News: Microelectronics
29 July 2026
Navitas’ Q2 revenue grows 22% sequentially as high-power sector rises 50% year-on-year
For second-quarter 2026, gallium nitride (GaN) power IC and silicon carbide (SiC) technology firm Navitas Semiconductor Corp of Torrance, CA, USA has reported revenue of $10.5m, down on $14.5m a year ago but up 22% on $8.6m last quarter, and at the upper end of the $9.5–10.5m guidance range.
“Our second quarter results reflect the company’s continued strong momentum and growth in high-power markets,” says chief financial officer Tonya Stevens. Revenue from high-power markets grew more than 50% year-on-year, driving gross margin expansion.
On a non-GAAP basis, gross margin has grown further, from 38.5% a year ago and 39% last quarter to 39.5%.
Operating expenses have been cut from $16.1m a year ago to $15.5m.
Net loss has been cut from $9.8m both a year ago and last quarter to $9.3m.
Cash and cash equivalents have been boosted from $221m at the end of March to $557.4m at the end of June after raising about $373m in capital during Q2/2026.
“Our strong second quarter results and expectations for continued double-digit quarterly growth in the second half of the year demonstrate the increasing traction of our strategic shift to Navitas 2.0 and focus exclusively on high-power markets,” says president & CEO Chris Allexandre.
Recent business, customer and technology highlights are cited as:
- introducing the isolated TO product family, purpose‑built for 1.2kV to 3.3kV SiC MOSFETs, enabling direct-cooled thermal management and delivering module‑like performance in a compact discrete form factor;
- expanding the existing SiC portfolio with newly introduced 1.2kV JFET product line, to be released by early 2027 – initially targeting AI data centers, solid-state transformer and energy grid infrastructure applications, which are estimated to represent an incremental $1bn serviceable available market (SAM);
- deepened collaboration with NVIDIA’s MGX Ecosystem in support of accelerating 800V DC rack architectures for next-generation AI data centers with the demonstration of a 800V-to-6V DC–DC power delivery board at COMPUTEX 2026;
- continued advancement of growing engagements for both SiC- and GaN-based high-power solutions in support of numerous customers’ design programs and architectures across AI infrastructure, including next-generation applications in AI data centers and grid and energy infrastructure.
“With the rapid adoption of AI, we are seeing accelerated market demand to overcome critical power bottlenecks in AI infrastructure, both within AI data centers as well as the requisite grid and energy infrastructure needed to power them,” says Allexandre. “By the end of the year, Navitas will complete its transition with revenue from mobile and low-end consumer being insignificant and nearly all sales coming from high-power markets,” he adds.
“Underpinning our growing momentum is Navitas’ unique ability to deliver high-power products with both GaN and high-voltage SiC technologies, enabling the distinct power requirements across AI infrastructure applications. We are seeing an expanding backlog, record level book-to-bill, and shipping volume production samples of our GaN- and SiC-based solutions in support of multiple customer new program ramps. These production samples across GaN, HV SiC and UHV SiC include shipments in support of existing customer engagements for next-generation AI data centers targeting 800V architectures. We expect selected hyperscalers and XPU platforms to ramp in 2027 as well as accelerated uptake of new grid infrastructure products. As we execute toward a series of inflection points that will drive explosive GaN and SiC content growth in years to come, we are confident in Navitas’ ability to capitalize on the substantial and growing market opportunity for high-power solutions,” Allexandre says.
“We capitalized on the opportunity to further strengthen the balance sheet – ending the quarter with $557m in cash, increasing our flexibility to make focused strategic investments in our portfolio and capacity expansion as well as support accelerated market penetration across AI infrastructure,” notes Stevens. “We expect to deliver continued double-digit sequential growth in the third quarter, which will also represent a return to year-over-year revenue growth as well as position the company to achieve mid-single-digit revenue growth for the full year, highlighting the completed transformation to Navitas 2.0 as a high-power company.”
Third-quarter 2026 revenue to grow 28%
Navitas expects third-quarter 2026 revenue to grow to $13.5m ± $0.5m (up 28% sequentially at the mid-point). Gross margin should rise to 39.7% ± 100 basis points (up 20 basis point at the mid-point). Operating expenses are expected to be $15.5–17.5m.
The strong order backlog and demand also support continued double-digit revenue growth in Q4, contributing to expected mid-single-digit revenue growth for full-year 2026, while simultaneously having substantially exited the mobile market and completing the Navitas 2.0 transition to a high-power company.
In particular, AI infrastructure markets (including AI data centers and grid and energy infrastructure) will represent more than a third of revenue by year-end, and generate strong momentum into 2027, reckons Navitas.
Navitas collaborates with NVIDIA MGX Ecosystem to accelerate 800VDC AI infrastructure
Navitas debuts 800V–6V DC–DC power delivery board at NVIDIA GTC
Navitas’ cuts losses in Q2 despite revenue still being down year-on-year
