Revenue: As of FY2026 Q2, the actual value is USD 10.53 M, beating the estimate of USD 9.968 M.

EPS: As of FY2026 Q2, the actual value is USD -0.95, missing the estimate of USD -0.11.

EBIT: As of FY2026 Q2, the actual value is USD -27.46 M.

Revenue

Navitas Semiconductor Corporation reported total revenue of $10.5 million in the second quarter of 2026, which represents a 22% sequential growth from $8.6 million in the first quarter of 2026, but a decrease from $14.5 million in the second quarter of 2025. GAAP net revenues for the three months ended June 30, 2026, were $10,529. High-power markets experienced more than 50% year-over-year growth during this period.

Gross Margin

GAAP gross margin for the second quarter of 2026 was 0.4%, an improvement from -9.3% in the first quarter of 2026 and -11.8% in the second quarter of 2025. GAAP gross profit was $41. Non-GAAP gross margin was 39.5% for the quarter, an increase from 39.0% in the prior quarter and 38.5% in the second quarter of 2025, reflecting a 50 basis point expansion sequentially.

Loss from Operations

GAAP loss from operations in the second quarter of 2026 was - $27.2 million, compared to a loss of - $27.8 million in the first quarter of 2026 and - $21.7 million in the second quarter of 2025. Non-GAAP loss from operations was - $11.4 million, an improvement from - $11.7 million in the prior quarter, but higher than the - $10.6 million loss in the second quarter of 2025.

Operating Expenses

GAAP operating expenses were $31,268. Non-GAAP operating expenses totaled $15.5 million in Q2 2026, showing a 3% sequential growth.

Net Loss

GAAP net loss for the second quarter of 2026 was - $228.2 million, which included a non-cash charge of - $203.1 million from the final remeasurement of earnout liabilities. This compares to a net loss of - $33.8 million in the first quarter of 2026 and - $49.1 million in the second quarter of 2025. On a non-GAAP basis, net loss was - $9.3 million, compared to - $9.8 million in the prior quarter and - $9.8 million in the second quarter of 2025.

Cash and Cash Equivalents

Cash and cash equivalents totaled $557.4 million as of June 30, 2026, a significant increase from $236.9 million as of December 31, 2025. The company held $557 million in cash as of Q2 2026.

Operational Metrics

Navitas Semiconductor Corporation reported an expanding backlog and record-level book-to-bill. The company introduced an Isolated TO product family designed for 1.2 kV to 3.3 kV SiC MOSFETs and expanded its SiC portfolio with a new 1.2 kV JFET product line, targeting AI data centers, solid-state transformer, and energy grid infrastructure applications. These new products are estimated to represent an incremental $1 billion serviceable addressable market. Collaboration with the NVIDIA MGX™ Ecosystem deepened to support 800 V DC rack architectures for next-generation AI data centers.

Third Quarter 2026 Business Outlook

Navitas Semiconductor Corporation expects net revenues for the third quarter of 2026 to be approximately $13.5 million, plus or minus $0.5 million, representing a 28% sequential growth and a return to year-over-year growth. Non-GAAP gross margin is projected to be 39.7%, plus or minus 100 basis points, indicating a 20 basis point increase at the midpoint, while non-GAAP operating expenses are anticipated to range between $15.5 million and $17.5 million. The company anticipates achieving mid-single-digit revenue growth for the full year, driven by the strategic shift to high-power markets and a substantial exit from the mobile market. Navitas Semiconductor Corporation forecasts Q3 2026 revenue to be between $13.0 million and $14.0 million, projecting approximately 28% sequential growth at the midpoint. Gross margins are expected to range from 38.7% to 40.7% for Q3 2026, indicating a 0.2% sequential expansion at the midpoint, and operating expenses are guided to be between $15.5 million and $17.5 million for Q3 2026, with a projected 6.5% sequential growth at the midpoint. The company anticipates continued sequential revenue growth through the rest of 2026, driven by scaling in AI Infrastructure and other high-power markets, with full-year 2026 year-over-year revenue growth expected in the mid-single digits. The company projects gross margin expansion due to a favorable product mix and scale, alongside a strengthened cash position and focused operating expense investment aiming for profitability. Key strategic initiatives include the launch of a SiC 1200V JFET product line in early 2027 and customer sampling for 8” GaN ramp before year-end 2026.