Navitas Semiconductor Announces Fourth Quarter and Full Year 2024 Financial Results
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Navitas Semiconductor reported a significant increase in GaN revenue, up over 50%, and achieved $450 million in design-wins, with strong growth in the Data Center and EV sectors. The company maintains a strong balance sheet and effective expense management to boost profitability.
February 24, 2025 | 9:15 pm
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Navitas Semiconductor's GaN revenue increased by over 50%, reaching a record high. The company secured $450 million in design-wins, with notable growth in Data Center and EV sectors. A strong balance sheet and expense management are expected to accelerate profitability.
The significant increase in GaN revenue and substantial design-wins indicate strong business performance and potential for future growth. The focus on high-growth sectors like Data Centers and EVs, along with a strong balance sheet, suggests a positive outlook for profitability.
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