Navitas Semiconductor Corp has announced its financial results for the third quarter of 2026, revealing a robust growth trajectory driven by high-power markets. The company reported total revenues of $14 million, marking a 33% increase sequentially and a 38% increase year-over-year. This strong performance is attributed to the company's strategic shift away from mobile and low-end consumer markets, positioning itself as a leader in high-power semiconductor solutions.

On November 3, 2026, Navitas issued a press release detailing its unaudited consolidated financial results for the quarter ending September 30, 2026. The results indicate that the company is successfully executing its "Navitas 2.0" transformation strategy, which emphasizes high-power applications, particularly in AI infrastructure.

Founded in Torrance, California, Navitas Semiconductor operates within the semiconductor industry, specifically under the SIC code 3674, which encompasses semiconductors and related devices. The company trades on the Nasdaq under the ticker NVTS and has undergone significant changes since its inception, including a name change from Live Oak Acquisition Corp II in August 2020.

The filing reveals that the company's revenue growth is primarily driven by high-power markets, which have seen a more than 50% sequential increase. This shift has contributed to a gross margin expansion, with GAAP gross margin reaching 21.5% and non-GAAP gross margin at 40%. The company anticipates maintaining this momentum, projecting another quarter of double-digit sequential growth in Q4 2026.

Navitas's CEO, Chris Allexandre, stated, "Our strong third quarter results and the continued acceleration in high-power markets reflect the successful execution of our Navitas 2.0 transformation." He emphasized that the company expects to eliminate mobile and low-end consumer revenue from its mix by year-end, further solidifying its focus on high-power applications such as AI Data Centers and energy grid infrastructures.

According to the filing, the anticipated growth is expected to be fueled by the increasing demand for AI infrastructure, which is projected to represent over 40% of total sales by the end of the year. This trend is consistent with broader industry movements towards high-efficiency power solutions, as AI technologies require more robust power delivery systems.

Navitas's CFO, Tonya Stevens, echoed these sentiments, highlighting that the company's revenue growth from high-power markets is more than offsetting the decline from its previous focus on mobile and low-end consumer business. The company expects to achieve a full-year revenue growth of 7% for 2026, with significant contributions from high-power markets.

The filing also includes a presentation for the earnings call, which outlines the company's strategic direction and financial outlook. The information provided under Items 2.02 and 7.01 of the filing emphasizes that these results should not be considered "filed" for purposes of the Securities Exchange Act of 1934, nor subject to its liabilities.

As Navitas Semiconductor continues to navigate its transformation, the implications for the semiconductor industry are significant. The company's focus on high-power solutions aligns with the growing trend towards AI and energy-efficient technologies, which may influence competitors to adapt their strategies accordingly. The filing does not specify any immediate next steps beyond the earnings report, but it indicates a strong position for Navitas moving forward.