Navitas Semiconductor Announces Fourth Quarter and Full Year 2024 Financial Results

Navitas Semiconductor's total revenue for the fourth quarter was $18 million, down from $26.1 million in the same period of 2023 and $21.7 million in the third quarter. However, total revenue for 2024 reached $83.3 million, a year-on-year increase of 5%. For the first quarter of 2025, the company expects net income to be between $13 million and $15 million, non-GAAP gross margin is expected to be around 38%, plus or minus 0.5%, and non-GAAP operating expenses are expected to be approximately $18 million.