Navitas Semiconductor
Fabless maker of GaN and SiC power chips for AI data centers, EVs, and grids.
On the record
Checkpoint: Q2 2026 earnings report, first full quarter after Wolfspeed patent suit filed
The call
Navitas has a real NVIDIA design win and a shrinking, unprofitable business fighting a patent suit from Wolfspeed and richer rivals in GaN and SiC.
Navitas Semiconductor designs specialized power chips that handle very high voltage electricity, used in NVIDIA's AI systems and data centers. The company is hard to replace because it has years of engineering work embedded in those designs and owns over 300 patents on this technology. But three major problems are hitting at once: Wolfspeed, a much larger competitor, is suing Navitas for patent infringement (which could block sales of Navitas's main products); Infineon and Renesas already bought competing chip makers and are catching up fast; and Navitas's own sales fell 45 percent last year while its profits are years away. The one thing that could turn this around is if Navitas wins the patent lawsuit quickly, or if demand for its NVIDIA chips explodes so fast that it outpaces what the bigger rivals can build.
Why
01
AI pressure: None apparent. AI is not eating Navitas, it is feeding it: NVIDIA's 800V HVDC data center design win is the growth story. Could AI do the core job? Unlikely.
02
Bigger players: Infineon (GaN Systems) and Renesas (Transphorm). Infineon and Renesas already bought their way into GaN/SiC for $830M and $339M, fielding rival chips now. Could a giant copy it? Yes, easily.
03
What protects it. 300+ GaN/SiC patents plus a live NVIDIA 800V HVDC design-in that rivals have not yet displaced.
What would change this call
Outcome or settlement of Wolfspeed's July 7, 2026 patent suit against Navitas's GaNFast/GeneSiC lines. Determines whether Navitas can keep selling its core products at all.
Q2 2026 earnings (July 27, 2026) AI/infrastructure segment revenue vs. $10.0M guide. Shows whether the AI pivot is compounding or the revenue collapse continues.
Any announcement of Infineon, STMicro, or TI winning a competing NVIDIA 800V HVDC design slot. Would show Navitas losing its exclusive NVIDIA foothold to larger incumbents.
Q2 2026 earnings (July 27, 2026) AI/infrastructure segment revenue vs. $10.0M guide. Shows whether the AI pivot is compounding or the revenue collapse continues.
Any announcement of Infineon, STMicro, or TI winning a competing NVIDIA 800V HVDC design slot. Would show Navitas losing its exclusive NVIDIA foothold to larger incumbents.
Key numbers
- FY2025 revenue $45.9M, down 45% from $83.3M
- Q1 2026 revenue $8.6M, up 18% sequentially
- Q2 2026 guidance $10.0M, +/-$0.5M
Named risks
- Wolfspeed patent suit filed July 7, 2026 covers nearly all core product lines.
- Company not profitable, no profit path expected before 2029.
- Revenue pivot to AI/grid still unproven, AI segment in single digit millions.
- Stock priced on AI narrative, 52-week range $5.44 to $34.17 shows extreme volatility.
- Incumbents Infineon and Renesas consolidating GaN/SiC scale via acquisition.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Wolfspeed | contesting | Filed patent suit July 7, 2026 covering GaNFast, GaNSafe, GaNSlim, GeneSiC, SiCPAK lines |
| Infineon | losing to | Acquired GaN Systems for $830 million to consolidate GaN scale, reported June 8, 2026 |
| Renesas | losing to | Acquired Transphorm for $339 million to gain GaN capability, reported June 8, 2026 |
| STMicroelectronics | contesting | Named as potential competitor for NVIDIA 800V HVDC design slots per July 2026 brief |
| Texas Instruments | contesting | Adjacent incumbent watched for competing NVIDIA HVDC design win as of July 2026 |
Questions people ask
- Is Navitas Semiconductor profitable in 2026?
- No. Navitas is not yet profitable and analysts do not expect profitability before 2029, per a July 9, 2026 Motley Fool report. FY2025 revenue fell 45% to $45.92 million, and the company is funding growth through equity raises like a $95.6 million private placement in November 2025.
