Key Highlights

  • Third-quarter 2026 Revenue was USD 14.0 million, up 33% from USD 10.5 million in the second quarter and up 38% from USD 10.1 million a year earlier.
  • Non-GAAP gross Margin was 40.0%, compared with 38.7% in the third quarter of 2025.
  • The GAAP net loss was USD 37.1 million, against USD 19.2 million a year earlier.
  • Cash stood at USD 531.5 million on September 30, 2026, up from USD 236.9 million at year-end 2025.
  • Fourth-quarter revenue guidance is USD 16.0 million, plus or minus USD 0.5 million.

What Moved Navitas Before the Open (up USD 0.7002, 8.18%)

Navitas Semiconductor (NASDAQ:NVTS) gained USD 0.7002, or 8.18%, to USD 9.26 in pre-market trading on November 4, 2026. The advance followed the third-quarter 2026 results, released on November 3, 2026 after the close of regular trading.

Management also said it expects mobile and low-end consumer revenue to be essentially eliminated from its mix by year-end.

The Third-Quarter Numbers

According to the company release, revenue of USD 14.0 million compared with USD 10.5 million in the second quarter of 2026 and USD 10.1 million in the third quarter of 2025. GAAP gross margin was 21.5%, against 0.4% in the prior quarter and negative 2.0% a year earlier. Non-GAAP gross margin was 40.0%, versus 39.5% and 38.7%.

The GAAP net loss was USD 37.1 million, or USD 0.14 per share, compared with USD 19.2 million, or USD 0.09 per share, in the year-earlier quarter. On a non-GAAP basis, the net loss narrowed to USD 6.9 million, or USD 0.03 per share, from USD 10.2 million, or USD 0.05.

For the fourth quarter, the company guided to revenue of USD 16.0 million, plus or minus USD 0.5 million, and non-GAAP operating expenses of USD 25.0 million, including the newly acquired Claros business.

Business Background and Strategic Updates

Navitas designs gallium nitride and silicon carbide power semiconductors that convert electricity efficiently in data centers, energy storage and electric vehicles. On the earnings call, management said it expects more than 40% of fourth-quarter sales to come from AI infrastructure, which covers AI data centers and grid equipment, and about threefold growth in AI infrastructure revenue in 2027.

Recent milestones include closing the Claros Acquisition on October 6, 2026, which adds an integrated voltage regulation technology stack. The company worked with NVIDIA (NASDAQ:NVDA) on an 800 V to 12 V power delivery board. It was also selected by the U.S. government to develop 10 kV silicon carbide power devices and shipped its first U.S.-made fifth-generation GaNFast devices.

Balance Sheet and Risks

Cash of USD 531.5 million at September 30, 2026 compares with USD 236.9 million at December 31, 2025. The release reported only about USD 0.5 million of finance Lease liabilities.

Risks include sustained GAAP losses, the revenue drop-off as the legacy mobile Business is deliberately wound down, and inventory building ahead of Data Center ramps that have not yet fully arrived.

Key Points to Monitor

Investors will track whether fourth-quarter revenue lands near the USD 16.0 million guide, whether gross margin holds near 40.5%, and how quickly operating expenses rise toward USD 25.0 million with Claros included. Pre-market moves can reverse once the regular session opens.