Navitas Semiconductor reports Q3 EPS (4c), consensus (5c)

Reports Q3 revenue $22.0M, consensus $21M. “”I am pleased to announce another record quarter for Navitas as our gallium nitride and silicon carbide technologies continue to displace legacy power silicon in traditional markets and enable and accelerate new energy markets,” said Gene Sheridan, CEO and co-founder. “It’s a very exciting time at Navitas as we launch four major new technology platforms across GaN and SiC. We expect Navitas’ revenues to far exceed market growth rates in 2024 and for years to come.”