NVTS

MKT CAP:$4B

Navitas Semiconductor Corporation

Market Cap

$4B

Technology·Semiconductors·🇮🇪 Ireland·NASDAQ

Technology·Semiconductors·🇮🇪·NASDAQ

Stock Price

$17.50+$9.12 (+108.85%)

Apr 22, 2026

Company Details

Navitas Semiconductor Corporation designs, develops, and sells gallium nitride (GaN) power integrated circuits in China, the United States, Taiwan, Korea, and internationally. The company was incorporated in 2013 and is based in Dublin, Ire...

CEO

Chris Allexandre

IPO Date

Oct 20, 2021

Website

navitassemi.com

Key Metrics TTM

Revenue

$46M

-44.9% YoY

Net Income

-$117M

EPS (Diluted)

-$0.57

Free Cash Flow

-$44M

Revenue / Share

$0.21

Gross Margin

20.7%

Operating Margin

-198.6%

Net Margin

-254.7%

FCF Margin

-96.6%

P/S

86.2x

P/E

—

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Feb 27, 2026

$46M-44.9%EPS -$0.57

Q4 2025

Feb 27, 2026

$7M-59.4%EPS -$0.14

Q3 2025

Nov 3, 2025

$10M-53.4%EPS -$0.09

Q2 2025

Aug 4, 2025

$14M-29.2%EPS -$0.25

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$5M	$2M	-$19M
Q3 21	$6M	$3M	-$7M
Q4 21	$7M	$3M	-$36M
Q1 22	$7M	$3M	-$35M
Q2 22	$9M	$4M	-$20M
Q2 23	$18M	$7M	-$27M
Q3 23	$22M	$7M	-$29M
Q4 23	$26M	$11M	-$27M
Q1 24	$23M	$10M	-$32M
Q2 24	$20M	$8M	-$31M
Q3 24	$22M	$9M	-$29M
Q4 24	$18M	-$2M	-$38M
Q1 25	$14M	$5M	-$25M
Q2 25	$14M	$2M	-$22M
Q3 25	$10M	-$904.0K	-$19M
Q4 25	$7M	$3M	-$25M

Valuation

Quarter	P/S	P/E
Q2 21	209.1x	—
Q3 21	187.9x	—
Q4 21	166.7x	—
Q1 22	157.2x	—
Q2 22	139.7x	—
Q2 23	97.1x	—
Q3 23	71.4x	63.2x
Q4 23	52.9x	—
Q1 24	44.3x	—
Q2 24	43.1x	—
Q3 24	43.3x	—
Q4 24	47.5x	—
Q1 25	53.4x	—
Q2 25	58.0x	—
Q3 25	69.9x	—
Q4 25	86.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	-$8M	-$8M
Q3 21	-$11M	-$12M
Q4 21	-$17M	-$18M
Q1 22	-$11M	-$11M
Q2 22	-$8M	-$10M
Q2 23	-$9M	-$10M
Q3 23	-$244.0K	-$2M
Q4 23	-$23M	-$24M
Q1 24	-$20M	-$23M
Q2 24	-$15M	-$18M
Q3 24	-$14M	-$14M
Q4 24	-$10M	-$11M
Q1 25	-$14M	-$14M
Q2 25	-$11M	-$12M
Q3 25	-$10M	-$11M
Q4 25	-$8M	-$8M