- Is Navitas Semiconductor losing to Wolfspeed?
- Wolfspeed filed a patent infringement lawsuit against Navitas on July 7, 2026, covering its core GaNFast, GaNSafe, GaNSlim, GeneSiC and SiCPAK product lines. Navitas says it will vigorously defend and expects to prevail, but the suit targets nearly all of its shipped product portfolio, an unresolved risk as of July 2026.
- What is Navitas Semiconductor's relationship with NVIDIA?
- NVIDIA selected Navitas on May 21, 2025 to collaborate on 800V HVDC data center power architecture supporting Kyber rack scale systems for Rubin Ultra GPUs. The relationship expanded in October 2025 with new GaN FET and SiC devices, and Navitas showed a 20kW 800V to 6V board at GTC in 2026.
- Has Navitas Semiconductor had layoffs?
- Yes. Navitas disclosed a 19% workforce reduction in its Q4 2025 earnings call on February 24, 2026 as part of its Navitas 2.0 restructuring. Headcount fell to approximately 190 employees as of December 31, 2025, down 90 employees, or 32.14%, from the prior year.
- Is Navitas Semiconductor's revenue growing or shrinking?
- Both, depending on the period. Full year 2025 revenue fell 45% to $45.92 million as Navitas exited mobile charging. But quarterly revenue has grown sequentially since bottoming at $7.3 million in Q4 2025, reaching $8.6 million in Q1 2026 with Q2 2026 guidance of $10.0 million.
- Who owns Navitas Semiconductor and is it public?
- Navitas Semiconductor Corporation trades on Nasdaq under ticker NVTS, having listed October 20, 2021 via a SPAC merger with Live Oak Acquisition Corp II at roughly $1.04 to 1.7 billion enterprise value. As of July 24, 2026 its market capitalization was approximately $2.93 billion.
Timeline
- 2026-07-27Navitas Q2 2026 earnings scheduled for release
- 2026-07-07Wolfspeed files patent infringement suit against Navitas core product lines
- 2026-06-25Navitas 2026 AGM rejects board declassification proposal
- 2026-06-08Report notes Infineon and Renesas GaN/SiC acquisitions and Navitas GaN share loss
- 2026-05-05Q1 2026 results: $8.6M revenue, up 18% sequentially, Q2 guidance $10.0M
- 2026-02-24FY2025 results show revenue down 45% to $45.92M, 19% workforce cut disclosed
- 2025-11-01Navitas completes $95.6 million private placement
- 2025-10-13Navitas expands NVIDIA 800VDC AI factory power architecture collaboration
- 2025-09-01Chris Allexandre becomes CEO, replacing founder Gene Sheridan
- 2025-05-21NVIDIA selects Navitas for next generation 800V HVDC architecture
Revision history
24 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Navitas Semiconductor Announces Fourth Quarter and Full Year 2025 Financial Results (2026-02-24)
- Navitas Semiconductor (NVTS) Q1 2025 Summary (2026-07-08)
- Navitas Semiconductor Corp (NVTS) Q4 2025 Earnings Call Highlights (2026-02-25)
- Navitas Semiconductor Announces First Quarter 2026 Financial Results (2026-05-05)
- Navitas Q1 Earnings & Revenues Beat Estimates on High-Power Growth (2026-05-08)
- What is Competitive Landscape of Navitas Semiconductor Company? (2026-03-20)
- Why Shares in Nvidia Partner, Navitas Semiconductor, Soared Higher by 151%... (2026-07-09)
- Navitas Semiconductor (NVTS) Number of Employees
- Navitas Semiconductor Names Chris Allexandre as President and CEO (2025-08-25)
- NVIDIA Selects Navitas to Collaborate on Next Generation 800 V HVDC Architecture (2025-05-21)
- Navitas Supports 800 VDC Power Architecture for NVIDIA's Next-Generation AI Factory Computing Platforms (2025-10-13)
- Wolfspeed Files Patent Infringement Lawsuit Against Navitas Semiconductor (2026-07-07)