Navitas Semiconductor Corporation

11/03/2025 | Press release | Distributed by Public on 11/03/2025 15:20

Quarterly Report for Quarter Ending September 30, 2025 (Form 10-Q)

Management's Discussion and Analysis of Financial Condition and Results of Operations.
Unless the context otherwise requires, all references in this section to the "Company," "we," "us, or "our" refer to the business of Navitas and its subsidiaries. Throughout this section, unless otherwise noted, "Navitas" refers to Navitas Semiconductor Corporation and its consolidated subsidiaries.
This quarterly report includes "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are attempts to predict or indicate future events or trends or similar statements that are not a reflection of historical fact. Forward-looking statements may be identified by the use of words such as "we expect" or "are expected to be," "estimate," "plan," "project," "forecast," "intend," "anticipate," "believe," "seek," or other similar expressions. Forward-looking statements are made based on estimates and forecasts of financial and performance metrics, projections of market opportunity and market share and current indications of customer interest, all of which are based on various assumptions, whether or not identified in this press release. All such statements are based on current expectations of the management of the Company and are not predictions of actual future performance. Forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions and expectations. Many actual events and circumstances that affect performance are beyond the control of the Company, and forward-looking statements are subject to a number of uncertainties.
Our business is subject to certain risks that could materially and adversely affect our business, financial condition, results of operations, or the value of our securities. These and other risk factors are discussed in the Risk Factors section beginning on p. 15 of our annual report on Form 10-K for the year ended December 31, 2024, as updated in the Risk Factors section in this quarterly report on Form 10-Q, and in other documents we file. If any of these risks materialize or if our assumptions underlying forward-looking statements prove to be incorrect, actual results could differ materially from the results implied by these forward-looking statements.
Overview
Navitas Semiconductor Corporation, a Delaware holding company, operates through its wholly owned subsidiaries, including Navitas Semiconductor Limited and GeneSiC Semiconductor LLC ("GeneSiC"). Originally founded in 2014 as the Legacy Navitas Semiconductor business ("Legacy Navitas"), we were previously an SEC registrant named Live Oak Acquisition Corp. II ("Live Oak"). On October 19, 2021, we completed a business combination (which we refer to as the "Business Combination") in which, among other transactions, Live Oak acquired Navitas Semiconductor Limited and its subsidiaries, and changed our name to Navitas Semiconductor Corporation. We acquired GeneSiC Semiconductor in August 2022. Further details about the Business Combination and the acquisition of GeneSiC Semiconductor can be found in our SEC filings.
The Company designs, develops and markets next-generation power semiconductors including GaN power integrated circuits, high-voltage SiC devices and associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The Company focuses on high-power markets including AI data centers, performance computing, energy and grid infrastructure, and industrial electrification. The Company believes that its products provide superior efficiency, performance, size, cost and sustainability relative to existing silicon technology. The Company presently operates as a product design house that contracts the manufacturing of its chips and packaging to partner suppliers. Navitas maintains its operations around the world, including the United States, Ireland, Germany, Italy, Belgium, China, Taiwan, Thailand, South Korea and the Philippines, with principal executive offices in Torrance, California. Navitas has over 300 patents issued or pending and is the world's first semiconductor company to be CarbonNeutral®-certified. We utilize a fabless business model, working with third parties to manufacture, assemble and test our designs. Our fabless model allows us to run the business today with minimal capital expenditures.
Our go-to-market strategy is based on partnering with leading manufacturers and suppliers through focused product development, addressing both mainstream and emerging applications. We consider ourselves to be a pioneer in the GaN market with a proprietary, proven GaN power IC platform that is shipping in mass production to tier-1 companies including Samsung, Dell, Lenovo, LG, Xiaomi, OPPO, Amazon, vivo and Motorola. Most of the products we ship today are used primarily as components in mobile device chargers, but we have recently announced a transition to focus on high-power markets.
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In support of our technology leadership, we have formed relationships with numerous Tier 1 manufacturers and suppliers over the past eight years, gaining significant traction in mobile and consumer charging applications. Navitas GaN is now in mass production with all of the top 10 global mobile OEMs for smartphones, and is in development with all 10 for laptops. In addition, our supply chain partners have committed manufacturing capacity in excess of what we consider to be necessary to support our continued growth and expansion.