Capital Expenditures

Quarter	CapEx
Q2 21	$329.0K
Q3 21	$572.0K
Q4 21	$855.0K
Q1 22	$294.0K
Q2 22	$2M
Q2 23	$889.0K
Q3 23	$2M
Q4 23	$1M
Q1 24	$3M
Q2 24	$3M
Q3 24	$570.0K
Q4 24	$562.0K
Q1 25	$41.0K
Q2 25	$679.0K
Q3 25	$710.0K
Q4 25	$48.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+116.6%	+275.9%
Q3 21	+60.9%	+65.4%
Q4 21	+57.7%	+264.7%
Q1 22	+26.8%	+231.7%
Q2 22	+58.0%	+19.1%
Q2 23	+220.8%	+265.6%
Q3 23	+199.5%	+17.1%
Q4 23	+286.6%	+26.6%
Q1 24	+169.1%	+91.3%
Q2 24	+13.3%	+14.0%
Q3 24	-1.4%	+0.1%
Q4 24	-31.0%	+5.5%
Q1 25	-39.5%	-28.2%
Q2 25	-29.2%	-30.0%
Q3 25	-53.4%	-41.7%
Q4 25	-59.4%	-42.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$13M	233.6%
Q3 21	$201.0K	3.6%
Q4 21	$27M	363.0%
Q1 22	$25M	375.8%
Q2 22	$11M	128.2%
Q2 23	$13M	69.6%
Q3 23	$12M	55.0%
Q4 23	$12M	46.9%
Q1 24	$14M	58.5%
Q2 24	$13M	64.0%
Q3 24	$11M	52.5%
Q4 24	$5M	27.9%
Q1 25	$7M	49.7%
Q2 25	-$913.0K	-6.3%
Q3 25	$0	0.0%
Q4 25	$8M	109.1%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q2 21	$6M	$15M	—
Q3 21	$6M	$4M	—
Q4 21	$11M	$28M	—
Q1 22	$13M	$25M	—
Q2 22	$10M	$14M	—
Q2 23	$17M	—	$13M
Q3 23	$17M	—	$14M
Q4 23	$18M	—	$15M
Q1 24	$20M	—	$16M
Q2 24	$19M	—	$15M
Q3 24	$18M	—	$15M
Q4 24	$19M	—	$16M
Q1 25	$13M	—	$12M
Q2 25	$11M	—	$8M
Q3 25	$13M	—	$5M
Q4 25	$12M	—	$10M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$254M	$0	$254M
Q2 22	$241M	$0	$241M
Q3 22	$125M	$0	$125M
Q4 22	$110M	$0	$110M
Q1 23	$101M	$0	$101M
Q2 23	$178M	$0	$178M
Q3 23	$177M	$0	$177M
Q4 23	$152M	$0	$152M
Q1 24	$130M	$0	$130M
Q2 24	$112M	$0	$112M
Q3 24	$99M	$0	$99M
Q4 24	$87M	$0	$87M
Q1 25	$75M	$0	$75M
Q2 25	$161M	$0	$161M
Q3 25	$151M	$0	$151M
Q4 25	$237M	$0	$237M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	21M	+5.9%	+40.9%
Q3 21	17M	-20.0%	+12.7%
Q4 21	97M	+482.3%	+375.1%
Q1 22	131M	+34.6%	+564.3%
Q2 22	132M	+0.7%	+532.2%
Q2 23	166M	+25.3%	+890.1%
Q3 23	186M	+12.1%	+90.6%
Q4 23	179M	-3.7%	+36.3%
Q1 24	180M	+0.6%	+36.1%
Q2 24	183M	+1.9%	+10.6%
Q3 24	185M	+0.8%	-0.5%
Q4 24	187M	+1.4%	+4.7%
Q1 25	188M	+0.3%	+4.5%
Q2 25	199M	+5.9%	+8.6%
Q3 25	213M	+6.9%	+15.2%
Q4 25	222M	+4.5%	+18.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$1M	4
Q3 21	$1M	4
Q4 21	$76.4K	96
Q1 22	$70.2K	96
Q2 22	$89.7K	96
Q2 23	$188.1K	96
Q3 23	$228.9K	96
Q4 23	$271.4K	96
Q1 24	$241.4K	96
Q2 24	$213.2K	96
Q3 24	$225.8K	96
Q4 24	$64.2K	280
Q1 25	$50.1K	280
Q2 25	$51.8K	280
Q3 25	$36.1K	280
Q4 25	$38.4K	190

Revenue / Employee