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FINANCIAL RESULTS / LATEST NEWS4 Min Read
CVD Equipment Corporation announced its financial results for the fourth quarter and fiscal year ended December 31, 2024.
Manny Lakios, President and CEO of CVD Equipment Corporation, commented, “CVD’s fourth quarter 2024 revenue was $7.4 million, representing an 80.3% increase from the prior year quarter. Our backlog at December 31, 2024 was $19.4 million, meaningfully higher than our 2023 year-end backlog of $18.4 million.“
“During 2024 we continue to see an ongoing recovery of our aerospace and defense market. As previously announced, in early November we received a $3.5 million follow on order for our CVI 3500™ system from an existing aerospace customer.”
“The silicon carbide market has remained challenging due to overcapacity and the global decline in wafer prices,” continued Mr. Lakios. “The customer for our first PVT200™ system, which shipped in the second half of 2024, is continuing to evaluate the performance of our system for possible additional orders. We continue to support our installed base of PVT150™ systems and pursue additional PVT150™ and PVT200™ orders.”
Mr. Lakios added, “While the fourth quarter represents the second consecutive quarter of positive net income, we expect our order and revenue levels to continue to fluctuate given the nature of the emerging growth markets we serve. In addition, the current geopolitical environment, including the possible imposition of tariffs that may affect our supply chain and costs of components and materials, presents us with new challenges in fiscal 2025 and beyond. We are staying the course on our strategic efforts to build critical customer relationships, while carefully managing our expenses in order to achieve our goal of long-term profitability and positive cash flow, while simultaneously focusing on growth and return on investment.”
Fourth Quarter 2024 Financial Performance
- Revenue of $7.4 million, up $4.1 million or 80.3% year over year due to higher system revenue by our CVD Equipment segment and an increase in gas delivery system revenue by our SDC segment.
- During the quarter, we recognized an additional $0.3 million non-cash charge to reduce our PVT150™ inventory to net realizable value based on changes in the market for equipment for 150 mm SiC wafers.
- Our gross profit margin percentage improved due to changes in contract mix but was offset by the inventory charge. The prior year quarter was impacted by significant cost overruns on one contract.
- Operating income of $35,000 as compared to an operating loss of $2.5 million in the prior year fourth quarter.
- Net income of $132,000 or $0.02 basic and diluted share, compared to a net loss of $2.3 million or $0.33 per basic and diluted share during the prior year fourth quarter.
- Cash and cash equivalents of $12.6 million as of December 31, 2024, as compared to $14.0 million as of December 31, 2023.
Full Year 2024 Financial Performance
- Revenue of $26.9 million, up $2.8 million or 11.5% year over year primarily due to increases in revenues from aerospace contracts in progress and our SDC segment. Revenue for 2024 includes $0.8 million of final sales by our MesoScribe segment which closed its operations in 2024 as previously disclosed.
- Our gross profit margin percentage was 23.6% in 2024 as compared to 21.0% in the prior year due to higher revenues as well as improved margins on CVD contracts in process.
- During the fiscal year, we recognized a $1.3 million non-cash charge to reduce our PVT150™ inventory to net realizable value.
- Our gross profit margin percentage improved due to changes in contract mix but was offset by the inventory charge.
- The Company recognized total gains on the sales of equipment of $0.7 million, principally by our MesoScribe subsidiary.
- Operating loss of $2.4 million.
- Net loss of $1.9 million or $0.28 basic and diluted share, compared to a net loss of $4.2 million or $0.62 per basic and diluted share in the prior year.
Fourth Quarter 2024 Operational Performance
- Orders for the fourth quarter were $7.1 million driven by continued demand from the aerospace sector in our CVD Equipment segment and for gas delivery equipment in our SDC segment.
- One of the orders received in the fourth quarter was for a $3.5 million system order in the aerospace sector that will be delivered over the next 12 months.