A core strength of our business lies in our industry leading IP position. In addition to our comprehensive patent portfolio, our biggest proprietary advantage is our process design kit (PDK), the 'how-to' guide for Navitas designers to create new GaN based devices and circuits. Our GaN power IC inventions and intellectual property translate across all of our target markets from mobile, consumer, data centers, and new energy sectors, which include EV, renewables and energy storage. We evaluate various complementary technologies and look to improve our PDK, in order to keep introducing newer generations of GaN technology. In the three and nine months ended September 30, 2025, we spent approximately 131% and 97%, respectively, of our revenue on research and development. Navitas' research and development activities are located primarily in the US and China. In the three and nine months ended September 30, 2024, we spent approximately 82% and 95%, respectively, of our revenue on research and development.
Execution of At-The-Market Agreement
On March 19, 2025, we entered into an Open Market Sale AgreementSM(the "Sale Agreement") with Jefferies LLC ("Jefferies"). We subsequently completed two ATM offerings referred to as ATM One and ATM Two, respectively. Pursuant to each agreement, we may offer and sell, from time to time, shares of its Class A common stock, par value $0.0001 per share, having an aggregate offering price of up to $50.0 million through Jefferies as sales agent. As of June 30, 2025, we completed the sale of shares under both ATM One and ATM Two resulting in approximately 11.1 million shares under ATM One and 8.7 million shares under ATM Two, with gross proceeds of approximately $100.0 million and offering-related costs of $3.3 million in total. All sales were completed in the second quarter of 2025.
Results of Operations
Revenue
We design, develop and manufacture GaN ICs, SiC MOSFETs and Schottky MPS diodes that deliver best-in-class performance, ruggedness and quality. Our revenue represents the sale of semiconductors through specialized distributors to original equipment manufacturers ("OEMs"), their suppliers and other end customers.
Our revenues fluctuate in response to a combination of factors. In addition, our revenues may fluctuate in response to the Company's announced transition to high-power markets. Some of the factors that may cause these revenue fluctuations include the following:
•our overall product mix and sales volumes, including changing product and market mix;
•gains and losses in market share and design win traction, including the Company's ability to ramp products in its new high-power;
•pace at which technology is adopted in our end markets;
•the stage of our products in their respective life cycles;
•the effects of competition and competitive pricing strategies, particularly in the mobile and consumer markets impacted by our announced transition to high-power markets;
•availability of specialized field application engineering resources supporting demand creation and end customer adoption of new products;
•achieving acceptable yields and obtaining adequate production capacity from our wafer foundries and assembly and test subcontractors;
•market acceptance of our end customers' products; governmental regulations influencing our markets;
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•the global and regional economic cycles;
•declines in average selling prices due to product advances and market competition;
•changes in customer and distributor relationships including the Company's announced consolidation of its distribution network in connection with its transition to high-power markets; and
•seasonal demand patterns in certain markets.
Our product revenue is recognized when the customer obtains control of the product and the timing of recognition is based on the contractual shipping terms of a contract. We provide a nonconformity warranty which is not sold separately and does not represent a separate performance obligation. Our product revenue is diversified across the United States, Europe, and Asia. We consider the domicile of our end customers, rather than the distributors we sell to directly to be the basis of attributing revenues from external customers to individual countries. Revenue for the three and nine months ended September 30, 2025 and 2024, excluding channel inventories, were attributable to end customers in the following countries:
Three Months Ended September 30, Nine Months Ended September 30,
Country 2025 2024 2025 2024
China 52 % 54 % 52 % 65 %
United States 21 24 24 15
Europe 17 8 13 9
Asia excluding China 10 14 11 11
Total 100 % 100 % 100 % 100 %
Cost of Revenues
Cost of Revenues consists primarily of the cost of semiconductors purchased from subcontractors, including wafer fabrication, assembly, testing and packaging, manufacturing support costs, including labor and overhead (which includes depreciation and amortization) associated with such purchases, final test and wafer level yield fallout, inventory impairments, consumables, system and shipping costs. Cost of revenues also includes compensation related to personnel associated with manufacturing, including costs related to cash and stock-based employee compensation.
