• The 'Tesla' of power chips, using next-generation Gallium Nitride (GaN) for superior efficiency.
• Wolfspeed (formerly Cree) for Gallium Nitride (GaN) power semiconductors.

• GaNFast™ Power ICs: These integrated circuits leverage Gallium Nitride (GaN) technology to deliver high-speed, high-efficiency power conversion for a wide range of applications including mobile chargers, consumer electronics, and data centers.
• GeneSiC™ Silicon Carbide (SiC) Devices: These high-power, high-voltage devices, including MOSFETs and diodes, utilize Silicon Carbide (SiC) technology for demanding applications such as electric vehicles, solar inverters, and industrial power supplies.

Navitas Semiconductor (NVTS) primarily sells its gallium nitride (GaN) power integrated circuits to other companies (B2B) that integrate these components into their end products across various sectors such as consumer electronics, data centers, and electric vehicles. Major customers include:

• Anker Innovations (private company) - A leading global brand for fast chargers and power accessories.
• Xiaomi (HKEX: 1810) - A global technology company known for smartphones and smart hardware.
• Dell Technologies (NYSE: DELL) - A multinational technology company that develops, sells, repairs, and supports computers and related products and services.
• Lenovo Group (HKEX: 0992) - A global technology company specializing in designing, manufacturing, and marketing consumer electronics, personal computers, software, business solutions, and related services.
• Samsung Electronics (KRX: 005930) - A global leader in consumer electronics, mobile communications, and device solutions.
• Harley-Davidson (NYSE: HOG) - Specifically for its electric motorcycle brand, LiveWire, utilizing Navitas GaN in EV powertrains.
• BYD (SZSE: 002594, HKEX: 1211) - A leading multinational high-tech company known for automobiles, rail transit, new energy, and electronics.

• Taiwan Semiconductor Manufacturing Company Limited (TSM)
• Amkor Technology, Inc. (AMKR)
• ASE Technology Holding Co., Ltd. (ASX)

Chris Allexandre President & Chief Executive Officer

Appointed CEO effective September 1, 2025, Chris Allexandre has over 25 years of experience in the semiconductor industry. Before joining Navitas, he held senior executive operating and sales roles at Renesas Electronics Corporation, including Senior Vice President and General Manager of the Power Division and Chief Sales and Marketing Officer. He also held executive positions at Integrated Device Technology, Inc. (acquired by Renesas in 2019), NXP Corporation, and Fairchild Semiconductor, and began his career at Texas Instruments.

Todd Glickman Chief Financial Officer & Treasurer

Todd Glickman has served as Senior Vice President, Interim Chief Financial Officer, and Treasurer since Navitas' business combination in October 2021. He joined Navitas in 2015, initially as Senior Vice President, Finance. Prior to Navitas, he evaluated early-stage technology investments for MalibuIQ, LLC, a venture capital firm and original investor in Navitas. His background also includes corporate development at Activision Blizzard, private equity roles at Vance Street Capital, and investment banking at Lehman Brothers.

Dan Kinzer CTO & COO

A co-founder of Navitas Semiconductor in 2014, Dan Kinzer brings over 30 years of experience leading research and development in semiconductor and power electronics companies. He is recognized for developing advanced power device and IC platforms, including wide bandgap GaN and SiC device design. Before co-founding Navitas, he served as VP R&D, VP Advanced Product Development, and Chief Technologist at International Rectifier (acquired by Infineon for $3 billion). He was also SVP Product & Technology Development & CTO at Fairchild Semiconductor (acquired by onsemi for $2.4 billion). He holds over 180 U.S. patents.

Gene Sheridan Co-founder, (Former President & Chief Executive Officer)

Gene Sheridan co-founded Navitas Semiconductor in 2014 and served as its President and Chief Executive Officer until stepping down on August 31, 2025. He has over 25 years of experience in power management and semiconductors. Prior to Navitas, he was CEO of the venture capital-backed semiconductor startup BridgeCo, Inc. from 2006 to 2011. He also had a successful career at International Rectifier. Navitas went public in 2021 through a SPAC merger.

Siddarth Sundaresan, PhD Senior Vice President, Technology

Dr. Siddarth Sundaresan is the Senior Vice President of Technology, and SVP of SiC Technology & Operations, at Navitas Semiconductor. He joined Navitas in 2022 through the acquisition of GeneSiC Semiconductor. He possesses over 15 years of experience in SiC and GaN power device and process technologies. As a critical innovator at GeneSiC Semiconductor, he contributed to over 20 patents and 60 peer-reviewed technical papers, helping to establish GeneSiC as a leader in high voltage, high-temperature SiC technology.

1. Execution Risk of Strategic Pivot to High-Power Markets: Navitas is undergoing a significant strategic shift, known as "Navitas 2.0," to de-emphasize its traditional lower-margin mobile and consumer products and instead focus on higher-growth, higher-power applications like AI data centers, electric vehicles (EVs), solar energy, and industrial electrification. This transition entails substantial operational, technical, and market risks. The company's current financial performance shows declining revenue and profitability margins, and there is a risk that this pivot may not achieve the anticipated revenue growth or margin improvements. Success hinges on Navitas's ability to develop and scale semiconductor solutions for these demanding new markets, effectively compete against established players, anticipate evolving customer needs, and secure crucial design wins.
2. Intense Competition and Market Adoption Challenges for GaN Technology: Navitas operates in the highly competitive power semiconductor industry. While its gallium nitride (GaN) technology offers efficiency advantages, the company faces strong competition from established incumbents, including larger manufacturers with significant scale and resources. The pace of adoption for new technologies like GaN and silicon carbide (SiC), especially in emerging high-power applications, can be unpredictable and slower than projected. If the growth of the GaN market disappoints or proves less lucrative than expected, it could have a substantial adverse impact on Navitas.
3. Cyclicality of the Semiconductor Industry and Macroeconomic Factors: The semiconductor industry is inherently cyclical and prone to significant volatility. Navitas's revenue and growth are tied to demand in volatile end markets, including fast-charging adapters, AI data centers, solar micro-inverters, and electric vehicles. Economic slowdowns, such as recessions, in these sectors or generally, could directly reduce demand for Navitas's products. Furthermore, geopolitical factors, including tariffs and trade tensions, particularly between the United States and China, pose risks to international revenues and supply chain stability. The company's stock price has also demonstrated significant volatility.

