Navitas Semiconductor Corporation

The grade, in three tenses

Headline 3.0 out of ten, 8 of 9 metrics filed and 1 estimated: past 3.3 out of ten, present 2.9 out of ten, future 3.1 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

• Surviving crises (past): 0.7 out of ten. 11 warning events since 2020; the latest 2025-04-02. 7th percentile among 99 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Track record (past): 5.6 out of ten. +31.1% a year over 6 filed years; profitable in 1 of 5. 56th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Shareholder treatment (past): 2.3 out of ten. CrossAssetData estimate 2.3/10, confidence 35 of 100 (one part). 23rd percentile among 94 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
• Financial health (present): 3.5 out of ten. ROE -26%: lost 26¢ per shareholder dollar. Leverage 11%: owes 11¢ per asset dollar. 35th percentile among 95 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Industry position (present): 3.0 out of ten. bottom 30% of 97 in its family; net margin -254.7%. 30th percentile among 97 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Leadership (present): 1.2 out of ten. bottom 12% of 66 in its family for leadership; chief executive since 2025. 12th percentile among 66 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
• Room to expand (future): 5.6 out of ten. top 44% of 94 in its family for room to expand. 56th percentile among 94 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Growth drivers (future): 1.3 out of ten. bottom 13% of 93 in its family for growth drivers. 13th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Expectations vs reality (future): 0.7 out of ten. bottom 7% of 88 in its family for expectations against reality. 7th percentile among 88 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 10-K filed 2026-02-27 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-07-27 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-07-27 (on EDGAR). Newest filing: Form S-8, 2026-10-06. Filings on record since 2020. Read from EDGAR 2026-10-12.

How the company works

Read from its Form 10-K filed 2026-02-27.

The people

Chris Allexandre has been president, chief executive and a board member since September 2025. He is a semiconductor executive of more than two decades, with senior roles at Texas Instruments, Fairchild, now part of ON Semiconductor, NXP, IDT and Renesas Electronics; at Renesas he ran the power division, covering power management and discrete product lines with 2.5 billion dollars of revenue, after leading its sales and marketing. The finance seat changed too. Tonya Stevens joined as senior vice president, chief financial officer and treasurer in March 2026, from Lattice Semiconductor, where she was chief accounting officer and before that interim chief financial officer, and earlier from Intel Corporation, Acumed, American Veterans Security and PricewaterhouseCoopers. She took over from Todd Glickman, who agreed to go and stayed on as a consultant to 30 March 2026. [1, 2, 3, 4, 5, 6]

The man Allexandre replaced had been there from the start. Gene Sheridan resigned as president, chief executive and a director effective 31 August 2025, after what the proxy statement calls an eleven year tenure as the founding chief executive. The chair changed a few months before that, under an April 2025 agreement between the company, the director Ranbir Singh and SiCPower, LLC: Sheridan resigned as chair, Richard J. Hendrix took the seat, Cristiano Amoruso joined the board on 8 May 2025 on Singh's recommendation, and Daniel M. Kinzer resigned from the board on that appointment. Hendrix had run the company's predecessor, the blank cheque company Live Oak Acquisition Corp. II, from August 2020 until the combination closed in October 2021. The same agreement created an Executive Steering Committee chaired by Singh, with Hendrix and David Moxam on it, which the board asked to oversee capital allocation, expense management and senior hiring and succession planning. [7, 8, 9, 10, 11, 12]

The record of who files insider reports shows both the churn and the ballast. Twenty one people have filed for Navitas since it began reporting, thirteen of them in the last fifteen months. Three directors, Brian Long, David Moxam and Dipender Saluja, have filed since 2021, the year the shares were listed on Nasdaq, and Richard J. Hendrix since 2020, under the shell company he ran. Ranbir Singh, who founded GeneSiC in 2004 and led it until Navitas bought it, sat on the management team as executive vice president of the GeneSiC business until 31 July 2024 and remains a director. [13, 14, 15]

By headcount this is a small company. At the end of 2025 the worldwide workforce was about 190 full and part time employees, 32 percent of them in the United States, 65 percent in Asia Pacific and 3 percent in Europe. It had been cut twice that year: a plan announced on 20 January 2025 took out 19 percent of the workforce, and the Navitas 2.0 plan announced in the fourth quarter aimed at another 19 percent, alongside contract terminations and fixed asset write-downs. [16, 17, 18]

How it operates

Navitas designs and sells power semiconductors: gallium nitride power integrated circuits, high voltage silicon carbide devices, the high speed silicon controllers that go with them, and digital isolators, all used in power conversion and charging. Gallium nitride and silicon carbide are wide bandgap materials, which the company says let a converter carry more power, run at higher voltage, shed heat better and take up less room than the silicon they replace. Its own names for the two families are GaNFast for the power integrated circuits, which put the drive, control and protection on a single chip, and GeneSiC for the silicon carbide transistors, whose trench assisted planar design it says reaches up to 6.5 kilovolts. By the end of 2025 it had shipped more than 300 million of the gallium nitride devices and nearly 30 million of the silicon carbide ones. [19, 20, 21, 22]