Research and Development Expense
Costs related to research, design, and development of our products are expensed as incurred. Research and development expense consists primarily of pre-production costs related to the design and development of our products and technologies, including costs related to cash and stock-based employee compensation, benefits and related costs of sustaining our engineering teams, project material costs, third-party fees paid to consultants, prototype development expenses, write-offs of material to be utilized in research and development, and other costs incurred in the product design and development process.
Selling, General and Administrative Expense
Selling, general and administrative costs include employee compensation, including cash and stock-based compensation and benefits for executive, finance, business operations, sales, field application engineers and other administrative personnel. In addition, it includes marketing and advertising, IT, outside legal professional fees and legal settlements, tax and accounting services, insurance, and occupancy costs and related overhead based on headcount. Selling, general and administrative costs are expensed as incurred.
Interest Income (Expense), net
Interest income (expense), net primarily consists of interest earned on bank deposits and interest expense on our royalty agreement.
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Dividend Income
Dividend income consists of income earned on money market treasury funds that are recorded as cash equivalents.
Income Taxes
Legacy Navitas is a dual domesticated corporation for Ireland and U.S. federal income tax purposes. Refer to Note 13 - "Provision for Income Taxes", in our accompanying condensed consolidated financial statements elsewhere in this quarterly report.
Equity method investment loss
Equity method investment loss consists of our proportionate share of our joint venture's loss, which we began recognizing in October 2024 when we started accounting for the investment under the equity method.
Results of Operations
The tables and discussion below present our results for the three months ended September 30, 2025 and 2024 (in thousands):
Three Months Ended September 30, Change
$ 		Change
%
2025 2024
Net revenues $ 10,112 $ 21,681 $ (11,569) (53) %
Cost of revenues (exclusive of amortization of intangible assets included below) 6,281 13,069 (6,788) (52) %
Operating expenses:
Research and development 13,280 17,828 (4,548) (26) %
Selling, general and administrative 5,230 15,040 (9,810) (65) %
Amortization of intangible assets 4,735 4,717 18 - %
Total operating expenses 23,245 37,585 (14,340) (38) %
Loss from operations (19,414) (28,973) 9,559 (33) %
Other income (expense), net:
Interest income (expense), net 401 (39) 440 (1128) %
Dividend income 985 1,210 (225) (19) %
(Loss) Gain from change in fair value of earnout liabilities (844) 9,171 (10,015) (109) %
Other income (expense), net (59) 26 (85) (327) %
Total other income (expense), net 483 10,368 (9,885) (95) %
Loss before income taxes (18,931) (18,605) (326) 2 %
Income tax provision (benefit) (19) 125 (144) (115) %
Equity method investment loss (322) - (322) - %
Net loss $ (19,234) $ (18,730) $ (504) 3 %
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Nine Months Ended September 30, Change
$ 		Change
%
(dollars in thousands) 2025 2024
Net revenues $ 38,620 $ 65,324 $ (26,704) (41) %
Cost of revenues (exclusive of amortization of intangible assets included below) 27,154 39,207 (12,053) (31) %
Operating expenses:
Research and development 37,444 57,028 (19,584) (34) %
Selling, general and administrative 24,721 46,509 (21,788) (47) %
Amortization of intangible assets 14,203 14,265 (62) - %
Restructuring expense 1,469 - 1,469 - %
Total operating expenses 77,837 117,802 (39,965) (34) %
Loss from operations (66,371) (91,685) 25,314 (28) %
Other income (expense), net:
Interest income (expense), net 494 (109) 603 (553) %
Dividend income 2,376 4,251 (1,875) (44) %
(Loss) Gain from change in fair value of earnout liabilities (20,695) 42,920 (63,615) (148) %
Other income (expense), net (4) 140 (144) (103) %
Total other income (expense), net (17,829) 47,202 (65,031) (138) %
Loss before income taxes (84,200) (44,483) (39,717) 89 %
Income tax provision 111 256 (145) (57) %
Equity method investment loss (827) - (827) - %
Net loss $ (85,138) $ (44,739) $ (40,399) 90 %
Three Months Ended September 30, 2025 Compared to the Three Months Ended September 30, 2024
Revenue
Revenue for the three months ended September 30, 2025 was $10.1 million compared to $21.7 million for the three months ended September 30, 2024, a decrease of $11.6 million, or 53%. The decline in sales was mainly due to the decline in sales to the mobile and consumer markets in the China region.