Full Year 2024 Operational Performance
- Booking of new orders from customers was $28.1 million for the fiscal year, representing an increase of approximately 8.9% compared to 2023 bookings of $25.8 million. The increase in bookings of $2.3 million was related to an increase in aerospace and industrial orders.
- Backlog as of December 31, 2024, of $19.4 million, an increase from $1.0 million from the prior year end.
- Continued investments in both research and development and sales and marketing, focused on our three key strategic markets – aerospace & defense, microelectronics / power electronics and EV battery materials / energy storage.
Original – CVD Equipment
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LATEST NEWS2 Min Read
Innoscience (Suzhou) Technology Holding Co., Ltd. announced that it achieved a decisive victory in the patent dispute initiated by Efficient Power Conversion Corporation (“EPC”), by securing a final decision from the U.S. Patent and Trademark Office (“USPTO”) invalidating the claims of the only patent remaining in the dispute launched by EPC in the US International Trade Commission (“ITC”).
On March 18, 2025, the USPTO issued the final decision finding all challenged claims of EPC’s U.S. Patent No.8,350,294 (“the ’294 patent”) are invalid and should be cancelled. This decision removes the entire foundation of EPC’s false patent infringement claim against Innoscience and marks that Innoscience has achieved a complete victory in the two-year long meritless patent war launched by EPC.
In May 2023, EPC launched a lawsuit against Innoscience at the ITC alleging infringement of EPC’s ’294 patent and three other EPC patents. During the litigation, EPC withdrew two of the four patents, and a third patent was found by the ITC to not be infringed. The ITC, however, determined that partial asserted claims of the ’294 patent are valid and infringed.
Innoscience disagrees with the ITC’s ruling on the validity and infringement of the ’294 patent and has appealed it to the U.S. Court of Appeals for the Federal Circuit on January 31, 2025. Innoscience believes that the ITC made errors in its ruling of the ’294 patent and thus should be overturned.
The latest final decision by the USPTO shows that the ITC’s determination of the ’294 patent is flawed. It is a vindication that EPC’s allegations against Innoscience are completely baseless. In its final decision, the USPTO agreed that all the asserted claims of the ’294 patent are invalid because they merely pertain to old gallium nitride (“GaN”) technology that had existed in the prior art for a long time before the patents were filed.
With this final win at the USPTO, Innoscience has knocked out the only remaining patent in the ITC case and proved that EPC’s allegations are completely unfounded. Innoscience is ready to dust off the discord fabricated by EPC and focus its effort on developing and providing top-notch GaN-based power solutions for its customers worldwide.
Original – Innoscience Technology
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GaN / LATEST NEWS / PRODUCT & TECHNOLOGY / WBG
Nexperia Expands GaN FET Portfolio to Cover Wider Power Ranges in Low- and High-Voltage Applications
2 Min ReadNexperia announced the addition of 12 new devices to its continuously expanding e-mode GaN FET portfolio. This latest release is intended to address the growing demand for higher efficiency and more compact systems. The new low and high-voltage e-mode GaN FETs address multiple markets including consumer, industrial, server/computing and telecommunications, with a particular focus on supporting high-voltage, low to mid-power and low-voltage, low to high-power use cases.
Since introducing e-mode GaN FETs in 2023, Nexperia remains the only supplier in the industry to offer both cascode or d-mode and e-mode devices, providing designers with convenience when faced with variable challenges during the design process.
The latest additions to Nexperia’s e-mode GaN FET portfolio include new low voltage 40 V bi-directional devices (RDSon<12 mΩ) to support overvoltage protection (OVP), load switching, and low-voltage applications including battery management systems (BMS) in mobile devices, and laptop computers.
Also featuring in this release are 100 V and 150 V devices (RDSon<7 mΩ) suitable for synchronous rectification (SR) power supplies in consumer devices, DC-DC converters in datacomms and telecoms equipment, photovoltaic micro-inverters, Class-D audio amplifiers and motor control systems in e-bikes, forklifts and light electric vehicles (LEVs). The new higher voltage range features 700 V devices (RDSon>140 mΩ) to support LED drivers and power factor correction (PFC) applications, and 650 V devices (RDSon>350 mΩ) suitable for use in AC/DC converters.