It does not sell to the people who use the chips. The revenue is the sale of semiconductors through specialized distributors to original equipment makers, their suppliers and other end customers, and the filing says a majority of revenues come from sales to distributors of electronic components, who sell on to equipment makers and merchant power supply makers. Since the pivot that channel has been narrowed on purpose: the company says it reduced the overall number of distributors it works with and placed additional reliance on a few key distribution partners, while a direct sales team builds relationships in the four markets it now chases. Alongside the channel it names design partnerships with hyperscale data centre operators, graphics processor vendors and the large contract makers, on 800 volt direct current architectures, and supports customers with process design kits and dedicated application design centres. [23, 24, 25, 26, 27, 28]

Where the money comes from depends on which way the filing counts. By the home country of the end customer, China was 47 percent of 2025 revenue and the United States 28 percent, with Asia outside China at 11 percent and Europe at 14 percent, the European figure given as one line because the company says it is impractical to split it by country. By the regions its revenues are billed to, Hong Kong alone was 57 percent, the rest of Asia 21 percent, the United States 10 percent, mainland China 9 percent and Europe 3 percent, which is the shape of a business sold through Asian distribution. It owns no real property. It leases about 50,000 square feet of offices and laboratories in Torrance, California, and further offices, research and design centres in Shanghai, Shenzhen and Hangzhou in China, Hsinchu and Taipei in Taiwan, and Seoul in Korea. [29, 30, 31, 32]

It makes nothing itself. Navitas calls itself a product design house that contracts the manufacturing of its chips and packaging to partner suppliers. Epitaxial wafers and silicon substrates come from several qualified suppliers in the United States and Asia. Gallium nitride wafers come from TSMC in Taiwan and from GlobalFoundries in the United States, with two further fabs in Asia for gallium nitride and standard silicon processes; the silicon carbide devices are made in the United States by X-Fabs. Packaged parts are assembled and tested by subcontractors mostly in Asia, and the filing says a significant amount of that work, and the foundry that has historically supplied its gallium nitride wafers, sits in Taiwan, with assembly and test also in the Philippines. Gallium itself is a by product of aluminum refining; each power chip holds about 95 micrograms of it. [33, 34, 35, 36, 37, 38, 39, 40]

The specifics

Navitas reached the public market through a shell. The registrant was first incorporated as Live Oak Acquisition Corp. II; on 19 October 2021 it acquired all the equity of Navitas Semiconductor Limited, an Irish private company domesticated in Delaware, and took its name. The business itself was founded in 2014 to commercialize gallium nitride, a material with ten times the electrical field strength and twice the electron mobility of silicon that had proved hard to make reliably. The shares have been listed on Nasdaq under the ticker NVTS since 20 October 2021. In August 2022 the company bought GeneSiC Semiconductor, which brought the silicon carbide transistors and diodes and the trench assisted planar process behind them. [41, 42, 14, 43]

What it owns is designs and process knowledge rather than plant. The company says it holds one of the most robust power semiconductor patent portfolios, more than 300 patents issued or pending worldwide, and points to the broad patent cross licence it signed with Infineon Technologies AG in October 2024 as proof of what the portfolio is worth in practice. Beside the patents sits its gallium nitride process design kit, the set of models and rules a designer needs to build a chip on its process. The setting is national as well as technical: American rules have classed compound and wide bandgap semiconductors as critical to national security, which is why the company presents its United States foundry partners, GlobalFoundries for gallium nitride and X-Fabs for silicon carbide, as an advantage over rivals that lean on foreign supply chains. [44, 45, 46, 36]

It names its rivals plainly, and most of them are bigger. In gallium nitride: Infineon Technologies AG, Power Integrations, Texas Instruments, Innoscience, Renesas Electronics and Efficient Power Conversion. In silicon carbide: Infineon, Wolfspeed, ON Semiconductor, ROHM, Qorvo and STMicroelectronics. The filing adds that many competitors have significantly greater financial resources, that most suppliers of gallium nitride devices sell discrete parts rather than the integrated power chip Navitas builds, and that plain silicon devices remain the incumbent solution for power applications and still carry a lower cost advantage. [47, 48, 49]

