TORRANCE, Calif. - Navitas Semiconductor has reported a significant increase in its financial performance, with revenues soaring over 100% and its customer pipeline expanding by 65% to $1.25B. The company, known for its gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, has been recognized by Deloitte as one of North America's fastest-growing companies for the second consecutive year.
Gene Sheridan, CEO and co-founder of Navitas, attributed the financial success to the company's rapid technological expansion and strengthening customer relationships. Navitas aims to grow at a rate six to ten times that of the market, leveraging its position as a pure-play, next-generation power semiconductor company.
The company has also announced its participation in two upcoming investor conferences. CJS Securities' 24th Annual "New Ideas for the New Year" conference will be held virtually on January 10th, featuring a fire-side chat with CFO Ron Shelton. Additionally, the Needham 26th Annual Growth Conference on January 17th at the Lotte New York Palace Hotel will include one-on-one meetings with Shelton and Stephen Oliver, VP of Corporate Marketing & Investor Relations.
Navitas has shipped over 125 million GaN and 12 million SiC units, backed by the industry's first and only 20-year GaNFast warranty. The company's GaNFast power ICs integrate power and drive with control, sensing, and protection, aimed at enabling faster charging, higher power density, and greater energy savings across various markets, including electric vehicles, solar, energy storage, and data centers.
This report is based on a press release statement and reflects the company's performance and future participation in investor events.
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