The superior switching performance of Nexperia’s e-mode GaN FET technology is due to their exceptionally low QG and QOSS values. These new devices offer industry-leading figures of merit (FOM), making them a top choice for high-efficiency power solutions.
Original – Nexperia
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LATEST NEWS / PRODUCT & TECHNOLOGY2 Min Read
Taiwan Semiconductor has expanded its PerFET family of power MOSFETs with the addition of 80V and 100V versions. Based on TSC’s proprietary PerFET device structures and processes, the new 80V/100V N-channel power MOSFETs offer a best-in-class figure of merit (FOM: RDS(on)*Q = 184) and an industry-leading 175⁰C avalanche rating. The AEC-Q-qualified devices are ideal for automotive power applications—and myriad non-automotive commercial and industrial power applications that demand efficient, reliable performance.
PerFET devices are housed in TSC-designed, industry-standard-size (5mm x 6mm) PDFN56U (single/dual) packages whose wettable flank improves solder joint reliability and AOI accuracy during PCB assembly. The PerFETs’ low on-resistance (RDS(on)) reduces conduction losses and their very low gate charge (Qg)—optimized for high-speed communication applications—offers the most efficient solution available for 48V input DC/DC converters.
Six devices comprise the new 100V PerFET series, with single-output current ratings of 50-100A and dual-outputs rated at 31A. Target applications are 48V automotive, SMPS, server and telecom, DC-DC converters, motor drives and polarity switches. The new 80V PerFET series also offers six devices. Single-output models feature current ratings of 33-110A and 31-33A for dual-output models. In addition to those targeted by the 100V series, 80V PerFETs are suitable for ideal diodes, USB-PD and type-C charger/adapters, UPS, solar inverters, LED lighting and telecommunications power applications.
“Because our PerFET power MOSFETs are built to automotive standards, design engineers can use them to achieve automotive-grade reliability in competitively priced, non-automotive applications—while eliminating proof-of-qualification paperwork necessary when using automotive parts,” said Sam Wang, vice president, TSC Products. “By adding 80- and 100-volt devices to our PerFET family, designers have even more options for increasing efficiency and reliability in their power switching applications.”
Original – Taiwan Semiconductor
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GaN / LATEST NEWS / PRODUCT & TECHNOLOGY / WBG2 Min Read
Efficient Power Conversion introduced the EPC2367, a next-generation 100 V eGaN® FET that delivers superior performance, higher efficiency, and lower system costs for power conversion applications.
Designed for 48 V intermediate voltage bus architectures, the EPC2367 significantly advances the performance of power systems by reducing power loss, increasing efficiency, and enabling more compact and cost-effective designs. This new device sets a benchmark in performance compared to both previous-generation GaN and traditional silicon MOSFET solutions.
Key Advantages of the EPC2367
- Ultra-Low On-Resistance (RDS(on)): 1.2 mΩ, a ~ 30% improvement over previous generation best-in-class devices
- Smaller Footprint: 3.3 mm × 3.3 mm QFN package, reducing PCB space and enhancing thermal performance
- Best-in-Class Switching Figures of Merit (FoM): EPC2367 outperforms competitors in hard and soft-switching applications, delivering superior efficiency and lower power losses
- Enhanced Thermal Performance: Operates cooler under load, improving system reliability and enabling higher power densities
- Outstanding Temperature Cycling Reliability: 4× the thermal cycling capability compared to previous GaN generations, ensuring robust long-term operation
Superior In-Circuit Performance
The EPC2367 has been rigorously tested in hard and soft-switching applications. Performance results demonstrate higher efficiency across the full power range, with significant power loss reductions. In a 1 MHz, 1.25 kW system, EPC2367 reduces power losses while achieving 1.25× the output power compared to previous GaN and Si MOSFET alternatives.
