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NVTS · Analysis updated Nov 4, 2026, 9:02 AM ET
Why is Navitas Semiconductor (NVTS) stock moving?
Navitas reported Q3 2026 results on Nov 3 after the close. Revenue was $14.0M, up 33% sequentially and 38% year over year, and landed at the high end of guidance. Non-GAAP gross margin reached 40.0%, the third straight quarter of expansion, and GAAP gross margin rose to 21.5%. Q4 guidance of about $16.0M at the midpoint implies roughly 119% year-over-year growth. Management cites a book-to-bill ratio well above one and backlog into mid-2027, as it exits mobile and low-end consumer to focus on AI data center and high-power markets. Cash of $531.5M gives a solid runway. Against that, revenue remains far below the high-$30Ms quarterly level management has said is needed to break even. Q2 free cash flow was -$32.2M, GAAP losses remain large at $37.1M, and the stock is about 73% below its June high. Sources differ on whether revenue and EPS beat or missed, depending on the estimate used. The shares closed at $8.56 on Nov 3, up 7.9% from $7.93, on volume of about 103K, which was the highest in the period shown. After-hours trading reached about $9.10. Price action has been volatile, ranging from $7.91 to $9.44 over the past month.
News behind the analysis
- Navitas Semiconductor Announces Third Quarter 2026 Financial ResultsRevenue grew 33% sequentially and 38% year over year on high-power markets. Management expects another quarter of double-digit sequential growth in Q4. It cites a book-to-bill ratio well above one and backlog into mid-2027.
- Navitas Reports Q3 Double-Beat, Solid Q4 Guidance: DetailsRevenue of $13.99M beat the $13.17M estimate. The non-GAAP loss of $0.03 per share was narrower than the expected $0.04 loss.
- Navitas Q3 2026 slides: AI pivot drives first YoY growth since 2024Q4 revenue is guided to $16.0M at the midpoint, which is 119% year-over-year growth. Non-GAAP gross margin reached 40.0%. Shares added 6.31% after hours to $9.10.
- Navitas Semiconductor Q3 2026 Earnings Call TranscriptThe CEO said Navitas acquired Claros IVR technology for AI infrastructure power. Cash was $531.5M and inventory rose $12.9M to support AI data center customers.
- Earnings call transcript: Navitas Semiconductor Q3 2026 revenue rises, shares gainRevenue was $14.0M versus $10.5M in Q2. Shares closed at $8.56, up 7.94%, on the regular session.
- Navitas Semiconductor Reports Q3 2026 Loss Per Share of $0.14, Revenue of $14.0 Million Falls Short of EstimatesThe GAAP loss was $37.1M, or $0.14 per share. Cash rose to $531.5M from $236.9M at the end of 2025. This source cites a higher revenue estimate than others, so it reads revenue as a miss.
- Navitas Is 73% Off Its High. Tuesday's Report Has to Put the "Power Wall" in RevenueThe preview noted the stock is up 12% in 2026 but 73% below its June 3 high. Q2 free cash flow was -$32.2M. Management has said break-even needs quarterly revenue in the high $30Ms.
- Navitas Semiconductor Announces Third Quarter 2026 Financial Results (Yahoo Finance)GAAP gross margin was 21.5%, versus 0.4% in Q2 2026 and -2.0% in Q3 2025. Net revenue was $13,991K, up from $10,112K a year earlier.