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Navitas Semiconductor announced its participation in the forthcoming 2024 Asia Charging Expo (ACE) in Shenzhen, China, from March 20th to 22nd, 2024. Visitors will explore the latest advances in GaN and SiC toward a fully-electrified “Planet Navitas” and the transition from fossil fuels.
Navitas will introduce the latest GaNFast™ and GeneSiC™ products to the audience in China for the first time, including: GaNSense™ half-bridge power ICs with application-specific features and higher power ratings, Gen-3 Fast SiC power FETs for high-power and higher-speed performance, and the world’s most protected GaN power devices – GaNSafe™.
Teaming up with UGREEN, Navitas will showcase a variety of UGREEN fast chargers featuring GaNFast power ICs, including the adorable and popular 30W and 65W Nexode Robot chargers, 100W Nexode Magsafe Charger Stand, and high-power 300W Nexode 5-port Desktop Charging Station. Many more GaNFast™ chargers will be displayed for visitors to experience the lightning speed of GaNFast charging.
Ye Hu, Navitas’ Technical Marketing Manager, will deliver a keynote presentation titled “A New Chapter in GaN: Navitas’ Integrated Drive and Loss-less Current Sensing GaNSense™ Half-bridge Solution” as part of the exposition’s World GaN Conference on March 22nd.
ACE 2024 will be held at Hall 6, Futian Convention and Exhibition Center, Shenzhen, China from March 20th to 22nd. Visitors to “Planet Navitas” (booth B57-B60) will meet experienced Navitas engineers to explore the power of next-gen power semiconductors for leading-edge applications. Navitas sales and distribution partners will also provide on-site support.
“The Asia Charging Expo is a critical event in the power electronics industry – gathering key experts from mobile, EV and industrial companies – and we are delighted to be part of it again to present our latest GaN and SiC technology,” said Charles Zha, VP and GM of Navitas China. “Our latest, advanced GaNFast and GeneSiC technologies bring revolutionary fast-charging capabilities to industry-leading Chinese customers.”
Original – Navitas Semiconductor
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Navitas Semiconductor announced their AI data center technology roadmap for up to 3x power increase to support similar exponential growth in AI power demands expected in just the next 12-18 months.
Traditional CPUs require typically only 300W and the data center ac/dc power supplies would typically power the equivalent of 10 of these or 3,000W (3kW). High-performance AI processors like NVIDIA’s ‘Grace Hopper’ H100 are already demanding 700W each today, with next-gen ‘Blackwell’ B100 & B200 chips anticipated to increase to 1,000W or more by next year.
To meet this exponential power increase, Navitas is developing server power platforms which rapidly increase from 3kW to up to 10kW. In August 2023, Navitas introduced a 3.2kW data center power platform utilizing latest GaN technology enabling over 100W/in3 and over 96.5% efficiency. Now, Navitas is releasing a 4.5kW platform enabled by a combination of GaN and SiC to push densities over 130W/in3 and efficiencies over 97%. These two platforms have already generated significant market interest with over 20 data center customer projects in development expected to drive millions in GaN or SiC revenues starting this year.
Today, Navitas also announces its plans to introduce an 8-10kW power platform by the end of 2024 to support 2025 AI power requirements. The platform will utilize newer GaN and SiC technologies and further advances in architecture to set all-new industry standards in power density, efficiency and time-to-market. Navitas is already engaged with major data-center customers, with full platform launch anticipated in Q4 ’24, completing this 3x increase in power demands in only 12-18 months.
Navitas’ unique data-center design center is creating these system designs to address the dramatic increases in AI data center power requirements, and assist customers to deploy platforms quickly and effectively to meet the accelerated time-to-market demands of rapid AI advances. System designs include complete design collateral with fully-tested hardware, schematics, bill-of-materials, layout, simulation and hardware test results to maximize first-time-right designs and fast revenue generation.