The EPC2367 advances GaN technology with ultra-low on-resistance and superior thermal cycling, enabling engineers to boost efficiency and power density in AI servers, robotics, and automotive systems,
said Alex Lidow, EPC CEO and co-founder.The EPC90164 development board is a half bridge featuring the EPC2367 GaN FET. It is designed for 80 V maximum operating voltage and 35 A maximum output current. The purpose of this board is to simplify the evaluation process of power systems designers to speed their product’s time to market. This 2” x 2” (50.8 mm x 50.8 mm) board is designed for optimal switching performance and contains all critical components for easy evaluation.
Original – Efficient Power Conversion
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GaN / LATEST NEWS / SiC / WBG3 Min Read
Navitas Semiconductor has announced that its portfolio of 3.2kW, 4.5kW, and 8.5 kW AI data center power supply unit (PSU) designs exceed the new 80 PLUS ‘Ruby’ certification, focused on the highest level of efficiency for redundant server data center PSUs.
The 80 PLUS certification program assesses and certifies the energy efficiency of internal PSUs in computers and servers. The ‘Ruby’ certification was announced in January 2025 by 80 PLUS’s administrating body, CLEAResult, following its endorsement by the Green Grid consortium.
‘Ruby’ is the most rigorous PSU efficiency standard since the ‘Titanium’ certification was released 14 years ago. In comparison, Ruby sets an additional 1% system efficiency across all load conditions, except at 50% load (which requires a 0.5% increase), to achieve a new benchmark of 96.5% efficiency.
This new standard offers the industry a clear path to enhanced energy efficiency, helping data centers address the evolving needs of cloud storage, commercial sectors, and the increasing pressure on the grid from AI computing. For example, every Ruby-certified 3.2 kW CRPS185 PSU can save up to 420 kilowatt-hours during a 3-year lifetime. That is the equivalent of over 400 kg of CO2 emissions.
Navitas exceeds both Ruby and Titanium certifications on their portfolio of AI data center PSU reference designs, ranging from 3.2 kW to 8.5 kW, and are powered by high-power GaNSafe™ ICs and GeneSiC™ Gen 3 ‘Fast’ SiC MOSFETs.
Navitas is the established leader in AI data center solutions enabled by GaN and SiC technology. In August 2023, they introduced a high-speed, high-efficiency 3.2 kW CRPS, achieving a 40% smaller size than best-in-class, legacy silicon solutions for power-hungry AI and Edge computing. This was followed by the world’s highest power density 4.5 kW CRPS, achieving a ground-breaking 137 W/in3, and efficiency of over 97%.
In November 2024, Navitas released the world’s first 8.5 kW AI data center power supply powered by GaN and SiC that could meet 98% efficiency, complying with the Open Compute Project (OCP) and Open Rack v3 (ORv3) specifications. Additionally, Navitas created IntelliWeave, an innovative patented new digital control technique, that when combined with high-power GaNSafe and Gen 3-Fast SiC MOSFETs, enables PFC peak efficiencies to 99.3% and reduces power losses by 30% reduction compared to existing solutions.
“Compared with Titanium, Ruby cuts the allowable PSU losses significantly and will be critical in enabling the data center industry to reduce its carbon footprint and cut operational costs,” said Gene Sheridan, CEO and co-founder of Navitas. “With the industry set to consume 1,000 TWh annually by next year1, every percentage point improvement in efficiency represents a reduction of 10 TWh, or approximately 3.5 million tons of CO22. Advances in our GaNFast and GeneSiC products enable these targets to be met and significantly exceeded.”
Navitas’ AI Power Roadmap and 80 PLUS Ruby-compliant demos can be viewed at the ‘Planet Navitas’ booth #1107 during the APEC 2025 conference, which takes place at Atlanta’s Georgia World Congress Center from March 16 to 20.
Original – Navitas Semiconductor