Two things on the record deserve naming. The material weaknesses in internal control over financial reporting found with the audit of the 2024 accounts were remediated during 2025, through an outside adviser, third party resources, training and new control activities, and management concluded that internal control over financial reporting was effective at the end of 2025. And after the year closed the company agreed to buy a business: on 24 August 2026 it entered a merger agreement with Claros, Inc. and two of its own subsidiaries, at an estimated purchase price of about 232.8 million dollars, of which about 126.4 million is cash at closing and about 89.7 million is in shares. It says it anticipates the mergers closing before the end of 2026, subject to clearance from the Department of Justice, with no assurance that they will close at all. [50, 51, 52, 53, 54]

What drives growth, line by line

Navitas reports one segment and prints no revenue by product. The chief executive, who is the decision maker for that purpose, looks at consolidated figures, and the filing says product level data exists inside the company but is not used to judge performance or allocate resources, so the only revenue lines it publishes are geographic. The year itself was a fall: revenue of 45.9 million dollars in 2025 against 83.3 million in 2024, down 37.4 million or 45 percent, which the company puts down to the decline in the mobile and consumer markets in China. On the filed record that is a round trip, from 11.8 million in 2020 through 79.5 million in 2023 and 83.3 million in 2024, back to 45.9 million. [55, 56, 57]

Sales through distributors. Nearly all of it moves through distributors, and the list at the top changed twice. In 2024 one of them, called Distributor A in the filing, accounted for 56 percent of revenue; the company terminated that agreement at the end of that year and took a 7.5 million dollar bad debt charge and a 5.0 million dollar inventory write-down on it. In 2025 Distributor B accounted for 46 percent of revenue and Distributor C for 11 percent. The company says that in prioritising high power markets it reduced the overall number of distributors it works with and placed additional reliance on a few key distribution partners. [24, 58, 59, 60, 25]

China. China is still where most of what Navitas sells ends up, but by less than before: 47 percent of 2025 revenue by the home country of the end customer, against 60 percent in 2024. It is also the market the company says it is stepping back from, having de-emphasized mobile charging, low end consumer electronics and China based segments to lift what it calls revenue quality and profitability, and it is the decline the filing blames for the year's fall in sales. [29, 26, 56]

United States. The American share went the other way, from 16 percent of revenue in 2024 to 28 percent in 2025, the biggest move in the table. The filing does not break the increase down, but it is the geography of the four markets the company says it now chases: AI data centres, energy and grid infrastructure, performance computing and industrial electrification, sold through partnerships with hyperscale operators, graphics processor vendors and large contract makers on 800 volt direct current architectures. [29, 26, 27]

Europe. Europe rose from 8 percent of revenue in 2024 to 14 percent in 2025. The filing reports it as a single line and says it is impractical to give the figures for individual European countries, so there is nothing behind the number in the document itself. [29, 30]

Asia excluding China. Asia outside China slipped from 15 percent of revenue in 2024 to 11 percent in 2025. Counting the continent as a whole, the company says 58 percent of net sales went to end customers in Asia in 2025 against 75 percent a year earlier, so the retreat is region wide rather than Chinese alone. Asia is also where the work gets done: a significant amount of its subcontractors and suppliers are in Taiwan, and assembly and test also run in the Philippines. [29, 61, 38]

The cost side moved further than the sales side. Research and development fell by 26.2 million dollars, or 34 percent, to 49.8 million, and selling, general and administrative by 27.7 million, or 44 percent, to 35.2 million, mostly on lower stock based pay after senior managers left and on headcount taken out in the reductions since the third quarter of 2024. Against that the company booked 18.0 million dollars of restructuring and impairment charges for 2025, of which 16.6 million belonged to the Navitas 2.0 plan and 1.4 million to the January plan, plus about 4.0 million of chief executive transition and governance costs. The Navitas 2.0 plan is the sales story as much as the cost story: it pairs the workforce cut with distributor rationalisation, contract terminations and fixed asset write-downs. [62, 63, 64, 65, 18, 66]

What comes next, in the company's own words: it intends to build on its product and technology innovation to pursue sustainable, high quality growth in markets it says are driven by AI workloads, electrification and grid modernization, and it has deliberately left electric vehicles and low voltage silicon carbide out of the markets it aims at. It says the pivot is expected to improve business predictability, expand gross margin and support a scalable and sustainable operating model. It also says it expects to keep incurring net operating losses and negative cash flows from operations, with research, administrative spending and capital spending staying about flat, and to fund its requirements from the cash it holds. [67, 68, 69, 66, 70, 71]

What the desk infers (inferred, not filed)

