Navitas Semiconductor reported second quarter 2026 revenue and earnings that surpassed analyst expectations, driven by strong sequential growth as it pivots to high-power markets. While revenue declined year-over-year due to a planned exit from the mobile segment, the company issued strong guidance for the third quarter, signaling accelerating momentum.
Key Highlights
- Looking ahead, the company guided for third quarter revenue of $13.5 million at the midpoint, representing 28% sequential growth and a return to year-over-year growth.
- The results were driven by the company's strategic pivot to high-power markets, which saw revenue grow over 50% year-over-year and helped expand non-GAAP gross margins to 39.5%.
- Management noted that AI Infrastructure is an increasing driver of growth and is expected to represent more than one-third of total sales by the end of 2026.