News: Microelectronics
7 December 2023
Navitas ranked top 50 in Forbes’ 2024 Most Successful Small Companies
Gallium nitride (GaN) power IC and silicon carbide (SiC) technology firm Navitas Semiconductor Corp of Torrance, CA, USA has secured 49th position on Forbes’ 2024 America’s Successful Small Companies list. The ranking is recognition of the firm’s growth based on strong demand for its 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 (Q3/2022 to Q3/2023).
On 12 December (from 12:30pm Pacific/3:30pm US Eastern), Navitas is hosting an in-person 2023 Investor Day at its new Torrance HQ (with livestream). Highlights include four major new GaN/SiC technology platforms and focus markets, plus customer testimonials and a refresh on the $1bn+ customer pipeline, plus 2024 and long-term financial outlook.
“The top 50 ranking is great recognition by Forbes for Navitas’ growth,” says co-founder & CEO Gene Sheridan. “GaN and SiC are accelerating the transition away from fossil fuels to ‘Electrify Our World’ with renewable sources and efficient uses of electricity,” he adds. “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.”
Navitas showcasing GaN and SiC power semis at Bodo’s Wide Bandgap Event
Navitas’ revenue grows 22% sequentially in Q3
