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Navitas Semiconductor (Nasdaq: NVTS) announced CEO Gene Sheridan will speak at the 36th CS MANTECH conference in Monterey, California, from May 9-12, 2022. His presentation, titled ‘GaN’s expected Impact on the Power Electronics Industry to Electrify Our World’, will address the transition from silicon to gallium nitride (GaN) technologies in power electronics. GaNFast™ ICs promise enhanced energy efficiency and reduced CO2 emissions, potentially saving over 10 million tons of CO2 annually in datacenters and accelerating EV adoption by 3 years.
Navitas Semiconductor (Nasdaq: NVTS) has joined PowerAmerica, a consortium focused on advancing gallium nitride (GaN) and silicon carbide (SiC) technologies. This collaboration aims to accelerate the adoption of wide-bandgap (WBG) semiconductors, which offer significant improvements over traditional silicon in terms of speed, power, and energy efficiency. Navitas' innovative GaNFast™ power ICs enable faster charging and energy savings, with a notable track record of zero field failures. The company will also host a seminar at the PowerAmerica 2022 Summer Workshop to showcase these advancements.
Navitas Semiconductor (NASDAQ: NVTS) is leveraging its leadership in gallium nitride (GaN) technologies to expand into data centers, solar, and electric vehicle markets. The company will showcase its GaNFast power integrated circuits at PCIM 2022 in Nuremberg, Germany, from May 10 to 12. Navitas has achieved over 40 million shipments with zero reported failures and offers a benchmark 20-year warranty. CEO Gene Sheridan emphasized the strategic importance of Europe and highlighted partnerships with companies like Samsung and Xiaomi in the transition to higher-power applications.
Navitas Semiconductor Corporation (NVTS) reported a significant 100% increase in net revenues for 2021, totaling $23.7 million. The fourth quarter alone saw revenues rise to $7.3 million, reflecting a 30% growth from Q3. Gross margin improved to 45.0%, up from 31.4% year-over-year. However, the company faced a GAAP net loss of $35.9 million in Q4, despite a reduced non-GAAP net loss. Navitas is now in production with eight out of ten top mobile customers and aims to double its revenues in 2022, estimating $48 million. The firm also published its first sustainability report.
Navitas Semiconductor Corporation (Nasdaq: NVTS, NVTSW) announced its decision to redeem all outstanding publicly traded and privately held warrants for $0.10 each, effective at 5:00 p.m. on March 7, 2022. This redemption follows compliance with specific stock price conditions under the Warrant Agreement. Warrant holders can exercise their rights until the redemption deadline, with options for cash or a cashless exercise method. If unexercised, the warrants will become void. Navitas, a leader in GaN power ICs, has reported over 35 million units shipped, adhering to strict quality standards.