“The rapid development and deployment of artificial intelligence (AI) into global data centers has created a dramatic and unexpected power challenge for our entire industry,” noted Gene Sheridan, Navitas’ CEO and Co-Founder. “Our investment in leading-edge GaN and SiC technologies, combined with our unique data-center design center capabilities, have positioned us well. Our team has really stepped up to the challenge, with a 3x power increase in less than 18 months.”
Original – Navitas Semiconductor
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Navitas Semiconductor Corporation announced unaudited financial results for the fourth quarter and full year ended December 31, 2023.
“I am pleased to announce a record fourth quarter that caps off a year of more than doubling revenue for Navitas as we demonstrated strength across multiple markets,” said Gene Sheridan, CEO and co-founder. “While we are not immune to first half 2024 market headwinds, we see revenue growth accelerating in the second half based on our strong customer pipeline including major new wins in AI data centers, home appliances, solar inverters and a major satellite internet roll-out – all of which positions Navitas for strong growth in 2024 and beyond.”
4Q23 Financial Highlights
- Revenue: Total revenue grew to $26.1 million in the fourth quarter of 2023, a 111% increase from $12.3 million in the fourth quarter of 2022 and a 19% increase from $22.0 million in the third quarter of 2023.
- Gross Margin: GAAP gross margin for the fourth quarter of 2023 was 42.2%, compared to 40.6% in the fourth quarter of 2022 and 32.3% for the third quarter of 2023. Non-GAAP gross margin for the fourth quarter of 2023 was 42.2% compared to 40.6% for the fourth quarter of 2022 and 42.1% for the third quarter of 2023.
- Loss from Operations: GAAP loss from operations for the quarter was $26.8 million, compared to a loss of $31.2 million for the fourth quarter of 2022 and a loss of $28.6 million for the third quarter of 2023. On a non-GAAP basis, loss from operations for the quarter was $9.7 million compared to a loss of $12.4 million for the fourth quarter of 2022 and a loss of $8.7 million for the third quarter of 2023.
- Cash: Cash and cash equivalents were $152.8 million as of December 31, 2023.
FY 2023 Financial Highlights
- Revenue: Total revenue grew to $79.5 million in 2023, a 109% increase from $37.9 million in 2022.
- Gross Margin: GAAP gross margin for 2023 was 39.1%, compared to 31.5% in 2022. Non-GAAP gross margin for 2023 was 41.8% compared to 40.8% for 2022.
- Loss from Operations: GAAP loss from operations for the year was $118.1 million, compared to a loss of $123.6 million for 2022. On a non-GAAP basis, loss from operations for the year was $40.3 million compared to a loss of $41.2 million for 2022.
Market, Customer and Technology Highlights:
- Electric Vehicle: Introduction of new GaNSafe technology plus new Gen-3 Fast silicon carbide is fueling demand for EV on-board and roadside chargers. SiC-based on-board chargers are in or moving to production this year with customers including top EV brands such as Zeekr, Volvo and Smart. Announced joint design center with Shinry – one of the top EV on-board charger suppliers for Hyundai, BYD, Honda, Geely and others.
- Solar/Energy Storage: Displacement of silicon with GaNSafe and Gen 3 Fast SiC technologies continued with significant developments in 3 of the top 5 US solar OEMs, and the majority of the world’s top 10 solar manufacturers. SiC is shipping into this market today and GaN adoption is expected to ramp in late 2024.
- Home Appliance / Industrial: Major new tier 1 home appliance win will drive additional revenues in late ‘24 – Navitas now engaged with 7 of the world’s top 10 home appliance OEMs. Customer designs are in process at 2 of the top 3 global leaders in industrial pumps and a top 3 global leader in heat pumps.
- Datacenter: New GaNSafe and Gen 3 Fast SiC and Navitas’ dedicated design center is now achieving an unprecedented 4.5 kW, more than double the power density of legacy silicon solutions, to deliver accelerating power demands of AI data centers. Over 20 customer designs are expected to ramp production in 2024.
