Navitas Revenue Jumps 38% to $14 Million as Adjusted Per-Share Loss Narrows
Key Facts
Navitas Semiconductor reported revenue of $14.0 million in the third quarter of 2026, up 33% from the previous quarter and 38% year over year, and an unadjusted GAAP loss of $0.03 per share. By comparison, its GAAP loss was $0.14 per share, versus $0.09 in the same period of 2025. The results show a widening gap between the two loss measures: the adjusted per-share loss narrowed from $0.05 a year earlier, while the accounting loss increased. The company reported the results in a filing with the U.S. Securities and Exchange Commission, and its executives discussed the results and business outlook at a conference held on November 3, 2026. The figures also reflected quarterly and annual revenue growth as the company continued to post net losses.
Revenue rose from $10.5 million in the second quarter of 2026 to $14.0 million in the third quarter, compared with $10.1 million in the third quarter of 2025. The company said revenue growth was driven by high-power markets, whose contribution to revenue increased by more than 50% from the previous quarter. Gross margin was 21.5% on a GAAP basis, versus 40.0% on a non-GAAP basis. The company attributed the improvement in GAAP margin to lower amortization of intangible assets and higher revenue. These metrics link sales growth to a shift in the business mix toward high-power markets, while a clear gap remains between GAAP and adjusted margins.
Net loss was $37.1 million on a GAAP basis, versus $19.2 million in the third quarter of 2025, while non-GAAP net loss narrowed to $6.9 million from $10.2 million. On a per-share basis, the company posted a GAAP loss of $0.14, compared with $0.09 a year earlier, and an unadjusted loss of $0.03 versus $0.05. The figures show that a narrower adjusted loss did not prevent the GAAP loss from increasing. Cash and cash equivalents totaled $531.5 million at September 30, 2026, up from $236.9 million at December 31, 2025. The larger cash balance gives the company a broader financial base as it moves into new sectors, while accounting losses remain elevated compared with the year-earlier period.
Navitas said revenue from high-power markets rose more than 50% quarter over quarter, and that AI infrastructure, data centers, networking and power are on track to exceed 40% of total sales by the end of 2026. Chief Executive Chris Alexander said the strategic shift was reflected in the third-quarter results and forecast that AI infrastructure would account for more than 40% of revenue by year-end. The company added that it expects its mobile and low-cost consumer business to become very limited within its revenue mix by year-end. The shift is taking place alongside the close of its acquisition of Claros, which added integrated voltage regulation technology to the company’s portfolio to support its grid-to-processor power delivery strategy. These steps put data centers, networking and power at the center of the company’s commercial focus.
Navitas expects fourth-quarter 2026 revenue of $16.0 million, plus or minus $0.5 million, equivalent to quarter-over-quarter growth of 14% and year-over-year growth of 119% at the midpoint. The company said it expects another quarter of double-digit sequential growth and its highest revenue in the past seven quarters. It expects this despite largely exiting the mobile and low-cost consumer markets. The guidance is the next test of the ability of its high-power and AI infrastructure businesses to drive sales growth. The company’s shares closed the November 3 session at $8.56, up 7.94% from the previous close of $7.93, then rose to $9.10 in after-hours trading, an additional gain of 6.31%.