• Navitas has not reduced its dependence on one distributor so much as changed which one: after cutting off the partner that carried more than half its sales, a single different distributor now carries close to half. Because: Distributor A accounted for 56 percent of 2024 revenue, and the company terminated that distribution agreement at the end of 2024, taking a 7.5 million dollar bad debt charge on it. [58, 59] For 2025 the same table shows Distributor B at 46 percent of revenue and Distributor C at 11 percent. [58] Distributor B was also 26 percent of accounts receivable at the end of 2025, with three more distributors above a tenth. [72] The company says that in prioritising high power markets it reduced the overall number of distributors it works with and placed additional reliance on a few key distribution partners. [25] Confidence 80 of 100. Wrong if: A filing in which no single distributor reaches a tenth of the year's revenue, or one that puts the largest distributor's share below a quarter.
• The revenue Navitas lost in 2025 and the business it chose to leave are the same business: the mobile and consumer sales in China it blames for the fall are the segments it says it has de-emphasized. Because: The company puts the 45 percent fall in 2025 revenue down to the decline in the mobile and consumer markets in China. [56] It says it has de-emphasized mobile charging, low end consumer electronics and China based segments to lift revenue quality and profitability. [26] China fell from 60 percent of revenue by end customer in 2024 to 47 percent in 2025, while the United States rose from 16 percent to 28 percent. [29] The Navitas 2.0 plan shifts the company away from consumer oriented, short life cycle segments toward long term programs in AI data centres, energy and grid infrastructure, performance computing and industrial electrification. [66] Confidence 78 of 100. Wrong if: A filing that attributes the fall in sales to design losses to a named competitor in the high power markets, or that reports the mobile and consumer business growing in a year when total revenue fell.
• The pivot is being paid for by investors rather than by the business: the money that arrived in 2025 came from selling shares, while operations consumed cash for the sixth year running. Because: Cash and cash equivalents stood at 236.9 million dollars at the end of 2025, up 150.1 million or 173 percent, which the company attributes to its private placement and its at the market offerings. [73] The private placement closed in November 2025 with gross proceeds of about 100.0 million dollars, and the two at the market programmes together raised about another 100.0 million by 30 June 2025. [74, 75] Operations used 42.9 million dollars of cash in 2025 against a net loss of 117.0 million, and the filed record shows cash used in operations in every year from 2020. [76, 57] The company says it expects to keep incurring net operating losses and negative cash flows from operations, and to fund its requirements from cash on hand. [70, 71] Confidence 88 of 100. Wrong if: A year in which operating activities provide cash, or in which the company funds its spending from borrowing or from earnings rather than from money raised by selling shares.
• For all the foundry partners it names, Navitas still leans on one fab for each of its two technologies, and the second source it is building for gallium nitride is American rather than a second Asian plant. Because: The company says it has historically relied on a single foundry to produce wafers for gallium nitride power chips and a separate single foundry for silicon carbide transistors, and that losing either relationship could have a substantial negative effect. [77] It names TSMC in Taiwan as its existing gallium nitride wafer fabrication partner and GlobalFoundries as its United States based gallium nitride partner. [35] It says a significant amount of its subcontractors and suppliers, including the foundry that has historically supplied gallium nitride wafers, are in Taiwan. [38] It presents its United States foundry partners, GlobalFoundries for gallium nitride and X-Fabs for silicon carbide, as a competitive advantage in markets with national security implications. [36] Confidence 80 of 100. Wrong if: A filing that reports two or more foundries in volume production for the same product family, or that drops the single foundry language from the supplier concentration note.