- Mobile: Navitas now powers 5 newly released OPPO models and 8 newly released Xiaomi models with chargers ranging from 67 W to 120 W. Additional Samsung models now include powering the new Galaxy S24.
- Other New Markets: GaN ICs have been designed into the ground-based terminal for a major internet satellite implementation to ramp in 2H24.
Business Outlook
First quarter 2024 net revenues are expected to be $23 million plus or minus $500 thousand. Gross margin for the first quarter is expected to be 41% plus or minus 50 basis points and operating expenses, excluding stock-based compensation and amortization of intangible assets, are expected to be approximately $21.5 million in the first quarter of 2024. Weighted-average basic share count is expected to be approximately 180 million shares for the first quarter of 2024.
Original – Navitas Semiconductor
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Navitas Semiconductor announced that its GaNFast™ power ICs drive Samsung’s 25 W “Super-Fast Charging” (SFC) for the new, AI-enhanced Galaxy S24 smartphone.
Flagship hardware specifications include a 2340 x 1080 (FHD+) dynamic AMOLED 2X, and 120 Hz screen, plus the Galaxy S24 delivers innovative and practical AI features to help transform the way users communicate, create and discover the world. Galaxy AI features like Live Translate, Chat Assist and new “Circle to Search” with Google, to improve nearly every experience that S24 users can enjoy.
The 25 W GaNFast unit delivers 50% charge to the high-capacity 4000 mAh battery in only 30 minutes, while the USB PD 3.0 (Type-C) specification makes it compatible with other Samsung products including Galaxy Buds2 audio, Galaxy Z Fold5, Galaxy Flip and Galaxy A23.
Designed with sustainability in mind, the 25 W power adapter features a 75% reduction in power consumption sleep mode. Navitas’ GaNFast technology is deployed in a high-frequency, quasi-resonant (HFQR) topology running at 150 kHz – 3x faster than standard silicon designs – and delivers a 30% size shrink vs. conventional charger designs.
“We are excited to extend our relationship with Samsung as they continue to develop groundbreaking mobile phone technology,” said David Carroll, Sr. VP Worldwide Sales for Navitas. “Deploying GaNFast ICs has allowed Samsung to create an ultra-compact, lightweight and efficient 25W adapter that can rapidly re-charge the new Galaxy S24 and a variety of other phones and accessories in the Samsung range.”
Original – Navitas Semiconductor
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Navitas Semiconductor marks 10 years of innovation and growth in a broad range of fast-growing markets from ultra-fast mobile charging to AI data centers, renewable energy and EVs.
The name ‘Navitas’ is from the Latin, meaning ‘energy’, ‘zeal’, or ‘get-up-and-go!’, and signifies the company’s passion and rate of innovation to replace legacy silicon power chips and accelerate the transition from fossil fuels to a carbon-neutral, renewable-energy world, enabling and exploiting a $1.3 trillion electrification opportunity.
Commenting on the ten-year milestone, CEO and co-founder Gene Sheridan stated: “From a trailer to a $1B+ IPO in record time and a worldwide presence with a 300-strong, highly-skilled team, we’ve so far delivered over 150 million devices and saved over 200,000 tons of CO2. Growth awards from Deloitte and Forbes highlight our revenue growth, and a long-term guidance to grow many times faster than the market.”
Dan Kinzer, co-founder and COO / CTO added: “From our founding in 2014 as a next-generation power semiconductor pioneer, Navitas has amassed over 250 patents across ‘wide band-gap’ technologies gallium nitride and silicon carbide, as well as patented, enabling high-speed controller and digital isolators. Leading-edge technology, key talent and a passion for innovation are critical factors in Navitas’ success to-date, and a strong foundation for further technology and continued market leadership.”
