News: Microelectronics
4 December 2024
Navitas ranked in Deloitte Technology Fast 500 list for third consecutive year
Navitas Semiconductor Corp of Torrance, CA, USA says that its revenue growth has been acknowledged for the third consecutive year by being ranked in Deloitte’s Technology Fast 500 list. Navitas’ growth was driven by strong demand for its high-efficiency, wide-bandgap gallium nitride (GaN) and silicon carbide (SiC) power components across a growing number of global markets and customers.
Now in its 30th year, the Fast 500 ranks the fastest-growing technology, media, telecoms, life sciences, fintech, and energy tech companies — both public and private — in North America. Based on percentage fiscal year revenue growth from 2020 to 2023, Navitas achieved 571% growth as GaN and SiC technology enabled efficient, sustainable applications and displaced legacy silicon chips, says the firm.
“As a ‘pure-play’ next-gen semiconductor company, Navitas continues to outperform the overall power semiconductor market, with record sales into mobile fast chargers, now ramping AI data-center revenues and a strong customer pipeline for EV opportunities,” says CEO & co-founder Gene Sheridan. “Recent introductions like GaNSafe, Gen-3 ‘Fast’ SiC, and a newly announced 48V-focused range in partnership with Infineon, have built a strong foundation for further revenue growth in applications from 20W to 20MW, and with a market opportunity of over $22bn per year.”
Deloitte ranks Navitas among top 75 fastest-growing firms in North America