Sources

1. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Mr. Allexandre joined Navitas as President, Chief Executive Officer and Board member in September 2025. Mr. Allexandre is a seasoned semiconductor executive with over two decades of global leadership experience across Sales, Marketing, Operations, and Business Unit management. He has held senior executive roles at leading semiconductor companies including Texas Instruments, Fairchild (ON Semiconductor), NXP, IDT, and Renesas Electronics.”
2. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Before joining Navitas, Mr. Allexandre served as Senior Vice President and General Manager of Power Division at Renesas, overseeing the company’s power management and discrete product lines ($2.5 billion in revenue). Prior to that, he was Chief Sales & Marketing Officer, leading Renesas’ global sales and marketing transformation.”
3. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Tonya Stevens joined Navitas as Senior Vice President, Chief Financial Officer and Treasurer in March 2026, bringing more than three decades of global finance and accounting leadership experience across the semiconductor, technology, and manufacturing sectors.”
4. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Ms. Stevens joined Navitas from Lattice Semiconductor, where she served as Chief Accounting Officer and previously as Interim Chief Financial Officer.”
5. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Prior to Lattice, she held senior finance leadership positions at Intel Corporation, Acumed, American Veterans Security and PricewaterhouseCoopers.”
6. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “the Company and Todd Glickman, the former Senior Vice President, Chief Financial Officer and Treasurer of the Company, reached a mutual decision regarding his departure to pursue new opportunities, with Mr. Glickman agreeing to remain with the Company as a consultant through March 30, 2026 to ensure continuity and a smooth transition of the leadership of the Company’s finance and accounting function to the incoming Chief Financial Officer and Treasurer”
7. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Mr. Sheridan resigned as President and CEO, and as a director of the Company, effective as of August 31, 2025.”
8. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “to ensure a clear transfer of authority while continuing to provide the Company with the benefits of Mr. Sheridan’s 11-year tenure as the founding CEO, the agreement requires that all such support by Mr. Sheridan will occur only if requested by Mr. Allexandre.”
9. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Mr. Hendrix has been a member of the Board since October 2021. He has served as chair of the Board since April 2025 pursuant to the previously disclosed agreement of that date between the Company, on the one hand, and Ranbir Singh and SiCPower, LLC, on the other hand. Mr. Hendrix served as chief executive officer and a member of the board of directors of the Company’s predecessor entity (then named Live Oak Acquisition Corp. II) from August 2020 to the closing of the Business Combination (as defined below) in October 2021.”
10. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Pursuant to the agreement, the Company accepted the resignation of Mr. Sheridan as chair of the Board and appointed Mr. Hendrix as chair. The Company also agreed to nominate a new independent director as a Class I director on the Board, to be identified and recommended by Dr. Singh to the Governance and Sustainability Committee of the Board, subject to the committee’s approval in accordance with customary procedures for new director candidates.”
11. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Also, pursuant to the agreement, the Company further agreed to form an Executive Steering Committee of the Board, to be chaired by Dr. Singh with Mr. Hendrix and Mr. Moxam as members. The Board has delegated to the Executive Steering Committee responsibility for the oversight of certain strategic matters, including to review and offer recommendations on capital allocation, expense management and certain senior hiring and succession planning processes.”
12. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Pursuant to the agreement, Dr. Singh recommended, the Governance and Sustainability Committee approved and, on May 8, 2025, the Board appointed Mr. Amoruso to a Class I directorship. Under the terms of the agreement, the Company also accepted Mr. Kinzer’s resignation from the Board effective upon Mr. Amoruso’s appointment.”
13. The record on this page: the officers and directors who file Forms 3, 4 and 5 (the SEC's insider data sets)
14. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Our common stock has been listed on the Nasdaq Global Market under the ticker symbol “NVTS” since October 20, 2021.”
15. Navitas Semiconductor Corporation, Form DEF 14A filed 2026-05-11: “Dr. Singh as previously a member of Navitas’ senior management team following the Company’s acquisition of GeneSiC Semiconductor Inc. (“GeneSiC”) on August 15, 2022, including as Executive Vice President, GeneSiC Business, until July 31, 2024. Dr. Singh was previously President and CEO of GeneSiC, which he founded in 2004.”
16. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “As of December 31, 2025, our worldwide workforce consisted of approximately 190 full and part-time employees. We pride ourselves on our global workforce, located in the United States (32%), Asia Pacific (65%) with the remainder in Europe (3%).”
17. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “On January 20, 2025, the Company announced an additional cost-reduction plan (“2025 Restructuring Plan”) aimed at further streamlining operations and enhancing its focus on AI data centers, EV, and mobile applications. The plan included a 19% reduction in workforce, with most associated costs related to severance and stock-based compensation.”
18. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “During the fourth quarter of 2025, the Company announced the Navitas 2.0 Restructuring Plan (“Restructuring Plan”) to further streamline its organization and enhance operational efficiency in support of its long-term growth strategy across high-priority markets, AI data centers, energy and grid infrastructure, performance computing and industrial electrification. The plan primarily consists of a 19% targeted workforce reduction and organizational realignments, with associated costs largely related to employee severance and benefits, contract termination costs, and fixed asset impairments.”
19. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Navitas Semiconductor Corporation (“we,” us,” “Navitas” or the “Company”) designs, develops and markets next-generation power semiconductors including gallium nitride (GaN) power integrated circuits (ICs), high-voltage silicon carbide (SiC) devices and associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. We focus on high-power markets including artificial intelligence (“AI”) data centers, energy and grid infrastructure, performance computing and industrial electrification.”
20. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “By leveraging the unique properties of wide bandgap (WBG) materials such as GaN and SiC, our solutions enable higher power throughput, higher voltage operation, improved thermal performance, and reduced system size and cost, which are critical advantages for high-power applications such as hyperscale and AI data centers, grid electrification, high-performance computing clusters, and industrial automation.”
21. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “GaNFast™ power ICs integrate drive, control, and protection to enable 100x faster switching and up to 40% energy savings over incumbent silicon-based technology. GeneSiC™ Technology features patented "trench-assisted planar" MOSFETs for high-voltage (up to 6.5kV) applications.”
22. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “As of December 31, 2025, we have shipped over 300 million GaN devices and nearly 30 million SiC devices with proven quality and field-reliability performance.”
23. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Our revenue represents the sale of semiconductors through specialized distributors to original equipment manufacturers (“OEMs”), their suppliers and other end customers.”
24. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “A majority of the Company’s revenues are attributable to sales of the Company’s products to distributors of electronic components. These distributors sell the Company’s products to a range of end users, including OEMs and merchant power supply manufacturers.”
25. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “The use of distributors is an important part of our business model and we rely on a few key distributors to manage key customers and markets. This is especially true following our announcement that we will prioritize high-power markets. As a result of this change in our business, we reduced the overall number of distributors that we work with and placed additional reliance on a few key distribution partners.”
26. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We have refocused on four priority markets: (1) AI data centers, (2) and energy and grid infrastructure, (3) performance computing, and (4) industrial electrification. We have de-emphasized mobile charging, low end consumer electronics, and China-based segments to enhance revenue quality and profitability.”
27. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We leverage deep design expertise and strategic partnerships with leading hyperscalers, GPU vendors, Tier-1 OEMs and ODMs, and platform providers to develop differentiated solutions for next-generation architectures, including 800 VDC systems.”
28. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Comprehensive design support, proprietary process design kits, and dedicated application design centers (standalone or joint labs with partners) accelerate customer adoption and integration.”
29. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We consider the domicile of our end customers, rather than the distributors we sell to directly to be the basis of attributing revenues from external customers to individual countries. Revenue for the twelve months ended December 31, 2025 and 2024, excluding channel inventories, were attributable to end customers in the following countries: Year Ended December 31, Country 2025 2024 China 47 % 60 % United States 28 % 16 % Asia excluding China 11 % 15 % Europe* 14 % 8 % All others — % 1 % Total 100 % 100”
30. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Impractical to disclose revenue percentages by individual countries within Europe and therefore is presented in total.”
31. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Region 2025 2024 Hong Kong 57 % 64 % Rest of Asia 21 % 18 % US 10 % 9 % China 9 % 4 % Europe 3 % 4 % All Other — % 1 % Total 100 % 100”
32. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We do not own any real property. We lease approximately 50,000 square feet of corporate office and research and development space in Torrance, California. We also lease office, research and development, and design center space in Shanghai, Shenzhen and Hangzhou, China; Hsinchu and Taipei, Taiwan; and Seoul, Korea.”
33. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “The Company presently operates as a product design house that contracts the manufacturing of its chips and packaging to partner suppliers.”
34. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Epitaxial (Epi) Wafer and Substrate Sourcing: We source epitaxial wafers and silicon substrates from multiple qualified suppliers across the United States and Asia, ensuring supply redundancy and cost competitiveness. These materials form the foundation of our GaN-on-Si and SiC device structures.”
35. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “For GaN products, our existing wafer fabrication partner is TSMC located in Taiwan. Our US based GaN fabrication partner is GlobalFoundries. We have two additional wafer fabs supporting GaN and CMOS technologies in Asia.”
36. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “As a result, we consider our collaboration with United States based foundry partners, specifically GlobalFoundries for GaN and X-Fabs for SiC, to be a competitive advantage, as we believe that foreign semiconductor companies and companies that rely on foreign supply chains will be disadvantaged in these critical markets.”
37. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Assembly and Packaging: Following wafer fabrication, processed wafers are shipped to assembly subcontractors primarily located in Asia, where they undergo dicing, die attach, wire bonding, and packaging operations. We qualify multiple assembly houses for each product family to mitigate concentration risk and maintain production continuity.”
38. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “A significant amount of the Company’s third-party subcontractors and suppliers, including the third-party foundry that has historically supplied wafers for GaN power ICs, are located in Taiwan. A significant amount of the Company’s assembly and test operations are conducted by third-party contractors in Taiwan and the Philippines.”
39. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Gallium, the primary material in our GaN products, is produced as a byproduct of aluminum refining (bauxite processing).”
40. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Each Navitas GaN power IC contains approximately 95 micrograms of gallium”
41. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Navitas Semiconductor Corporation was originally incorporated as Live Oak Acquisition Corp. II. On October 19, 2021, as part of a series of related transactions (which we refer to as the “Business Combination”), the registrant acquired all of the equity interests of Navitas Semiconductor Limited, an Irish private company domesticated in Delaware as Navitas Semiconductor Ireland, LLC (collectively, “Legacy Navitas”) and changed the name of the registrant to Navitas Semiconductor Corporation.”
42. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Legacy Navitas was founded in 2014, and since that time, has successfully harnessed the fundamentally superior material properties of GaN to enable cost savings and enhanced power conversion. With ten-times stronger electrical fields and twice the electron mobility compared to silicon, GaN is ideally suited for disrupting power switching applications, but challenges around process, quality and reliability made commercialization difficult.”
43. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “In August 2022, Navitas acquired GeneSiC Semiconductor, adding a broad range of SiC MOSFETs and diodes to the Navitas portfolio. GeneSiC proprietary trench-assisted planar-grade MOSFET technology combines the best of planar SiC (ease of manufacturing, robustness) with the best of trench SiC (low resistance, smaller die sizes).”
44. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We believe we have one of the most robust power semiconductor patent portfolios, with more than 300 issued or pending patents worldwide. In October 2024 we entered into a broad patent cross-license with Infineon Technologies AG, demonstrating the value of our patent portfolio.”
45. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “An additional element of our intellectual property is our GaN IC process design kit (PDK), which we use to facilitate and accelerate product implementation and end customer development.”
46. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “In addition, U.S. regulatory initiatives over the past several years have classified certain semiconductor technologies as “critical to national security,” including compound semiconductors and wide bandgap semiconductors. Both GaN and SiC are compound semiconductors and wide bandgap semiconductors.”
47. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Our primary GaN competitors include Infineon Technologies AG, Power Integrations, Inc., Texas Instruments Incorporated, Innoscience (Suzhou) Semiconductor Co., Ltd., Renesas Electronics Corp., and Efficient Power Conversion Corporation (EPC). Our primary SiC competitors include Infineon, Wolfspeed, Inc., ON Semiconductor Corporation, ROHM Co., Ltd., Qorvo, Inc., and STMicroelectronics International N.V.”
48. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Many of our competitors have significantly greater financial resources than we do, meaning they are better positioned to weather adverse market conditions or make opportunistic acquisitions. Most suppliers of GaN-based devices today offer discrete (i.e., non-integrated) GaN solutions, which require silicon-based and other components for drive, control and protection.”
49. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Silicon-based power devices are still the incumbent solutions used for power applications and currently have a lower-cost advantage.”
50. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “During 2025, we successfully completed the remediation of the material weaknesses in our internal control over financial reporting that were previously identified in connection with the audit of our consolidated financial statements for the year ended December 31, 2024.”
51. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “As a result of these actions, management concluded that our internal control over financial reporting was effective as of December 31, 2025, and that the previously identified material weaknesses have been fully remediated.”
52. Navitas Semiconductor Corporation, Form 8-K filed 2026-08-25: “On August 24, 2026, Navitas Semiconductor Corporation (“Navitas” or the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Claros, Inc., a Delaware corporation (“Claros”), Compass Merger Sub 1 Inc., a Delaware corporation and a wholly-owned subsidiary of the Company (“Merger Sub 1”), Compass Merger Sub 2 LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company (“Merger Sub 2”)”
53. Navitas Semiconductor Corporation, Form 8-K filed 2026-08-25: “The aggregate purchase price pursuant to the Merger Agreement is estimated to be approximately $232.8 million, of which approximately $126.4 million of the purchase price will be payable at closing in cash, approximately $89.7 million of the purchase price will be payable at closing in approximately 6.9 million shares of the Company’s Class A common stock”
54. Navitas Semiconductor Corporation, Form 8-K filed 2026-08-25: “Subject to satisfaction or waiver of the conditions of the Merger Agreement, the Company currently anticipates the closing of the Mergers to occur prior to December 31, 2026; however, there can be no assurance that the Mergers will close before December 31, 2026, or at all.”
55. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “The CODM primarily evaluates consolidated net profit (loss) as the measure of segment profit or loss. While product-level data is available internally, it is not used for performance evaluation or resource allocation.”
56. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Net revenues for the twelve months ended December 31, 2025 were $45.9 million compared to $83.3 million for the twelve months ended December 31, 2024, a decrease of $37.4 million, or 45%. The decrease in sales was mainly due to the decline in the mobile and consumer markets in China.”
57. The record on this page: the filed annual figures (EDGAR's company facts)
58. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “The following customers represented 10% or more of the Company’s net revenues (in thousands) for the twelve months ended December 31, 2025 and 2024: Year Ended December 31, Customer 2025 2024 Distributor A * 56 % Distributor B 46 % * Distributor C 11”
59. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “At the end of 2024, the Company terminated its distribution agreement with Distributor A. As a result of this termination, the Company incurred a bad debt expense of $7.5 million included in Selling, general, and administrative expenses for the year ended December 31, 2024.”
60. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “The Company had acquired inventory, which was intended to be primarily sold through this distributor. Given the termination, the Company re-evaluated the recoverability of its inventory and recorded a write-down of $5.0 million to Cost of revenues for the year ended December 31, 2024.”
61. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “For the years ended December 31, 2025 and December 31, 2024, approximately 58% and 75%, respectively, of our net sales were to end customers in Asia.”
62. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Research and development expense for the twelve months ended December 31, 2025 of $49.8 million decreased by $26.2 million, or 34%, when compared to the twelve months ended December 31, 2024, primarily driven by lower stock-based compensation of approximately $10.7 million, which was primarily due to the resignation of a senior management member resulting in reversal of $4.2 million related to our long-term incentive plan, coupled with a reduced headcount and employee-related costs of $10.1 million from our workforce reduction due to restructuring since the third quarter of 2024”
63. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “Selling, general and administrative expense for the twelve months ended December 31, 2025 of $35.2 million decreased by $27.7 million, or 44%, when compared to the twelve months ended December 31, 2024. This is primarily driven by a decrease in stock-based compensation of approximately $17.8 million largely resulting from the reversal of $12.6 million following the separation of senior management members related to our long-term incentive plan.”
64. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “This was partially offset by approximately $4.0 million in CEO transition costs and governance costs in 2025.”
65. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We announced cost-reduction plans that include streamlining distribution channels, reductions in headcount, and impairment of fixed assets. We incurred $18.0 million of restructuring and impairment expenses for the year ended December 31, 2025, of which $16.6 million was related to the Navitas 2.0 Restructuring Plan and $1.4 million was related to the 2025 Restructuring Plan.”
66. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “The Navitas 2.0 Restructuring Plan shifts the Company away from consumer-oriented, short-life-cycle segments toward long-term programs in AI data centers, energy and grid infrastructure, performance computing and industrial electrification. This pivot is expected to improve business predictability, expand gross margin, and support a scalable and sustainable operating model. To enable this transition, we took several decisive actions focusing on 1) distributor rationalization, 2) resource realignment, 3) technology roadmap acceleration, and 4) go-to-market restructuring.”
67. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “In late 2025, we announced a strategic pivot that we called “Navitas 2.0,” which entailed an enhanced focus on high-power markets, including AI data centers, energy and grid infrastructure, performance computing and industrial electrification, and a de-emphasis on mobile and consumer products.”
68. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We intend to build on our heritage of product and technology innovation to pursue sustainable, high-quality growth by targeting markets experiencing structural demand growth driven by AI workloads, electrification and grid modernization.”
69. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We have intentionally excluded electric vehicles (EV) and low-voltage SiC from our target market, as we intend to focus on high-margin, sustainable opportunities in high power markets.”
70. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We expect to continue to incur net operating losses and negative cash flows from operations and we expect our research and development expenses, general and administrative expenses and capital expenditures will remain relatively flat.”
71. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “We currently expect to fund our cash requirements through the use of cash and cash equivalents on hand. We believe that our current levels of cash and cash equivalents are sufficient to finance our operations, working capital requirements and capital expenditures for the foreseeable future.”
72. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “The following customers represented 10% or more of the Company’s accounts receivable: As of December 31, Customer 2025 2024 Distributor A1 * 44 % Distributor B 26 % * Distributor C 18 % * Distributor D 13 % * Distributor E 12”
73. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “As of December 31, 2025, our balance of cash and cash equivalents was $236.9 million, which is an increase of $150.1 million or 173% compared to December 31, 2024, driven by our PIPE and ATM offerings.”
74. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “The transaction closed on November 10, 2025, with Needham & Company as sole placement agent, resulting in gross proceeds of approximately $100.0 million and offering-related costs of $4.4 million. Net proceeds are being used for working capital and general corporate purposes, including support of strategic initiatives in high-power markets.”
75. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “As of June 30, 2025, we completed the sale of shares under both ATM One and ATM Two resulting in approximately 11.1 million shares under ATM One and 8.7 million shares under ATM Two, with gross proceeds of approximately $100.0 million and offering-related costs of $3.3 million in total.”
76. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “For the year ended December 31, 2025, net cash used in operating activities was $42.9 million, which primarily reflects a net loss of $117.0 million”
77. Navitas Semiconductor Corporation, Form 10-K filed 2026-02-27: “The Company has historically relied on a single foundry to produce wafers for GaN power ICs and a separate single foundry to produce SiC Metal Oxide Semiconductor Field Effect Transistors (“MOSFETs”). Loss of the relationship with either of these suppliers could have a substantial negative effect on the Company.”

Who runs it

Hendrix, Richard J (Chief Executive Officer); Allexandre, Chris (PRESIDENT AND CEO); Wunderlich, Gary Kent Jr (President); Stevens, Tonya (Chief Financial Officer); Glickman, Todd (Sr. V.P., CFO & Treasurer); Singh, Ranbir (EVP, GeneSiC Business); Amoruso, Cristiano (director); Fischer, Gregory Michael (director); Lee, Davin (director); Long, Brian (director); and 2 more. 12 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.

This file: Overview · Past · Present · Future · Filings · every company on file

Every stock is a company. We grade the company behind the stock. CrossAssetData is a company research product: no investment advice, no price targets, no price predictions; every claim carries its source, and unseen means unseen. The full file draws when the page's script runs: the essentials, the balance sheet, the estimators, the trend, and every filing of the last ten years.