Navitas reported third quarter 2026 results that exceeded top and bottom-line expectations, driven by a 50% sequential surge in high-power market revenue. The company is nearing completion of its strategic pivot, with mobile and low-end consumer segments now representing less than 5% of the mix while AI infrastructure is projected to surpass 40% of total sales by year-end.
Key Highlights
- Revenue of $14.0 million grew 33% sequentially and 38% year-over-year, outperforming the analyst estimate of $13.5 million.
- Non-GAAP gross margin expanded to 40.0%, supported by a favorable shift toward high-power applications and the phase-out of low-margin consumer business.
- Management issued strong fourth quarter revenue guidance of $16.0 million at the midpoint, representing 119% year-over-year growth and the highest quarterly total in nearly two years.