With each new generation of GaN IC in only 15-18 months, GaN technology milestones during Navitas’ first decade include the launch of the world’s first integrated GaNFast™ power IC; GaNSense™ – the world’s first integrated precision current-sensing GaN chip; GaNSafe™ – the world’s most protected GaN power device for high-reliability systems; and the unveiling of a revolutionary new bi-directional GaN power IC platform with up to 9x smaller chip size than legacy silicon MOSFETs or IGBTs.
For higher voltages and higher power applications, Navitas offers the industry’s broadest range (650-6,500V) of SiC bare die and packaged devices, with best-in-class efficiency, ruggedness and high-frequency operation, based on GeneSiC technology. This assures Navitas’ position as a leading supplier of both SiC and GaN power semiconductors to markets ranging from consumer electronics, AI data centers and electric vehicles to renewable energy and industrial automation.
In 2021 the company went public with a $1B+ IPO on the Nasdaq exchange, and 2023 marked the shipment of over one hundred million GaN shipments. In the same year the company was recognized by Forbes as one of America’s top 50 most successful small companies and was ranked 72nd in the Deloitte Technology Fast 500™ of fast-growing North American companies.
Along the way the business has also offered the industry’s first 20-year warranty for its technologies and become the world’s first semiconductor company to achieve CarbonNeutral®-company certification from the leading experts on carbon-neutrality and climate finance, Climate Impact Partners.
Last year Navitas officially opened its new headquarters in Torrance, Ca. Around 100 highly-skilled Navitas staff are employed in Torrance for all aspects of GaN and SiC design, applications, test, characterization and quality, alongside specialists in finance, marketing and HR.
Navitas will celebrate 10 years of innovation and growth in a series of events during 2024, beginning with the APEC 2024 conference and “GaNFast Blast!” celebration in Long Beach from February 26th.
Original – Navitas Semiconductor
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Navitas Semiconductor invites visitors to experience “Planet Navitas” and collaborate to “Electrify Our World” at APEC 2024 (Long Beach, CA, February 26th-29th, 2024).
Since its inception in 1985, the Applied Power Electronics Conference (APEC) has become the world’s premier event in power electronics, with high-caliber, peer-reviewed technical content from industry and academia. The APEC 2016 keynote by Dan Kinzer, COO / CTO and co-founder, was the public debut for start-up Navitas and GaNFast power ICs.
Following the mission to “Electrify our World™”, the “Planet Navitas” exhibition booth invites visitors to discover how next-gen GaN and SiC technology enable the latest solutions for fully-electrified housing, transportation and industry. Examples range from TV power to home-appliance motors and compressors, EV charging, solar/micro-grid installations, and on to data center power systems. Each example highlights end-user benefits, such as increased portability, longer range, faster charging, and grid-independence, plus a focus on how low-carbon-footprint GaN and SiC technology can save over 6 Gtons/yr CO2 by 2050.
“APEC is a significant event in the power industry calendar, with an intense schedule of customer discussions on new technologies and systems,” said Mr. Kinzer. “Complementary GaNFast™ and GeneSiC™ portfolios, with comprehensive, application-specific system design support accelerates customer time-to-market with sustainable performance advantages. ‘Planet Navitas’ represents the very real, inspiring implementation of GaN & SiC across the vast $22B/year market opportunity.”
Major technology updates and releases include GaNSafe – the world’s most-protected, most-reliable and highest-performance GaN power, Gen-4 GaNSense Half-Bridge ICs – the most integrated GaN devices, Gen-3 Fast SiC power FETs – for high-power performance, and breakthrough bi-directional GaN for game-changing motor drive and energy-storage applications.
APEC 2024 will take place at the Long Beach Convention & Entertainment Center, 300 East Ocean Boulevard, Long Beach, CA 90802, with exhibition running from February 26th – 28th. “Planet Navitas” is featured at booth #1353.