The clear emerging threat for Navitas Semiconductor is the consolidation of the gallium nitride (GaN) power semiconductor market by large, established industry players. Specifically, the acquisition of former competitor GaN Systems by Infineon, a major global power semiconductor company, poses a significant threat. This consolidation allows a highly resourced competitor like Infineon to leverage its existing scale, manufacturing capabilities, and extensive customer relationships to aggressively compete in the GaN market, potentially challenging Navitas's market share and growth opportunities.

Navitas Semiconductor (NVTS) operates in the Gallium Nitride (GaN) power integrated circuit (IC) and high-voltage Silicon Carbide (SiC) markets. The company is strategically focusing on high-power segments, including AI data centers, grid and energy infrastructure, performance computing, and industrial electrification.

Navitas Semiconductor estimates its serviceable available market (SAM) for its GaN and high-voltage SiC solutions in these targeted high-power segments to be approximately $3.5 billion globally by 2030.

More broadly, the global GaN Power ICs market was valued at USD 2.1 billion in 2023 and is projected to reach approximately USD 5.64 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 15.16% from 2024 to 2030. North America leads the GaN Power ICs market, holding about 45% of the global share, followed by Europe with approximately 30%, and Asia-Pacific with around 20%.

The overall global GaN Power Device market, which encompasses GaN power ICs, was valued at USD 451.0 million in 2024 and is expected to grow to USD 4,706.2 million by 2033, exhibiting a CAGR of 28.28% from 2025 to 2033. Another report indicates a market size of USD 378.43 million in 2024, projected to reach USD 3562.68 million by 2032, at a CAGR of 32.35%. In 2024, North America dominated the GaN Power Device Market with the largest revenue share of 32.77%, with the U.S. alone accounting for 81% of North America's share. The Asia-Pacific GaN Power Device Market is anticipated to experience the fastest CAGR of 19.33% between 2025 and 2032.

The broader global GaN and SiC Power Semiconductor market was valued at $3.6 billion in 2024 and is projected to reach $16 billion by 2034, growing at a CAGR of 24.3%.

1. Strategic Pivot to High-Power Markets: Navitas is undergoing a significant business transformation, shifting its focus from lower-margin mobile and consumer segments to high-power applications. This strategic pivot targets high-growth markets such as AI data centers, grid infrastructure, electric vehicles (EVs), and industrial electrification. The company anticipates these sectors to be primary growth drivers.
2. Increasing Adoption of Gallium Nitride (GaN) and Silicon Carbide (SiC) Technologies: As a pure-play GaN and SiC semiconductor company, Navitas is well-positioned to benefit from the secular technology transition in power electronics from traditional silicon to more efficient GaN and SiC solutions. These advanced technologies are seen as both displacement technologies in traditional markets and enabling technologies in new energy markets.
3. Launch of New Products and Design Wins in High-Power Applications: Continuous innovation and securing new design wins are crucial for revenue growth. Navitas is actively developing and sampling new high-voltage GaN and SiC modules, including 2.3kV and 3.3kV SiC modules for energy storage and grid infrastructure, and 100V GaN FETs for AI power applications. The company has reported significant design wins, particularly in data centers and EVs, with a substantial customer pipeline.
4. Expansion of Customer Pipeline: Navitas has demonstrated a growing customer pipeline, indicating future revenue potential. The total customer pipeline nearly doubled from $1.25 billion at the end of 2023 to $2.4 billion at the end of 2024. This includes numerous customer projects in GaNSafe ICs, Gen-3 Fast silicon carbide technology, and the electric vehicle segment.
5. Anticipated Market Recovery and Secular Tailwinds: Despite facing some near-term market headwinds, Navitas expects a market recovery and anticipates sequential growth throughout 2026. The company also benefits from long-term secular tailwinds such as energy source conversion to renewables, the transition to electric transportation, and the rapidly accelerating power demands of AI and edge computing.

Share Issuance

• Navitas Semiconductor completed a private placement in November 2025, raising $100 million in fresh capital by issuing 14.8 million new shares at $6.75 per share.
• In fiscal year 2025, the company strengthened its financial position through successful capital raises, including a $100 million PIPE offering and $100 million ATM offerings.
• The number of shares outstanding for Navitas Semiconductor significantly increased from approximately 39 million in 2021 to 212.7 million as of March 2026.

Inbound Investments

• In November 2025, Navitas Semiconductor raised $100 million through a private placement by issuing 14.8 million new shares.
• The company executed successful capital raises in fiscal year 2025, including a $100 million PIPE (Private Investment in Public Equity) offering and $100 million ATM (At-The-Market) offerings.

Capital Expenditures

• Navitas Semiconductor's capital expenditures were $4.78 million in 2023, $6.77 million in 2024, and $1.39 million in 2025.
• In the fourth quarter of 2025, the company invested $48,000 in capital expenditures, which was directed towards funding long-term assets and infrastructure.