximately 35% year-over-year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span></p><h4>Operational Metrics</h4><h5>Gross Margin</h5><p>GAAP gross margin for the first quarter of 2026 was -9.3%, compared to -17.2% in the fourth quarter of 2025 and 9.1% in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span> Non-GAAP gross margin for the first quarter of 2026 was 39.0%, a 30 basis point sequential improvement from 38.7% in the prior quarter, and also an increase from 38.1% in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span></p><h5>Operating Profit/Loss</h5><p>GAAP loss from operations for the first quarter of 2026 was - $27.8 million, compared to a loss of - $41.4 million for the fourth quarter of 2025 and an operating loss of - $25.3 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span> Non-GAAP loss from operations for the first quarter of 2026 was - $11.7 million, compared to a loss of - $12.1 million for the prior quarter and a loss of - $11.8 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span></p><h5>Operating Expenses (GAAP)</h5><p>Research and development expenses were $14,567 thousand in Q1 2026, up from $12,668 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span> Selling, general and administrative expenses were $11,252 thousand in Q1 2026, down from $11,740 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span> Amortization of intangible assets remained constant at $4,734 thousand for both Q1 2026 and Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span> Restructuring expense was $450 thousand in Q1 2026, a decrease from $1,469 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span> Total operating expenses were $31,003 thousand in Q1 2026, compared to $30,611 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span></p><h5>Net Loss (GAAP)</h5><p>Net loss for the first quarter of 2026 was - $33,785 thousand, compared to - $16,829 thousand in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span></p><h4>Cash and Cash Equivalents</h4><p>Cash and cash equivalents totaled $221.0 million as of March 31, 2026, a decrease from $236.9 million as of December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span></p><h4>Unique Metrics</h4><p>Navitas Semiconductor Corporation is targeting a Serviceable Available Market (SAM) of $3.5 billion in 2030 for AI data center, energy and grid infrastructure, performance computing, and industrial electrification, growing at a 60%-plus CAGR.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span></p><h4>Outlook / Guidance</h4><p>For the second quarter of 2026, Navitas Semiconductor Corporation anticipates net revenues to increase to $10.0 million, plus or minus $0.5 million, representing over 16% sequential growth at the midpoint.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span> Non-GAAP gross margin is expected to be 39.25%, plus or minus 75 basis points, indicating a 25 basis point increase at the midpoint.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span> Non-GAAP operating expenses are projected to remain approximately flat sequentially, ranging between $14.5 million and $15.5 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1821769/000110465926055620/tm2613492d1_ex99-1.htm"></span></p>

NVTS

Navitas Semiconductor | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 8.598 M