Cost of Revenues
Cost of revenues for the three months ended September 30, 2025 was $6.3 million compared to $13.1 million for the three months ended September 30, 2024, a decrease of $6.8 million or 52%. The change was primarily driven by a decline in sales to the mobile and consumer markets in the China region coupled with product mix.
Research and Development Expense
Research and development expense for the three months ended September 30, 2025 of $13.3 million decreased by $4.5 million, or 26%, when compared to the three months ended September 30, 2024. This is primarily driven by a decrease in stock-based compensation of approximately $1.3 million, coupled with a decrease in headcount and employee costs of $3.4 million as a result of the Company's reduction in forces.
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Selling, General and Administrative Expense
Selling, general and administrative expense for the three months ended September 30, 2025 of $5.2 million decreased by $9.8 million, or 65%, when compared to the three months ended September 30, 2024. This decrease was primarily driven by lower stock-based compensation of approximately $9.6 million, primarily due to a $8.5 million reversal of stock-based compensation due to the separation of our CEO who held 2021 LTIP Options, coupled with a decrease in headcount and employee-related costs of $1.2 million resulting from the Company's workforce reduction and a $0.7 million decrease in bad debt expense. These decreases were partially offset by $2.5 million in CEO transition costs.
Amortization of Intangible Assets
Amortization of intangible assets remained fairly unchanged as we did not acquire new intangible assets.
Other Income (Expense), net
Interest income primarily consists of interest earned on our interest earning account and interest expense is associated with our royalty agreement. The $0.4 million increase in interest income was primarily attributable to higher cash balances.
Dividend income consists of income earned on our money market treasury funds that are recorded as cash equivalents on our consolidated balance sheet. Decrease of $0.2 million is primarily due to decreases in our investment balances in September 30, 2025 compared to September 30, 2024.
During the three months ended September 30, 2025, we recognized a $0.8 million loss from the change in fair value of our earnout liabilities. The change of $10.0 million was primarily a result of the increase of the closing price of our Class A common stock listed on the Nasdaq, resulting in the increase in the estimated fair value of the earnout shares from $0.46 as of September 30, 2024 to $3.20 as of September 30, 2025.
Income Tax Provision (Benefit)
Income tax benefit for the three months ended September 30, 2025 remained relatively flat and the income tax provision for the three months ended September 30, 2024 was $0.1 million. We expect our tax rate to remain close to zero in the near term due to full valuation allowances against deferred tax assets.
Equity method investment loss
In October 2024, we began applying the equity method to account for our joint venture investment. We recognized our proportionate share of the joint venture's loss from the quarter, resulting in a net loss of $0.3 million for the quarter ended September 30, 2025.
Nine Months Ended September 30, 2025 Compared to the Nine Months Ended September 30, 2024
Revenue
Revenue for the nine months ended September 30, 2025 was $38.6 million compared to $65.3 million for the nine months ended September 30, 2024, a decrease of $26.7 million, or 41%. The decline in sales was due to the same factors discussed above for the quarter.
Cost of Revenues
Cost of revenues for the nine months ended September 30, 2025 was $27.2 million compared to $39.2 million for the nine months ended September 30, 2024, a decrease of $12.0 million or 31%. The change was primarily driven by a decline in sales and product mix, partially offset by a $3.2 million inventory reserve related to demand softness in the China region.
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Research and Development Expense
Research and development expense for the nine months ended September 30, 2025 of $37.4 million decreased by $19.6 million, or 34%, when compared to the nine months ended September 30, 2024. This decrease was primarily driven by lower stock-based compensation of approximately $11.6 million couple with a reduced headcount and employee-related costs of $7.8 million from the Company's workforce reduction and the reversal of expense following the resignation of a senior management member who held 2021 LTIP Options. It also reflects a $2.1 million decline in R&D product development costs, partially offset by a $2.2 million advanced R&D NRE impairment.
Selling, General and Administrative Expense
Selling, general and administrative expense for the nine months ended September 30, 2025 of $24.7 million decreased by $21.8 million, or 47%, when compared to the nine months ended September 30, 2024. This is primarily driven by a decrease in stock-based compensation of approximately $19.7 million largely resulting from the reversal of $12.6 million in stock-based compensation following the separation of two senior management members who held 2021 LTIP Options. This is coupled with a decrease in headcount and employee costs of $3.3 million as a result of the Company's reduction in forces. This was partially offset by approximately $2.5 million in CEO transition costs and $1.6 million related to governance costs.
