Short answer
Navitas Semiconductor Corp (NVTS) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $46M (−44.9% year over year) and net income of −$117M.
- Top risk flagged: U.S. government export restrictions on GaN and SiC semiconductors impacting international trade and investments
FY2025 key financial metrics · XBRL
- Revenue
- $46M
- −44.9% YoY
- Net income
- −$117M
- −38.2% YoY
- Operating margin
- -234.7%
- −77.8 pp YoY
- EPS (diluted)
- −$0.57
- −23.9% YoY
- ROE
- -26.4%
- −2.1 pp YoY
- Operating cash flow
- −$43M
- +27.1% YoY
Source: XBRL data from the Navitas Semiconductor Corp (NVTS) FY2025 10-K on SEC EDGAR. USD.
Navitas Semiconductor Corp FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: fabless design and marketing of GaN and high-voltage SiC power semiconductors for high-power markets
- New strategic pivot "Navitas 2.0" in late 2025 focusing on AI data centers, grid infrastructure, performance computing, industrial electrification
- De-emphasis on mobile/consumer products, shifting R&D and resources toward high-margin, high-power applications
- Shipped over 300 million GaN and nearly 30 million SiC devices by December 31, 2025, with a global workforce of approximately 190 employees
- First semiconductor company to be CarbonNeutral™ certified and published a comprehensive sustainability report quantifying climate impact savings
Management Discussion & Analysis
- Revenue and YoY change not explicitly disclosed in provided text
- No segmentation revenue or performance details provided
- Cash inflows of $100M from PIPE offering (Nov 2025) and $100M from ATM offerings (Q2 2025) less $7.7M offering-related costs
- Navitas 2.0 restructuring plan with $16.6M charges in Q4 2025 to focus on high-power, higher-margin markets
Risk Factors
- U.S. government export restrictions on GaN and SiC semiconductors impacting international trade and investments
- High-power market focus exposed to volatile demand and potential revenue decline from mobile and consumer sector de-emphasis
- Single third-party wafer foundry dependence for GaN and SiC fabrication with no long-term supply contracts
- Competitive threat from established incumbents with substantial R&D and manufacturing resources in AI data center markets
- Reliance on a few key distributors may cause material adverse effect if any reduce orders or cease purchasing
Generated from the filing text; verify against the original. How to read a 10-K
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