Navitas Semiconductor Q3 revenue beats estimates on rising demand from AI data centers and grid infrastructure

Overview

• U.S. power semiconductor maker's Q3 revenue grew 38% yr/yr, beating analyst expectations

• Non-GAAP gross margin rose to 40% from 38.7% a year earlier

• Company completed Claros acquisition to expand AI infrastructure power delivery portfolio

Outlook

• Company expects Q4 revenue of $16 mln, plus or minus $0.5 mln

• Company expects Q4 non-GAAP gross margin of 40.5%, plus or minus 100 bps

• Company sees full-year 2026 revenue growth of 7% at Q4 guidance midpoint

Result Drivers

• HIGH-POWER MARKETS - Co said growth in high-power markets drove Q3 revenue and gross margin expansion

• AI INFRASTRUCTURE DEMAND - Co said rising demand from AI data centers and grid infrastructure contributed to growth and backlog

• CLAROS ACQUISITION - Co said Claros acquisition expanded portfolio for AI infrastructure power delivery

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the semiconductors peer group is "buy."

• Wall Street's median 12-month price target for Navitas Semiconductor Corporation is $13.00, about 63.9% above its November 2 closing price of $7.93

Reuters Recommended Reads

• Nov 2 - Lattice Semiconductor Q3 revenue more than doubles on AI-driven FPGA demand, AMI acquisition

• Nov 2 - Advanced Energy Q3 revenue beats on record semiconductor and data center computing sales

• Nov 2 - Guerrilla RF Q3 revenue rises 61% on aerospace & defense demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)