Amortization of Intangible Assets
Amortization of intangible assets remained fairly the same as we did not acquire new intangible assets.
Restructuring Expenses
We announced cost-reduction plans that include a reduction in headcount with the majority of the costs consisting of employee severance and benefits. We incurred $1.5 million related to this plan for the nine months ended September 30, 2025.
Other Income (Expense), net
Interest income primarily consists of interest earned on our interest earning account and interest expense is associated with our royalty agreement. The $0.6 million increase in interest income was primarily attributable to higher cash balances.
Dividend income consists of income earned on our money market treasury funds that are recorded as cash equivalents on our consolidated balance sheet. Decrease of $1.9 million is primarily due to decreases in our investment balances in September 30, 2025 compared to September 30, 2024.
During the nine months ended September 30, 2025, we recognized a $20.7 million loss from the change in fair value of our earnout liabilities. The change of $63.6 million was primarily a result of the increase of the closing price of our Class A common stock listed on the Nasdaq, resulting in an increase in the estimated fair value of the earnout shares from $0.46 as of September 30, 2024 to $3.20 as of September 30, 2025.
Income Tax Provision
Income tax provision for the nine months ended September 30, 2025 decreased to $0.1 million when compared to the income tax provision of $0.3 million for the nine months ended September 30, 2024 mainly due to lower taxable income. We expect our tax rate to remain close to zero in the near term due to full valuation allowances against deferred tax assets.
Equity method investment loss
In October 2024, we began applying the equity method to account for our joint venture investment. We recognized our proportionate share of the joint venture's loss from the quarter, resulting in a net loss of $0.8 million for the nine months ended September 30, 2025.
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Liquidity and Capital Resources
Our primary use of cash is to fund our operating expenses, working capital requirements, and outlays for strategic investments and acquisitions. In addition, we use cash to conduct research and development, incur capital expenditures, and fund our debt service obligations.
We entered into an Open Market Sale AgreementSM(the "Sale Agreement") with Jefferies LLC ("Jefferies") on March 19, 2025. We subsequently completed ATM One and ATM Two. Each agreement permits us to sell, from time to time, shares of its Class A common stock, par value $0.0001 per share, with an aggregate offering capacity of up to $50.0 million, through Jefferies acting as sales agent. As of June 30, 2025, we had sold approximately 11.1 million shares under ATM One and 8.7 million shares under ATM Two, resulting in gross proceeds of approximately $100.0 million and offering-related costs of $3.3 million in total. All sales were completed in the second quarter of 2025. There were no sales in the third quarter of 2025. As of June 30, 2025, there was no available capacity for sale under either ATM One or ATM Two, and therefore neither facility represents current available liquidity.
We expect to continue to incur net operating losses and negative cash flows from operations and we expect our research and development expenses, general and administrative expenses and capital expenditures will continue to increase. We expect our expenses and capital requirements to increase in connection with our ongoing initiatives to expand our operations, product offerings and end customer base.
As of September 30, 2025, we had cash and cash equivalents of $150.6 million. The Company believes that our current levels of cash and cash equivalents are sufficient to finance our operations, working capital requirements and capital expendituresfor the foreseeable future. However, the Company recently announced a transition towards high-power markets which may require additional capital to execute. As a result, the Company may reconsider its capital requirements and pursue additional liquidity.
We expect our operating and capital expenditures to increase and expand our operations and grow our end customer base. If additional funds are required to support our working capital requirements, acquisitions or other purposes, we may seek to raise funds through additional equity or debt financing or from other sources. If we raise additional funds through the issuance of equity, the percentage ownership of our equity holders could be significantly diluted, and these newly issued securities may have rights, preferences, or privileges senior to those of existing equity holders. If we raise additional funds by obtaining loans from third parties, the terms of those financing arrangements may include negative covenants or other restrictions on our business that could impair our operating flexibility and would also require us to incur interest expense. We can provide no assurance that additional financing will be available at all or, if available, that we would be able to obtain additional financing on terms favorable to us.
