Navitas Semiconductor, Industry-Leader in Gallium Nitride (GaN) Power ICs, Announces First Quarter 2022 Financial Results

About Navitas
Navitas Semiconductor (Nasdaq: NVTS) is the industry leader in GaN power ICs, founded in 2014. GaN power ICs integrate GaN power with drive, control, protection and sensing to enable faster charging, higher power density and greater energy savings for mobile, consumer, enterprise, eMobility and new-energy markets. Over 145 Navitas patents are issued or pending, and over 50 million units have been shipped with zero reported GaN field failures. Sustainability is a core focus, as every GaNFast power IC shipped saves 4 kg of CO2 emissions. Navitas rang the Nasdaq opening bell and started trading on Nasdaq on October 20th, 2021.

Contact Information
Media
Graham Robertson, CMO Grand Bridges
Graham@GrandBridges.com

Investors
Stephen Oliver, VP Corporate Marketing & Investor Relations
ir@navitassemi.com

Navitas Semiconductor and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Navitas Semiconductor and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.


NAVITAS SEMICONDUCTOR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS (GAAP) - UNAUDITED
(dollars in thousands, except per-share amounts)
    
  Three Months Ended
  March 31,
   2022    2021 
NET REVENUES$6,740  $5,317 
COST OF REVENUES 3,777   2,959 
GROSS PROFIT 2,963   2,358 
OPERATING EXPENSES:   
Research and development 13,413   4,254 
Selling, general and administrative 24,544    5,369  
Total operating expenses   37,957       9,623  
LOSS FROM OPERATIONS   (34,994 )     (7,265 )
OTHER INCOME (EXPENSE), net:      
Interest income (expense), net   (24 )     (61 )
Gain from change in fair value of warrants   51,763        
Gain from change in fair value of earnout liabilities   63,406        
Other expense   (356 )      
Total other income (expense), net   114,789       (61 )
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES   79,795       (7,326 )
PROVISION FOR INCOME TAXES   3       19  
NET INCOME (LOSS) $ 79,792     $ (7,345 )
NET INCOME (LOSS) PER SHARE:      
Basic $ 0.67     $ (0.37 )
Diluted $ 0.61     $ (0.37 )
SHARES USED IN PER-SHARE CALCULATION:      
Basic   119,542       19,741  
Diluted   131,149       19,741  
       
SUPPLEMENTAL INFORMATION:      
  Three Months Ended
  March 31,
    2022       2021  
Stock-based compensation expenses included in:      
Net revenues $     $ 113  
Research and development   7,494       206  
Selling, general and administrative   17,832       1,516  
Total stock-based compensation expense $ 25,326     $ 1,835  
Research and development includes:      
Amortization of acquisition-related intangible assets   88       99  

« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise