Navitas Semiconductor reports Q4 EPS (4c), consensus (5c)

Reports Q4 revenue $26.06M, consensus $25.45M. “I am pleased to announce a record fourth quarter that caps off a year of more than doubling revenue for Navitas as we demonstrated strength across multiple markets,” said Gene Sheridan, CEO and co-founder. “While we are not immune to first half 2024 market headwinds, we see revenue growth accelerating in the second half based on our strong customer pipeline including major new wins in AI data centers, home appliances, solar inverters and a major satellite internet roll-out – all of which positions Navitas for strong growth in 2024 and beyond.”