Cash Flows
The following table summarizes our consolidated cash flows for the nine months ended September 30, 2025 and 2024 (in thousands):
September 30, 2025 September 30, 2024
Consolidated Statements of Cash Flow Data:
Net cash used in operating activities
$ (34,783) $ (48,633)
Net cash used in investing activities
$ (1,384) $ (8,709)
Net cash provided by financing activities
$ 99,148 $ 3,117
We derive liquidity primarily from cash on hand and equity financing activities. As of September 30, 2025, our balance of cash and cash equivalents was $150.6 million, which is an increase of $63.8 million or 74% compared to December 31, 2024.
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Operating Activities
For the nine months ended September 30, 2025, net cash used in operating activities was $34.8 million, which primarily reflects a net loss of $85.1 million, adjusted for a non-cash loss of $20.7 million related to changes in the fair value of our earnout liability, amortization of intangible assets of $14.2 million, non-cash stock-based compensation of $6.5 million, depreciation and amortization of $2.6 million partially offset by aggregate cash inflows from changes in operating assets and liabilities of $3.3 million. Specifically, operating cash flow was mainly impacted by decreases in accounts receivable of $3.2 million, decreases in other assets of $1.0 million, and decreases in inventories of $0.8 million, partially offset with decreases in lease liabilities related to lease payments of $1.3 million, and decreases in accounts payable, accrued compensation and other accrued expenses of $0.7 million.
For the nine months ended September 30, 2024, net cash used in operating activities was $48.6 million, which primarily reflects a net loss of $44.7million. This decrease to operating cash flows is partially offset by adjustments for non-cash share-based compensation of $38.0 million, depreciation of $2.2 million, non-cash gains of $42.9 million in earnout liabilities, amortization of intangible assets of $14.3 million, and an aggregate cash used in operating assets and liabilities of $18.2 million. Specifically, increases in accounts receivables of $1.5 million, decreases in accounts payable, accrued compensation and other expenses of $9.9 million, decline in customer deposits and deferred revenue of $8.9 million, partially offset by decreases in inventories and prepaid expenses and other current assets of $3.0 million.
Investing Activities
Net cash used in investing activities for the nine months ended September 30, 2025 was primarily attributable to fixed asset purchases of $1.4 million.
Net cash used in investing activities for the nine months ended September 30, 2024 of $8.7 million was primarily due to $2.5 million cash funding of a joint venture and $6.2 million for purchases of fixed assets.
Financing Activities
Net cash provided by financing activities for the nine months ended September 30, 2025 of $99.1 million was primarily due our ATM offering of $100.0 million, proceeds from our employee stock purchase plan of $1.5 million, and proceeds from stock option exercises of $1.0 million. This was partially offset by the cost of our ATM offerings of $3.3 million.
Net cash provided by financing activities for the nine months ended September 30, 2024 of $3.1 million was primarily due to proceeds from stock option exercises of $0.4 million and proceeds from our employee stock purchase plan of $2.7 million.
Contractual Obligations, Commitments and Contingencies
In the ordinary course of business, we enter into contractual arrangements that may require future cash payments. As of September 30, 2025, our non-cancellable contractual arrangements consisted of lease obligations and an agreement for the purchase of equipment. Refer to Note 8 - "Leases" for further information on our minimum future payments related to lease obligations. In December 2024, we entered into an agreement with a vendor for the purchase of equipment, requiring quarterly installment payments. Refer to Note 15 - "Commitments and Contingencies" for additional details on purchase obligations.
Off-Balance Sheet Commitments and Arrangements
As of September 30, 2025, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K.
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Critical Accounting Policies and Estimates
The preparation of our financial statements and related disclosures in accordance with U.S. GAAP requires our management to make judgments, assumptions and estimates that affect the amounts reported in our accompanying condensed consolidated financial statements and the accompanying notes included elsewhere in this quarterly report. Our management bases its estimates and judgments on historical experience, current economic and industry conditions and on various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions.
The methods, estimates, and judgments that we use in applying our accounting policies have a significant impact on the results that we report in our condensed consolidated financial statements. Some of our accounting policies require us to make difficult and subjective judgments, often as a result of the need to make estimates regarding matters that are inherently uncertain.
There have been no material changes to our critical accounting policies and estimates from the information in Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations", included in our 2024 annual report on Form 10-K.
Navitas Semiconductor Corporation published this content on November 03, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on November 03, 2025 at 21:20 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]