Every 10-Q that Navitas Semiconductor Corp (NVTS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow NVTS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NVTS filings page.
Navitas Semiconductor reported weaker results for the quarter ended March 31, 2026. Net revenue fell to $8.6 million from $14.0 million a year earlier, mainly from lower mobile and consumer demand, especially in Asia and China. Cost of revenues dropped but stayed about 62% of sales, while research and development and selling, general and administrative costs remained high relative to revenue.
The company posted a net loss of $33.8 million versus $16.8 million last year, or -$0.15 per share compared with -$0.09. Results were further affected by a $7.9 million loss from the change in fair value of earnout liabilities and $10.3 million of stock-based compensation. Navitas ended the quarter with $223.4 million in cash, cash equivalents and restricted cash and used $16.4 million in operating cash flow, while continuing its Navitas 2.0 restructuring to emphasize high-power markets such as AI data centers and energy infrastructure.
Navitas Semiconductor (NVTS) reported a weaker Q3 2025. Net revenues were $10.1 million, down from $21.7 million a year ago, and the company posted a net loss of $19.2 million, or $0.09 per share. Loss from operations was $19.4 million.
For the first nine months, revenue was $38.6 million versus $65.3 million in 2024, with a net loss of $85.1 million. Cash and cash equivalents rose to $150.6 million from $86.7 million at year-end, supported by $100.0 million of gross proceeds from two at-the-market equity offerings completed in Q2. Operating cash flow for the nine months was negative $34.8 million.
The earnout liability increased to $30.9 million, creating a $0.8 million loss in Q3 and $20.7 million loss year-to-date from fair value changes. Shares outstanding were 214,939,135 Class A as of October 30, 2025. Management highlighted supplier concentration risk as TSMC plans to cease GaN production in July 2027; Navitas is collaborating with Powerchip, with initial qualification expected in Q4 2025 and mass production targeted for H1 2026.
Navitas Semiconductor (NVTS) Q2 2025 10-Q highlights:
- Revenue: $14.5 m, down 29% YoY; H1 2025 revenue $28.5 m, down 35%.
- Gross margin: 16% vs. 39% prior-year as gross profit fell to $2.3 m.
- Operating expenses: Cut 39% YoY to $24.0 m, driven by lower R&D (-39%) and SG&A (-50%) plus restructuring.
- Operating loss: -$21.7 m vs. -$31.1 m; however, a $28.0 m mark-to-market loss on earn-out liabilities pushed net loss to -$49.1 m (EPS -$0.25) versus -$22.3 m (-$0.12).
- Cash: $161.2 m (up 86% from FY-end) after raising $100 m via two at-the-market (ATM) offerings; share count rose to 213.1 m.
- Cash flow: Operating cash burn improved to -$24.8 m (H1 2024: -$34.9 m); financing inflow +$98.5 m.
- Balance sheet: $388.9 m equity; no long-term debt; earn-out liability increased to $30.1 m.
- Customer concentration: Distributor A accounted for 54% of Q2 sales; top two distributors >80% in prior year.
- Supplier risk: Sole GaN wafer supplier TSMC to exit GaN production in July 2027; Navitas accelerating qualification with Powerchip (Q4 2025) and seeking additional sources.
- Cost-cutting: 19% workforce reduction executed in January 2025; restructuring charge $1.5 m YTD.
Key takeaways: Revenue softness and margin compression overshadow expense cuts, driving a wider net loss. Liquidity is robust after the ATM raise, but dilution and supplier transition risk weigh on outlook.