Navitas二季度业绩略超预期但股价盘中下跌近12%

Navitas Semiconductor (NVTS) plunged nearly 12% during Tuesday’s trading hours despite reporting a healthy second-quarter print.
The stock was trading 11.92% lower at $10.05 in the afternoon.
The company posted a loss of $0.04 per share, in line with Wall Street’s estimates. Revenue for the quarter was $10.53M, which exceeded expectations by $0.56M, helped by continued momentum and growth in high-power markets.
Revenue declined ~27% Y/Y but rose 22% sequentially, which the management attributed to AI infrastructure markets, including AI data centers and grid and energy infrastructure.
The company reported a non-GAAP gross margin of 39.5% for the quarter and ended the quarter with $557.4M in cash.
“We are seeing an expanding backlog, record-level book-to-bill, and shipping volume production samples of our GaN and SiC-based solutions in support of multiple customer new program ramps. These production samples across GaN, HV SiC, and UHV SiC include shipments in support of existing customer engagements for next-generation AI data centers targeting 800 V architectures,” CEO Chris Allexandre said.
For the third quarter, the firm has guided revenues of $13.5M, which is above the consensus of $11.06M. Non-GAAP gross margin is expected to be 39.7%, and non-GAAP operating expenses are expected to be in a range between $15.5M and $17.5M.
“The third quarter will also represent a return to year-over-year growth, driven entirely by high-power markets. This also translates to achieving mid-single-digit revenue growth for the full year,” CFO Tonya Stevens said.
Navitas expects to substantially exit the mobile and the low-end consumer market by the end of this year, the management said. It sees more than one-third of total sales being generated by AI infrastructure markets, generating strong momentum into 2027.