Technical presentations:
- Tuesday 27th February
- “Reducing System Cost with GaN HEMTs in Motor Drive Applications”
- 8:55am, IS05.2, Alfred Hesener, Sr. Dir. Industrial & Consumer
- 10:40am, PSTT02.6, Bin Li, Dir. Applications
- 11:40am, PSTT01.9, Xiucheng Huang, Sr. Director
- 3:45pm, exhibitor presentation, location: 101B
- “Reducing System Cost with GaN HEMTs in Motor Drive Applications”
- Thursday 29th February
- “SiC & Package Innovations in Power Modules”
- 8:30am-11:20am, IS19, Stephen Oliver, Session Chair.
- 8:55am, PSTIS21.2, Tom Ribarich, Sr Dir. Strategic Marketing
- 1:30pm-3:10pm, IS27, Llew-Vaughan-Edmunds, Session Chair
- 2:20pm, IS27-3, Stephen Oliver, VP Corp Mktg & IR, and Llew Vaughan-Edmunds, Sr Dir. GeneSiC
- “SiC & Package Innovations in Power Modules”
Student Job Fair:
- From Los Angeles to Shanghai, careers at Navitas span cutting-edge IC design and innovative applications engineering to pioneering research and ensuring customer success and revenue growth. Meet the experts and join the team!
- Tuesday, February 27, 1:30pm-5pm, Regency Ballroom ABC of the Hyatt Regency hotel, right next to the Long Beach Convention Center, with Shaun Sandera, Sr. Human Resources Manager
To schedule a meeting with the Navitas team, email info@navitassemi.com, or select from the bookings calendars below:
Customer (Private Room): https://bit.ly/navitas-apec-24-customer-private-room
Customer Meeting (On-Booth): https://bit.ly/navitas-apec-24-customer-on-boothOriginal – Navitas Semiconductor
- Tuesday 27th February
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Navitas Semiconductor and SHINRY, global industry leader of on-board power supply and strategic supplier to Honda, Hyundai, BYD, Geely, XPENG, BAIC and many more leading automobile manufacturers, announced the opening of an advanced, joint R&D power laboratory to accelerate the development of New-Energy Vehicle (NEV) power systems enabled by Navitas’ GaNFast™ technology.
Next-gen gallium nitride (GaN) is replacing legacy silicon power chips due to superior high-frequency and high-efficiency characteristics. GaN delivers faster charging, faster acceleration and longer-range, accelerating market adoption of NEVs and the transition from fossil fuels to clean, renewable energy.
On January 16th, 2024, Peter (Jingjun) Chen, COO of SHINRY, along with Navitas’ Gene Sheridan, CEO and Navitas’ Charles (Yingjie) Zha, VP and GM plus other senior executives attended the joint lab’s opening ceremony at SHINRY headquarters in Shenzhen.
The joint lab accelerates development projects, with leading-edge GaN technology combining with innovative system-design skills and engineering talent to enable unprecedented high power density, lightweight, efficient designs that translate to faster charging and extended range, with faster time-to-market.
The joint lab brings together experienced, highly-professional engineers from Navitas and SHINRY to build efficient, collaborative R&D platforms. Navitas’ own dedicated EV system Design Center, located in Shanghai will provide comprehensive technical support for the joint lab.
Navitas will not only supply SHINRY with leading-edge, trusted power devices, but will also engage in system-level R&D from the initial stages of product specification and design, through to test platforms and customized packaging solutions. The result will be more efficient, higher power density, more reliable, and cost-effective power systems for NEVs.
“SHINRY always pursues technological innovation. As early as 2012, SHINRY began applying Silicon Carbide (SiC) MOS, and in 2019, SHINRY initiated research on the application of GaN and has been actively seeking strategic partners.” said Peter (Jingjun) Chen, COO of SHINRY.
“As an advanced supplier in the field, Navitas will assist in creating more advanced, energy-efficient, and higher-efficiency power system products. I believe the establishment of this joint lab will comprehensively accelerate the design and market launch of SHINRY’s products and further enhance the market competitiveness of SHINRY products.”
“We are excited to join with SHINRY to establish a new lab for next-gen power semiconductors, assisting SHINRY in creating advanced power systems.” said Gene Sheridan, Navitas’ co-founder & CEO. “SHINRY’s mission to change the way of travel aligns closely with Navitas’ Electrify Our World™ mission. We believe that through our joint efforts, leading GaN technologies will enter the power systems of NEVs for more end-users, contributing to the vigorous growth of the new energy industry.
Original – Navitas Semiconductor
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Navitas Semiconductor held an Opening Ceremony and 2023 Investor Day at its new headquarters in Torrance, CA.
Torrance Mayor, George Chen, and Dustin McDonald from the Office of the Governor of California joined Navitas’ CEO and co-founder Gene Sheridan to speak and cut the ribbon, officially opening Navitas’ new headquarters. Around 100 highly-skilled Navitas staff are employed in Torrance for all aspects of GaN and SiC design, applications, test, characterization and quality plus finance, marketing and HR. Further team growth is planned for 2024, including a $20M investment to add SiC epi-growth capability for strategic manufacturing expansion.
The well-attended investor meeting began with Mr. Sheridan’s recap on a year of significant growth for Navitas, with a doubling of revenue, a $92M capital raise, four major new technology platforms and an update on Navitas’ mission to ‘Electrify Our World™. Then, Mr. Sheridan outlined a $1.3T electrification market opportunity as GaN and SiC enable and accelerate our transition away from fossil fuels to a carbon-neutral, full-electrified world, envisaged as ‘Planet Navitas’.
Dan Kinzer, co-founder and COO/CTO then introduced technology platforms including Gen-4 GaNSense half-bridges for motor drive and mobile fast chargers, GaNSafe – the world’s most protected GaN powertrain, GaNSense Control, and a revolutionary new bi-directional GaN power IC platform with up to 9x smaller chip size than legacy silicon MOSFETs or IGBTs. Sid Sundaresan, SVP for the GeneSiC product line added more detail on the Gen-3 Fast SiC platform.
In May, Navitas announced a qualified customer pipeline of $760M, across mobile, solar/ESS, EV/eMobility, data center and appliance/industrial markets. At the Investor Day, David Carroll, SVP Worldwide Sales announce that the pipeline had increased by 65% to $1.25B, with 10/10 top mobile OEMs and majority of solar inverter makers. Investors also heard from the voices of Navitas customers, including Rick Liu from Accopower for EV, Belkin’s Steve Malony for mobile, Philipp Guo from VREMT for EV, Adam Weissman from Anker for mobile, and Harron Inam from DG Matrix for EV roadside charging.
Ron Shelton, Navitas CFO, presented more detail on the impressive financial results with increased gross margin, and over $170M is cash and no debt, plus a long-term target to grow 6x-10x more than the market, with 50%+ gross margins.
In-person visitors then toured the Navitas facility, including past & present demos and the ‘Electrify Studio’ experience – where Navitas is creating a vision for our electrified planet – plus SiC design, GaN IC design, applications, test & characterization, quality & reliability.
The day concluded with a celebration at the Crypto.com Arena, where guests enjoyed the LA Clippers’ victory—a fitting finale to a day filled with inspiration, innovation, and collaboration.
Comprehensive Investor Day material is available via the Navitas website, with presentation slides, and complete video playback of the main presentations, customer testimonials, and facility tour.
Original – Navitas Semiconductor
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Navitas Semiconductor announced that NIO, a global, leading, new-energy vehicle maker has released its inaugural smartphone, the NIO Phone with a powerful 66 W fast charger featuring Navitas’ next-generation gallium-nitride (GaN) GaNFast™ power ICs equipped with GaNSense™ technology. This enhancement delivers flagship-level charging efficiency, providing end users with a better vehicle-centric mobile interconnection experience. New GaNFast ICs are replacing legacy silicon chips to enable next-gen fast-charging for mobile phones, tablets and laptops.
