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what it is
Navitas makes power chips that help chargers, data centers, and industrial gear waste less electricity and handle more power.
how it gets paid
Last year Navitas Semi made $46M in revenue. gallium nitride power ics was the main engine at $18.4M, or 40% of sales.
why growth slowed
Revenue fell 44.9% last year. The number that mattered was $39 million of quarterly revenue.
what just happened
The quarter looked better on sales, but $39M of revenue still came with an EPS loss of -$0.43.
At a glance
B+ balance sheet — decent shape, but not bulletproof
-$0.57 fy2025 eps est
$46M fy2025 rev est
-234.7% operating margin (deep operating loss)
1.8 beta
xvary composite: 58/100 — below average
What they do
Navitas makes power chips that help chargers, data centers, and industrial gear waste less electricity and handle more power.
Navitas sells into a part of semiconductors where efficiency decides whether your power system runs cooler or cooks itself. Its edge is wide-bandgap materials (GaN and SiC → newer chip materials that handle more power with less waste → customers care when electricity and heat are the problem). The catch is scale: Navitas has just 190 employees and $46 million of annual revenue, so the technology may be real while the business is still proving it.
How they make money
$46M
annual revenue · their business grew -44.9% last year
gallium nitride power ics
$18.4M
dn
silicon carbide devices
$13.8M
up
high-speed silicon controllers
$6.9M
flat
digital isolators
$4.6M
flat
other power conversion products
$2.3M
flat
The products that matter
fast chargers and adapters
GaN Power ICs
~$18.4M · ~40% of sales (GaN row)
This part of the story points to a large GaN TAM by 2030, but today’s company-wide revenue is only ~$46M. Big addressable markets are nice; shipped volume pays you.
consumer power
EV, solar, and data-center power
GeneSiC SiC
~$13.8M · SiC row (~30% of sales)
Higher-power SiC is the pivot versus consumer GaN; the ~$13.8M line here is from the revenue map, not an even 50/50 split.
higher-power bet
Key numbers
5/100
price stability
This stock scores 5 out of 100 on price stability, which means you should expect sharp swings rather than a smooth ride.
-234.7%
operating margin
Negative operating margin → losses at the operating line exceed revenue in this scrape → treat the level as distressed, not “high margin.”
$46M
annual revenue
Revenue → money collected from customers → so what: this is still a very small semiconductor company for a roughly $2 billion market cap.
1.8
beta
Beta → how hard the stock swings versus the market → so what: if indexes wobble, this usually wobbles harder.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 5 / 100
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for NVTS right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The quarter looked better on sales, but $39M of revenue still came with an EPS loss of -$0.43.
Revenue jumped 282% vs. prior year in the latest quarter, but annual revenue still fell 44.9% to $46 million. That contrast is the whole stock: one hot quarter versus a very small and still unprofitable business.
$39M
quarter revenue
-$0.43
eps
38.7%
gross margin
the number that mattered
The number that mattered was $39 million of quarterly revenue, because it was 85% of the entire prior year's $46 million revenue base.
source: company earnings report, 2026
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What could go wrong
the #1 risk is whether the claimed $7.3M revenue bottom actually leads to sustained recovery.
med
revenue stays stuck
Last quarter revenue was $7.3M, down 59% from a year ago. Management says that was the bottom, but the next guide only moves to $8.0M–$8.5M.
If the recovery stalls at this scale, a ~$2B equity value becomes very hard to defend.
med
profitability keeps slipping out
Most models point to break-even by late 2026 or early 2027, and that assumes 40%+ gross margins. Small revenue misses can push that timeline around fast.
If gross margins do not hold above that level, losses can persist well past the timeline investors are underwriting today.
med
litigation and government matters
Company filings cite risks tied to litigation and government matters. For a business this small, legal and regulatory distractions can hit harder than they would at scale.
The cost is not just legal expense. It is management attention, commercial credibility, and a slower path to customer wins.
At ~$2B in market value against less than $50M of annual sales, there is almost no room for another false dawn.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
q1 2026 earnings report
Expected May 7, 2026. The number that matters is whether revenue lands inside the $8.0M–$8.5M guide and keeps the "bottom" thesis alive.
margin
40%+ gross margin path
Break-even by late 2026 or early 2027 depends on this. If gross margin slips, the math stops working fast.
adoption
GeneSiC launch follow-through
The March 11, 2026 product launch only matters if it turns into customer adoption in EVs, solar, or data-center power.
risk
litigation and government updates
Filings already flag these issues. If they expand, they can crowd out the recovery story you are paying for.
Analyst rankings
earnings outlook
-$0.57
in human-speak, analysts are still modeling another year of losses.
revenue outlook
$46M
The street sees a business this year, not a scale story yet. That is why every quarter carries outsized weight.
coverage quality
thin
That means you should underwrite the operating story yourself instead of outsourcing conviction to a target sheet.
source: institutional data
Institutional activity
institutional ownership data for NVTS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$8
current price
n/a
target midpoint · n/a from current
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