The flagship NIO Phone features the leading Qualcomm Snapdragon 8 Gen 2 chip, and boasts a 6.81-inch 2K variable refresh-rate curved screen, with the main, ultra-wide-angle, and 50 M pixel periscope telephoto cameras. Using NIO Link panoramic-interconnection technology, the NIO Phone integrates smoothly and seamlessly with smart EVs and NIO’s in-car system. With a single click, the driver can control over 30 functions, and equipped with ultra-wideband technology, it can completely replace traditional car keys.
To support such powerful and comprehensive features, the NIO Phone is equipped with a large 5,200 mAh battery and an in-box GaNFast charger offering up to 66 W of charging power. Measuring only 57 x 57 x 30 mm (97.5 cc), the NV6136 GaNFast power IC in a high-frequency quasi-resonant (HFQR) topology with loss-less current sensing and ultra-fast autonomous short-circuit protection, delivers power density of 1.03 W/cc.
Mr. Zhang Baozhou who is responsible for NIO’s mobile phone supply chain, stated, “NIO is dedicated to providing users with high-performance smart electric vehicles and ultimate user experience, creating a delightful lifestyle for our users.
The NIO Phone fulfills the expectations and needs of NIO users for a flagship smartphone, making their cars more intuitive and user-friendly. In launching NIO Phone, we are very pleased to collaborate with Navitas Semiconductor, industry leader in GaN to utilize the mature, cutting-edge GaNFast power ICs, allowing our users to experience a comprehensive, lightweight, and efficient charging experience.”
Mr. Wu Gongli, GM of R&D for TenPao, the manufacturing partner for the NIO Phone commented, “We are excited to work with Navitas to build this leading GaN charger for NIO users, marking an important milestone in TenPao’s development. Navitas’ GaNFast ICs deliver top power-density performance with easy-to-use features. The combination of high efficiency and fast design accelerates our time-to-market.”
Mr. Yingjie (Charles) Zha, VP and GM of Navitas China, stated, “Navitas is extremely honored to collaborate with TenPao to make the NIO Phone possible by integrating the leading GaNFast technology into the NIO Phone. Navitas’ mission to ‘Electrify Our World™’ aligns closely with NIO’s objective of ‘Blue Sky Coming’. This is just the beginning of our collaboration. In the future, Navitas will spare no effort to deeply-integrate energy-saving, sustainable, world-leading GaN and SiC technology into NIO Phone’s DNA, creating a comprehensive lifestyle revolution from a smartphone to EVs.”
Original – Navitas Semiconductor
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Navitas Semiconductor secured the 49th position on Forbes’ 2024 America’s Successful Small Companies list. The ranking is recognition of the company’s growth based on strong demand for Navitas’ advanced, high-efficiency, wide bandgap (WBG) GaN and SiC power components, across growing and diverse global markets and an expanding customer base.
Forbes evaluated Navitas on earnings growth, sales growth, return on equity, and total stock return over the preceding five years, with a specific focus on the last 12 months, including Navitas’ 115% increase in revenue (Q3’22 to Q3’23).
Looking ahead, Navitas will host an in-person 2023 Investor Day at the company’s new Torrance HQ (with livestream), from 12:30 pm Pacific / 3:30 pm US Eastern on Tuesday 12th December. Highlights include a deep dive into four major new GaN/SiC technology platforms and focus markets, plus customer testimonials and a refresh on the $1B+ customer pipeline, plus 2024 and long-term financial outlook.
“The top 50 ranking is great recognition by Forbes for Navitas’ growth,” said Gene Sheridan, co-founder and CEO. “GaN and SiC are accelerating the transition away from fossil fuels to ‘Electrify Our World™’ with renewable sources and efficient uses of electricity. This disruptive, displacement technology upgrades from legacy silicon chips, to make existing applications more efficient, lighter, faster charging and longer range, with lower system costs.”
Original – Navitas Semiconductor
